Fleet Management Market To Gain A Massive 22% CAGR | Comprehensive Analysis, Historical Analysis, Development Strategy, Emerging Technologies, Global Trends and Forecast by Regions
Research Reports
Dec 29, 2020
Fleet management has gained increased popularity in recent times, especially in sectors where several transport modes have to be monitored and guided. The insights into the automobile industry are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. A CAGR of 22 % is anticipated to be witnessed by the market in the course of the forecast period.
The advancements in logistics and transportation are expected to play a major role in the growth of the fleet management market. The rising focus on telematics and accident management is projected to exert a favorable influence on the fleet management market. Furthermore, incremental demand from sectors such as retail and logistics, mining, utilities, construction, public and private transport is anticipated to motivate the market in the forecast period further.
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Segmental Analysis
The segment-based study of the fleet management market is carried out on the basis of deployment type, management type, connectivity type, services, and regions. On the basis of deployment types, the fleet management market comprises of on-premises, cloud and hybrid. Based on the management type, the fleet management market comprises of asset management, driver management, operation management. Based on the connectivity type, the fleet management market comprises of satellite navigation and cellular system. Based on the service, the fleet management market consists of integration and deployment services, managed services and professional services. By region, the fleet management market is segmented into North America, Europe, APAC and other global regions.
Detailed Regional Analysis
The regional evaluation of the fleet management market comprises of regions such as North America, Europe, APAC, and other global regions. The European and North American region are projected to influence the fleet management market owing to the strict norms on vehicle emissions and enormous innovations in the fleet management technology placement. The Asia Pacific region is likely to be the fastest developing region with amplified openings in nations such as China and India. Moreover, the large scale adoption of mobile and web-based business services in these regions has been observed as the primary driver for the market in the region.
Competitive Analysis
The financiers in the market are also responsive to the needs that may take place in the future and are thus assigning their resources in a visible manner. The augmentation in product quality is estimated to aid the market companies in the development of the user base to advance increased productivity in the coming years. The demographic outline of the market gives an impact of being accepted, which is allowing the producers to research with the product features, to offer a more efficient and satisfying user experience. The regulations being applied by government and trade experts on the international scale are demonstrating to be favorable to the global market growth. The capability to shape a robust delivery chain in the market is anticipated to use the consumer source in the market. The target market is anticipated to display distinct development in terms of upcoming projections and trends. The barriers to entry in the market are expected to not pose a chief deterrent to the progress of the global market.
The strategic contenders in the fleet management markets are I.D. Systems, Inc. (U.S), Verizon Telematics Inc.(U.S.), Fleetmatics Group PLC (U.S.), Trimble Inc. (U.S), Zonar Systems, Inc. (U.S.), WorkWave LLC(U.S.), and Cisco Systems, Inc. (U.S.).
Industry Updates:
Jan 2020 A front-runner in dedicated conveyance, commercial fleet management, and supply chain solutions, Ryder System, Inc., and In-Charge Energy, Inc., a privately-held energy solutions company established in California, and ABB, an international technology forerunner in electrification, jointly announced a first-of-its-kind collaboration to deliver countrywide turnkey energy and electric vehicle (EV) charging setup as a service to Ryder clienteles.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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