Overview and Scope
Fleet management software refers to computer software that enables the
management of various aspects related to a fleet of vehicles operated by
organizations. This software helps with tasks ranging from vehicle acquisition
to disposal, including vehicle inventory, maintenance, licensing, insurance,
cost management, driver management, tracking, incident management, and more.
Sizing and Forecast
The fleet management software market size has grown rapidly in recent years. It
will grow from $20.53 billion in 2023 to $24.04 billion in 2024 at a compound
annual growth rate (CAGR) of 17.1%. The
growth in the historic period can be attributed to demand for autonomous and
electric vehicles (EVs), real-time monitoring, predictive maintenance, the rise
of mobility-as-a-service (MaaS), and increasing connectivity.
The fleet management software market size is expected to see rapid growth in
the next few years. It will grow to $45.42 billion in 2028 at a compound annual
growth rate (CAGR) of 17.2%. The growth
in the forecast period can be attributed to the digitization of vehicles,
cybersecurity concerns, safety and security, regulatory compliance, and
customer expectations. Major trends in the forecast period include global
positioning systems, mobile communications, driver monitoring systems, behavior
analytics, mobile and cloud-based fleet management solutions, artificial
intelligence and machine learning, and IoT technologies.
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Segmentation & Regional Insights
The fleet management software market covered in this report is segmented –
1) By Type: Operations Management, Vehicle Maintenance And Diagnostics,
Performance Management, Fleet Analytics And Reporting, Other Types
2) By Deployment: On-premises, Cloud
3) By Fleet Type: Commercial, Passenger Cars
4) By End-Users: Manufacturing, Oil And Gas, Transportation And Logistics,
Construction, Chemical, Energy And Utilities, Retail, Other End-Users
North America was the largest region in the fleet management software market in
2023. Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the fleet management software market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East and Africa.
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Major Driver Impacting Market Growth
The rapid growth of e-commerce activities is expected to propel the growth of
the fleet management software market going forward. E-commerce activities
encompass online buying and selling, digital payments, and diverse transaction
models, revolutionizing commerce through the Internet. E-commerce activities
are growing due to increasing internet penetration, the convenience of online
shopping, and evolving consumer preferences for digital transactions. Fleet
management software is widely utilized in e-commerce for optimizing delivery
operations, enhancing efficiency, and ensuring timely and accurate order
fulfillment, thereby improving overall customer satisfaction and driving the
growth of online retail. For instance, in February 2024, according to a report
published by the U.S. Census Bureau, a division of the United States Department
of Commerce, total e-commerce sales in the US reached an estimated $1,118.7
billion in 2023, reflecting a 7.6% increase compared to 2022. E-commerce sales
in 2023 accounted for 15.4% of total sales, marking an increase from 14.7% of
total sales in 2022. Therefore, the rapid growth in e-commerce activities will
drive the growth of the fleet management software market.
Key Industry Players
Major companies operating in the fleet management software market are AT&T
Inc, Intel Corporation, International Business Machines Corporation, Cisco
Systems Inc, ZF Friedrichshafen AG, Oracle Corporation, LeasePlan Corporation
N.V., Zebra Technologies Corporation, Garmin Ltd., Trimble Inc., FLEETCOR
Technologies Inc, Holman Automotive Inc., Element Fleet Management Corp.,
Verizon Connect, Geotab Inc., TomTom Telematics BV, Omnitracs LLC, Samsara Inc,
Teletrac Navman, Orbcomm, Emkay Inc., Wheels Inc., MiX Telematics Ltd., Lytx
Inc., Magellan Navigation Inc., Masternaut Limited, Fleetio, GPS Insight,
Avrios, Quartix Ltd
The fleet management software market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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