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Fleet Management Market Emerging Trends, Investor Analysis and Worldwide Forecast till 2023-2032| Automile Inc., Azuga Inc., ClearpathGPS Inc., Donlen Corporation, Geotab Inc.
Fleet Management Market Growth
The Business Research Company's Fleet Management Global Market Report 2023 identifies The increasing demand for commercial vehicles as the major driver for the fleet management market's growth in the forecast period. Organizations use fleet management services to manage commercial vehicles and improve efficiency, productivity, and reduce overall transportation and staffing costs in business. In January 2022, Indian automotive manufacturing company Mahindra & Mahindra's commercial vehicle sales increased by 57% over the previous year.
The global fleet management market size grew from $16.13 billion in 2022 to $18.69 billion in 2023 at a compound annual growth rate (CAGR) of 15.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fleet management market size is expected to grow to $33.13 billion in 2027 at a CAGR of 15.4%.
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Major competitors in the fleet management market are Automile Inc., Azuga Inc., ClearpathGPS Inc., Donlen Corporation, Geotab Inc., GPS Insights, KeepTruckin Inc., Masternaut Ltd., MiX Telematics International (Pty) Ltd., NexTraq, Omnitracs LLC, Samsara Networks Inc., Teletrac Navman US Ltd., Freeway Fleet Systems, US Fleet Tracking, Utilimarc Inc., MiTAC International Corporation, Fleetmatics Group PLC., Fleetonomy, GURTAM, Fleetroot, Orbcomm Inc., Otto Marine Limited and Siemens AG
A key trend in the fleet management market includes The use of the internet of things (IoT). An IoT is a system of interrelated digital and mechanical machines, objects, and computing devices that have the potential to transfer data over a network without the use of human-to-human interaction. Companies are focusing on the application of IoT in fleet management to automate various processes and trip planning.
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The fleet management market is segmented -
• By Component: Solutions, Services
• By Vehicle Type: Heavy Commercial Vehicle, Light Commercial Vehicle, Aircraft, Railway, Watercraft
• By Industry: Retail, Government, Transportation And Logistics, Automotive, Other Industries
• By Communication Technology: GNSS (Satellite), Cellular System
• By Deployment Type: On-Premises, Cloud
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the fleet management market.
The Business Research Company's "Global Fleet Management Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Fleet Management Market Include:
1. Executive Summary
2. Fleet Management Market Characteristics
3. Fleet Management Market Trends And Strategies
4. Fleet Management Market - Macro Economic Scenario
5. Fleet Management Market Size And Growth
……
26. Africa Fleet Management Market
27. Fleet Management Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Fleet Management Market
29. Fleet Management Market Future Outlook and Potential Analysis
30. Appendix
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