Press release
Global Fleet Management Market Thrives On Escalating Demand For Commercial Vehicles: Key Factor Driving The Growth In The Fleet Management Market
Fleet Management
What Is the Projected Growth of the Fleet Management Market?
The market size for fleet management has seen significant growth of late. The market is anticipated to expand from $20.87 billion in the year 2024 to a staggering $23.99 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 14.9%. Factors that have contributed to the growth during the historic period include management of fuel costs, vehicle tracking and visibility enhancement, optimization of maintenance, initiatives for reducing costs, and route optimization.
In the coming years, the fleet management market size is set to experience a surge in growth. The market is predicted to expand to $41.11 billion in 2029, with a compound annual growth rate (CAGR) of 14.4%. The growth during the projection period can be linked to factors such as incorporation of electric vehicles, efforts to reduce climate change and emissions, challenges related to cybersecurity, the advancement of urbanization and smart city projects, remote workforce supervision, as well as health and safety compliance. Noteworthy trends during the forecast period comprise advanced telematics systems, monitoring of driver safety and behavior, autonomous vehicle technologies, application of blockchain in fleet management, and the adoption of models such as mobility-as-a-service (MaaS).
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5679
What Are the Different Fleet Management Market Segments?
The fleet management market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Vehicle Type: Heavy Commercial Vehicle, Light Commercial Vehicle, Aircraft, Railway, Watercraft
3) By Industry: Retail, Government, Transportation And Logistics, Automotive, Other Industries
4) By Communication Technology: GNSS (Satellite), Cellular System
5) By Deployment Type: On-Premises, Cloud
Subsegments:
1) By Solutions: Fleet Tracking And Monitoring Software, Route Optimization Software, Fuel Management Solutions, Maintenance Management Solutions, Driver Behavior And Safety Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training And Education Services, Data Analytics And Reporting Services
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5679&type=smp
What Are the Primary Drivers Shaping the Fleet Management Market?
The burgeoning need for commercial vehicles is anticipated to propel the fleet management market throughout the forecast period. Companies leverage fleet management services for the management of commercial vehicles, aiming to enhance efficiency, productivity, and to curtail total transportation and personnel expenses in business. In January 2022, there was a notable increase of 57% in commercial vehicle sales of Mahindra & Mahindra, an Indian automotive manufacturing firm, compared to the previous year. During the same period, the company observed a rise of 26% in their sales via exports. Consequently, the escalating need for commercial vehicles worldwide is predicted to fuel the fleet management market.
Which Companies Are Leading in the Fleet Management Market?
Major companies operating in the fleet management market include Verizon Connect, Trimble Inc, Samsara Networks Inc, Donlen Corporation, TomTom International BV, Geotab Inc, Teletrac Navman US Ltd, Orbcomm Inc, Ctrack (Inseego Corp.), Azuga Inc, Omnitracs LLC, MiTAC International Corporation, Fleet Complete Ltd, Siemens AG, KeepTruckin Inc, Masternaut Ltd, GURTAM JLLC, NexTraq LLC, GPS Insights, US Fleet Tracking, Freeway Fleet Systems, Fleetonomy Ltd, Fleetroot Ltd, ClearpathGPS Inc, Utilimarc Inc., RAM Tracking, Automile Inc, Fleetmatics Group PLC, MiX Telematics International (Pty) Ltd, Otto Marine Limited
What Fleet Management Market Trends Are Gaining Traction Across Different Segments?
Prominent firms in the fleet management market are progressively concentrating on creating innovative solutions, such as cloud-based management systems and sophisticated telecoms, to improve operational efficacy and minimize expenses. Cloud-based management platforms are integrated systems that enable fleet operators to supervise and control their vehicles in real-time, thereby refining decision-making and resource distribution. For instance, in June 2023, US-based company ZEVX Inc., known for its focus on mobile charging for electric vehicles (EVs), introduced OpenZEVX, a comprehensive fleet management solution aimed at simplifying electric vehicle operations. As a software-as-a-service (SaaS) fleet management system, OpenZEVX is designed to enhance the performance and efficiency of EV fleets. It equips fleet managers with real-time data and dynamic control over vehicle systems, maximising battery performance and driving profiles for improved operational efficiency. Its primary features are telematics for route tracking, predictive maintenance analysis, and mobile app accessibility, all with the intention of reducing total ownership cost and improving driver safety.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/fleet-management-global-market-report
What Are the Top Revenue-Generating Geographies in the Fleet Management Market?
Europe was the largest region in the fleet management market in 2024. Asia-Pacific is expected to be fastest growing in the forecast period. The regions covered in the fleet management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Fleet Management Market?
2. What is the CAGR expected in the Fleet Management Market?
3. What Are the Key Innovations Transforming the Fleet Management Industry?
4. Which Region Is Leading the Fleet Management Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Fleet Management Market Thrives On Escalating Demand For Commercial Vehicles: Key Factor Driving The Growth In The Fleet Management Market here
News-ID: 4013010 • Views: …
More Releases from The Business Research Company
C-X-C Chemokine Receptor Type 2 Market on Track for Strong Growth, Estimated to …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the C-X-C Chemokine Receptor Type 2 Market Through 2025?
There has been a significant expansion in the market for C-X-C chemokine receptor type 2 in the past few years. The market is projected to increase from $1.24 billion in 2024 to $1.38 billion…
Top Market Shifts Transforming the Coenzyme Q10 Market Landscape: Key Insights
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Coenzyme Q10 Market Through 2025?
The market size of coenzyme Q10 has seen impressive expansion in the past years, with predictions stating an increase from $0.74 billion in 2024 up to $0.84 billion in 2025, implying a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
More Releases for Fleet
Fleet Tracking and Logistics Market is thriving worldwide by 2027 | Top Key Play …
Fleet Tracking and Logistics Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report…
Fleet Management Consulting Service Market will reach USD 39.94 Billion by 2032 …
The global fleet management size is expected to grow USD 39.94 Billion by 2032 from USD 21.6 Billion in 2021, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period.
The presence of various key players in the ecosystem has led to a competitive and diverse market. The market include a high growth rate for the adoption of cloud computing and analytics, declining hardware and IoT connectivity costs,…
Fleet Management Solution Market: Start managing fleet data, access and update i …
The report "Global Fleet Management Solution Market By Deployment Model (On-premise, and On-Demand Hybrid), By Solution (Asset Management, Information Management, Driver Management, Safety and Compliance Management, Risk Management, Operations Management, and other Solutions), By End User (Transportation, Energy, Construction, Manufacturing, and Other End Users), and Region - Global Forecast to 2029". Gradually adopting transportation by businesses to enhance their offerings this results in considerable rise over the past few years…
Fleet Management Market Insights | Key players: ARI Fleet Management, Azuga, Che …
According to recent research "Fleet Management Market by Solution (Operations Management, Vehicle Maintenance and Diagnostics, Performance Management, Fleet Analytics and Reporting), Service (Professional and Managed), Deployment Type, Fleet Type, and Region - Global Forecast to 2023", the global fleet management market size is expected to grow from USD 15.9 billion in 2018 to USD 31.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast…
Fleet software comm.fleet: Effective cost control for fleet managers
Relief for fleet managers: identify the cost drivers of the company and take appropriate actions with the fleet management software comm.fleet
The adoption of a multifunctional controlling system is an indispensable prerequisite for an effective and systematic management of all company fleet costs. Be it a question of planning enhancement and control, budgeting coordination or the execution and analysis of a target-performance comparison with the purpose of a perfect fleet administration,…
Fleet Specialisation-Cover 4 Fleet Insurance Investigate Future Fleet Trends
Victoria, London ( openpr ) June 10, 2011 - Economically driven by the need to immerse their resources in core activities, companies will turn to fleet outsourcing options. Even in the case of fleet contract hire, there are case studies which are dramatic in the current economic environment.
Take the case study of Fraikin , which was originally established in France in 1944 and is today the biggest commercial…
