The global Commercial Vehicle Fleet Management System Market was valued at USD 19.51 billion in 2020 and is projected to grow at a CAGR of 10.82% from 2021 to 2028 to reach USD 42.75 billion by 2028.
Commercial Vehicle Fleet Management System Market Overview:
The Commercial Vehicle Fleet Management sector has entered the digital age, with improved vehicle-infrastructure connectivity and driver-vehicle interaction. Various technologies such as machine learning, cloud solutions, GPS and big data analytics facilitate commercial vehicle fleet management system. Along with better management, the software is expected to improve fleet performance and service quality. For example, intelligent fleet management software Fleet uses machine learning, artificial intelligence, predictive analytics and sensors to help fleet managers improve safety and efficiency and make informed decisions in a cost-effective manner. The smart dashboard keeps users informed of the vehicle's status, location, and on-board diagnostic information in real time. Consequently, new and interconnected technologies are changing the fleet business.
Commercial Vehicle Fleet Management System market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Commercial Vehicle Fleet Management System market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Commercial Vehicle Fleet Management System market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Top Key Players include in the Commercial Vehicle Fleet Management System Market are
Omnitracs, Trimble, Fleetmatics, Alphabet, Telenav, Arvento, Teletrac, EMKAY, Gurtam, ARI, FleetCor, Navman Wireless, TomTom, I.D. Systems, AssetWorks, BSM Wireless, E6GPS, Mike Albert, Microlise, Etrans, Wiesless Matrix, Scania Fleet, Transcore, Transics, and others.
The Commercial Vehicle Fleet Management System market research report is categorized based on type, applications and region.
On the Basis of Type:
- Operational Fleet Monitoring and Management
- Vehicle Dispatch
- Driver Scheduling
- Asset Tracking
- Condition Based Maintenance
- Security and Safety Management
On the Basis of Application:
- Logistics and Transportation
- Public Transportation
On the Basis of Region:
Geographically, the global Commercial Vehicle Fleet Management System market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Commercial Vehicle Fleet Management System region is dominating this market in the upcoming future.
The Asia Pacific region is expected to develop at the fastest CAGR during the forecast period. Asia Pacific is being transformed using new technologies across many sectors and industries. Expansion of infrastructure in the Asia-Pacific region, especially in Japan, South Korea, Australia, Singapore, China, and India. Untapped market strength in the region, rising awareness towards driver safety and accident prevention, upcoming regulations to improve road safety, growth in the transportation and logistics industry, and introduction of 4G LTE technology and smartphones are all aiding the region's fleet Manage market growth. The presence of several manufacturing plants in China, Japan, and India is expected to drive the growth of the market in Asia Pacific. India is poised for rapid growth owing to the country's stringent emissions and fuel restrictions. A number of start-ups, including LocoNov and Aeris Communications, are partnering with global players to provide fleet solutions in India.
North America is expected to dominate the global market owing to the massive deployment of real-time tracking systems across industries for seamless company operations. Increasing adoption of vehicle tracking systems, increasing demand for advanced software from automakers such as General Motors, Ford, and Fiat Chrysler, and the status of the U.S. as an early adopter of digital technologies are some of the factors driving the market expansion in this segment.
As Germany is the largest automotive center in the world, Europe has the second largest market share. Commercial fleets are vital to the European economy. Automotive manufacturing is one of the most important industries in Europe, producing around 18.5 million cars, trucks, buses and vans every year. This is expected to spur regional software demand.
Middle East & Africa is expected to have high demand owing to increasing usage in industries such as oil & gas, manufacturing, chemicals, etc. Likewise, Latin America may offer plenty of prospects for industry players. Latin America has a high proportion of road traffic fatalities due to poor infrastructure and inadequate safety measures. To ensure safety, the requirement for proper fleet management is expected to increase.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Commercial Vehicle Fleet Management System Market report scope
CAGR of 10.82% during forecast period.
Operational Fleet Monitoring and Management, Vehicle Dispatch, Driver Scheduling, Asset Tracking, Condition Based Maintenance, Security and Safety Management
Logistics and Transportation, Public Transportation
Omnitracs, Trimble, Fleetmatics, Alphabet, Telenav, Arvento, Teletrac, EMKAY, Gurtam, ARI, FleetCor, Navman Wireless, TomTom, I.D. Systems, AssetWorks, BSM Wireless, E6GPS, Mike Albert, Microlise, Etrans, Wiesless Matrix, Scania Fleet, Transcore, Transics
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Commercial Vehicle Fleet Management System market?
Who are the key vendors of the global Commercial Vehicle Fleet Management System market?
What are the leading key industries of the global Commercial Vehicle Fleet Management System market?
Which factors are responsible for driving the global Commercial Vehicle Fleet Management System market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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