Global Transportation and Fleet Management Solutions Market 2023-2030

Global Transportation and Fleet Management Solutions Market 2023-2030

Global Transportation and Fleet Management Solutions Market Size, Share & Trends Analysis Report by Deployment Type (On-premise, On-Demand and Hybrid), by Application (Asset Management, Driver Management, Safety and Compliance Management, Information Management, Operations Management and Other Solutions), and by End-User (Transportation, Health and Pharmaceuticals, Energy, Construction, Manufacturing and Others), Forecast Period (2023-2030)

The global transportation and fleet management solutions market is anticipated to grow at a significant CAGR of 16.3% during the forecast period. The existence of stringent government regulations, rising number of vehicles and asset theft and increasing cases of road accidents fueled the demand for transportation and fleet management solutions market. According to the World Health Organization 2022, the lives of approximately 1.3 million people die as a result of a road traffic crashes each year. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of the injury. More than half of all road traffic deaths are among vulnerable road users including pedestrians, cyclists, and motorcyclists. Such road accidents can be minimized by the proper usage of transportation and fleet management solutions. Therefore, there exist a high demand for these solutions in the market.

Segmental Outlook

The global transportation and fleet management solutions market is segmented based on the deployment type, solution type, and end-user. Based on the deployment type, the market is sub-segmented intoon-premise, on-demand and hybrid. Based on solution type, the market is sub-segmented into asset management, driver management, safety and compliance management, information management, operations management and other solutions (risk management). Further, based on end-user, the market is sub segmented into transportation, health and pharmaceuticals, energy, construction, manufacturing and others (mining, utilities). Among the deployment type, on-premise sub-segment is anticipated to hold a considerable share of the market, owing to the data security and control, and allow for more customization and integration.

Transportation Sub-Segment is Anticipated to Hold a Prominent Share intheGlobal Transportation and Fleet Management Solutions Market

Among the end-user, transportation sub-segment is anticipated to hold a considerable share of the market, owing to the globalization and supply chain complexity and growing adoption of integration of technologies such as IoT, AI, and autonomous vehicles is transforming the transportation industry. Thus, the market players are also focusing on developing new and advanced products for catering to the growing demand across the globe. For instance, in November 2021, Element Fleet Management Corp., launched the element connectivity solutions, the diverse ecosystem of telematics products, services and strategic alliances in the fleet management industry. Through this ecosystem, the company introduced two new products, QConnect and DriverCareCoPilot, for fleet operators seeking OEM-embedded and mobile device vehicle connectivity solutions.

Regional Outlook

The global transportation and fleet management solutions market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).Among these, Asia-Pacific is expected to grow considerably over the forecast period, owing to the increasing infrastructure development projects, and growing adoption of smart city initiatives.

Europe Held a Prominent Share in the Global Transportation and Fleet Management Solutions Market

Among all regions, Europe held a prominent share of the global transportation and fleet management solutions market. Major economies such as the UK, Germany, France, Italy, and Spain have huge potential for adopting transportation and fleet management solutions. Of these, Germany is the largest automotive hub. The market growth in the region is attributed to the pivotal factors such as rising adoption of stringent emission regulations to address environmental concerns and the advancement of technologies such as IoT, and telematics, has transformed the way fleet management is conducted in this region. Therefore, the transportation and fleet management solutions manufacturers are actively adopting new technically advanced solutions such as fleet management solutions, telematics solution and also entering into strategic partnerships and collaborations with the another players to cater the demand for transportation and fleet management solutions in the European market.

For instance, in June 2022, Geotab, a global provider of IoT and connected transportation solutions, collaborated with Renault to combine its vehicles' telematics capabilities with the MyGeotab fleet management platform. This platform offered a single point of access for fleet operators to make informed decisions and provide connectivity solutions to fleets of any size. Renault models built in 2010 or later and get a factory-fitted or retrofitted telematics solution for vehicles in the field. As a result, users got advantages from first-hand, high-quality OEM data aggregated in the powerful, vendor-neutral MyGeotab platform to manage the entire fleet. The new telematics solution was available immediately in 21 European countries, including France, Germany, Spain, Italy, the UK and Ireland.

Market Players Outlook

The major companies serving the global transportation and fleet management solutions market include Cisco Systems Inc., AT&T Inc., Ctrack (Inseego Corp.), I.D. Systems, IBM Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, BlackBerry Ltd., collaborated with the McLeod Software, a transportation management system provider, to provide transport and logistics companies with better fleet visibility.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global transportation and fleet management solutions market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.