Fleet Management Industry Growth, Segments and Future Forecast To 2023

Fleet Management Industry Highlights

Adding to more, it has been observed that vehicle connectivity and smart transportation are progressively helping organizations with safety operations of the fleets, which is surging the demand for the same and thus, influencing the market at a higher rate.

A recently released new research by Market Research Future predicts that the global Fleet Management Industry size will be fueling up during the forecast period 2016-2023, at a CAGR of 22%, and would gain more valuation as well.

Segmentation

The segmental analysis of the global fleet management industry is done by deployment type, management, and Connectivity type.

In terms of deployment type: The market includes cloud, on-premises, and hybrid.

In terms of management type: The market includes asset management, driver management, and operation management.

In terms of connectivity Type: The market includes satellite navigation and cellular system.

By services managed services type: The market includes integration and deployment services, and professional services.

Key Players

The list of the key players operating in the global Fleet Management Industry are

Verizon Telematics Inc. (U.S.)

WorkWave LLC(U.S.)

Fleetmatics Group PLC (U.S.)

I.D. Systems, Inc. (U.S)

Zonar Systems, Inc. (U.S.)

Trimble Inc. (U.S), and Cisco Systems, Inc. (U.S.).

Regional Drivers

The global Fleet Management Industry, regionally, has been studied among the key regions of North America, Europe, Asia Pacific, and the Rest of the World (RoW).

Among these, the North American and Europe region can lead the market owing to stringent norms on vehicle emissions and huge innovations being done in the fleet management technology deployment.

The Asia-Pacific region can also be the fastest-growing region with an array of opportunities in countries such as China and India. The large scale adoption of web and mobile-based business services in these regions is the key driver for the market in the region. With this, countries such as China and India are prognosticated to accelerate the growth of the market in the upcoming years. Besides, the region has been perceiving the prevalent adoption of web and mobile-based business services, which is mostly responsible for motivating the expansion of the Fleet Management Industry in the forecast period.

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