The global fleet management software market is anticipated to expand at a considerable CAGR during the forecast period, 2020–2026. This growth is attributed to the rapid technological advancements in the automotive industry, rising industrialization and government initiatives.
Fleet Management involves a series of diverse tasks for businesses who rely on transportation, controlling costs, productivity, efficiency and risks in vehicle acquisition, fuel management, compliance and more. Fleet Management is a function which allows companies which rely on transportation in business to remove or minimize the risks associated with vehicle investment, improving efficiency, productivity and reducing their overall transportation and staff costs, providing 100% compliance with government legislation and many more.
Fleet management software is a solution that enables businesses and organization to manage, organize, and coordinate their fleet vehicles from a centralized data platform. The main objective is to maintain the operation of the fleet very smoothly by lowering expenses, enhancing efficiency and ensuring compliance with public regulations. Increasing ecommerce sector and cab services that have significantly increased the need for efficient fleet management solutions.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising industrialization is leading to the demand for a large number of high capacity vehicles for large-scale transport and shipment of goods and services in several countries across the world and thus is fueling the growth of the market.
- Demand from the end-user industries for real time tracking of the fleet, cloud-based fleet management software solutions deployment is fueling the growth of the market.
- Increasing government investment in the automotive fleet management sector also is driving the growth for the market.
- Maintenance of an entire fleet of vehicles requires high cost and space which is a key restraint of the market.
- Increasing sales of vehicles in the retail segment is expected to restrain the automotive fleet market in the near future, thus hampering market growth.
- Adoption of telematics to integrate connected data into fleet management to bring about vehicle connectivity benefits is going to foster the growth of the market during the forecast period. This will reduce the cost and provide increased safety.
Major companies in the global fleet management software market include TeleNav, TomTom, Trimble, Cisco Systems Inc., Verizon Telematic, AT&T, Donlen, Geotab, Masternaut, I.D. Systems, Merchants Fleet, IBM Corporation, Omnitracs,Teletrac Navman, WorkWave.
The global fleet management software market has been segmented on the basis of
- Operations Management
- Driver Management
- Vehicle Maintenance & Diagnostics
- Safety & Compliance Management
- Performance Management
- Fleet Analytics and Reporting
- Passenger Vehicles
- Commercial Vehicles
- Transportation & Logistics
- Mining and Construction
- Energy Sector
- Others (Manufacturing etc.)
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Fleet Management Software Market Overview
- Global Fleet Management Software Market Analysis and Forecast by Type
- Global Fleet Management Software Market Analysis and Forecast by Application
- Global Fleet Management Software Market Analysis and Forecast by Sales Channel
- Global Fleet Management Software Market Analysis and Forecast by Region
- North Fleet Management Software Market Analysis and Forecast
- Latin Fleet Management Software Market Analysis and Forecast
- Europe Fleet Management Software Market Analysis and Forecast
- Asia Pacific Fleet Management Software Market Analysis and Forecast
- Middle East & Africa Fleet Management Software Market Analysis and Forecast
- Competition Landscape
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