Fleet management is a system of procedures and technologies designed to provide help to the organization and fleet managers to perform the work with the most efficient capacity. Though the process of fleet management, the fleet managers manage the asset and fleet information from acquisition to disposal. This approach enables companies to coordinate and organize their work vehicles to enhance efficiency and decrease costs. It can be dealt with by either an in-house fleet-management department or an outsourced-fleet management department. It involves various tasks to keep the vehicles and operations running efficiently & smoothly and uses technologies such as machine learning, artificial intelligence, and predictive analytics & others.

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The factors that are driving the growth of the global fleet management market include the increasing penetration of wireless technology in fleet management owing to its various benefits, including large-area coverage, fast response & access among others, and growth in the implementation of big data analytics and cloud computing solutions. In addition to this, several technological advancements such as the use of artificial intelligence, IoT, and data analytics and increasing adoption of fleet management systems in electric vehicles and medium & heavy commercial vehicles are some other major factors propelling the growth of the global fleet management market during the forecast period.

The fleet management system offers several exceptional benefits such as reduces the risk associated with the vehicle, enhances efficiency, increases productivity, ensures compliance with legislation, reduces the fuel costs, and enhances customer satisfaction. Moreover, the rising concerns related to the fleet safety, stringent government mandates for the development of new revenue streams for the vendors, and the downward trend in the cost of hardware and IoT connectivity will further increase the deployment of the fleet management system. The rising concerns of the fleet owners on the efficiency of operations and several initiatives of the green fleet in order to decrease the effect on the environment and reduce pollution are certain factors that will contribute to the growth of the global fleet management market. The factors that are responsible for restraining the growth of the global fleet management market include the rising incidences of cyber threats and challenges associated with the safety of the driver.

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Based on the deployment type, the Cloud segment is anticipated to grow at a higher CAGR over the forecast period owing to the rising implementation of cloud-based fleet management software as it enables the vehicle operators to manage the vehicle and helps to maintain the operation and safety anywhere through the use of internet-enabled devices.

Based on the fleet type, the Passenger Cars segment is expected to increase at a higher compound annual growth rate during the forecast period due to the rising adoption of electric vehicles, which is increasing the implementation of the fleet management system. The growing focus of the government to reduce the carbon emissions, rising emphasis on decreasing the fleet costs, and benefits of using fleet management in electric vehicles such as optimization of electric range from fuel efficiency, EV diagnostics, and others are some major factors driving the market growth of this segment.

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Based on the region, North America is anticipated to dominate the market during the forecast period owing to the high adoption of fleet management solutions by the fleet managers and the presence of major key players in this region. In addition to this, the rising investments by the companies in R&D activities for the development of enhanced autonomous vehicles and growth in the acquisitions among the players of fleet management are some factors surging the market growth in this region.

Various notable players operating in the market include Geotab Inc., Donlen, ARI Fleet Management Company, Inseego Corp., Teletrac Navman US Ltd, Omnitracs, Verizon, Trimble Inc., MiX Telematics, and Wheels, Inc., among others.

Key Developments:

• • In 2019, Geotab Inc. entered into a partnership with Vodafone for improving fleet management services. In this partnership, the company planned to accelerate the adoption of fleet & mobility services by combining Vodafone’s experience and reach in telematics with the company’s engineering and open platform technology.
  • In 2019, Donlen entered into a partnership with Nauto, an AI technology company, to improve the safety of commercial fleets. The company planned to expand its portfolio of extended safety and now offers an AI- solution to the customers to prevent the collisions and decrease the distraction during driving.

The global fleet management market has been segmented on the basis of component, deployment type, fleet type, and region. Based on the component, the market is segmented into solutions and services. The solutions segment is further categorized operations management, performance management, vehicle maintenance & diagnostics, fleet analytics & reporting, and others. The operations management segment is further categorized into routing & scheduling and fleet tracking & geofencing. The performance management segment is categorized into fuel management and driver management. The services segment is further categorized into managed services and professional services. The professional services segment is further categorized into consulting, implementation, and support & maintenance. Based on the deployment type, the market is segmented into the cloud and on-premises. Based on the fleet type, the market is segmented into passenger cars and commercial fleets. The passenger cars segment is further categorized into electric vehicles and internal combustion engine. The commercial fleet segment is further categorized into light commercial vehicles and medium & heavy commercial vehicles.

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Key questions answered in this research report:

• • At what pace is the global fleet management market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global fleet management market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global fleet management market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various fleet types of the fleet management market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Deployment Type, By Fleet Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Geotab Inc., Donlen, ARI Fleet Management Company, Inseego Corp., Teletrac Navman US Ltd, Omnitracs, Verizon, Trimble Inc., MiX Telematics, and Wheels, Inc. among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Fleet Management Market by Component

• • Solutions
    • Operations Management
      • Routing & Scheduling
      • Fleet Tracking & Geofencing
    • Performance Management
      • Fuel Management
      • Driver Management
    • Vehicle Maintenance & Diagnostics
    • Fleet analytics & Reporting
    • Others
  • Services
    • Managed Services
    • Professional Services
      • Consulting
      • Implementation
      • Support & Maintenance

Global Fleet Management Market by Deployment Type

• • Cloud
  • On-Premises

Global Fleet Management Market by Fleet Type

• • Passenger Cars
    • Electric Vehicles
    • Internal Combustion Engine
  • Commercial Fleets
    • Light Commercial Vehicles
    • Medium & Heavy Commercial Vehicles

Global Fleet Management Market by Region

• • North America Fleet Management Market (Option 1: As a part of the free 25% customization)
    • North America Fleet Management Market by Component
    • North America Fleet Management Market by Deployment Type
    • North America Fleet Management Market by Fleet Type
    • US Fleet Management Market All-Up
    • Canada Fleet Management Market All-Up
  • Europe Fleet Management Market (Option 2: As a part of the free 25% Customization)
    • Europe Fleet Management Market by Component
    • Europe Fleet Management Market by Deployment Type
    • Europe Fleet Management Market by Fleet Type
    • UK Fleet Management Market All-Up
    • Germany Fleet Management Market All-Up
    • France Fleet Management Market All-Up
    • Spain Fleet Management Market All-Up
    • Rest of Europe Fleet Management Market All-Up
  • Asia-Pacific Fleet Management Market (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Fleet Management Market by Component
    • Asia-Pacific Fleet Management Market by Deployment Type
    • Asia-Pacific Fleet Management Market by Fleet Type
    • China Fleet Management Market All-Up
    • India Fleet Management Market All-Up
    • Japan Fleet Management Market All-Up
    • Rest of APAC Fleet Management Market All-Up
  • RoW Fleet Management Market (Option 4: As a part of the free 25% Customization)
    • RoW Fleet Management Market by Component
    • RoW Fleet Management Market by Deployment Type
    • RoW Fleet Management Market by Fleet Type
    • Brazil Fleet Management Market All-Up
    • South Africa Fleet Management Market All-Up
    • Saudi Arabia Fleet Management Market All-Up
    • UAE Fleet Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Fleet Management Market All-Up

Global Fleet Management Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Geotab Inc.
  • Donlen
  • ARI Fleet Management Company
  • Inseego Corp.
  • Teletrac Navman US Ltd
  • Omnitracs
  • Verizon
  • Trimble Inc.
  • MiX Telematics
  • Wheels, Inc.