Fleet Management System Market Share, Industry Trends, Size, Growth and Report 2023-2028

The latest report by IMARC Group, titled “Fleet Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global fleet management system market share. The global market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 43.1 Billion by 2028, exhibiting a growth rate (CAGR) of 10.5% during 2023-2028.

A fleet management system, or FMS, is a comprehensive solution used by organizations to monitor and manage their fleet of vehicles efficiently. It is essential for businesses that rely on a fleet of vehicles for transportation, delivery, or service purposes. It utilizes advanced technology, such as global positioning system (GPS) tracking and telematics, to provide real-time insights into the location, performance, and maintenance needs of each vehicle in the fleet. It allows businesses to optimize various aspects of their operations, including improved cost control, route planning, fuel consumption, vehicle maintenance, and driver behavior. Additionally, corporations can identify cost-saving opportunities and reduce operational expenses by analyzing data on fuel usage, maintenance schedules, and driver behavior. It also enhances safety by monitoring driver behavior, reducing the risk of accidents across the globe.

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Fleet Management System Market Trends and Drivers:

The fleet management system market is primarily driven by the rising transportation and logistics sector. In addition, the increasing use of fleet management systems in shipping companies, logistics providers, and freight carriers to manage their extensive fleets of trucks, ships, and aircraft efficiently while tracking shipments, optimizing routes, and monitoring vehicle health are influencing market growth. Moreover, the growing use of fleet management systems in waste management companies to optimize garbage collection routes, reduce fuel consumption, and enhance environmental sustainability with real-time tracking aids in efficient waste collection, representing another major growth-inducing factor. Besides this, the extensive application of fleet management systems in public transportation agencies, such as bus and tram operators, deploy fleet management systems to enhance the reliability and safety of their services, which aid in managing schedules, monitoring vehicle locations, and improving passenger experience, thus accelerating the market growth. Furthermore, government agencies and municipalities are using fleet management systems to manage their vehicle fleets, which include public transportation, maintenance vehicles, and law enforcement fleets that help control costs and ensure compliance with regulations, creating a positive market outlook.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component:

  • Solutions
    • Fleet Telematics
    • Driver Information Management
    • Vehicle Maintenance
    • Safety and Compliance Management
    • Others
  • Services
    • Installation and Integration Services
    • After-Sales Support Services
    • Consulting Services

Breakup by Vehicle Type:

  • Commercial Vehicles
  • Passenger Cars
  • Aircrafts
  • Watercrafts

Breakup by End Use Sector:

  • Automotive
  • Energy & Utilities
  • Manufacturing
  • Retail
  • Transportation and Logistics
  • Construction
  • Others

Breakup by Technology:

  • GNSS
  • Cellular Systems

Breakup by Deployment Type:

  • Cloud-based
  • On-premises
  • Hybrid

Breakup by Region:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Competitors Landscape with Key Players:

  • 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.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Fleet Management System Market 2022 Share, Size, Growth, Trends and Forecast 2027

According to IMARC Group’s latest report, titled “Fleet Management System Market : Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global fleet management system market reached a value of US$ 21.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 39 Billion by 2027, exhibiting a CAGR of 10.75% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Fleet management (FM) is the control and administration of commercial automobiles, including cars, trucks, vans, marine vessels, aircraft, etc. It involves performing numerous functions, such as fuel management, vehicle maintenance, vehicle acquisition, driver safety, regulatory compliance, etc. Fleet management systems are integrated with software programs to streamline routine tasks and improve employee efficiency. They assist in maintaining costs, provide real-time access to the fleet, improve the life span of vehicles, increase customer retention rates, ensure driver satisfaction, etc. As a result, fleet management systems find widespread applications across various sectors, including energy, utility, automotive, manufacturing, retail, construction, logistics, transportation, etc.

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Market Trends

The escalating usage of cloud computing and Internet of Things (IoT) technologies in the transportation sector is primarily driving the fleet management system market. Besides this, the elevating demand for FM solutions in the mining sector to enhance overall safety, monitor driver behavior, and minimize maintenance costs is further augmenting the market growth. Apart from this, the introduction of several innovative services, such as asset management, two-way communication, and customer relationship administration, is also catalyzing the global market. Moreover, the growing popularity of 4G and 5G technologies that assist in enhanced productivity, area coverage, access, and user response is acting as another significant growth-inducing factor. Furthermore, the launch of favorable policies by government bodies to promote smart transport techniques and various innovations, including in-vehicle cameras with telematics compatibility and remote tachograph reporting, are expected to bolster the fleet management system market in the coming years.

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The report has segmented the market on the basis of component, vehicle type, end-use sector, technology, deployment and geography.

Breakup by Component:

  • Solutions
    • Fleet Telematics
    • Driver Information Management
    • Vehicle Maintenance
    • Safety and Compliance Management
    • Others
  • Services
    • Installation and Integration Services
    • After-Sales Support Services
    • Consulting Services

Breakup by Vehicle Type:

  • Commercial Vehicles
  • Passenger Cars
  • Aircrafts
  • Watercrafts

Breakup by End-Use Sector:

  • Automotive
  • Energy & Utilities
  • Manufacturing
  • Retail
  • Transportation and Logistics
  • Construction
  • Others

Breakup by Technology:

  • GNSS
  • Cellular Systems

Breakup by Deployment Type:

  • Cloud-based
  • On-premises
  • Hybrid

Breakup by Geography:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Competitive Landscape:

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 and Wheels Inc., etc.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800