Increasing demand for fleet management in the road transportation systems, coupled with high investments in RD of fleet management, are fueling the market growth.
The global fleet management market is forecast to reach USD 304.78 Billion by 2026, according to a new report by Reports and Data. Fleet management refers to the processes that fleet managers utilize to maintain and manage all fleet and solutions related to acquiring and leasing fleets, vehicle management, uptime downtime management, routing scheduling, safety compliance management, aftermarket service, tracking geofencing, and others, from acquisition through to disposal. The global fleet management market is growing predominantly as the demand for management of the fleet is flourishing in the bigger cities due to the extreme proliferation of private and commercial automotive vehicles in the road. Telematics tracking is actively raising the market capital for the tracking analytics segment. Road transportation is rapidly harnessing having implemented fleet management in commercial and passenger vehicles.
APAC is forecasted to achieve the fastest growth of about 19.3% in the period 2019 – 2026, due to an increase in the affordability of private vehicles and comprehensive implementation of fleet management by all means of transportation in the countries like India and China. North America holds the highest market share of 37.4% in 2018 because of the prodigious rate of commercialization of smart fleet management solutions.
Key participants include Donlen Corporation, Omnitracs, TeletracNavman, Automotive Rentals Inc., Japan Railways Group, American Airlines, FedEx, GPS Insight, Omnitracs, and Verizon Connect.
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Market Overview:
The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Fleet Management Markethas been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Fleet Management Market
Further key findings from the report suggest
- Government bodies had a share of about 17.2% in 2018 in the market. The government bodies include licensing management, certifications, registrations, routing scheduling the government transportation, defense monitoring, and numerous law orders regarding the fleets. The segment is expected to grow with a CAGR of 14.6% during the forecast period.
- Mobility solutions consists of the peer-to-peer ridesharing, ride-hailing, rental services providers, and other passenger carrier and traveling solutions providers. The mobility solutions had a market revenue of USD 27.37 Billion in the year 2018 and will be growing at the highest CAGR of 17.1% throughout the forecast period.
- Logistics solutions are one of the highest contributors in this market, with 27.0% of market share in 2018 and 14.7% of the growth rate in the forecast period. FedEx, DHL, Japan Railways Group are some of the key players of this segment.
- The solution providers for this market is likely to reach a market share of 70.5% by 2026, having grown with a successive CAGR of 16.3% during the forecast period. Highly accurate solutions for the massive number of fleet in the crowded areas and real-time tracking facilities coupled with high-security solutions are some of the active propellers under this segment.
- Maintenance repair solutions and services focus on providing support assistance for the fleet and maintenance services for the aftermarket fleets in order to properly sustain the overall fleet management process. The segment is calculated to reach a market valuation of USD 39.01 Billion by 2026.
- North America is leading the global market, with 37.4% of market possession in 2018 and would continue dominating the global market with a CAGR of 15.8% during the forecast period. United States possesses the highest market share in the worldwide market.
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For the purpose of this report, Reports and Data have segmented the global fleet management market on the basis of the type, verticals, fleet type, end-use industries, and region:
Type Outlook (Revenue: USD Billion; 2016-2026)
- Solution
- Service
Verticals Outlook (Revenue: USD Billion; 2016-2026)
- Operation Management
- Business Management
- Maintenance Repair
- Regulatory Compliance
- Software Solutions
- Tracking Analytics
- Others
Fleet Type Outlook (Revenue: USD Billion; 2016-2026)
- Aviation
- Road Transportation
- Railway System
- Marine
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
- Mobility Solutions
- Service Maintenance
- Education Research
- Logistics Solutions
- Government Bodies
- Others
Regional Outlook (Revenue: USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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Key Advantages of Fleet Management Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Fleet Management industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Fleet Management Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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