Fleet Management Trends, Growth, Size, Analysis, Professional Survey & Forecast 2023-2030
According to MRFR analysis, the global Fleet Management market is expected to register a CAGR of ~11% from 2022 to 2030 and hold a value of over USD 37 billion by 2030.
Fleet management is the coordination and management of a company’s vehicle fleet, which typically includes cars, trucks, and other vehicles. Fleet management involves tasks such as vehicle maintenance, fuel management, vehicle tracking, and driver management, among others. The goal of fleet management is to optimize the performance and efficiency of a company’s vehicle fleet, reduce costs, and improve safety.
The COVID-19 pandemic has had a significant impact on the fleet management industry. With lockdowns and social distancing measures reducing the number of people on the road, many companies have had to reduce their fleet sizes and make other changes to their fleet management operations. At the same time, the pandemic has led to increased demand for delivery services, as more people shop online and avoid crowded indoor spaces. This has resulted in increased pressure on fleet management companies to manage delivery vehicles efficiently and cost-effectively and to ensure the safety of drivers and customers.
North America is one of the largest markets for fleet management and has a significant market share globally. The region has a well-developed transportation infrastructure and a large number of businesses that rely on vehicle fleets, both of which have driven demand for fleet management services. Additionally, the region’s strong economy and supportive regulatory environment have made it a favorable market for fleet management companies, further boosting demand for these services.
Fleet Management Market Technological Advancement:
The fleet management market has been undergoing significant technological advancements in recent years, driven by the increasing demand for efficient and cost-effective fleet operations, as well as advancements in technology such as the Internet of Things (IoT), artificial intelligence (AI), and cloud computing. Some of the major technological advancements in the fleet management market include:GPS Tracking: GPS tracking devices are being widely used in fleet management to track the real-time location and movement of vehicles. This helps fleet managers to optimize routes, reduce fuel consumption, and improve the overall efficiency of their fleet operations.
Some of the key market players are TomTom N.V. U.S., Fleetmatics Group PLC, General Services Administration, Freeway Fleet Systems, IBM Corporation, Telogis, AT&T Inc., Grupo Autofin de Monterrey, and Navico I.D. The system, MiTAC International Corporation, Trimble Transportation & Logistics, Didi Chuxing, Grab, Cisco Systems.