Rising Trends and Demand for Fleet Management Market in the Global Market: Research Insights by MRFR

Market Research Future published a research report on “Global Fleet Management Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Fleet Management Market Information Report by Deployment Type (Cloud, On-Premises, Hybrid), by Management type (Driver Management, Asset Management, Operation Management), by Connectivity Type (Satellite Navigation, Cellular System), by Services (Managed Services, Integration and Deployment services, Professional services) and by Regions - Global Forecast To 2023

Market Scenario:

Fleet management is the process of managing vehicle fleet in an organization. Mismanaging a vehicle fleet can have significant effect on an organized operation. Fleet management typically includes vehicles such as trucks, cars and corporate fleets, commercial and freight aircrafts, buses and trams and also container ships. Fleet management includes operations such as vehicle tracking, mechanical diagnostics and also driver behavior. Furthermore, vehicle tracking and diagnostics include risk management, fuel management, telematics and accident management. Fleet management is predominantly used in sectors such as oil and gas, chemicals, mining, construction, retail and logistics, utilities, public and private transport, waste management and service sectors.

Fleet management market is expected to grow at a CAGR of 22% during the forecast period.

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The market is driven by the continuous increase in the demand for logistics and transport. The determiners of the growth of the market are the fluctuating fuel costs, connectivity issues, demand to meet pollution targets and operational efficiency. With fleet management, organizations can have better access to plan maintenance of vehicles, enhanced driver safety, proper routing of fleets that can all ultimately lead to effective operations of the fleet. Adding to that, vehicle connectivity and smart transportation are increasingly helping organizations to ensure safety operations of the fleets. Fleet management also helps in higher efficiency, consistent performances and ultimately reduced costs.

Global Fleet Management Market:

The fleet management market is driven by the need to meet increasing strict standards from environmental laws and the demand to reduce costs from vehicle operations. The fleet management is deployed by cloud technology, on premises or by hybrid technology. The fleet management operations also focus on driver and asset management and even the operations management that can save fuel by planned route operations. For example, driver management programs focus on driving behaviors of drivers and how they can be made to have less impact on fuel consumption and reduce cost. Also, fleet management focuses on scheduled maintenance of fleets to reduce maintenance cost and operational liability of fleets.

Global organizations are rapidly deploying fleet management services in their operations either by the cloud technology or by the on-premises technology. Also predominant employment of these technologies result in low cost for implementation and this is driving the market for fleet management. The vehicles are usually tracked by GPS systems or Electronic logging devices (ELD).

The North American and Europe region is expected to dominate the market due to stringent norms on vehicle emissions and huge innovations in the fleet management technology deployment. The Asia-Pacific region is expected to be the fastest growing region with increased opportunities in countries such as China and India. Large scale adoption of web and mobile based business services in these regions is the primary driver for the market in the region.

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Key Players:

The key players of global fleet management markets are Fleetmatics Group PLC (U.S.), Verizon Telematics Inc.(U.S.), Trimble Inc. (U.S), WorkWave LLC(U.S.), Zonar Systems, Inc. (U.S.), I.D. Systems, Inc. (U.S), and Cisco Systems, Inc. (U.S.).

Intended Audience:

• Distributer & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

The report for Fleet Management by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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Market Research Future
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