Fuel Management System Market Growth, Latest Industry Size, Future Sales Revenue and Key Drivers Analysis Research Report 2028, The Insight Partners

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 9.82% 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.

Download Sample Report (Including Full TOC, List of Tables & Figures, Graphs, and Chart) @ https://www.theinsightpartners.com/sample/TIPRE00003172/?utm_source=OpenPR&utm_medium=10212

A fuel management system is a technology-based solution that tracks and controls fuel use while providing real-time visibility into all elements of the fleet. The increasing use of telematics software and technology, including radio-frequency identification and programmable logic controllers, to enable fleet operators to target the whole fleet management lifecycle is the major reason driving the expansion of the fuel management system market.

The expansion of the fuel management system market is driven by the increased need for better fuel management to improve productivity and efficiency across various industry sectors. Furthermore, the rapid growth of e-commerce platforms to provide the best consumer experience has driven the supply and logistics industries to embrace sophisticated IoT technologies. Ford Commercial Solutions announced Ford TelematicsTM in June 2020, a web-based software platform and subscription service that includes GPS tracking and geofencing, and fuel monitor consumption.

The Key Players In The Global Fuel Management System Market Are:

•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.

Impact of COVID-19 Pandemic on Fuel Management System Market

According to the latest report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, India and China are among the worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent in the coming years. Oil and gas power-generating facilities have reduced activities, such as shutting down construction, operations, and maintenance projects, at several locations, after the issuing of multiple "stay at home" orders by state governors across the world. In the energy industry, the quarantine measures and shutdowns are causing furloughs and layoffs of technical, construction, and manufacturing personnel, and project demobilizations in many cases. As a result, many oil wells are struggling to keep up with maintenance and operations. However, the production of the industrial equipment is anticipated to gain pace from the first quarter of 2022, which is expected to positively influence the industrial equipment manufacturing, including fuel management systems.

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.

Speak To Analyst @ https://www.theinsightpartners.com/speak-to-analyst/TIPRE00003172/?utm_source=OpenPR&utm_medium=10212

The Segments and Sub-Section of Fuel Management System Market are shown below:

By Component (Hardware and Software),

By Function (Delivery and Storage),

By End-User (Mining, Construction and Ports, Transportation and Logistics, Oil and Gas, and Others)

Component Segment Insights

Based on component, the fuel management system market is segmented into hardware, software, and controllers. Delphi Technologies, a propulsion technology solution and service provider, introduced a new aftermarket fuel management program in Europe in June 2020. Innovative aftermarket solutions for managing fuel modules, pumps, and other fuel module design, such as electronic and hydro-mechanical diagnostic tools, are part of the new fuel management program. In March 2021, Shell Fleet Solutions UK announced a new fuel card management software for UK limited company owners to manage fuel operational difficulties.

End-User Segment Insights

Based on the end-user, the global fuel management system market is segmented into mining, construction and ports, transportation and logistics, oil and gas, and others. The transportation sector makes substantial use of fleet and fuel management technologies, particularly to enhance fuel economy. For decades, the transportation business has functioned in secrecy, resulting in a variety of operational inefficiencies and malpractices. The use of software for truck or vehicle fuel management systems provided much-needed transparency to the overall transportation management system. Furthermore, automation has been a key selling point for fuel management software on the market. In addition, the introduction of fifth generation telematics-based fuel management systems allow fleet managers to continually analyze fuel consumption patterns and make targeted efficiency improvements, resulting in the market expansion.

The Insight Partners Fuel Management System Market Research Report Scenario includes:

•The report provides qualitative and quantitative trends of global Fuel Management System Market across type, type of products, service, and geography.
•The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global Fuel Management System Market.
•Chapter Three provides the research methodology of the study.
•Chapter Four further provides PEST analysis for each region.
•Chapter Five highlights the key industry dynamics in the Fuel Management System Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
•Chapter Six discusses the global Fuel Management System Market scenario, in terms of historical market revenues, and forecast till the year 2028.
•Chapter Seven to ten discuss Fuel Management System Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
•Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
•Chapter Twelve provides the detailed profiles of the key companies operating in the global Fuel Management System Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
•Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

Buy Now At @ https://www.theinsightpartners.com/buy/TIPRE00003172/?utm_source=OpenPR&utm_medium=10212

Contact Us:

If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get value of their money along with better quality data and analysis.

This release was published on openPR.