2022 Fleet Management Market Analysis by Industry Perspective, Comprehensive Analysis, Growth and Forecasts to 2028

Fleet Management is a management of commercial motor vehicles such as cars, vans, trucks, specialist vehicles that allows companies to minimize the risks associated with vehicle investment, improving efficiency, productivity and reducing their overall transportation and staff costs along with vehicle financing maintenance and telematics,driver,speed and fuel management and health and safety management.

Fleet Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution (Operation, Asset, Driver Management); Deployment (Cloud, On-premise, Hybrid); Services (Professional Services, Integration and Deployment Services, Managed Services); Vehicle Type (Heavy Commercial, Light Commercial, Aircraft, Railway, Watercraft); Communication Technology (GNSS, Cellular system); Industry (Retail, Government, Transportation and Logistics, Automotive) and Geography

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IMPACT OF COVID-19 ON FLEET MANAGEMENT MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The fleet management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fleet management market in these regions.

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MARKET SEGMENTATION

-Based on solution, the global fleet management market is segmented into operation, asset, and driver management.
- On the basis of deployment, the market is segmented into type of deployment cloud, on-premise, and hybrid.
- Based on services, the market is segmented into professional services, integration and deployment services, and managed services.
- Based on vehicle type the market is segmented into heavy commercial, light commercial, aircraft, railway, and watercraft.
- Based on communication technology, the market is segmented into GNSS and cellular system.
- Based on industry, the market is segmented into retail, government, transportation and logistics, and automotive.

MARKET DYNAMICS

Drivers:

- The fleet management market is heavily influenced by driving factors such as growth in wireless technology, compulsion of ELD implementation, need of operational competency and increase in international trades are the significant factors that boost the market growth.

Restraints:

-Lack of network infrastructure, the complexity of deployment and high initial capital requirements are impacting negatively on the growth of the market in the current market scenario.

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