Fleet Management Software Market Expects Managed Services to Fuel Revenue to $27.90 Billion by 2021.
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The Fleet Management Market focuses on the development of fleet management solutions such as fleet tracking and vehicle management systems. Fleet management services provide enterprises the ability to lower the risk component that is usually bundled with the purchase and maintenance of vehicles as well as the efforts that go into improving their productivity.
Over the last few years, the Fleet Management Market has experienced a big change in enterprise priorities as operational efficiency has transformed into the buzzword. Constant hikes in maintenance expenses, unstable price of fuel and growth in reports of accidents have transformed the services put forward by fleet management companies into a necessity to play a positive part in ensuring the proper operation of enterprise plans.
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Scope & Regional Forecast of the Fleet Management Software Market
The Fleet Management Market anticipated the importance of managed services to keep rising with the passage of time. Companies simply want the best whenever customer experience is at stake.
Integration of ICT in transportation has also picked up pace and led to the growth of several fleet management companies.
The Fleet Management Market has also come to the conclusion that the manufacturing vertical is another segment with a great potential for growth. The adoption of fleet management solutions by manufacturing companies is set to rise on a large-scale.
The Fleet Management Market has witnessed North America grab the highest share in 2016 owing to various technological improvements and the early adoption of fleet management techniques. In the future, fleet management services are expected to experience the highest CAGR in Asia-Pacific during the forecast period of 2016-2021.
This major drivers of this growth are expected to be rising adoption of technology and the setting up of huge manufacturing hubs in this region.
Segmentations & Key Players Involved in the Fleet Management Software Market
The Fleet Management Software Market can be broken down into various segmentations on the basis of -
- Deployment Type: Cloud, On-Premises and Hybrid.
- Solution: Operation Management (Routing and Navigation, Supply Chain Optimization, Mobile Workforce Management, Analytics), Asset Management (Vehicle Tracking and Fuel Management, Sensor Monitoring, Vehicle Maintenance and Leasing, Vehicle Security), Driver Management (Driver Information System, Drive Time Analysis, Insurance Risk Management).
- Connectivity Technology: Satellite Gnss and Cellular System.
- Service: Professional Services, Integration and Deployment Services and Managed Services.
- Industry Vertical: Manufacturing, Government, Transportation and Logistics, Energy and Utilities, Retail, Construction and Others.
- Geographical Location: North America, Europe, Asia-Pacific, Middle-East & Africa and Latin America.
Some of the key players involved in the Fleet Management Software Market are as follows:
- Fleetmatics Group PLC
- IBM Corporation
- Verizon Communications, Inc.
- I.D. Systems, Inc.
- Trimble Navigation Limited
Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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