Fleet Management Market to Reach USD 15.9 Billion in 2024, Predicts Forencis Research

Fleet management is an administrative approach that allows companies to organize and coordinate work vehicles with the aim to improve efficiency, reduce costs, and provide compliance with government regulations. While most commonly used for vehicle tracking, fleet management includes following and recording mechanical diagnostics and driver behaviour.

Fleet management is used by couriers, oil and gas delivery, utilities, repair and service industry businesses to ensure responsible vehicle use, confirm safety and enable real-time tracking. Although commonly associated with delivery cars and trucks, the boating industry uses fleet management technology as well.

The global fleet management market is estimated to grow from USD 15.9 Billion in 2019 to USD 32.5 Billion in 2024 at a CAGR of 15.4%. The factors responsible for the growth of the fleet management market include increasing focus on operational efficiency and supportive governmental regulations. Other supportive factors include significant growth in fleet management solutions owing to declining IoT connectivity costs and increasing emphasis on cloud computing and data analytics. The market is expected to register a healthy growth rate during the forecast period.

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Fleet Management Market: Trends, Segmentation & Drivers

This market research report offers a comprehensive analysis of key market trends in the Global Fleet Management market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. The primary types/elements of Global Fleet Management that are covered in the report include by Solutions and by Services. For opportunity analysis, the end-users/application that are covered in the report are Commercial Fleets and Passenger Cars. The regional analysis is covered under five major regions such as North America, South America, Europe, APAC, and the Middle East and Africa, with individual country-level analysis.

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Fleet Management Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Fleet Management Market by Element Solutions

·         Operations Management

·         Tracking and Geofencing

·         Routing and Scheduling

·         Fleet Maintenance and Diagnostics

·         Performance Management

·         Driver Management

·         Fuel Management

·         Fleet Analytics

·         Others

Services

·         Professional Services

·         Consulting

·         Operation

·         Support & Maintenance

Fleet Management Market by Fleet Type

·         Commercial Fleet

·         Passenger Cars

Fleet Management Market by Region

·         APAC

·         China

·         Japan

·         South Korea

·         India

·         Indonesia

·         Rest of APAC

·         North America

·         US

·         Canada

·         Mexico

·         Europe

·         Germany

·         France

·         Italy

·         Turkey

·         Russia

·         Rest of Europe

·         Middle East and Africa

·         Saudi Arabia

·         UAE

·         Rest of Middle East & Africa

·         South America

·         Brazil

·         Argentina

·         Rest of South America

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