The fleet management system is a vehicle based system which works in a similar manner like GPS. However, it can be used for logging in data to the systems.
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According to MarketIntelReports' “Fleet Management Market by Deployment Type, Solution (Operation, Asset, Driver Management, Vehicle Maintenance & Leasing, and Driver Information System,) Connectivity Technology, Industry, Service, and Region - Global Forecast to 2021”:
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The increase in mobile connectivity, usage of 4G and 5G technologies has driven the demand for automotive fleet management. Organisations make use of this software for higher efficiency and performances at low costs.
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The Fleet Management Market offers benefits like reduced fuel, enhanced safety, and optimized fleet operations. The activities which are necessary in the enterprise fleet management are vehicle and driver tracking, two way communication, after sales services, and others.
Scope & Regional Forecast of the Fleet Management Market
The growing demand for logistics and transport boosts the demand for Fleet Management Market. Tracking devices offer advantages like improvement in maintenance planning, vehicle performance, and schedule of fleet routing which gives customer satisfaction.
Connected vehicles and smart transportations provided by different organisations also propel the market growth.
North America holds a major share in the fleet car solutions. Growing demand for freight traffic spurs the market growth.
Europe is the second largest market in terms of revenue, since UK, France, and Germany specialize in fleet telematics solutions.
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Government organisations of different countries have introduced policies to improve the performance of vehicle tracking services. Eg, the US General Service Administration provides centralized procurement for the federal government which lays down specific rules for managing the public sector fleet in US.
Access to connectivity, reducing hardware costs, and increasing demand for operational streamlining are assets for the industry growth. Lack of awareness among the small fleet owners with large fleet owners inhibits the market growth.
Segmentations & Key Players Involved in the Fleet Management Market
The Fleet Management Market can be broken down into various segments as follows:
- Product- Cloud, On-premises, and Hybrid.
- Solution- Operation management, Asset management, Driver management.
- Region- North America, Europe, Middle East and Africa, Asia-Pacific, Latin America.
Some of the key players involved in the Fleet Management Market are as follows:
- AT&T Inc
- Verizon Communications
- Zonar Systems
- Eresource Infotech Pvt. Ltd.
- CarTrack Technologies Co. Ltd.
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