New Empirical Research Report on Fleet Consultancy Service Market by Forecast From 2024 to 2031 With Covid-19 Impact Analysis and Future Business Opportunities : ARI Fleet Management, Spectrum Tracking, CompassCom Software

The Fleet Consultancy Service Market is estimated for 2024 for the forecast period 2024-2031, as highlighted in a new report published by Worldwide Market Reports.

Market Overview:

Fleet consultancy services help organizations manage their commercial vehicle fleets in an efficient manner. Services include fleet optimization, cost reduction programs, driver safety training, compliance management, and utilization analysis.

Market Dynamics:

Growing fleet sizes of organizations coupled with complexity of managing commercial vehicles is driving the demand for fleet consultancy services. According to a study, average commercial fleet size of organizations grew by over 15% in last 5 years. Furthermore, strict emission regulations have made fleet management challenging. Fleet consultancy aids organizations in maintaining compliance and lowering operating costs through optimization of routes, right-sizing of fleets, and analysis of driver behavior. Additionally, demand for fleet utilization tracking and analysis is witnessing high growth amid need to lower fleet expenses. However, market is still at a nascent stage and fragmented nature of industry poses challenges.

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Rise in fleet size and complexity is driving growth in fleet consultancy services:

With the growth in the commercial transportation industry and the rise in fleet size across various sectors such as logistics, e-commerce, food delivery etc. the complexity of managing large fleets has increased tremendously. Fleet operators are finding it difficult to optimize fleet utilization, reduce operational costs, ensure regulatory compliance and driver safety with the expanding fleet size. This growing complexity is driving the demand for specialized fleet consultancy services that can help fleet owners and managers address these challenges through data-driven recommendations, customized solutions and consulting on technology adoption. Experienced fleet consultants with domain expertise are playing a crucial role in helping fleet operators transition to more efficient operations and maximize returns through right-sizing fleets, route optimization, driver monitoring systems etc.

Need for Compliance with stringent emission and safety regulations is boosting consultancy needs:

Fleet regulations around the world are becoming more stringent with the push for lower vehicle emissions and improved driver safety. Requirements around switching to electric vehicles, CAFE standards, use of telematics, installation of driver monitoring devices are increasing compliance pressures and costs for fleet owners. Non-compliance can lead to heavy penalties. Fleet consultancy firms are helping their clients future-proof their operations by advising on emerging regulatory changes, evaluating options for compliance and assisting with implementation of solutions. They play an advisory role in navigating the complex regulatory landscape and ensuring long-term compliance for fleets in a cost-effective manner. This is fueling the growth of specialized regulatory consulting vertical within the broader fleet consultancy domain.

Pressure to optimize costs due to rising operational expenses is driving demand for optimization strategies:

Rising fuel prices, maintenance costs, insurance premiums have put pressure on fleet profitability over the years. The accelerated growth of gig economy sectors that depend heavily on fleet operations have also emphasized the need to optimize fleet expenditures. Fleet consultants evaluate clients' existing processes and financials to identify areas of wastage and inefficiency. They help reduce total fleet operating costs through route optimization, vehicle replacement strategies based on lifecycle cost analysis, negotiation support for bulk contracts, measuring driver performance etc. For fleet operators looking to maximize savings at a time of increasing costs, outsourcing optimization tasks to specialized consultants deliver tangible returns.

Shortage of qualified fleet managers poses a challenge to service adoption:

Qualified and experienced fleet managers with the right mix of operational, analytical and technology skills are in short supply globally. This talent crunch acts as a restraint on the broader adoption of value-added fleet consultancy services that depend on complex data analysis and domain knowledge. While fleet sizes and complexity are rising rapidly across industries, finding managers with the ability manage fleets using advanced technologies and optimization best practices is a challenge. The specialized skillsets required for functions like implementing telematics programs, monitoring driver behavior, conducting route optimization pose recruitment issues for many fleet owners. As a result, some fleet consultancy service onboarding gets delayed or scaled back. Fleet consultancy firms will need to devise solutions around reskilling/upskilling existing client employees to overcome this capability gap.

Emergence of Mobility as a Service presents an opportunity for consultancies:

The convergence of transportation technologies and business models is giving rise to innovative Mobility as a Service solutions that leverage shared fleets for first and last mile connectivity. Companies are exploring use cases around micro-mobility services, multi-modal transportation platforms and autonomous vehicles. This evolution provides an opportunity for fleet consultancies to expand their services to new clients transitioning to MaaS and advise them on integrating different modes, optimizing shared fleet utilization, data integration across platforms, regulatory and commercial arrangements etc. Consultants that develop deeper expertise around the convergence of different mobility services, future mobility technologies and their implications on fleet operations will be well placed to capture this emerging opportunity space.

Adoption of digital fleet management platforms is becoming an important market trend:

Advanced IoT and data analytics capabilities are enabling the development of next-gen digital fleet management platforms that promise enhanced visibility, control and optimization of fleet operations. Technologies around telematics devices, cloud connectivity, data analytics, AI/ML are powering these new digital platforms. Fleet consultants are increasingly advising clients to adopt these software as a service solutions for a unified view of their fleet performance, remote driver monitoring, automated dispatch

The report further explores the key business players along with their in-depth profiling:

ARI Fleet Management
Spectrum Tracking
CompassCom Software
Element Fleet
Enterprise Holdings
Fleet Group
Matrack
Mercury Associates
Merchants Fleet
Omnitracs

Market Split by Types can be divided into:

Online Service
Offline Service

Market Split by Applications can be divided into:

SMEs
Large Enterprises

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Key Reasons for Buying the Global Fleet Consultancy Service Report:

✦ Comprehensive analysis of the changing competitive landscape
✦ Assists in decision-making processes for the businesses along with detailed strategic planning methodologies
✦ The report offers forecast data and an assessment of the Global Fleet Consultancy Service Industry
✦ Helps in understanding the key product segments and their estimated growth rate
✦ In-depth analysis of market drivers, restraints, trends, and opportunities
✦ Comprehensive regional analysis of the Global Fleet Consultancy Service Industry
✦ Extensive profiling of the key stakeholders of the business sphere
✦ Detailed analysis of the factors influencing the growth of the Global Fleet Consultancy Service Industry

The report answers questions such as:

➢ What is the market size and forecast of the global Fleet Consultancy Service market?
➢ What are the inhibiting factors and impact of COVID-19 shaping the global Fleet Consultancy Service market during the forecast period?
➢ Which are the products/segments/applications/areas to invest in over the forecast period in the global Fleet Consultancy Service market?
➢ What is the competitive strategic window for opportunities in the market?
➢ What are the technology trends and regulatory frameworks in the Fleet Consultancy Service market?

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Table of Content:

1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social, and Technological) Analysis of Fleet Consultancy Service Market
2 Market Trends and Competitive Landscape
3 Segmentation of Fleet Consultancy Service Market by Types
4 Segmentation of Fleet Consultancy Service Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Fleet Consultancy Service Market in Major Countries
7 North America Fleet Consultancy Service Landscape Analysis
8 Europe Fleet Consultancy Service Landscape Analysis
9 Asia Pacific Fleet Consultancy Service Landscape Analysis
10 Latin America, Middle East & Africa Fleet Consultancy Service Landscape Analysis
11 Major Players Profile

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