Fleet Management Global Market Estimated To Grow At 17% Rate
The Business Research Company’s Fleet Management Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, September 20, 2022 /EINPresswire.com/ — As per The Business Research Company’s “Fleet Management Global Market Report 2022”, the fleet management market is expected to grow from $14.15 billion in 2021 to $16.27 billion in 2022 at a compound annual growth rate (CAGR) of 14.98%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global fleet management market demand is expected to reach $30.80 billion in 2026 at a CAGR of 17.31%. The increasing demand for commercial vehicles is expected to drive the fleet management market during the forecast period.
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Key Trends In The Fleet Management Market
The use of internet of things (IoT) in fleet management is a key trend gaining popularity in the market. IoT is a system of interrelated digital and mechanical machines, objects, and computing devices that have the potential to transfer data over a network without the use of human-to-human interaction. Companies are focusing on the application of IoT in fleet management to automate various processes and trip planning.
Overview Of The Fleet Management Market
The fleet management market consists of sales of fleet management services and solutions by entities (organizations, sole traders, and partnerships) for managing commercial motor vehicles such as cars, trucks, vans, specialist vehicles, trailers, forklifts, ships, railcars and other private vehicles. Fleet management assists organizations to manage all information associated with their vehicles and other assets, dispatch and routing, and vehicle acquisition and disposal. These services oversee and organize all fleet performance and fleet maintenance to increase productivity and help in smooth business operation.
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Fleet Management Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• By Component: Solutions, Services
• By Vehicle Type: Heavy Commercial Vehicle, Light Commercial Vehicle, Aircraft, Railway, Watercraft
• By Industry: Retail, Government, Transportation and Logistics, Automotive, Others
• By Communication Technology: GNSS (Satellite), Cellular System
• By Deployment Type: On-Premises, Cloud
• By Geography: The global fleet management market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe holds the largest share in the market.
Major market players such as Automile Inc, Azuga Inc, ClearpathGPS Inc, Donlen Corporation, Geotab Inc, GPS Insights, KeepTruckin Inc, Masternaut Ltd, MiX Telematics International (Pty) Ltd, NexTraq, Omnitracs LLC, Samsara Networks Inc, Teletrac Navman US Ltd, TomTom International BV, Trimble Inc, Verizon Connect, Freeway Fleet Systems, US Fleet Tracking, Utilimarc Inc., MiTAC International Corporation, Fleetmatics group Plc, Fleetonomy, GURTAM, Fleetroot, Orbcomm Inc, Otto Marine Limited and Siemens AG
Trends, opportunities, strategies and so much more.
Fleet Management Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of fleet management global market. The market report gives fleet management global market analysis, fleet management global market size, fleet management global market growth drivers, fleet management market segments, fleet management market major players, fleet management market growth across geographies, and fleet management market competitors’ revenues and market positioning. The fleet management market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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