Fleet Management Systems Market Size, Share, Growth Report 2032

The global Fleet Management Systems Market accrued earnings worth approximately 30.01 (USD Billion) in 2020 and is predicted to gain revenue of about 50.11 (USD Billion) by 2028, is set to record a CAGR of nearly 20.3% over the period from 2021 to 2028. The report offers assessment and analysis of the Fleet Management Systems Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Fleet Management Systems Market: Outlook

Fleet management system includes managing of ship, aviation equipment, commercial motor vehicles, rail cars, private vehicles, and non-powered vehicle systems. In addition to this, fleet management comprises of array of functionalities including vehicle maintenance, supply chain management, financing, licensing & compliance, vehicle leasing, accident management & vehicle telematics, speed management, fuel management, driver management, and health & safety management. Moreover, fleet management systems helps firms in transportation industry to minimize risks related to vehicle investment, enhance productivity, reduce transport & staff expenses, and improve efficiency.   

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Fleet Management Systems Market: Growth Drivers

Surge in acceptance of wireless technology, rise in global trade, and necessity of improving operational efficiency in fleet management activities will steer growth of fleet management systems market. Escalating need of enhancing fleet efficacy and massive use of vehicle telematics by fleet operators will proliferate size of fleet management systems industry. In addition to this, increase in acceptance of cloud computing & analytics, reduction in costs of hardware & IoT connectivity, necessity of improving operational proficiency, and favorable government mandates will spur fleet management systems industry growth. Many of fleet firms are adopting green initiatives for reducing         ecological impact and improving fleet efficiency, thereby driving market trends.

Furthermore, introduction of new technology and entry of new firms in industry is projected to magnify expansion of fleet management systems market size. Growing requirement of fleet management systems in passenger & commercial vehicles are likely to produce new growth avenues for fleet management systems market.

Global Fleet Management Systems Market: Report Scope:

Regional Insights

North America To Contribute Majorly Towards Overall Market Size By 2028

Growth of fleet management systems market in North America over forecast timespan is subject to use of connected systems as well as connected vehicle tools for addressing concerns pertaining to vehicle tracking. Surge in online banking & payment solution firms in region along with launching of new payment services for vehicle fleets will steer growth of fleet management systems market in North America. Rise in presence of firms such as The Boeing Company, Airbus SE, and Bombardier Inc. will create lucrative avenues for fleet management systems industry in North America over forecasting timeline.

Competitive Landscape

Key players profiled in report and influencing growth of fleet management systems industry are Cisco Systems, Inc., ABB Ltd., TomTom N.V., Telogis, Navico, MiTAC International Corporation, AT&T Inc., Fleetmatics Group PLC, IBM Corporation, Freeway Fleet Systems, I.D. Systems, and Honeywell International Inc.

The global Fleet Management Systems Market is segmented as follows:

By Vehicle

• Commercial Vehicle
• Aircrafts
• Railways
• Watercrafts

By Component

• Solution
• Service

By Technology

• GNSS
• Cellular Systems

By End-Use Industry

• Automotive
• Energy & Utilities
• Manufacturing
• Retail
• Government Sector
• Construction

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa