In 2021, the market for fleet management was estimated to be worth US$39.1 million, and by the end of 2022, it is expected to be worth US$48 billion. The fleet management market is anticipated to grow at a CAGR of 17.4% from 2022 to 2032. A market valuation of US$ 239 million is anticipated at the conclusion of the foregoing forecast period.
Demand for fleet management solutions is likely to be paramount, with a documented historical CAGR of 20.8% between 2015 and 2021. Among the available components, cloud deployment demand is expected to grow at a CAGR of 23 % during the evaluation period, while operations management will exhibit a CAGR of 16.8% through 2032.
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Market Players:-
- TomTom NV
- Zebra Technologies Corp.
- trimble inc.
- Cisco Systems, Inc.
- GoFleet Corporation
- geotab inc.
- Materia Digital
- GPS tracker
- Grupo Fleetmatics PLC
- GoGPS
- wireless links
- Embitel
- Gurtam
- Teletrac Browser
- Linxio
- CalleFlota
- TigerFlota
- rupella
- trakm8 limited
- WebEye Telematics Group
Key partners in the market, including industry players, policymakers, and financial backers in different countries, have been constantly realigning their systems and ways of managing them to take advantage of the new open doors. Many have recently updated their procedures to stay coordinated amid the general unrest caused by the COVID-19 pandemic.
competitive landscape
Leading vendors are focusing on offering a level of competition due to high market consolidation by market leaders and increased R&D activities, leading to innovations in telematics and analytics solutions. In addition, top-tier providers rely on collaborations, acquisitions, and partnerships with existing players to expand their reach. Some notable developments are as follows:
- In October 2021 , Ctrack announced the launch of PC Secure, which enables devices to be tracked and recovered in the same way that Ctrack has tracked stolen vehicles and other assets for the past 30 years. Ctrack PC Secure makes any laptop or desktop visible for Ctrack to recover stolen laptops or desktops using innovative software.
- In June 2021 , Dtac Business announced its partnership with Cartrack Technology to provide fleet management solutions to small and medium-sized businesses in Thailand. The fleet management solution powered by dtac’s full suite of IoT connectivity solutions has advanced features such as fuel usage monitoring, intelligent transportation planning solutions, and driver behavior monitoring, through which fleet owners businesses can easily monitor through the mobile app and web portal.With Cartrack’s advanced artificial intelligence technology, fleets can be optimized to reduce fuel consumption, creating driving zones to help increase work efficiency and reduce operating costs.
Key segments covered in the industry report
- By deployment:
- Cloud
- On the premise
- By type :
- vehicle management
- driver management
- operations manager
- By end user:
- Transportation
- Automotive
- Retail
- Government
- Shipment
The regional analysis includes
- North America (USA, Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU: (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Republic, etc.) , Rest of Europe
- CIS and Russia
- Japan
- Asia Pacific excluding Japan (Greater China, India, South Korea, ASEAN countries, rest of APEJ)
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