Fleet Management Market (By Vehicle: Heavy Commercial Vehicle, Aircraft, Railway, Watercraft, Trucks/Cars/Buses, Ships/Vessels, Electric Vehicle, Light Commercial Vehicle; By Component: Solutions, Services; By Communication Technology: Cellular system, GNSS; By Deployment Type: On-Premises, Cloud; By Industry: Construction, Transportation, Government, Logistics, Retail, Automotive, Oil and Gas, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
The global fleet management market size was evaluated at USD 22 billion in 2022 and it is expected to hit around USD 57.84 billion by 2032, growing at a CAGR of 10.2% during the forecast period 2023 to 2032.
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The large-scale management of the operations of commercial vehicles is known as fleet management. All the processes that are adopted by the fleet managers in order to make various decisions by monitoring the activities of the fleet Is known as fleet management. It includes the acquisition of the vehicles dispatch and the routing of the vehicle.
Fleet managers constantly focus on managing the fleet in a way that helps in reducing the consumption of fuel, it helps in controlling the costs, it helps in improving the productivity and ensures compliance. All of these are the functions of the fleet managers which help in maximizing the profitability of any business and focuses on maintaining the costs. By the way of management of fleet, the managers help in reducing any risk associated with the vehicles.
Financing of the vehicle and the management of the driver is also done by the fleet manager. The functions also include vehicle telematics which are associated with the commercial vehicles, aircrafts and watercrafts. Most of the fleet managers have adopted softwares which helps in improving the customer service and ensures better safety. It also helps in improving the profitability for the business and also increases the visibility.
The major reasons which are helping in the growth of the market are the increase in concerns about the safety of the fleet and the regulations imposed by the government for the tracking as well as the maintenance of the vehicles. The government of various regions has adopted policies for the maintenance of the vehicles in order to prevent any accidents. There has also been an increase in the demand for competency in the operations of the vehicles. Increased use of the wireless technology has also helped in ensuring the growth of the market.
Fleet management market is expected to grow in the coming years as the businesses seek efficient operations through the use of various technologies that make the process of coordination and tracking of the vehicles better.
Report Coverage | Details |
Market Size in 2023 |
USD 24.13 Billion |
Market Size by 2032 |
USD 57.84 Billion |
Growth Rate from 2023 to 2032 | CAGR of 10.2% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Vehicle, Component, Communication Technology, Deployment Type, Industry and Geography |
Companies Mentioned |
TomTom N.V. U.S, General Services Administration, Fleetmatics Group PLC, Telogis, Freeway Fleet Systems, IBM Corporation, AT&T Inc., Navico, Grupo Autofin de Monterrey, Grab, Scope Technologies, Troncalnet, FAMSA, Ola Cabs, I.D. Systems, MiTAC International Corporation, Cisco Systems, Trimble Transportation & Logistics, Uber Technologies, Didi Chuxing, DC Velocity, Fleet Robo, European GNSS Agency (GSA) |
What are the drivers of fleet management market?
Market Challenges
Market Opportunities
On the basis of the vehicle type, the commercial vehicle segment held highest revenue share in 2022. Various initiatives taken by the government which are favorable for international trade has been instrumental in the growth of the commercial vehicle segment in the recent years and it is expected to grow well in the coming years. For proper scheduling and tracking of the material that needs to be exchanged the market for commercial fleet is expected to grow well in the coming years. The use of the commercial vehicles in transportation and logistics will play an instrumental role in the growth of the segment. The increased use of the commercial vehicles in the manufacturing industries will also play an important role in the growth of the market in the coming years.
On the basis of component, the solutions segment accounted highest revenue share in 2022. The market was valued at USD 12,614.34 million and it will continue to grow well in the coming years.
Apart from solutions segment the services segment is also expected to grow well in the coming years due to a growing demand for it in various industries.
On the basis of the communication technology the cellular system segment is expected to have the largest market share in the coming years and this segment has dominated the market in the past with the highest share in terms of revenue.
On the basis of the industry the transportation industry is expected to have the largest market share in the coming years and this segment has dominated the market in the past with the highest share in terms of revenue and it will continue to grow in the coming years.
Fleet Management Market Share, By Region, 2022 (%)
Regions | Revenue Share in 2022 (%) |
North America | 33.8% |
Asia Pacific | 21.3% |
Europe | 28.4% |
Latin America | 10% |
MEA | 6.5% |
North American region held highest revenue share in 2022. The government of this region has played an extremely significant role in increasing the market for fleet management in the recent years. The strict regulations and rules in the North American region have successfully reduced the amount of emissions that come through the use of vehicles. And in order to reduce the pollution caused by the vehicles the stringent regulations are compelling the industry to adhere to the policies. This region is expected to contribute well in the growth of the fleet management market during the forecast period.
Due to the presence of countries like China as well as India in Asia Pacific region this region is expected to show maximum growth in fleet management in the coming years. Increased international trade has also been instrumental in the growth of the market in the Asia Pacific region in the recent years. This region is expected to grow at the highest compound annual growth rate in the coming years owing to the favorable policies adopted by the government of various regions in order to support the trade. The demand for vehicles that cause less pollution has increased in the Asia Pacific region as though pollution in these countries is more due to the population explosion.
In order to have better efficiency in electric vehicles, Europe is expected to play a significant role in the coming years. This region is expected to contribute well in the growth of the fleet management market during the forecast.
Segments covered in the report
By Vehicle
By Component
By Communication Technology
By Deployment Type
By Industry
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Fleet Management Market
5.1. COVID-19 Landscape: Fleet Management Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Fleet Management Market, By Vehicle
8.1. Fleet Management Market, by Vehicle, 2023-2032
8.1.1. Heavy Commercial Vehicle
8.1.1.1. Market Revenue and Forecast (2021-2032)
8.1.2. Aircraft
8.1.2.1. Market Revenue and Forecast (2021-2032)
8.1.3. Railway
8.1.3.1. Market Revenue and Forecast (2021-2032)
8.1.4. Watercraft
8.1.4.1. Market Revenue and Forecast (2021-2032)
8.1.5. Trucks/Cars/Buses
8.1.5.1. Market Revenue and Forecast (2021-2032)
8.1.6. Ships/Vessels
8.1.6.1. Market Revenue and Forecast (2021-2032)
8.1.7. Electric Vehicle
8.1.7.1. Market Revenue and Forecast (2021-2032)
8.1.8. Light Commercial Vehicle
8.1.8.1. Market Revenue and Forecast (2021-2032)
Chapter 9. Global Fleet Management Market, By Component
9.1. Fleet Management Market, by Component, 2023-2032
9.1.1. Solutions
9.1.1.1. Market Revenue and Forecast (2021-2032)
9.1.2. Services
9.1.2.1. Market Revenue and Forecast (2021-2032)
Chapter 10. Global Fleet Management Market, By Communication Technology
10.1. Fleet Management Market, by Communication Technology, 2023-2032
10.1.1. Cellular system
10.1.1.1. Market Revenue and Forecast (2021-2032)
10.1.2. GNSS
10.1.2.1. Market Revenue and Forecast (2021-2032)
Chapter 11. Global Fleet Management Market, By Deployment Type
11.1. Fleet Management Market, by Deployment Type, 2023-2032
11.1.1. On-Premises
11.1.1.1. Market Revenue and Forecast (2021-2032)
11.1.2. Cloud
11.1.2.1. Market Revenue and Forecast (2021-2032)
Chapter 12. Global Fleet Management Market, By Industry
12.1. Fleet Management Market, by Industry, 2023-2032
12.1.1. Construction
12.1.1.1. Market Revenue and Forecast (2021-2032)
12.1.2. Transportation
12.1.2.1. Market Revenue and Forecast (2021-2032)
12.1.3. Government
12.1.3.1. Market Revenue and Forecast (2021-2032)
12.1.4. Logistics
12.1.4.1. Market Revenue and Forecast (2021-2032)
12.1.5. Retail
12.1.5.1. Market Revenue and Forecast (2021-2032)
12.1.6. Automotive
12.1.6.1. Market Revenue and Forecast (2021-2032)
12.1.7. Oil and Gas
12.1.7.1. Market Revenue and Forecast (2021-2032)
12.1.8. Others
12.1.8.1. Market Revenue and Forecast (2021-2032)
Chapter 13. Global Fleet Management Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.1.2. Market Revenue and Forecast, by Component (2021-2032)
13.1.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.1.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.1.5. Market Revenue and Forecast, by Industry (2021-2032)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.1.6.2. Market Revenue and Forecast, by Component (2021-2032)
13.1.6.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.1.6.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.1.6.5. Market Revenue and Forecast, by Industry (2021-2032)
13.1.7. Rest of North America
13.1.7.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.1.7.2. Market Revenue and Forecast, by Component (2021-2032)
13.1.7.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.1.7.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.1.7.5. Market Revenue and Forecast, by Industry (2021-2032)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.2.2. Market Revenue and Forecast, by Component (2021-2032)
13.2.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.2.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.2.5. Market Revenue and Forecast, by Industry (2021-2032)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.2.6.2. Market Revenue and Forecast, by Component (2021-2032)
13.2.6.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.2.7. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.2.8. Market Revenue and Forecast, by Industry (2021-2032)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.2.9.2. Market Revenue and Forecast, by Component (2021-2032)
13.2.9.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.2.10. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.2.11. Market Revenue and Forecast, by Industry (2021-2032)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.2.12.2. Market Revenue and Forecast, by Component (2021-2032)
13.2.12.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.2.12.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.2.13. Market Revenue and Forecast, by Industry (2021-2032)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.2.14.2. Market Revenue and Forecast, by Component (2021-2032)
13.2.14.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.2.14.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.2.15. Market Revenue and Forecast, by Industry (2021-2032)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.3.2. Market Revenue and Forecast, by Component (2021-2032)
13.3.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.3.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.3.5. Market Revenue and Forecast, by Industry (2021-2032)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.3.6.2. Market Revenue and Forecast, by Component (2021-2032)
13.3.6.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.3.6.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.3.7. Market Revenue and Forecast, by Industry (2021-2032)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.3.8.2. Market Revenue and Forecast, by Component (2021-2032)
13.3.8.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.3.8.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.3.9. Market Revenue and Forecast, by Industry (2021-2032)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.3.10.2. Market Revenue and Forecast, by Component (2021-2032)
13.3.10.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.3.10.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.3.10.5. Market Revenue and Forecast, by Industry (2021-2032)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.3.11.2. Market Revenue and Forecast, by Component (2021-2032)
13.3.11.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.3.11.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.3.11.5. Market Revenue and Forecast, by Industry (2021-2032)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.4.2. Market Revenue and Forecast, by Component (2021-2032)
13.4.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.4.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.4.5. Market Revenue and Forecast, by Industry (2021-2032)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.4.6.2. Market Revenue and Forecast, by Component (2021-2032)
13.4.6.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.4.6.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.4.7. Market Revenue and Forecast, by Industry (2021-2032)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.4.8.2. Market Revenue and Forecast, by Component (2021-2032)
13.4.8.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.4.8.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.4.9. Market Revenue and Forecast, by Industry (2021-2032)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.4.10.2. Market Revenue and Forecast, by Component (2021-2032)
13.4.10.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.4.10.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.4.10.5. Market Revenue and Forecast, by Industry (2021-2032)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.4.11.2. Market Revenue and Forecast, by Component (2021-2032)
13.4.11.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.4.11.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.4.11.5. Market Revenue and Forecast, by Industry (2021-2032)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.5.2. Market Revenue and Forecast, by Component (2021-2032)
13.5.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.5.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.5.5. Market Revenue and Forecast, by Industry (2021-2032)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.5.6.2. Market Revenue and Forecast, by Component (2021-2032)
13.5.6.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.5.6.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.5.7. Market Revenue and Forecast, by Industry (2021-2032)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Vehicle (2021-2032)
13.5.8.2. Market Revenue and Forecast, by Component (2021-2032)
13.5.8.3. Market Revenue and Forecast, by Communication Technology (2021-2032)
13.5.8.4. Market Revenue and Forecast, by Deployment Type (2021-2032)
13.5.8.5. Market Revenue and Forecast, by Industry (2021-2032)
Chapter 14. Company Profiles
14.1. TomTom N.V. U.S
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. General Services Administration
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Fleetmatics Group PLC
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Telogis
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Freeway Fleet Systems
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. IBM Corporation
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. AT&T Inc.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Navico
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Grupo Autofin de Monterrey
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Grab
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
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