Fleet Management Market Information Report By Management type (Driver Management, Asset Management, Operation Management), By Deployment Type (Cloud, On-Premises, Hybrid), By Connectivity Type (Satellite Navigation, Cellular System), By Services (Managed Services, Integration and Deployment services, Professional services) and By Regions - Forecast 2027

ID: VPR/A&T/1177 Publishing Year: January 2022 Pages: 105 Format:   


Fleet Management Market Overview:

Enterprises can use Fleet Management to track and repair their cars in a cost-effective, timely, and accessible manner. Vehicle tracking and diagnostics, finance, driver management, and other activities are all part of it. It enables businesses that rely heavily on transportation to reduce or eliminate the risks connected with staffing, operations, and other factors. Fleet Management benefits include lower fuel and overall operating costs, improved safety, and better fleet operations, as well as real-time fleet tracking and monitoring.

The adoption of wireless technology, the requirement of ELD integration, the necessity for operational competency in Fleet Management, and the expansion in international trades are all important aspects driving the Fleet Management Industry Forward. Due to benefits such as quick access and response, wide-area coverage, and cost reduction, wireless technology adoption in fleet management is projected to have a significant impact in the near future, allowing vendors to boost their productivity, efficiency, and ROI. Furthermore, cost sensitivity among local players is predicted to drop during the analysis period, since average selling costs of fleet management software and communication technology are expected to fall.

Key Players:

The prominent players of the Fleet Management Market are TomTom N.V., U.S. General Services Administration, Fleetmatics Group PLC, Telogis, Freeway Fleet Systems, IBM Corporation, AT&T Inc., Navico, Grupo Autofin de Monterrey, I.D. Systems, MiTAC International Corporation, Cisco Systems, Trimble Transportation & Logistics, Uber Technologies, Didi Chuxing, Grab, Scope Technologies, Troncalnet, FAMSA, Ola Cabs, DC Velocity, Fleet Robo Fleet Management Solutions, European GNSS Agency (GSA),

Market Drivers:

Every industry strives for maximal output at the lowest possible cost. Fleet costs account for a significant amount of a company's operational expenses for fleet management. By optimising routing, maintaining vehicle security, promoting driver safety, and improving fleet vehicle performance and life cycle, fleet management solutions help fleet owners improve profit. It also aids in the visualisation of fleet performance and the identification of which drivers or cost-cutting categories should be prioritised for development. Fleet management assists managers in right-sizing fleet cars, maintaining them, minimising fuel prices and distance travelled, changing driver behaviour, and lowering overhead costs. For fleet owners, the advantages increase the cost-effectiveness of business operations, giving them a competitive advantage. The benefits have boosted the business potential of fleet management solutions and increased investment inflow into the market.

Restraint:

One of the biggest issues preventing GPS connectivity is atmospheric inference. For the GPS system to work, it must provide an accurate location. The most up-to-date navigation service, such as Google Maps, also provides a 3-10 metre accurate location. These services also perform best under particular parameters, such as customers being in optimum conditions, being outdoors rather than indoors, being in a metropolis, and having strong internet access. To reach the cell phone, the GPS signal must travel vast distances through the atmosphere and pass through several satellites. Receiving data from at least 3-4 satellites and up to 7-8 satellites is required to obtain accurate data. Large structures in towns, forests, mountains, ridges, and other natural obstacles also exist. In summary, obtaining a precise GPS signal gets more difficult.

Market Segmentation:

Type by type:

Light Commercial Vehicle, Heavy Commercial Vehicle, Aircraft, Railway, and Watercraft are the types of vehicles that make up the Fleet Management Market.

By Component:

Solution (Driver Management Solution, Operation Management Solution, Driver Management Solution) and Services (After-Sales Services, Claim Inspection Services, Vehicle Tracking/Follow-Up Services, Customer Relationship Management (CRM)) are the two components that make up the Fleet Management Market.

By use of technology:

The GNSS (Satellite) and Cellular System technologies are used to segment the Fleet Management Market.

End-Users' Perspectives:

Retail, Transportation, Logistics, Automotive, Construction, Oil, Gas, and Energy, Manufacturing, Government, Research and Development, and Consultancy organisations are the end-users of the Fleet Management Market.

Regional Analysis:

North America, Europe, Asia-Pacific, and the Rest of the World are the regions that make up the Fleet Management Market.

In the growing Fleet Industry Market in North America, the government plays a critical role. North America promises a substantial market in the industrial expansion of the Fleet Management System due to rigorous rules and regulations against defaulters of air pollution contributors due to vehicle emissions.Due to the importance of the fleet management business in the region, Europe is also in the race to attain highly efficient electric vehicles in the future years.Because of expanding countries like China, India, and others, where pollution is higher and people are opting for more vehicles with lower emissions, Asia-Pacific has emerged as the fastest-growing economy for the Fleet Management Market in recent years.

Covid-19 Impact:

The implementation of nationwide lockdown by governments around the world in response to the Covid-19 pandemic has had a negative impact on the Fleet Industry, which is responsible for transporting daily essentials such as groceries, medicines, and other essential products from one region to another.

Because to the global lockdown in response to the Covid-19 epidemic, the supply of automotive components has been hampered, putting the transportation fleet's maintenance at risk. As a result, emergency delivery transportation is expected to be hampered, stifling the expansion of the Fleet Management Market.

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