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The global fleet management system market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 16.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Fleet management (FM) refers to the administration and control of commercial automobiles, including cars, vans, trucks, marine vessels and aircraft. It involves performing functions such as vehicle acquisition, fuel management, vehicle maintenance, driver safety and compliance. FM systems are also integrated with software programs to streamline routine tasks and improve employee efficiency. They help in managing fuel and maintenance costs, provide real-time access to the fleet, improve the life span of vehicles, increase customer retention rates and driver satisfaction. Owing to these benefits, these systems find extensive application across energy and utilities, automotive, manufacturing, retail, construction, logistics and transport industries.
The increasing adoption of cloud computing systems and the integration of the Internet of Things (IoT) with the transportation industry, are among the key factors driving the growth of the market. Furthermore, a significant increase in the mining industry that utilizes FM systems to monitor driver behavior, enhance overall safety and reduce maintenance costs, have provided a boost to the market growth. In addition to this, rapid adoption of wireless technology and advancement in 4G and 5G technologies offering wide area coverage, enhanced productivity, along with quick access and response to the users, are also creating a positive impact on the market. The availability of services, including asset management, two-way communication and customer relationship management, are also resulting in the increased utilization of the FM systems. Moreover, the implementation of favorable policies to promote smart transport systems, coupled with innovations, such as in-vehicle cameras with telematics compatibility and remote tachograph reporting, are projected to drive the market in the upcoming years.
Breakup by Component:
Breakup by Vehicle Type:
Breakup by End-Use Sector:
Breakup by Technology:
Breakup by Deployment Type:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being AT&T Inc., Geotab, I.D. Systems, IBM Corporation, Inseego Corporation, Mix Telematics Ltd., Omnitracs LLC, TomTom N.V., Trimble Inc., Verizon Communications, Wheels Inc., etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Component, Vehicle Type, End-Use Sector, Technology, Deployment Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||AT&T Inc., Geotab, I.D. Systems, IBM Corporation, Inseego Corporation, Mix Telematics Ltd., Omnitracs LLC, TomTom N.V., Trimble Inc., Verizon Communications and Wheels Inc.|
|Customization Scope||10% Free Customization|
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Key Questions Answered in This Report:
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