The global fleet management market size is expected to growfrom USD 19.9 billion in 2020 to USD 34.0 billion by 2025, at a Compound AnnualGrowth Rate (CAGR) of 11.3% during the forecast period. The growth of themarket can be attributed to the cost benefits versus Software-as-a-Service(SaaS) and cloud-based deployments of fleet management solutions. The primaryfactors driving the growth of fleet management market include the increasinggovernment regulations and need for optimization of fleet operating expenses.The other factors supporting the market growth include the decreasing hardwareand software costs and growing need for operational efficiency among fleetowners.
The research report categorizes the fleet management marketto forecast the revenues and analyze trends in each of the followingsubsegments:
Vehicle Maintenance and Diagnostics
Fleet Analytics and Reporting
Others (crash management and toll management)
By Fleet Type:
In May 2020, Geotab collaborated with Webfleet Solutions tolaunch new commercial mobility recovery dashboard. Users leveraged thisdashboard to understand how specific industries have been impacted, such asconstruction, business services and transport logistics. Also, they couldanalyze data from more than 3 million connected vehicles around the world tohelp visualize the impact of COVID-19 on commercial vehicle activity andsupport strategic recovery efforts.
In March 2020, Azuga has partnered with Service Roundtableto offer comprehensive fleet management and GPS tracking for contractors,electricians, service, and repair industries.
In February 2020, Masternaut, a Michelin Group Companypartnered with Fraikin, the largest commercial vehicle fleet services companyin Europe to provide connected fleet management tools and services to one ofthe big four supermarket’s 3,000 online order delivery vehicles in the UK.
In January 2020, GPS Insight acquired Chicago-based ServiceBridge,a leading field service management software company to broaden the scope of theGPS Insight software portfolio in order to deliver more comprehensive solutionsto its expanding customer base.
In October 2019, Donlen launched new DonlenDriver applicationthat increases driver productivity. This application gave drivers easy accessto the tools they need to successfully complete their jobs.
In August 2019, ARI launched an all-new interactive videoexperience for fleet stakeholders to help them successfully navigate theircomplex business challenges. The interactive video experience atFleetIsAnInvestment.com guided viewers on a dynamic journey covering the keylifecycle phases of a fleet vehicle – buy, drive, service, and sell.
Critical questions the report answers:
Where will all these developments take the industry in thelong term?
What are the upcoming trends for the fleet managementmarket?
Which segment provides growth opportunities?
Who are the leading vendors operating in this market?
What are the opportunities for new market entrants?
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