Fleet and Transportation Management System for Transportation and Logistics Market Solution, Services 2021-2031

The global fleet and transportation management system for transportation and logistics market was accounted for at $24.9 billion in 2021, and is expected to reach $64.9 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031.

Presently, the global fleet and transportation management system for transportation and logistics market is dominated by Asia-Pacific followed by Europe, North America, and Latin America & Middle East. In Asia-Pacific, the market is mainly driven by China owing to the optimistic automotive sector scenario coupled with rise in demand for vehicle tracking and telematics. In North America, the U.S. is expected to witness considerable growth in the fleet and transportation management system for transportation and logistics industry during the forecast period.

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Fleet management deals with the management of commercial vehicle operations on a larger scale. It can be defined as the processes used by fleet managers to monitor fleet activities and make decisions from asset management, dispatch & routing, and vehicle acquisition. Businesses that rely on transportation utilize fleet management to control costs, productivity, fuel management, and compliance. Thus, fleet managers are responsible for maintaining costs, maximizing profitability, and reducing fleet vehicle risks. In addition, fleet management offers finance management, enhanced safety of vehicle & driver, and operational competency with real-time fleet tracking analysis. Most fleet managers use fleet management software to improve overall fleet safety, customer services, and increase visibility & profitability with process management & research. In addition, a transportation management system is a platform designed to streamline a shipping process. It is a subset of supply chain management concerning transportation solutions. A transportation management system allows shippers to automate processes within supply chain and receive valuable insights to save time and reduce expenditure on future shipments.

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COVID-19 Impact Analysis:

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the transportation and logistics is one of the considerably hit sectors. Supply chains are exceptionally complex, with myriad companions unfold throughout more than one area as a part of an unprecedented, intertwined worldwide alternate ecosystem. The COVID-19 pandemic has induced a huge strain on global supply chains as they rush to complete and ship orders as quickly as possible. Transportation organizations needed to ensure that transportation networks can continue to operate throughout the lockdown measures, striking a balance between reduced operations and providing enough capacity for key workers to practice social distancing.

KEY FINDINGS OF THE STUDY

By application, the scheduling, routing and tracking segment dominated the global fleet and transportation management system for transportation and logistics market in 2021, in terms of revenue.
By component, the solution segment is expected to register significant growth, registering a CAGR of 9.2% during the forecast period.
By region, Asia-Pacific dominated the global fleet and transportation management system for transportation and logistics market in 2021 in terms of market share.

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The prominent players operating in the fleet and transportation management system for transportation and logistics market are Azuga Inc., E2open Parent Holdings Inc., Element Fleet Management Corp, Geotab Inc., Holman Inc., MercuryGate International Inc., Solera Holdings LLC, Trimble Inc., Verizon Communications Inc., Wheels LLC, SAP SE, and Samsera Inc.

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