Global Fleet Management Systems Market worth US$ 78.6 Billion 2029 with a CAGR of 15.5%
Published Date:April 2019
The report "Global Fleet Management System Market, by Type (Solutions (Operations Management, Information Management, Risk Management, Vehicle Maintenance and Leasing, Safety and Compliance Management, and Others (carbon emission reporting, toll management, and in-cab coaching) and Services, Professional services, and Managed services), by Deployment Type (On-Premises, Cloud, and Hybrid), by Fleet Type (Light Commercial Vehicles (LCVs) and Medium and Heavy Commercial Vehicles (M&HCVs)), and Region - Global Forecast to 2029" Global fleet management system market is projected to grow from US$ 17.3 billion in 2019 to US$ 78.6 billion by 2029. The global fleet management system market is expected to register moderate growth over the forecast period. This is attributed to increasing need for operational efficiency in fleet owning organizations, coupled with rising adoption of cloud computing for streamlining fleet management operations.
Increasing use of reed sensors in emerging technologies and Telematics data is used to make informed business decisions, coupled with green fleet initiatives to reduce the environmental impact to ensure efficient functioning of fleets are expected to create lucrative growth opportunities for new as well as existing players to gain competitive edge.
In August 2016, AT&T Inc launched AT&T Fleet Complete--. It is a GPS-based fleet, asset, and mobile workforce solution. AT&T fleet complete can help business customers' track and manage vehicles, high-value assets, and mobile workers.
In June 2016, Geotab Inc launched GO RUGGED Telematics Device--. This device allows users to access critical data insights and business intelligence for increased uptime and efficiency, reduced fuel and maintenance costs, and enhanced driver and fleet safety.
Key Market Insights from the report:
The global fleet management system market accounted for US$ 17.3 billion in 2019 and is projected to register a moderate CAGR of 15.5% over the forecast period. The market report has been segmented on the basis of type, deployment type, fleet type, and region.
By type, the global fleet management system market is segmented into solutions and services. Solution sub-segment is categorized into operations management, information management, risk management, vehicle maintenance and leasing, safety and compliance management, and others. Others sub-segment is classified into carbon emission reporting, toll management, and in-cab coaching. Services sub-segment is categorized into professional services and managed services.
By deployment type, the global fleet management system market is categorized into on-premises, cloud, and hybrid.
By fleet type, the global fleet management system market is bifurcated into light commercial vehicles (LCVs) and medium and heavy commercial vehicles (M&HCVs).
By region, North America fleet management system market accounted for major revenue share of the global fleet management system market and is further anticipated to maintain its dominance over the forecast period, owing to increasing adoption of fleet management technologies in the countries of the region. The market in Europe is expected to account for second-highest revenue share in 2019.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Fleet Management System Market--, by Type (Solutions (Operations Management, Information Management, Risk Management, Vehicle Maintenance and Leasing, Safety and Compliance Management, and Others (carbon emission reporting, toll management, and in-cab coaching) and Services, Professional services, and Managed services), by Deployment Type (On-Premises, Cloud, and Hybrid), by Fleet Type (Light Commercial Vehicles (LCVs) and Medium and Heavy Commercial Vehicles (M&HCVs)), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)- forecast till 2029
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The prominent player operating in the global fleet management system market includes AT&T Inc, Donlen Corporation, Geotab Inc., LeasePlan USA, Inc., Masternaut Limited, Merchants Fleet Management, Omnitracs, LLC, Teletrac Navman (UK) Ltd, Trimble Inc., Verizon Telematics, Inc, Wheels, Inc., and WorkWave, LLC.
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