Fleet Management Market Growing With A CAGR Of 9.6% In The Forecast Period Of 2022 To 2029

The market is growing with a CAGR of 9.6% in the forecast period of 2022 to 2029 and is expected to reach USD 5,272.17 million by 2029. The increasing growth of infrastructure projects in the region is driving the growth.

The large-scale management of commercial vehicle operations is known as fleet management. Any business that incorporates a fleet of cars into its operations is considered to be engaged in some type of fleet management. The three main goals of fleet management are to maximize revenue and reduce risk. Fleet management's goal is to monitor the operation and upkeep of these vehicles to make sure the system is functioning properly and possibly search for methods to increase efficiency. Fundamentally, fleet management is about process optimization. Typically, the fleet manager is the person in charge of fleet management.

The nation part of the research also lists specific market-impacting variables and domestic market regulation changes that have an affect on the market's present and future tendencies. Some of the key indicators utilized to anticipate the market scenario for certain countries include data points like new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs. When providing forecast analysis of the nation data, it also takes into account the presence and accessibility brands, the difficulties they encounter owing to strong or weak competition from domestic and local brands, and the impact of sales channels.

Increasing fleet safety concerns, regulatory mandates for vehicle maintenance and tracking, the need for operational competency in fleet management, and an increase in the usage of wireless technology because of its accessibility and low cost all contribute to the market's expansion globally. However, the market's expansion globally is hampered by elements including cost sensitivity among local firms and a lack of consistent & seamless internet connectivity. The expansion of logistics-related transportation, the use of intelligent transportation systems, and the expansion of communication networks all contribute to the market's expansion throughout the projection period.

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Global Fleet Management Market: Segmentations

Global Fleet Management Market: Major Players
Bestmile
Inseego
Wheels, Inc
Tourmaline Labs
GPS Insight
Verizon Connect
Teletrac Navman
Nextraq
KeepTruckin
ARI Fleet Management
Omnitracs
ThingTech
Samsara
Azuga
Donlen Corporation
Trimble

Global Fleet Management Market: By Types
Operations Management
Performance Management
Vehicle Maintenance and Diagnostics
Fleet Analytics and Reporting
Others

Global Fleet Management Market: By Applications
Commercial Fleets
Passenger Cars

Global Fleet Management Market: Regional Analysis
The countries covered in the regional analysis of the Global Fleet Management market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Market Dynamics:

With the advent of the internet of things, vehicles can now seamlessly link to smart gadgets and offer emergency roadside assistance and real-time traffic warnings. Also, during the forecast period, new fleet safety rules are anticipated to extend the market's growth. To safeguard fleet solutions, governments throughout the world are passing legislation and putting in place fleet safety initiatives. During the course of the prediction period, all of the aforementioned variables are projected to fuel market expansion. The global IoT fleet management market is expanding as a result of rising environmental pollution levels, a rise in the number of fleet vehicles, and increased road freight traffic. Sales of commercial vehicles are predicted to rise by almost 25% throughout the projected period, based on data gathered.

Report Scope:

The primary and secondary research is done in order to access up-to-date government regulations, market information and industry data. Data were collected from the Fleet Management manufacturers, distributors, end users, industry associations, governments' industry bureaus, industry publications, industry experts, third party database, and our in-house databases. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment by type, application and region and as a result provides a holistic view of as well as a deep insight into the Fleet Management market covering all its essential aspects.

Objectives of the Study:
• To provide with an exhaustive analysis on the Fleet Management Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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