ALBANY, New York, January 21, 2019 /PRNewswire/ --
Transparency Market Research (TMR) witnesses the global fleet
management solution market has a highly consolidative vendor
landscape. Some of the companies dominating the global fleet
management solution market are TomTom Telematics BV, Element Fleet
Management Corp., Magellan Navigation, Inc., and Wheels, Inc. The
top five companies accounted for the leading share of 80% in the
global fleet management solutions market. Additionally, these
players are taking initiatives such as acquisitions and
collaborations for business expansion and expanding reach to their
customers.
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According to TMR, the global fleet management solution market
secured the revenue of US$12.57 bn in
the year 2015 and expected to attain a value of US$91.94 bn by the end of the year 2025. The
market is anticipated to expand with a CAGR of 22.6 % over the
forecast period from 2017 and 2025.
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Based on the deployment, the cloud-based deployment segment
dominated the global fleet management solutions market and is
expected to remain dominant over the forecast period. On the basis
of type, operations management solutions segment is expected to
dominate the global market by accounting leading share over the
forecast period. Based on the region, North America dominated the global fleet
management solutions market owing to the presence of the key
players in the region.
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Growing Demand for Cost Cutting is Propelling Adoption of
Fleet Management Solutions
The global fleet management solution market is gaining traction
due to growing adoption of analytics linked to fleet management
from numerous end-use industries. The industries spend substantial
share of their available operational costs on transportation.
Efficiency of the fleet management solutions helps to lower the
operational cost by the activities such as vehicle monitoring,
driver management, and operations management. The numerous end use
industries are adopting the fleet management solutions for lowering
cost of the operations and likely to propel growth of the global
fleet management solutions market.
These analytics helps to monitor and lowering the consumption of
fuel is boosting growth of the global fleet management solutions
market. Additionally, numerous governments have imposed the
regulations on the consumption of fuel; fleet management solutions
help to maintain their fuel consumption and pass the regulations.
These factors are promoting growth of the global fleet management
solutions market.
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Benefits of Small Fleets Is Propelling Growth of the Fleet
Management Solutions
Additionally, growing inclination toward the companies of fleet
management solutions to construct the smaller fleets is augmenting
adoption of the global fleet management solutions. Smaller fleets
lowers the total cost of ownership, which is further propelling
adoption of the fleet management solutions and likely to boost
growth of the global fleet management solutions market.
Despite these growth prospects, the high manufacturing cost
coupled with fluctuating process of the fuel is restraining growth
of the global fleet management solutions market. Additionally, the
market is price-sensitive, which is hampering growth of the global
fleet management solutions market.
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This information is encompassed in the report by TMR, titled
"Fleet Management Solution Market (Deployment - Cloud and
On-Premise; Type - Vehicle Management, Driver Management, and
Operations Management, End-Use Industry - Transportation &
Logistics, Automotive, Retail, Government, and Shipping) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 -
2025."
For the study, the fleet management solution market has been
segmented as follows:
By Deployment
By Type
- Vehicle Management
- Driver Management
- Operations Management
By End-Use Industry
- Transportation & Logistics
- Automotive
- Retail
- Government
- Shipping
By Geography:
- North America
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- Australia
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East &
Africa
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