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Pulished Date February, 2020
ID: 8530
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Global Fleet Management Market Research Report – Segmentation by Solution (Operations Management, Vehicle Maintenance and Diagnostics, Performance Management, Fleet Analytics and Reporting), Service (Professional and Managed), Deployment Type (Cloud and On-Premise), Transport Mode (Roads, Seaways, Railways), and Region - Forecast to 2025

Pulished: February, 2020
ID: 8530
Pages: 170

Global Fleet Management Market Size & Growth (2020 – 2025)

The size of the global fleet management market is expected to reach $ 44.12 million by 2025, up from $ 24.05 billion in 2019, developing at a compound annual growth rate of 24.5% from 2020 to 2025.

Fleet management is considered as a process of managing the fleet of automobiles in an organization. The improper maintenance of a fleet of vehicles can lead to a negative effect on business operations. Fleet management usually contains vehicles like automobiles, trucks and corporate fleets, commercial and freight aircraft, buses, trams, and container ships. It also promotes activities like tracking of automobiles, diagnostics, and updates information about driver behavior. Of these, vehicle monitoring and diagnostics further involve the management of risks, fuel supervision, telematics, and accident management. Fleet management has found extensive applications in end-users like oil and gas, mining, construction, chemicals, retail and logistics, public and private transport, utilities, waste management and services, and others.

Fleet management enables companies to track and maintain their vehicles profitably, quickly, and affordably. It helps business organizations that rely heavily on transportation to reduce or completely eliminate the risks associated with the cost of personnel, operations, and others. The benefits of fleet management are reduced overall operating and fuel costs, improved safety, and optimized fleet operations, with real-time monitoring and surveillance of the fleet.

Recent Developments:

  • Fleetonomy focuses on providing a cloud-based fleet management service for automakers, car rental companies, and carpoolers.
  • Chevin has launched a SaaS package designed to take on the core responsibilities of fleet management, maintenance, and compliance. Some of the other main players in this industry are AT&T Inc. and Cisco Systems.
  • Cisco Jasper launched a platform for automated mobility management, namely Control Center for Mobile Enterprise, which automates the management of enterprise mobile services and devices.

Market growth and trends:

Driver management is expected to retain a significant share in the coming years.

  • Driver management framework in fleet management solutions contains applications such as driver registration, insurance risk management, and analysis. The main reason for driver management systems is to study driver behavior and make necessary changes to driving styles, which will reduce fuel consumption and improve vehicle maintenance.
  •  These systems promote better driving behavior and continually send comments indicating the driving style, with alerts. Organizations adopt this solution because it saves fuel, reduces maintenance costs, and gives them confidence in vehicle and customer management.
  • According to a recent safety report by Volvo Trucks, more than 90% of worldwide mishaps were caused by human factors. The investigation indicates that more than 13% of the accidents caused the death of occupants of heavy vehicles. These statistics pave the way for the tremendous growth opportunities in the global fleet management market.

Drivers and Market Restraints:

The progressions in the global fleet management market are driven by the increase in the incorporation of real-time fleet monitoring systems in automobiles, the increase in the use of cloud technology for smart fleet management solutions, and improved supervision in vehicle, and fuel management. Large and medium-scale fleet owners are implementing these fleet management solutions broadly to streamline operations. The adoption rate among small fleet owners has been slow, due to factors such as lack of knowledge, limited scale of operations, smaller budgets, less compliance standards, high demands on increased capital, and operating costs.

Furthermore, the advent and integration of IoT and Information, Communication, and Technology (ICT) in sectors such as automotive, logistics and transportation are driving the market growth. In addition, continuous driver behavior monitoring, automotive tracking, real-time visibility, driver management, and so on have resulted in significant market growth. Growth in the vehicle replacement market and increased international trade are driving this market growth. However, fleet owners' concerns about pricing and cybersecurity issues are hampering industry growth. Awareness of increased driver and vehicle safety and better business decisions for fleet owners is expected to provide lucrative opportunities for fleet management companies in the near future.

The significant factor driving the growth of the global fleet management market is increased government regulations. Other factors promoting this industry growth involve lower expenses related to hardware and software and the introduction of autonomous fleets.

Market segmentation:

By Solution, the global fleet management market is categorized as Operations Management, Vehicle Maintenance and Diagnostics, Performance Management, Fleet Analytics, and Reporting.

By Service, the global fleet management market is bifurcated as Professional and Managed.

Based on the Deployment Type, the market is separated into Cloud and On-Premise. Of these, the cloud segment dominated the global business and projected to account for a significant portion in the coming years.

Roads, seaways, and railways are studied in the world market on the basis of modes of transport.

Regional Analysis:

By region, the global fleet management market is studied in areas like North America, Europe, Asia-Pacific, and LAMEA. The smart fleet management market is calculated based on various traction technologies that are employed in automobiles around the world. North America and Europe are the leading contributors to the global market that are expanding with a notable rate. The Asia Pacific region is considered to register a notable share in the international marketplace due to the increasing investments by market giants in this area.

Key players in the market:

Key and emerging players in the global fleet management market are ARI Fleet Management (United States), Azuga (United States), Chevin Fleet Solutions (Australia), Ctrack (United States), Donlen Corporation (United States), Geotab (Canada ), GPS Insight (United States), Masternaut (United Kingdom), MiX Telematics (South Africa), Nextraq (United States), Teletrac Navman (United States), Trimble (United States), Verizon Connect (United States), Wheels, Inc (United States) and Fleetroot (United Arab Emirates). These players have adopted various strategies to develop themselves in the global fleet management market. We rate and list these fleet management software (FMS) based on product quality, reliability, and business strategy.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Fleet Management Market, By Solution                        

                                6.1.1 Operations Management 

                                6.1.2 Vehicle Maintenance and Diagnostics         

                                6.1.3 Performance Management             

                                6.1.4 Fleet Analytics and Reporting         

                                6.1.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.6 Y-o-Y Growth Rate Analysis             

                                6.1.7 Market Attractiveness Index          

                6.2 Fleet Management Market, By Service                          

                                6.2.1 Professional           

                                6.2.2 Managed 

                                6.2.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

                6.3 Fleet Management Market, By Deployment Type                    

                                6.3.1 Cloud         

                                6.3.2 On-Premise            

                                6.3.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.4 Y-o-Y Growth Rate Analysis             

                                6.3.5 Market Attractiveness Index          

                6.4 Fleet Management Market, By Transport Mode                        

                                6.4.1 Roads        

                                6.4.2 Seaways   

                                6.4.3 Railways   

                                6.4.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.5 Y-o-Y Growth Rate Analysis             

                                6.4.6 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Solution              

                                7.2.3 By Service

                                7.2.4 By Deployment Type          

                                7.2.5 By Transport Mode             

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Solution              

                                7.3.3 By Service

                                7.3.4 By Deployment Type          

                                7.3.5 By Transport Mode             

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Solution              

                                7.4.3 By Service

                                7.4.4 By Deployment Type          

                                7.4.5 By Transport Mode             

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Solution              

                                7.5.3 By Service

                                7.5.4 By Deployment Type          

                                7.5.5 By Transport Mode             

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Solution              

                                7.6.3 By Service

                                7.6.4 By Deployment Type          

                                7.6.5 By Transport Mode             

8. Key Player Analysis                                    

                8.1 ARI Fleet Management                         

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Chevin Fleet Solutions                           

                8.3 Donlen Corporation                

                8.4 Geotab                         

                8.5 MiX Telematics                         

                8.6 Nextraq                       

                8.7 Trimble                         

                8.8 Verizon Connect                      

                8.9 Wheels, Inc                

                8.10 Fleetroot                   

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Solution, Services, Deployment Type, Transport Mode, Region along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Fleet Management Market By Region, From 2020-2025 ( USD Billion )
  2. Global Fleet Management Market By Solution, From 2020-2025 ( USD Billion )
  3. Global Operations Management Market By Region, From 2020-2025 ( USD Billion )
  4. Global Vehicle Maintenance and Diagnostics Market By Region, From 2020-2025 ( USD Billion )
  5. Global Performance Management Market By Region, From 2020-2025 ( USD Billion )
  6. Global Fleet Analytics and Reporting Market By Region, From 2020-2025 ( USD Billion )
  7. Global Fleet Management Market By Service, From 2020-2025 ( USD Billion )
  8. Global Professional Market By Region, From 2020-2025 ( USD Billion )
  9. Global Managed Market By Region, From 2020-2025 ( USD Billion )
  10. Global Fleet Management Market By Deployment Type, From 2020-2025 ( USD Billion )
  11. Global Cloud Market By Region, From 2020-2025 ( USD Billion )
  12. Global On-Premise Market By Region, From 2020-2025 ( USD Billion )
  13. Global Fleet Management Market By Transport Mode, From 2020-2025 ( USD Billion )
  14. Global Roads Market By Region, From 2020-2025 ( USD Billion )
  15. Global Seaways Market By Region, From 2020-2025 ( USD Billion )
  16. Global Railways Market By Region, From 2020-2025 ( USD Billion )

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