The global fleet management market size was estimated at USD24.95 Billion in 2022 and is projected to pass USD55.10 Billion by 2030, registering a CAGR of 11% from 2022 to 2030.
Fleet management is the management of commercial vehicle operations at a larger
scale. It can be defined as the procedures exercised by fleet managers to
watch fleet activities and make decisions from asset management, dispatch &
routing, and vehicle acquisition.
Businesses that depend on transportation use fleet
management to regulate costs, productivity, fuel management, and compliance.
so, fleet managers are accountable for maintaining costs, maximizing
profitability, and reducing fleet vehicle risks. also, it involves vehicle
financing, driver management, and vehicle telematics related to watercraft,
aircraft, commercial vehicles (LCVs & HCVs), and railways.
In addition, fleet management offers financial
management, improved safety of vehicles & drivers, and operational ability
with real-time fleet tracking analysis. Most fleet managers exercise fleet
management software to upgrade overall fleet safety, and client services and
boost visibility & profitability with process management & research.
Key Players
The major players operating in the fleet
management market are:
TomTomN.V.U.S,
General Services Administration,
Fleetmatics Group PLC,
Telogis, Freeway Fleet Systems,
IBM Corporation,
AT&TInc.,
Navico,
Grupo Autofin de Monterrey,
snare,
Scope Technologies,
Troncalnet,
FAMSA,
Regional Analysis
North American region held the highest revenue
share in 2022. The government of this region has played an extremely eloquent
job in escalating the market for fleet management in recent years. The strict
regulations and rules in the North American region have successfully reduced
the number of emissions that come through the operation of vehicles. And to
reduce the pollution caused by vehicles the strict regulations are compelling
the industry to stick to the policies. This region is anticipated to contribute
well to the growth of the fleet management market during the forecast period.
Due to the presence of countries like China as
well as India in the Asia Pacific region this region is anticipated to flaunt
maximum growth in fleet management in the nighing years. Augmented
international trade has also been essential in the growth of the market in the
Asia Pacific region in recent years.
This region is anticipated to grow at the topmost
compound yearly growth rate in the nighing years owing to the favorable
policies embraced by the government of several regions to support the trade.
The demand for vehicles that produce less pollution has increased in the Asia
Pacific region as though pollution in these countries is more due to the
population eruption.
To have better efficiency in electric vehicles,
Europe is anticipated to play an eloquent part in the coming years. This region
is anticipated to contribute well to the growth of the fleet management market
during the forecast.
Market Segmentation
The global fleet
management market is segmented by
• Type
The Market is segmented by type as Light Commercial Vehicles, Heavy Commercial
Vehicles, Aircraft, Railway, and Watercraft.
• Component
The Market is segmented by elements such as Solutions( Driver Management
Solution, Operation Management Solution, Driver Management Solution) and
Services( After- Sales Services, Claim Inspection Services, Vehicle Tracking/
Follow- Up Services, and Customer Relationship Management( CRM)).
• Technology
The Market is segmented by technology similar to GNSS( Satellite) and Cellular
Systems.
• End-Users
The Market is segmented by end-users as Retail, Transportation, Logistics,
Automotive, Construction, Oil, gas, energy, Manufacturing, Government, Research
and Development, and Consultancy firms
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