IMARC Group, a leading market research company, has recently releases report titled “Fleet Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global fleet management system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
Report Attributes Details Market Size in 2022 US$ 23.8 Billion Market Forecast in 2028 US$ 43.1 Billion Growth rate (2023 to 2028) CAGR of 10.5% Base Year of the Analysis 2022 Forecast Period 2023-2028
Fleet management (FM) is the control and administration of commercial automobiles, including cars, trucks, vans, marine vessels, aircraft, etc. It involves performing numerous functions, such as fuel management, vehicle maintenance, vehicle acquisition, driver safety, regulatory compliance, etc. Fleet management systems are integrated with software programs to streamline routine tasks and improve employee efficiency. They assist in maintaining costs, provide real-time access to the fleet, improve the life span of vehicles, increase customer retention rates, ensure driver satisfaction, etc. As a result, fleet management systems find widespread applications across various sectors, including energy, utility, automotive, manufacturing, retail, construction, logistics, transportation, etc.
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The escalating usage of cloud computing and Internet of Things (IoT) technologies in the transportation sector is primarily driving the fleet management system market. Besides this, the elevating demand for FM solutions in the mining sector to enhance overall safety, monitor driver behavior, and minimize maintenance costs is further augmenting the market growth. Apart from this, the introduction of several innovative services, such as asset management, two-way communication, and customer relationship administration, is also catalyzing the global market. Moreover, the growing popularity of 4G and 5G technologies that assist in enhanced productivity, area coverage, access, and user response is acting as another significant growth-inducing factor. Furthermore, the launch of favorable policies by government bodies to promote smart transport techniques and various innovations, including in-vehicle cameras with telematics compatibility and remote tachograph reporting, are expected to bolster the fleet management system market in the coming years.
The report has segmented the market into the following categories:
Breakup by Component:
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The report covers the major market players including:
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