Fleet Management Market Size to Reach USD 52.50 Billion by 2030 at CAGR 10.6% - Valuates Reports
BANGALORE, India, Feb. 18, 2022 /PRNewswire/ -- The Fleet Management Market is Segmented by Vehicle Type (Light Commercial Vehicle, Heavy Commercial Vehicle, Aircraft, Railway, and Watercraft), Component (Solution and Services), Communication Technology (Global Navigation Satellite System (GNSS) and Cellular System), and Industry (Retail, Government, Transportation & Logistics, Automotive, and Others). The report covers global opportunity analysis, regional outlook, growth potential, industry forecast from 2021 to 2030.
The global fleet management market size was valued at USD 19.47 Billion in 2020 and is projected to reach USD 52.50 Billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 10.6% from 2021 to 2030.
Major Factors Driving The Growth Of The Fleet Management Market
Fleet management solutions provide a host of benefits to organizations such as predictive maintenance of vehicles, visibility, low fuel costs, real-time updates, and insights, increased efficiency, scheduling, routing, and improved customer satisfaction. These end-user benefits are leading to widespread adoption thereby fueling the growth of the fleet management market.
The increasing focus of fleet managers on operational efficiency and the advent of remote fleet management will bolster the market growth in the coming years. Moreover, growing fleet safety and security concerns are augmenting the need for proper fleet management ultimately surging the growth of the market during the forecast period.
Get your sample today: https://reports.valuates.com/request/sample/ALLI-Auto-1C138/Fleet_Management_Market
Trends Influencing The Growth Of The Fleet Management Market
Fleet management solutions offer a variety of benefits to fleet managers. The real-time visibility, insights, and predictive maintenance allow for greater focus on fuel consumption and maintenance thereby reducing unnecessary costs. The effective scheduling of vehicles, drivers, and route planning helps in increasing efficiency and keeping track of the location of vehicles. Moreover, customer satisfaction is enhanced due to the simplified booking and appointment process. These benefits will create lucrative opportunities for the fleet management market growth in the coming years.
Fleet managers are increasingly focussing on operational efficiency for achieving maximum output at minimum costs. Fleet costs form a major chunk of the company's expenses. Fleet management solutions help in increasing profit through built-in GPS tracking and real-time monitoring of vehicles. This provides valuable insights on vehicle safety, security, driver status, cost, performance, and vehicle life cycle. Management can make necessary changes and take important decisions based on real-time notifications. Thus the need for achieving operational efficiency is driving demand for fleet solutions thereby accelerating the growth of the fleet management market during the forecast period.
The covid 19 pandemic has given rise to remote fleet management. The adoption of fleet management software becomes necessary as keeping track of various components of daily fleet activities becomes difficult in a remote working environment. Softwares improves employee productivity and provides better communication even if the vehicles are scattered across the country. This is expected to bolster the market growth in the coming years.
Moreover increasing security and safety is a challenge for fleet operators. Accidents, emergencies, and theft issues are prevented through alarm systems, built-in GPS video tracking, and driver behavior monitoring systems. These advanced technologies provide real-time driver behavior data such as seat belt alerts, speeding incidents, harsh braking, acceleration, and accidents. Thus increasing the need for the safety and security of fleet vehicles will drive the growth of the fleet management market during the forecast period.
Browse the Table of Contents and List of figures at: https://reports.valuates.com/market-reports/ALLI-Auto-1C138/fleet-management
Fleet Management Market Share Analysis
Based on vehicle type, the aircraft dominated the global fleet management market in 2020 and is expected to continue growing in the forecast period.
Based on components, the solutions segment incurred a higher share in 2020.
Based on communication technology, the cellular system segment is expected to dominate a significant share of the market.
Based on the industry the other segment holds a significant share of the market.
Based on region, North America is expected to dominate followed by Europe, Asia-Pacific, and LAMEA. The US had the biggest share in 2020. On the other hand, the Asia-Pacific segment will grow the fastest due to the rising demand for fleet management and vehicle tracking solutions.
Report Customization Request: https://reports.valuates.com/request/customisation/ALLI-Auto-1C138/Fleet_Management_Market
Key Market Players
- At&T, Inc
- Cisco Systems, Inc.
- Fleetmatics Group Plc
- Freeway Fleet Systems
- Ibm Corporation
- I.D. Systems
- Mitac International Corporation
- Navico
- Telogis
- Tomtom N.V.
Other organizations mentioned in the fleet management market report include
- U.S. General Services Administration,
- Uber Technologies, Inc.,
- Ola Cabs (ANI Technologies Pvt. Ltd.),
- Lyft, Didi Chuxing, Grab,
- European GNSS Agency (GSA),
- Spireon, Inc., Trimble Transportation & Logistics,
- Fleet Robo Fleet Management Solutions,
- DC Velocity, Scope Technologies,
- Troncalnet,
- FAMSA,
- CARSSA Courier Company,
- Altos Hornos de Mexico (AHMSA),
- Grupo Autofin de Monterrey,
- The Goodyear Tire & Rubber Company,
- Mercedes-Benz, Renault
Chapter Cost Request: https://reports.valuates.com/request/chaptercost/ALLI-Auto-1C138/Fleet_Management_Market
Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-1C138&lic=single-user
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS
- The global IoT Fleet Management Market size is projected to reach USD 26410 Million by 2027, from USD 6955.7 Million in 2020 at a Compound Annual Growth Rate (CAGR) of 21.0% during 2021-2027
- The global smart fleet management market was valued at USD 38,245.6 Million in 2019, and is projected to reach USD 98,656.5 Million by 2027, registering a CAGR of 15.8%. Asia-Pacific was the highest revenue contributor, with a CAGR of 17.7%.
- The U.S smart fleet management market was valued at USD 58.18 Billion in 2019, and is projected to reach USD 89.17 Billion by 2027, registering a CAGR of 6.44% from 2020 to 2027.
- The global Commercial Vehicle Fleet Management System market size is projected to reach USD 17860 Million by 2028, from USD 6441.4 Million in 2021, at a CAGR of 15.5% during 2022-2028.
- The global light commercial vehicle market size was valued at USD 463.00 Billion in 2020, and is projected to reach USD 786.50 Billion by 2030, registering a CAGR of 5.3%.
- The global Marine Fleet Management Software market size is projected to reach USD 934.9 Million by 2027, from USD 504.9 Million in 2020, at a CAGR of 9.2% during 2021-2027.
- Global Fleet Management Tablets Market Outlook 2022
- Global Fleet Management Software Market Insights and Forecast to 2028
- Fleet Management Consulting Service Market Size, Status and Forecast 2021-2027
- Waste Collection Fleet Management Software Market Size, Status and Forecast 2021-2027
To see the full list of related reports on the Fleet Management
ABOUT US:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources
CONTACT US:
Valuates Reports
[email protected]
For U.S. Toll-Free Call +1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com
Follow on Twitter - https://twitter.com/valuatesreports
Follow on Linkedin - https://in.linkedin.com/company/valuatesreports
Follow on Facebook - https://www.facebook.com/valuatesreports
SOURCE Valuates Reports
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article