Fuel Management System Market to Reach US$ 2,089.56 million, Globally, by 2028 at 9.82% CAGR: The Insight Partners

Growing Demand for Monitoring and Controlling Fuel Consumption to Create Growth Opportunities for Fuel Management System Market during 2021-2028

According to our latest market study on "Fuel Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Function, and End-User," the market was valued at US$ 1,084.64 million in 2021 and is projected to reach US$ 2,089.56 million by 2028; it is expected to grow at a CAGR of 9.8% from 2021 to 2028.

Fuel management systems are used to keep track of and regulate the volume of fuel used by a fleet. They precisely measure and track gasoline stockpiles, as well as how fuel is supplied. This data is then saved on systems and reported to the management through online portals. As a result, numerous industry vertical stakeholders benefit from enhanced fuel economy and reduced fuel waste. It aids in tracking vehicle maintenance and driver routes data, which may be used to make cost-effective decisions such as creating more efficient driving routes and encouraging better driving behavior, both of which enhance fuel efficiency. These systems can also gather data on drivers filling up their vehicles, build fleet lists, generate reports, manage stocks, keep track of transactions storage, and maintain data tables. Based on these responses, organizations are making data-driven decisions to enhance business operations. Taking advantage of this, several firms have entered the market and are now providing end-to-end solutions for various industrial verticals. For example, Fueltek provides T4000 fuel management system, which works with current gasoline pumps to give consumers total control over fuel delivery.

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Market Insight
Increasing Cases of Fuel Theft
Theft of fuel is a major problem in the industry. Due to the global increase in gasoline prices, possible damages and losses in terms of theft and other malpractices have been observed over the period. Hence, standard processes and effective solutions such as anti-siphoning smart devices and fuel monitoring software need to be implemented to combat gasoline theft. To meet this need, various companies have developed automatic fuel monitoring systems to close the gap. For instance, Aeris partnered with Omnicomm to provide fuel monitoring systems in India in February 2020. The strategic partnership targets fuel theft in various businesses, including construction and locomotives. These platform releases are critical for firms such as the food and pharmaceutical sectors, working relentlessly to avoid inconsistencies. Similarly, Fuel Me launched a cloud-based fuel purchase and roadside help app for commercial transportation and construction industries by offering various roadside assistance services, including the complete fuel procurement process. These advances are necessary for the industry to improve safety, visibility, and sustainability, which, in turn, fuel the growth of the fuel management system market.

Companies Mentioned:
• Chevin Fleet Solutions
• Franklin Fueling Systems
• Gilbarco Inc.
• Multiforce Systems Corporation
• Navig8
• Piusi S.p.A.
• OPW Fuel Management Systems
• Orpak Systems Ltd.
• Banlaw
• Syntech Systems, Inc.

The report on Fuel Management System market gives a rundown of market segmentation. Moreover, it provides particulars pertaining to market size, valuation and CAGR of each region and segment for all years from 2017 until 2028. PEST analysis for each region is given as well.

Fuel Management System Market - by Component
• Hardware
• Software

Fuel Management System Market - by Function
• Delivery
• Storage

Fuel Management System Market - by End- User
• Mining
• Construction and Ports
• Transportation and Logistics
• Oil and Gas
• Others

The document will help readers gain vital information regarding the market such as leading players, their company profiles, portfolios, financial information, and latest developments. The report also enables companies in making strategic decisions such as partnerships, product launches, collaborations, etc. to gain a competitive edge.

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Additionally, the report includes an exhaustive analysis of the market and concludes with precise estimates of the revenue generation by each segment, country, region and company. Every detail that might prove to be essential for making strategic decisions is mentioned along with solutions and suggestions from expert analysts. Each segment of the market is studied extensively to provide reliable knowledge for supplementary market investments.

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Contact Person: Sameer Joshi
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About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.