Fleet Management Market 2020 - Regional Overview & Industry Growth Trends Forecast To 2025
The APAC fleet management market is expected to grow rapidly over the forecast period due to the increase in the adoption of smart cities and increasing awareness regarding passenger safety in the public transportation system. The government authorities are emphasizing on the safety and security of passengers in public transportation, especially women and children in urban areas.
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The Fleet Management Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025 for the following segments:
Fleet Management Market By Component, 2014-2025 (USD Million)
• Operation Management Solution
• Driver Management Solution
• Vehicle Tracking System
• Managed Services
• Professional Services
Fleet Management Market By Deployment Model 2014-2025 (USD Milli
By Vehicle Type 2014-2025 (USD Million)
• Commercial vehicles
• Passenger vehicles
By End-user 2014-2025 (USD Million)
• Transportation & Logistics
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The advanced fleet management systems have a feature of driver-behavior monitoring, which will prevent rash driving behavior and reduce on-road accidents. The real-time fleet tracking reduces the chances of vehicle theft. The On-Board Diagnostics (OBD) feature in the fleet management system monitors the performance of vehicle engine components and provides alerts regarding maintenance requirements of engine components. The increase in the high initial capital expenditure required for the deployment of the fleet management system may hamper market growth. The growing concerns over the data privacy and security of data transmitted over the wireless network and lack of cellular network infrastructure in developing countries are also expected to hinder the fleet management market growth.
The major fleet management solution providers are strategically collaborating with other technology companies to provide innovate fleet management solution for logistics and transportation companies. For instance, in January 2017, Geotab selected Sequans Communication’s LTE Cat 1 technology for next-generation vehicle tracking systems. This collaboration helped the company to offer advanced connectivity solutions and cost-effective future-proof fleet management solutions. The major players operating in fleet management market are Geotab, Automotive Rentals Inc., Teletrac Navman, Verizon Connect, Mix Telematics, Masternaut, Chevin Fleet Solutions, Inseego Corp, Omnitracs, Trimble, Wheels, Inc., GPS Insight, Nextraq, Azuga, Donlen Corporation, TomTom N.V., AT&T Inc., Freeway Fleet Systems, Cisco Systems, Inc. and Fleetmatics Group PLC.
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