Global Fleet Management Market Prognosticate to Value Over US $ 30.5 By 2026 End

  • 25 Jun 2019

Global Fleet Management Market is predicted to value over USD 30.5 billion by 2026 end and grow at a CAGR of over 13% during the forecast period 2019 to 2026

Fleet management helps enterprises to manage their vehicles more efficiently. It tracks and maintains the automobiles through cost-effective, quick, and accessible methods. The management system performs tasks such as vehicle tracking & diagnostics, financing, driver management, and others. It helps organizations that profoundly depend on transportation to minimise the risks associated with staff, operations cost, and others. Fuel efficiency and improved safety are the benefits offered by fleet management.

Technological advancements and improvements in wireless networks, operational competency needs further fuel the growth of this market. Increase in investments and trade also aid the market’s growth. Rising fuel costs and an increase in the number of substitutes and viability has led to lucrative trade opportunities in the market. 
Recent developments in this sphere have been, in 2019, Omnitracs launched Active Mobile Gateway with Communications (AMG-C), an advanced BYOD solution that offers device pairing, flexible connection options, such as WiFi, 4G, LTE, Bluetooth, and simple management. This new launch would help drivers have more flexible solutions using the LTE connectivity while working from anywhere.
In the same year, Masternaut, a telematics company, launched its new product PULSE, a telematics product that is a plug and play solution focused on offering cost-effective and hassle-free telematics solutions to its users. 
Verizon Connect launched a connectivity app, Work Mobile, which assists field workers to stay connected with their back offices, receive job details, and share fieldwork insights and information with their companies’ back offices, thus helping them improve productivity and increase work visibility.

Fleet Management Market: Segmentation
By Service 

+ Professional  
+ Managed 

By Solution  
+ Operations Management 
+ Vehicle Maintenance and Diagnostics 
+ Performance Management Fleet Analytics  
+ Reporting  

By Deployment Type 
+ Cloud 
+ On-Premises 
+ Fleet Type 
+ Passenger Cars 
+ Commercial Fleets 
+ Electric Vehicles 
 The cloud segment will grow at the highest CAGR during the forecast period. This is due to its cost-efficiency and seamless integration. The passenger cars segment is predicted to lead the market in terms of market size during the forecast period.

By Region:
+ Europe 
+ North America 
+ Latin America
+ Rest of World
North America and Europe are two important revenue pockets expected to dominate the growth trajectory of the global market. Asia Pacific has been estimated to emerge as the fastest growing region in the global fleet management market. The developmental opportunities of China and India are expected to aid the growth of the market in the upcoming years. 

Competitive Landscape: 
+ Tier 1 players- established companies in the market with a major market share 
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants  
The major players in the market are ARI Fleet Management (US), Azuga (US), Chevin Fleet Solutions (Australia), Ctrack (US), Donlen Corporation (US), Geotab (Canada), GPS Insight (US), Masternaut (UK), MiX Telematics (South Africa) , Nextraq (US), Teletrac Navman (US), Trimble (US),  Verizon Connect (US), Wheels, Inc (US), and Fleetroot (UAE). These players have adopted various strategies to grow in the global fleet management market.

FutureWise Takeaways 
+ Growth prospects 
+ SWOT analysis
+ Key trends
+ Key data points affecting market growth 

Objectives of the Study:
+ To provide an exhaustive analysis on the global fleet management market by service, by solution, by deployment and region
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market 
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies


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