DUBLIN, April 18, 2023 /PRNewswire/ — The “Fleet Management Systems: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Fleet Management Systems Market to Reach $71.7 Billion by 2030
The global market for Fleet Management Systems estimated at US$21.5 Billion in the year 2022, is projected to reach a revised size of US$71.7 Billion by 2030, growing at a CAGR of 16.3% over the analysis period 2022-2030.
Solutions, one of the segments analyzed in the report, is projected to record 15.4% CAGR and reach US$43.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 17.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $6.6 Billion, While China is Forecast to Grow at 21% CAGR
The Fleet Management Systems market in the U.S. is estimated at US$6.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2030 trailing a CAGR of 21% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.1% and 14.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- Fleet Management Systems: An Introduction
- Core Functionalities
- Captivating Merits
- Impact of Covid-19 and a Looming Global Recession
- Emerging Trends Shaping Fleet Management in Post-Pandemic World
- Pandemic Leads to Deeper Dependence on Telematics for Fleet Management
- Impact of Remote Working on Vehicle Utilization
- Rising Demand for Telematics
- Problems Faced by Fleet Services & Operators amid COVID-19 Pandemic
- Global Economic Update
- World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemics
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Expanding EV Fleets for Shared Mobility & Logistics to Drive Demand for EV Fleet Management Systems
- Here’s Why EV Fleet Management Systems are Important
- As Shared EV Mobility Explodes Into a Major Trend, Fleet Operators Will Need the Right EV Fleet Management Solution to Capitalize on the Opportunity With Cleaner Fleets, Lower Costs and Higher Profits
- Next-Gen Fleet Management Platforms Reinforce Focus on Reducing Carbon Footprint
- Greenhouse Gas Emissions in the EU by Transport Mode
- Fleet Management Systems Enable Compliance with Working Hours Regulations
- Unpredictability and Volatility of Fuel Prices and the Need to Reduce Fuel Costs Drive the Uptake of Fleet management Systems
- Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis
- Autonomous Vehicles Drive the Need for New Autonomous Fleet Management Solutions
- Autonomous Vehicles Commercialization & Technology Penetration Timeline
- Persistent & Nascent Trends to Watch-for in Commercial Fleet Management Space
- Increasing Uptake of 5G Technology to Influence Key Aspects
- Vehicle Telematics Garners Significant Attention for Fleet Management Function
- Commercial Vehicle Telematics Play Crucial Role in Improving Fleet Management Operations
- Companies Move to Digital Transformation of Fleet Management Solutions to Gain Competitive Edge
- Advent of New Technologies Make a Phenomenal Change in Fleet Management
- How IoT and AI are Transforming Fleet Management
- Big Data Offers Better Insights
- Fleet Management Solutions Exploiting IoT: Key Use Cases
- Rise of On-Demand Transport Services & Emphasis On Productivity Enhancement Make Fleet Management the Largest Telematics Based Services Sector for M2M
- Fleet Management Systems Play a Prominent Role in Oil & Gas Sector
- Logistics Extends a Lucrative Opportunity for Fleet Management
- Growing Importance of Fleet Management in ecommerce Logistics
- Self-Driving Trucks Emerge Into the Spotlight
- Challenges & Issues
- Challenging Aspects & IoT-Driven Remedies for Fleet Managers
FOCUS ON SELECT PLAYERS (Total 195 Featured)
- Automile Inc.
- Avrios
- Azuga, Inc.
- Chevin Fleet Solutions
- ClearPathGPS, Inc.
- Donlen Corporation
- Fleet Complete
- Fleetio
- Fleetroot
- Freeway Fleet Systems
- Geotab Inc.
- GPS Insight
- Gurtam
- Holman, Inc.
- Inseego Corp.
- Masternaut Limited
- MiX Telematics
- Motive Technologies, Inc.
- Omnitracs LLC
- Orbcomm Inc.
- Panasonic Holdings Corporation
- RUPTELA
- Samsara Inc.
- Teletrac Navman US Ltd.
- Titan GPS
- TomTom International BV.
- Trimble Inc
- Verizon Connect
- Wheels, LLC
- Zebra Technologies Corporation
- Zonar Systems
For more information about this report visit https://www.researchandmarkets.com/r/y1cajd
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