
Commercial Vehicle Fleet Management
Description
Commercial Vehicle Fleet Management
The global commercial vehicle fleet management market has witnessed substantial growth in terms of revenue, driven primarily by the software sectors. In 2022, the market was valued at USD 8.78 billion, and it is projected to reach USD *** billion by the year 2028, representing a remarkable compound annual growth rate (CAGR) of 19.0% during the forecast period.
A fleet management solution (FMS), whether in the form of standalone software or a cloud-based platform, facilitates centralized coordination and improvement of fleet-related operations. FMS enables fleet managers to oversee and optimize their primary administrative responsibilities, organize supply chain and inventory records, and automate end-to-end fleet management processes. Key functions of an FMS include streamlining control of fleet-related activities within a single integrated system, organizing supply chain logistics, and digitizing equipment stocktaking. Through a unified approach, fleet management solutions enable executives to efficiently manage their most critical duties, standardize supply procedures, and digitally transform fleet administration workflows from initial planning through final execution.
The global commercial vehicle fleet management market categorized by solution, for the respective periods: real time location tracking, fuel management, asset management, driver management, maintenance management, and others. In terms of solution, the real time location tracking segment dominated the market studied in 2022, holding a substantial share of ***%. Furthermore, the driver management segment is anticipated to exhibit the highest compound annual growth rate (CAGR) of ***% during the forecast period from 2023 to 2028. Real-time location monitoring via GPS allows for tracking a vehicle's status, enabling fleet managers to receive alerts on abnormal driver behavior and ensure safety and efficiency. GPS trackers also provide detailed diagnostic information. Navigation systems and location intelligence can offer safer routes to protect drivers from hazardous road conditions, optimizing routes by utilizing geospatial and weather data.
Commercial fleet management uses hardware like remote dashboards, control devices, and sensors to track location, activate systems, and ensure security. This hardware allows remote control of commercial fleet vehicles, real-time location monitoring, and error tracking. Software was the primary revenue contributor, accounting for ***% of the sales value share in 2022. Fleet management software firms must offer advanced services to improve their business. Leading companies like Verizon, TomTom, Zebra Technologies, and AT&T provide such services.
The commercial vehicle fleet management market can be categorized into two deployment modes, namely cloud and on-premises. The segment pertaining to cloud deployment mode has witnessed a substantial revenue of $*** billion in 2022. Cloud-based software is cost-effective and offers analytical solutions for fleet monitoring. IoT integration has driven market growth, enhancing data collection and communication. Cloud-based software is integrated into vehicles for real-time information. Asia-Pacific and North America use cloud-based software for quality tracking, driving effectiveness through vendor-provided solutions. This software enhances efficiency and emphasizes intelligent transportation, driving revenue growth.
In terms of geography, the North America emerged as the dominant player, capturing a significant share of ***% in the market studied in 2022. The valuation of the North America amounted to USD *** billion in 2022 and is projected to reach USD *** billion by 2028. Conversely, the Asia-Pacific region is anticipated to exhibit a higher compound annual growth rate (CAGR) of ***% during the forecasted period from 2023 to 2028. Corporate fleets drive North America's commercial fleet market. The growing demand to reduce the overall cost of corporate fleets is a significant factor driving the North American fleet management market. Fleet vehicle companies are increasingly outsourcing the management of their fleets to minimize the operational costs of their fleet vehicles. The region's fleet market is driven by electronic logging device mandates and rising commercial fleets. Notably, OEMs have introduced fleet telematics in their vehicles.
Advanced, reliable, and affordable technologies collect and disseminate vehicle data and video footage cost-effectively. GPS positioning and advanced onboard systems provide real-time information for driver and vehicle management. Cloud computing, enabled by network, computing, and data storage advancements, drives demand for subscription-based fleet and mobile asset management solutions players.
Prominent vendors shaping competitive dynamics include AT&T Inc., Verizon Communications Inc., Zebra Technologies Corp., Trimble Inc., PowerFleet, Inc., MiX Telematics Limited, Teletrac Navman US Ltd., TomTom N.V., Cisco Systems, Inc., Geotab Inc., Gurtam Inc., Wheels Inc., Queclink Wireless Solutions Co., Ltd., Inseego Corp., IBM Corporation, Omnitracs, LLC, MiTAC Holdings Corporation, CalAmp Corp., Samsara Inc., among other players.
Table of Contents
110 Pages
- FIGURES AND TABLES
- Part 1. Key Findings
- Part 2. Scope and Methodology
- Report Scope
- Solution
- Component
- Deployment Mode
- Vehicle Type
- End-User
- Region
- Research Methodology
- Part 3. Commercial Vehicle Fleet Management Market Overview
- Summary
- Introduction
- Industry Trends
- Part 4. Market Dynamics
- Growth Drivers and Future Trends
- Restraints and Challenges
- Opportunities
- Part 5. Global Commercial Vehicle Fleet Management Market by Solution
- Part 6. Global Commercial Vehicle Fleet Management Market by Component
- Part 7. Global Commercial Vehicle Fleet Management Market by Deployment Mode
- Part 8. Global Commercial Vehicle Fleet Management Market by Vehicle Type
- Part 9. Global Commercial Vehicle Fleet Management Market by End-User
- Part 10. Global Commercial Vehicle Fleet Management Market by Region
- Part 11. Competitive Analysis
- Competition Overview
- Recent Developments
- AT&T Inc.
- Business Overview
- Contact Information
- Verizon Communications Inc.
- Business Overview
- Contact Information
- Zebra Technologies Corp.
- Business Overview
- Contact Information
- Trimble Inc.
- Business Overview
- Contact Information
- PowerFleet, Inc.
- Business Overview
- Contact Information
- MiX Telematics Limited
- Business Overview
- Key Competitive Strengths
- Key Growth Strategy
- Contact Information
- Teletrac Navman US Ltd.
- Business Overview
- Contact Information
- TomTom N.V.
- Business Overview
- Contact Information
- Cisco Systems, Inc.
- Business Overview
- Contact Information
- Geotab Inc.
- Business Overview
- Contact Information
- Gurtam Inc.
- Business Overview
- Contact Information
- Wheels Inc.
- Business Overview
- Contact Information
- Queclink Wireless Solutions Co., Ltd.
- Business Overview
- Fleet Management Business
- Contact Information
- Inseego Corp.
- Business Overview
- Fleet Management Competitors and Customers
- Contact Information
- IBM Corporation
- Business Overview
- Contact Information
- Omnitracs, LLC
- Business Overview
- Contact Information
- MiTAC Holdings Corporation
- Business Overview
- Contact Information
- CalAmp Corp.
- Business Overview
- Contact Information
- Samsara Inc.
- Business Overview
- Contact Information
- Disclaimer
- FIGURES AND TABLES
- Global Commercial Vehicle Fleet Management Market, Net Growth, 2020-2028 (USD Billion)
- Fleet Management Process Works
- Numerous Major Challenges Confront Fleet Operators
- Global Commercial Vehicle Fleet Management Market by Solution, 2020-2028 (USD Billion)
- Benefits of Using a Fuel Management System
- Global Commercial Vehicle Fleet Management Market by Solution, CAGR Historic and Forecast, 2020-2028
- Global Commercial Vehicle Fleet Management Market by Component, 2020-2028 (USD Billion)
- Global Commercial Vehicle Fleet Management Market by Component, CAGR Historic and Forecast, 2020-2028
- Global Commercial Vehicle Fleet Management Market by Deployment Mode, 2020-2028 (USD Billion)
- Global Commercial Vehicle Fleet Management Market by Deployment Mode, CAGR Historic and Forecast, 2020-2028
- Global Commercial Vehicle Fleet Management Market by Vehicle Type, 2020-2028 (USD Billion)
- Global Commercial Vehicle Fleet Management Market by Vehicle Type, CAGR Historic and Forecast, 2020-2028
- Global Commercial Vehicle Fleet Management Market by End-User, 2020-2028 (USD Billion)
- Global Commercial Vehicle Fleet Management Market by End-User, CAGR Historic and Forecast, 2020-2028
- Global Commercial Vehicle Fleet Management Market Share by Region, 2022
- Global Commercial Vehicle Fleet Management Market by Region, 2020-2028 (USD Billion)
- Global Commercial Vehicle Fleet Management Market by Region, CAGR Historic and Forecast, 2020-2028
- North America Commercial Vehicle Fleet Management Market Share by Country, 2022
- Europe Commercial Vehicle Fleet Management Market Share by Country, 2022
- Asia-Pacific Commercial Vehicle Fleet Management Market Share by Country, 2022
- AT&T Inc. Financial Overview (USD Million)
- AT&T Inc. Revenue, by Type, 2022
- AT&T Inc. Revenue, by Segment, 2022
- AT&T Inc. Revenue, by Region, 2022
- Verizon Communications Inc. Financial Overview (USD Million)
- Verizon Communications Inc. Revenue, by Segment, 2022
- Verizon Communications Inc. Revenue, by Type, 2022
- Zebra Technologies Corp. Financial Overview (USD Million)
- Zebra Technologies Corp. Revenue, by Type, 2022
- Zebra Technologies Corp. Revenue, by Segment, 2022
- Zebra Technologies Corp. Revenue, by Region, 2022
- Zebra Technologies Corp. Revenue, by Country, 2022
- Trimble Inc. Financial Overview (USD Million)
- Trimble Inc. Revenue, by Type, 2022
- Trimble Inc. Revenue, by Segment, 2022
- Trimble Inc. Revenue, by Region, 2022
- PowerFleet, Inc. Financial Overview (USD Million)
- PowerFleet, Inc. Revenue, by Segment, 2022
- PowerFleet, Inc. Revenue, by Region, 2022
- MiX Telematics Limited Financial Overview (USD Million)
- MiX Telematics Limited Revenue, by Segment, 2023
- MiX Telematics Limited Revenue, by Region, 2023
- TomTom N.V. Financial Overview (EUR Million)
- TomTom N.V. Revenue, by Products and Services, 2022
- TomTom N.V. Revenue, by Segment, 2022
- TomTom N.V. Revenue, by Timing of Revenue Recognition, 2022
- TomTom N.V. Revenue, by Region, 2022
- Cisco Systems, Inc. Financial Overview (USD Million)
- Cisco Systems, Inc. Revenue, by Segment, 2022
- Cisco Systems, Inc. Revenue, by Region, 2022
- Queclink Wireless Solutions Co., Ltd. Financial Overview (CNY Million)
- Queclink Wireless Solutions Co., Ltd. IoT Terminal Sales, and Production (Thousand Units)
- Queclink Wireless Solutions Co., Ltd. Revenue, by Segment, 2022
- Queclink Wireless Solutions Co., Ltd. IoT Business Revenue, by Product, 2022
- Queclink Wireless Solutions Co., Ltd. Revenue, by Region, 2022
- Inseego Corp. Financial Overview (USD Million)
- Inseego Corp. Revenue, by Segment, 2022
- Inseego Corp. Revenue, by Region, 2022
- IBM Corporation Financial Overview (USD Million)
- IBM Corporation Revenue, by Segment, 2022
- IBM Corporation Software Revenue, by Segment, 2022
- IBM Corporation Consulting Revenue, by Segment, 2022
- IBM Corporation Infrastructure Revenue, by Segment, 2022
- IBM Corporation Revenue, by Region, 2022
- MiTAC Holdings Corporation Financial Overview (USD Million)
- The Number of Patents Held by the Company
- Leading Portable GPS Navigation Brand- Magellan
- CalAmp Corp. Financial Overview (USD Million)
- CalAmp Corp. Revenue, by Segment, 2023
- CalAmp Corp. Revenue, by Type, 2023
- CalAmp Corp. Revenue, by Goods and Services, 2023
- CalAmp Corp. Revenue, by Timing of Revenue Recognition, 2023
- CalAmp Corp. Revenue, by Region, 2023
- Samsara Inc. Financial Overview (USD Million)
- Samsara Inc. Revenue, by Segment, 2023
- Samsara Inc. Revenue, by Region, 2023
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