Fleet Management Market Size By Deployment Model (On-premise, Cloud), By Solution (Operation Management, Driver Management, Vehicle Tracking System), By End-use (Transportation, Construction, Manufacturing, Utility), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI3598  |  Authors: Preeti Wadhwani, Sachin Kasnale

Report Format: PDF   |   Pages: 260   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Fleet Management Market size exceeded USD 15 billion in 2019 and is poised to register nearly 20% CAGR between 2020 and 2026. The industry is witnessing a significant disruption as enterprises operating in fleets are focusing on operational efficiency along with effective supply chain processes. Fleet operators with thousands of vehicles carrying assets across geographically dispersed locations are required to provide optimum flexibility to fleet drivers to ensure safe delivery.
 

The reduction in commercial traffic due to the ongoing COVID-19 pandemic has impacted every sector across the globe including industrial, commercial, retail, and warehouses. In the commercial fleet sector, the most impacted is the local passenger transportation including taxis, public transportation, and charter buses. This industry has seen a substantial 58% decrease in drive time. This is expected to cause a moderate decline in the global market.
 

Fleet Management Market

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Fleet Management Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 15 billion (2019)
Historical Data for: 2015 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 20% 2026 Value Projection: USD 55 Billion (2026)
Pages: 260 Tables, Charts & Figures: 281
Geographies covered (21): U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, South Korea, ANZ, Thailand, Brazil, Mexico, Argentina, UAE, Saudi Arabia, South Africa and Israel
Segments covered: Deployment Model, Solution, End Use, and Region
Companies covered (31): ARI Fleet Management Company, Astrata Europe BV, Automile Inc., Azuga, Inc., Bestmile SA, ClearpathGPS, Inc., Donlen Corporation, Element-Arval Global Alliance, Garmin Ltd., Geotab, Inc., GPS Insights, ID Systems, Inc. (Powerfleet), Inseego Corporation, KeepTruckin, Inc, LeasePlan Corporation., Masternaut Ltd., MiX Telematics International (Pty) Ltd., NexTraq, LLC, Omnitracs, LLC, Onfleet, Inc., ORIX Corporation, Samsara Networks, Inc., Teletrac Navman US Ltd., ThingTech, LLC, TomTom International BV, Tourmaline Labs, Inc., Trimble, Inc., US Fleet Tracking, Utilimarc, Inc., Verizon Connect, and Wheels, Inc.
Growth Drivers:
  • Growing emphasis by fleet operators on operational efficiency
  • Extensive penetration of cloud computing and big data analytics solutions
  • Emergence of AI technology in fleet management systems
  • Growing adoption of IoT and proliferation of commercial vehicles
Pitfalls & Challenges:
  • Increasing cyberthreats and data breach incidents
  • Lack of awareness among smaller fleet owners

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Growing popularity of IoT and connected vehicles to fuel the fleet management market growth

The fleet management industry is witnessing a rapid growth in the adoption of IoT devices and connected vehicle technologies to address dynamic market requirements for accurate vehicle tracking. Fleet operators connect fleet assets and vehicles by using IoT devices and provide the ability to monitor fleet operations remotely, creating new avenues for market expansion. Vendors, such as Aeris Communication and Telit IoT Platforms, are offering IoT-based fleet management solutions, which is likely to propel the market growth trends globally.
 

Spike in demand for SaaS technologies to spur cloud segment in Canada

The cloud deployment model segment in Canada held over 60% fleet management market share in 2019 as the adoption of cloud computing services across multiple industry verticals including retail and logistics has increased exponentially. In the context of fleet operators, fleet owners are modernizing their existing fleet infrastructure with innovative cloud-based platforms. Similarly, the emergence of cloud-based IaaS and SaaS fleet management solutions is fueling the adoption of cloud computing services. The scalability and cost benefits offered by cloud technologies help fleet operators in securing a competitive advantage in the rapidly evolving fleet management landscape.
 

Granular updates on real-time location to surge vehicle tracking segment growth in Germany

Germany Fleet Management Market

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In Germany fleet management market, the vehicle tracking system is set to attain 18% growth rate through 2026 propelled by the increasing popularity of vehicle tracking data collected for critical applications such as real-time location and asset management. GPS-based vehicle tracking systems help fleet managers to locate fleet vehicles in real-time, which has proliferated the market demand. Furthermore, increasing demand to detect stolen and lost vehicles has created new market opportunities for the segment.
 

Increasing focus on fuel management to drive the transportation sector growth in China

The Chinese transportation segment is projected to observe over 20% CAGR during 2020-2026 owing to increasing use of fleet management solutions to reduce operational costs and expenditure on fuel. The use of fleet management systems including vehicle tracking & telematics solutions and driver management solutions helps transporters to minimize the expense on fuel and maintain fleet vehicles.
 

Fleet vehicles involved in the transportation of goods & materials are of large volume and value. It is important to the transport company to handle the assets with the utmost professionalism and ensure quality delivery. The use of driver management and vehicle tracking systems along with asset monitoring systems helps these companies to monitor the status of the assets from start to end for a successful delivery.
 

Increased momentum of OEM fitted telematics to augment European market demandrevenue

Europe Fleet Management Market Share

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Europe fleet management market captured more than 20% revenue share in 2019. The regional industry is characterized by accelerated growth of connected fleets and rising demand for location-aware technologies. All major truck manufacturers in the Europe offer OEM telematics solutions as a part of their product portfolio. Mercedes-Benz, Volvo, and Scania are early movers in integrating fleet telematics, creating new avenues for the market expansion.
 

Additionally, several EU members including Germany, Italy, and the UK are heavily adopting fleet management solutions to monitor driving behavior and driver safety. Europe has witnessed the rising penetration of mobile-based telematics apps and increased demand for fleet data analytics.
 

Focus on geographic expansion and strategic alliances to gain a competitive edge

The global fleet management market is dominated by major players, such as Geotab, Verizon, and Arval-Element, focusing on the expansion of their solutions globally through investments in telematics and software research. For instance, in January 2020, Geotab launched UNIFY, a SaaS-based offering, for fleet management. The UNIFY platform offers innovative open-fleet management capabilities including driver workflow patterns, FMSCA compliant ELD, and mobile-based apps for fleet drivers.
 

Some of the key players operating in the market are ARI Fleet Management Company, Astrata Europe BV, Automile Inc., Azuga, Inc., Bestmile SA, ClearpathGPS, Inc., Donlen Corporation, Element-Arval Global Alliance, Garmin Ltd., Geotab, Inc., GPS Insights, ID Systems, Inc. (Powerfleet), Inseego Corporation, KeepTruckin, Inc, LeasePlan Corporation., Masternaut Ltd., MiX Telematics International (Pty) Ltd., NexTraq, LLC, Omnitracs, LLC, Onfleet, Inc., ORIX Corporation, Samsara Networks, Inc., Teletrac Navman US Ltd., ThingTech, LLC, TomTom International BV, Tourmaline Labs, Inc., Trimble, Inc., US Fleet Tracking, Utilimarc, Inc., Verizon Connect, and Wheels, Inc.
 

The industry witnessed several strategic alliances between key players to launch new products with added functionalities to maintain market share and profitability. For instance, in 2019, Geotab, Inc. entered into a partnership with Vodafone to improve its 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 & open platform technology.
 

This market research report on fleet management includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:
 

Market, By Deployment Model

  • Cloud
  • On-premise

Market, By Solution

  • Operation Management
  • Driver Management
  • Vehicle Tracking System
  • Others

Market, By End-Use

  • Transportation
  • Construction
  • Manufacturing
  • Utility
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • ANZ
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • South Africa
       

Frequently Asked Questions (FAQ) :

In 2019, the fleet management industry surpassed USD 15 billion and is poised to register gains at a CAGR of nearly 20% through 2026.
The vehicle tracking system segment in Germany is expected to grow at a rate of 18% through 2026 owing to the rising popularity of vehicle tracking data gathered for critical applications like asset management and real-time location.
The transportation segment in China is projected to witness around 20% CAGR through 2026. The rising usage of fleet management solutions to reduce expenditure on fuel and operational costs will boost industry growth.
The European fleet management market observed over 20% revenue in 2019 and is anticipated to witness substantial growth in the coming years.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 260
  • Tables: 241
  • Charts / Figures: 40
  • Companies covered: 31
  • Countries covered: 21

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