Fleet Management Solutions Global Market Report 2024

Description

Fleet management solutions are technology-driven services leveraging GPS (global positioning system), telematics, and software to monitor, track, and optimize the operations of vehicle fleets, thereby enhancing efficiency, safety, and overall management. These systems aid organizations in optimizing their operations by facilitating effective route planning, scheduling, and dispatching, resulting in increased productivity and reduced fuel consumption.

The primary types of fleet management solutions encompass asset management, information management, driver management, safety and compliance management, risk management, operations management, and others. Asset management involves the systematic process of monitoring, maintaining, and optimizing assets throughout their lifecycle to maximize their value and minimize costs. These solutions can be deployed on-premise, on-demand, or in hybrid mode for various applications across sectors such as transportation and logistics, automotive, retail, government, shipping, and others.

The fleet management solutions market research report is one of a series of new reports from The Business Research Company that provides fleet management solutions market statistics, including fleet management solutions industry global market size, regional shares, competitors with a fleet management solutions market share, detailed fleet management solutions market segments, market trends and opportunities, and any further data you may need to thrive in the fleet management solutions industry. This fleet management solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fleet management solutions market size has grown rapidly in recent years. It will grow from $21.05 billion in 2023 to $24.27 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The expansion observed in the historical period can be attributed to several factors, including increased integration of telematics, cost reduction and efficiency enhancements, improvements in safety measures, compliance with regulatory requirements (such as ELD), and the adoption of blockchain technology for enhanced security and transparency within fleet management operations.

The fleet management solutions market size is expected to see rapid growth in the next few years. It will grow to $43.22 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecast period can be attributed to several factors, including the implementation of predictive analytics and artificial intelligence (AI), adoption of edge computing for real-time processing, enhancement of cybersecurity measures, focus on mobile and user experience (UX) enhancement, and integration of drones for asset management. Major trends expected in this period include the integration of electric vehicles (EVs), adoption of subscription-based models and software-as-a-service (SaaS), utilization of augmented reality (AR) for maintenance purposes, incorporation of geospatial technology for advanced routing, and integration of advanced driver-assistance systems (ADAS).

The upward trajectory of connected vehicles is set to drive the expansion of the fleet management solutions market in the coming years. Connected vehicles, equipped with advanced communication technologies, are experiencing increased demand driven by factors such as heightened connectivity, improved safety features, integration with smart infrastructure, and the advent of autonomous driving. These vehicles enable real-time monitoring of driving behaviors, allowing fleet managers to identify and address risky driving practices effectively. For example, a report released by the Insurance Institute for Highway Safety, a non-profit organization based in the United States, in December 2022, forecasted that there would be an estimated 3.5 million autonomous vehicles or self-driving cars operating on American roads by 2025. Furthermore, it anticipates that the number will increase to 4.5 million by 2030. This surge in connected vehicle adoption underscores the pivotal role they play in propelling the growth of the fleet management solutions market.

Leading players in the fleet management solutions market are prioritizing the development of comprehensive solutions, including fleet management suites, to optimize fleet operations. Fleet management suites serve as indispensable tools for businesses seeking to streamline the administration of their vehicle fleets. For instance, Ford Pro introduced its fleet management software in September 2022, tailored to simplify fleet management for small and medium-sized enterprises. This software offers a range of functionalities, from driver and vehicle tracking to maintenance monitoring and cost digitization, aiming to alleviate paperwork burdens and enhance operational efficiency. Ford Pro's fleet management software provides adaptable tracking systems for monitoring fuel usage expenses and seamlessly integrates with various payment methods, offering a comprehensive solution for fleet management needs.

In December 2023, Free2Move made a strategic acquisition by purchasing Kuantic, a fleet management solutions company based in France, to bolster its portfolio and cater to corporate clients with advanced connectivity solutions. Free2Move's acquisition of Kuantic underscores its commitment to becoming a global mobility provider for both individuals and businesses. Kuantic's expertise in providing connectivity services complements Free2Move's vision, enabling it to offer top-tier solutions and services to enhance fleet efficiency on a global scale. This strategic move aligns with Free2Move's goal of providing comprehensive mobility solutions to meet the evolving needs of businesses worldwide.

Major companies operating in the fleet management solutions market are Verizon Communications Inc., AT&T Corporation, International Business Machine Corporation, Cisco Systems Inc., Trimble Inc., Donlen LLC, Geotab Inc., TomTom NV, Wheels Inc., Omnitracs LLC, Odoo SA, Samsara Network Inc., Inseego Corp, MiX Telematics Limited, PowerFleet, KeepTruckin Inc., Tenna LLC, Switchboard Inc., Fleet Complete Inc., Octo Telematics SpA, Rarestep Inc., Chevin Fleet Solutions Limited, One Step GPS LLC, Transflo Services Inc., GoFleet Inc., Advanced Tracking Technologies Inc., Arvento Mobile Systems A.S., Astrata Corporation

North America was the largest region in the fleet management solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fleet management solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the fleet management solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The fleet management solutions market includes revenues earned by entities by providing services such as vehicle tracking, route optimization, fuel management, maintenance management, reporting and analytics, and driver behavior monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Solution: Asset Management; Information Management; Driver Management; Safety And Compliance Management; Risk Management; Operations Management
2) By Deployment Model: On-Premise; On-Demand; Hybrid
3) By Application: Transportation And Logistics; Automotive; Retail; Government; Shipping
Covering: Verizon Communications Inc.; AT&T Corporation; International Business Machine Corporation; Cisco Systems Inc.; Trimble Inc.

Product Code: r17359

1. Executive Summary

2. Fleet Management Solutions Market Characteristics

3. Fleet Management Solutions Market Trends And Strategies

4. Fleet Management Solutions Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Fleet Management Solutions Market Size and Growth

5.1. Global Fleet Management Solutions Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Fleet Management Solutions Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Fleet Management Solutions Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Fleet Management Solutions Market Segmentation

6.1. Global Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Asset Management
Information Management
Driver Management
Safety And Compliance Management
Risk Management
Operations Management
Other Solutions
6.2. Global Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premise
On-Demand
Hybrid
6.3. Global Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Transportation And Logistics
Automotive
Retail
Government
Shipping
Other Applications

7. Fleet Management Solutions Market Regional And Country Analysis

7.1. Global Fleet Management Solutions Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Fleet Management Solutions Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Fleet Management Solutions Market

8.1. Asia-Pacific Fleet Management Solutions Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Fleet Management Solutions Market

9.1. China Fleet Management Solutions Market Overview
9.2. China Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Fleet Management Solutions Market

10.1. India Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Fleet Management Solutions Market

11.1. Japan Fleet Management Solutions Market Overview
11.2. Japan Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Fleet Management Solutions Market

12.1. Australia Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Fleet Management Solutions Market

13.1. Indonesia Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Fleet Management Solutions Market

14.1. South Korea Fleet Management Solutions Market Overview
14.2. South Korea Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Fleet Management Solutions Market

15.1. Western Europe Fleet Management Solutions Market Overview
15.2. Western Europe Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Fleet Management Solutions Market

16.1. UK Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Fleet Management Solutions Market

17.1. Germany Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Fleet Management Solutions Market

18.1. France Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Fleet Management Solutions Market

19.1. Italy Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Fleet Management Solutions Market

20.1. Spain Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Fleet Management Solutions Market

21.1. Eastern Europe Fleet Management Solutions Market Overview
21.2. Eastern Europe Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Fleet Management Solutions Market

22.1. Russia Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Fleet Management Solutions Market

23.1. North America Fleet Management Solutions Market Overview
23.2. North America Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Fleet Management Solutions Market

24.1. USA Fleet Management Solutions Market Overview
24.2. USA Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Fleet Management Solutions Market

25.1. Canada Fleet Management Solutions Market Overview
25.2. Canada Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Fleet Management Solutions Market

26.1. South America Fleet Management Solutions Market Overview
26.2. South America Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Fleet Management Solutions Market

27.1. Brazil Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Fleet Management Solutions Market

28.1. Middle East Fleet Management Solutions Market Overview
28.2. Middle East Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Fleet Management Solutions Market

29.1. Africa Fleet Management Solutions Market Overview
29.2. Africa Fleet Management Solutions Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Fleet Management Solutions Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Fleet Management Solutions Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Fleet Management Solutions Market Competitive Landscape And Company Profiles

30.1. Fleet Management Solutions Market Competitive Landscape
30.2. Fleet Management Solutions Market Company Profiles
- 30.2.1. Verizon Communications Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. AT&T Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. International Business Machine Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Cisco Systems Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Trimble Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Fleet Management Solutions Market Other Major And Innovative Companies

31.1. Donlen LLC
31.2. Geotab Inc.
31.3. TomTom NV
31.4. Wheels Inc.
31.5. Omnitracs LLC
31.6. Odoo SA
31.7. Samsara Network Inc.
31.8. Inseego Corp
31.9. MiX Telematics Limited
31.10. PowerFleet
31.11. KeepTruckin Inc.
31.12. Tenna LLC
31.13. Switchboard Inc.
31.14. Fleet Complete Inc.
31.15. Octo Telematics SpA

32. Global Fleet Management Solutions Market Competitive Benchmarking

33. Global Fleet Management Solutions Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Fleet Management Solutions Market

35. Fleet Management Solutions Market Future Outlook and Potential Analysis

35.1 Fleet Management Solutions Market In 2028 - Countries Offering Most New Opportunities
35.2 Fleet Management Solutions Market In 2028 - Segments Offering Most New Opportunities
35.3 Fleet Management Solutions Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer