Fleet Management Market Size, (USD 37.89 Billion by 2035) Share, Growth Analysis, By Component(Solution (Operations management, Vehicle maintenance & diagnostics, Fleet analytics & reporting, Compliance Management), By Fleet type(Commercial fleets (Light commercial vehicles, Medium and Heavy commercial vehicles), Passenger Vehicles (Internal combustion engine, Electric Vehicles)), By Vertical(Reta

Published Date: January - 2025 | Publisher: MIR | No of Pages: 433 | Industry: Automotive | Format: Report available in PDF / Excel Format

View Details Buy Now 4211 Download Sample Ask for Discount Request Customization

Fleet Management Market Size, (USD 37.89 Billion by 2035) Share, Growth Analysis, By Component(Solution (Operations management, Vehicle maintenance & diagnostics, Fleet analytics & reporting, Compliance Management), By Fleet type(Commercial fleets (Light commercial vehicles, Medium and Heavy commercial vehicles), Passenger Vehicles (Internal combustion engine, Electric Vehicles)), By Vertical(Reta

Fleet Management Market Insights

Fleet Management Market size was valued at US$ 14.35 Bn. in 2024 and the total revenue is expected to grow at 24.09% through 2024 to 2030, Fleet Management Market is reaching nearly USD 37.89 Billion by 2035

Fleet Management Market Overview

Fleet management helps businesses efficiently track and maintain their vehicles. It includes vehicle tracking, diagnostics, finance, and driver management. This system allows companies that depend on transportation to minimize risks tied to staffing, operations, and other challenges. Benefits of fleet management consist of reduced fuel and operating expenses, enhanced safety, improved fleet operations, and real-time monitoring.

Sales of vehicles to business fleets in the United States rose by 4.34% to 75,677 in May 2022 compared to the previous year, according to Automotive Fleet research. Increased operational costs, driven by higher demand for utility vehicles, maintenance expenses, and growing compliance costs, have significantly impacted the fleet management industry.

Click here to get a FREE Sample Report

The Fleet Management System market mainly comprises software, hardware, connectivity solutions, and network infrastructure to provide fleet operators with effective monitoring and reporting. The solution will benefit fleet operators by reducing costs and resource expenditures while making it possible to ensure that the fleet is complying with established standards. Market vendors' primary focus has been increasing fleet efficiency by eliminating services that offer no appreciable benefit.

• The second significant trend behind software development for freight and logistics is the rapid adoption of automation, where fleet management solutions rapidly adopt this approach. The market is gaining considerable traction from new technologies such as the Internet of Things, connected trucks, and containers. Connecting vehicles to the Internet would also create further opportunities for efficient business.

• 5G deployment will also immensely affect fleet management, as it increases the speed of information transfer and allows fleets to reduce delays and gain productivity. Organizations using a mobile fleet management application will make the use of 5 G possible. The increased coverage and the introduction of immediate notifications enable fleet managers and their crews to remain in touch with each other and increase productivity.

Fleet Management Solutions Market Trends

Asset Management Segment Expected to Hold Significant Share

• Asset management systems and solutions allow for the creation of connections between property and maintenance management and financial by maintaining a direct connection to the (FAST), eliminating duplicate databases, and maintaining a This allows for the monitoring of an asset's effect on each activity to be carried out so that a review of cost-benefit analysis may take place, thanks to data availability and effective research.

• In the present market scenario for rapid digitalization in manufacturing and office environments, asset management and tracking solutions have become even more important to ensure a higher efficiency of operations. Several end users have benefited from recent developments in the Internet of Things technologies, enabling them to purchase economical and efficient asset-tracking equipment. The sales of asset tracker systems are driven by modern wide area and short-range Internet of Things equipment, which use minimal power and infrastructure compared with standard traditional Asset Tracker Systems.

• Global positioning systems (GPS) are widely used in vehicles, but their application is not limited. Organizations have also reported using them to monitor employees—GPS aids in tracking precise outdoor locations. As a preliminary application, the vehicle tracking system is designed to help businesses in transport or logistics keep track of all their assets, including vehicles and drivers.

Industry Insights

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 Companies

  • 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)

Recent Developments

  • In the year 2021 according to the agreement Inseego had to sell the Ctrack South African branch to the convergence partners, this firm is the investment management organization which focuses on the telecommunication industry, media and technology industries of Africa. 
  • For acquiring Donlen, Hertz global and Athene limited entered into a partnership in the year 2020
  • In the year 2022 Ford pro intelligence was introduced by Ford pro which is a system for fleet management.

Segments covered in the report

By Vehicle

  • Heavy Commercial Vehicle
  • Aircraft
  • Railway
  • Watercraft
  • Trucks/Cars/Buses
  • Ships/Vessels
  • Electric Vehicle
  • Light Commercial Vehicle

By Component

  • Solutions
    • Operation Management
    • Vehicle Maintenance and Diagnostics
    • Performance Management
    • Fleet analytics and reporting
    • Others
  • Services
    • Professional Services
      • Consulting & Advisory
      • Integration & Implementation
    • Managed 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

Click here to get a FREE Sample Report

Industry Insights

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 Companies

  • 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)

Recent Developments

  • In the year 2021 according to the agreement Inseego had to sell the Ctrack South African branch to the convergence partners, this firm is the investment management organization which focuses on the telecommunication industry, media and technology industries of Africa. 
  • For acquiring Donlen, Hertz global and Athene limited entered into a partnership in the year 2020
  • In the year 2022 Ford pro intelligence was introduced by Ford pro which is a system for fleet management.

Click here to get a FREE Sample Report

Market Dynamics

What are the drivers of fleet management market?

  • Growing need of public transport- the demand for the public transport has increased in the recent years in order to provide access as well as mobility for employment. Increased need for the medical facilities has created more demand for public transport. Public transport also provides opportunities for recreational purposes in various communities across the world due to which the demand for public transport is expected to grow in the coming years.
  • Increase in the international trade- as the restrictions of the pandemic subsided international trade has grown. as international trade helps in better innovation and productivity in the country it is expected to grow in various regions across the world. The markets of various countries are exposed due to the policies that support international trade and it shall also create more demand for fleet management
  • Increased use of the wireless technology - wireless technology is in great demand and it is expected to grow in the coming years as it helps in making various decisions associated with repairing, renting as well as selling of the vehicles many tools are available for fleet management. Satellite networks and cellular networks provide wireless transfer of data.

Market Challenges

  • Growing cyberthreats- fleet managers have concerns about the security of data. Important information associated with the fleets which has mentions of the routes traversed and the personal details of the drivers can be exploited and used for any criminal activities and this is another major challenges that the industry faces.
  • GPS connectivity issues- the increased use of the GPS navigation system needs connectivity but the connectivity can be hampered due to the existence of mountains, trees and huge buildings of various places. Having accurate signal becomes harder in such cases.

Market Opportunities

  • Rapid urbanization- the growing trend of ride-hailing or shared mobility has increased in the urban areas there are many apps that help in sharing cars all of these will help in the growth of the market in the coming years. These unique mobility solutions are provided on the basis of the needs of an individual.
  • Increased use of fleet management solutions- there has been a demand for the systems and solutions that help in managing the fleet. As the industry focuses on maximizing the productivity at minimum costs the use of software will be instrumental in the growth of the market

Vehicle Insights

On the basis of the vehicle type, the commercial vehicle segment held highest revenue share in 2023. 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.

size was valued at US$ 14.35 Bn. in 2024 and the total revenue is expected to grow at 24.09% through 2024 to 2030, Fleet Management Market is reaching nearly USD 37.89 Billion by 2035

 

Global Fleet Management Market
Report Coverage Details
Base Year 2024 Forecast Period 2025-2035
Historical Data 2018 to 2024 Market Size in 2024 US $ 14.35 Bn.
Forecast Period 2024 to 2030 CAGR 24.09% Market Size in 2035 US $ 37.89 Bn.
Segments Covered by Component Solution Service
by Deployment type On-premises Cloud
by Fleet type Commercial fleets Passenger cars

Click here to get a FREE Sample Report

Fleet Management Solutions Market News

• June 2023PowerFleet has driven green initiatives by modernizing and aligning fleets with corporate environmental, social, and governance (ESG) initiatives with its SaaS-based sustainability data-powered application; this latest addition to unity, Powerfleet's fleet intelligence platform aims to minimize carbon footprint and material waste, enhance maintenance and fuel efficiency, help comply with government mandates, and reduce overall operational costs while accelerating revenue growth for customers.

• May 2023Inseego launches new support portal to enhance fleet customer experience; the Customer Self-Service Portal will speed up and simplify the resolution of requests by providing a user-friendly means of raising and tracking support tickets, where Fleet customers can now create new support tickets via the portal, which are instantly allocated to one of Inseego's customer support specialists and given a case reference number for enhanced tracking. Notifications alert customers of any status changes, enabling them to stay fully up-to-date with the progress of cases without the need to call the support center or send any follow-up emails.

MaaS (mobility-as-a-service) could generate new income streams – The rising use of ride-hailing and car-sharing applications is a result of increased urbanization, which is aiding the move to shared mobility. MaaS puts people at the center of transportation services, providing them with custom mobility solutions tailored to their specific needs. It will have a huge impact on the fleet business in the future, such as how fleets will be given and managed. With the predicted drop in the number of personally owned vehicles, fleet management suppliers' service portfolios are expected to undergo minor modifications (new service offers, upgraded service offerings, and service pruning).

Data quantities are rapidly expanding, and cyber risks are becoming more prevalent – The use of telematics in fleets has resulted in massive amounts of data being generated. As a result, fleet managers are concerned about two major security issuesprivacy and cybercriminal exposure. The make of the vehicle, the personal information of the drivers, and the routes taken are all examples of sensitive information found in fleet data. The information can be used for malevolent or criminal purposes, such as vehicle robberies and organized crime. End customers are hesitant to use telematics solutions because of data privacy concerns, particularly in North American countries and China, where rules are strict. Countries are currently monitoring the situation, and numerous data-related laws and regulations are being gradually implemented.

Fleet Management Market Growth Factors

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.

  • The use of advanced technologies and the introduction of innovative systems and softwares will also help in the growth of the market in the coming years.
  • The availability of applications that are cloud based and the systems that provide electronic information will also help in the growth of the market during the forecast period.
  • Two-way communication between the vehicle and the driver through the use of softwares has also helped in the growth of the market in the recent years.
  • One of the most significant components that will drive the market growth in the coming years is the availability of the software for fleet management which has helped in increasing the efficiency of various businesses by providing real time information in order to make good decisions.

Click here to get a FREE Sample Report

Table of Content

  • Introduction
    • Objectives of the Study
    • Definitions
    • Market Scope
  • Research Methodology
    • Information Procurement
    • Secondary & Primary Data Sources
    • Market Size Estimation
    • Market Assumptions & Limitations
  • Executive Summary
    • Market Overview & Outlook
    • Supply-Demand Trend Analysis
    • Segmental Opportunity Analysis
  • Market Dynamics & Outlook
    • Market Dynamics
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
    • Porter's Five Forces Analysis
      • Competitive Rivalry
      • Threat of Substitute Products
      • Bargaining Power of Buyers
      • Threat of New Entrants
      • Bargaining Power of Suppliers
  • Key Market Insights
    • Technology Analysis
    • Pricing Analysis
    • Value Chain Analysis
    • Ecosystem of the Market
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
    • Innovation Matrix
    • Top Investment Analysis
    • Key Success Factors
    • Degree of Competition
  • Fleet Management Market by Component
    • Market Overview
    • Solutions
      • Operations Management
      • Vehicle Maintenance and Diagnostics
      • Fleet Analytics and Reporting
      • Compliance Management
      • Performance Management
      • Other Solutions
    • Services
      • Professional Services
      • Consulting
      • Deployment & Integration
      • Support & Maintenance
      • Managed Services
  • Fleet Management Market by Fleet Type
    • Market Overview
    • Commercial Fleets
      • Light Commercial Vehicles
      • Medium and Heavy Commercial Vehicles
    • Passenger Vehicles
      • Internal Combustion Engine Vehicles
      • Electric Vehicles
  • Fleet Management Market by Vertical
    • Market Overview
    • Retail
    • Transportation & Logistics
    • Healthcare & Pharmaceuticals
    • Construction
    • Utilities
    • Oil, Gas, and Mining
    • Government
    • Other Verticals
  • Fleet Management Market by Region
    • Market Overview
    • North America
      • USA
      • Canada
    • Europe
      • Germany
      • Spain
      • France
      • UK
      • Italy
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • Latin America
      • Brazil
      • Rest of Latin America
    • Middle East & Africa (MEA)
      • GCC Countries
      • South Africa
      • Rest of MEA
  • Competitive Landscape
    • Top 5 Player Comparison
    • Market Positioning of Key Players (2024)
    • Strategies Adopted by Key Market Players
    • Recent Activities in the Market
    • Key Companies' Market Share (%), 2024
  • Key Company Profiles
    • Verizon Connect
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Trimble
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Geotab
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Samsara
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Bridgestone
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Inseego
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Solera
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Teletrac Navman
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Holman
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • ORBCOMM
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • MiX Telematics
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Verra Mobility
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Chevin
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Zebra Technologies
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Motive
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Michelin
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • GPS Insight
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • ClearPathGPS
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Fleet Complete
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Gurtam
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Via Transportation
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Fleetroot
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Ruptela
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments
    • Freeway Fleet Systems
      • Company Overview
      • Business Segment Overview
      • Financial Updates
      • Key Developments

List Tables Figures

Fleet Management Solutions Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Value Chain Analysis
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of the Impact of COVID-19 on the Industry

5. IMPACT OF CHIP SHORTAGE IN AUTOMOTIVE AND DOWNSTREAM EFFECTS

6. TELEMATICS (FLEET HARDWARE) OVERVIEW

7. MARKET DYNAMICS

  • 7.1 Market Drivers
    • 7.1.1 Renewed Emphasis on Streamlining Fleet Operations
    • 7.1.2 Availability of a Wider Range of Reporting and Analytics Services
    • 7.1.3 Affordable Hardware and Access to Greater Connectivity
  • 7.2 Market Restraints
    • 7.2.1 Lack of Awareness among Smaller Fleet Owners
    • 7.2.2 Uncertainties in transport industry due to COVID-19

8. MARKET SEGMENTATION

  • 8.1 By Deployment Model
    • 8.1.1 On-Premise
    • 8.1.2 On-Demand
    • 8.1.3 Hybrid
  • 8.2 By Solution
    • 8.2.1 Asset Management
    • 8.2.2 Information Management
    • 8.2.3 Driver Management
    • 8.2.4 Safety and Compliance Management
    • 8.2.5 Risk Management
    • 8.2.6 Operations Management
    • 8.2.7 Other Solutions
  • 8.3 By End User
    • 8.3.1 Transportation
    • 8.3.2 Energy
    • 8.3.3 Construction
    • 8.3.4 Manufacturing
    • 8.3.5 Other End-Users
  • 8.4 By Geography
    • 8.4.1 North America
    • 8.4.1.1 United States
    • 8.4.1.2 Canada
    • 8.4.2 Europe
    • 8.4.2.1 Germany
    • 8.4.2.2 United Kingdom
    • 8.4.2.3 France
    • 8.4.2.4 Rest of Europe
    • 8.4.3 Asia Pacific
    • 8.4.3.1 China
    • 8.4.3.2 Japan
    • 8.4.3.3 India
    • 8.4.3.4 Rest of Asia Pacific
    • 8.4.4 Latin America
    • 8.4.4.1 Brazil
    • 8.4.4.2 Argentina
    • 8.4.4.3 Rest of South America
    • 8.4.5 Middle East and Africa
    • 8.4.5.1 United Arab Emirates
    • 8.4.5.2 Saudi Arabia
    • 8.4.5.3 South Africa
    • 8.4.5.4 Rest of Middle East and Africa

9. COMPETITIVE LANDSCAPE

  • 9.1 Company Profiles
    • 9.1.1 Cisco Systems Inc.
    • 9.1.2 AT&T Inc.
    • 9.1.3 Ctrack (Inseego Corp. )
    • 9.1.4 I.D. Systems
    • 9.1.5 IBM Corporation
    • 9.1.6 Astrata Group
    • 9.1.7 Mix Telematics Limited
    • 9.1.8 Omnitracs LLC
    • 9.1.9 Tomtom NV
    • 9.1.10 Trimble Navigation Limited
    • 9.1.11 Verizon Communications Inc.
    • 9.1.12 Wheels Inc.
    • 9.1.13 Tenna LLC
    • 9.1.14 Samsara Network Inc.
    • 9.1.15 KeepTrucking Inc.
    • 9.1.16 Fleet Complete Inc.
    • 9.1.17 Odoo SA
    • 9.1.18 Fleetable (Affable Web Solutions Company)
    • 9.1.19 Octo Group SpA
    • 9.1.20 Geotab Inc.
    • 9.1.21 Rarestep Inc. (FLEETIO)
    • 9.1.22 Switch Board Inc.
    • 9.1.23 Azuga holdings Inc.
    • 9.1.24 Chevin Fleet Solutions
    • 9.1.25 One Step GPS LLC
    • 9.1.26 Transflo
    • 9.1.27 Go Fleet Inc.
    • 9.1.28 Advance Tracking Technologies Inc.
    • 9.1.29 Donlen Corporation By Hertz Holdings
  • *List Not Exhaustive


 

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email