DUBLIN, March 15, 2024 /PRNewswire/ — The “Asia-Pacific Fleet Management Market – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
The Asia-Pacific fleet management market is projected to reach $2.43 billion by 2031 from $0.34 billion in 2022, growing at a CAGR of 24.45% during the forecast period 2022-2031
Technological advancements are driving an accelerated growth in commercial vehicle fleet management tools over the predicted period. It is projected that significant market development activities will be enhanced by the advent of connected vehicles.
The fleet management market in Asia-Pacific is expanding significantly. Growing awareness of the advantages these systems offer the commercial vehicle sector is driving the growth of the fleet management market. Furthermore, the adoption of new technologies by the industrial revolution has led to a growth in fleet management in the APAC market.
Market Introduction
The APAC fleet management industry is evolving significantly due to technological advancements in commercial vehicle management technologies. Throughout the course of the forecast period, these tools are anticipated to grow fast, and the widespread usage of linked cars is anticipated to greatly boost crucial market development efforts.
Due to fleet firms’ increasing awareness of the many benefits offered by state-of-the-art management systems, the APAC fleet management industry is now expanding. This greater awareness is one of the primary factors propelling the market’s growth, which is also being helped by the ongoing industrial revolution and the APAC commercial vehicle industry’s growing use of cutting-edge technologies.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of fleet management products available by Component (Hardware, Software, and Service), by Deployment (On-Premises and Cloud), by Application Type (Real Time Location Monitoring, Fuel Management, Maintenance Management, Driver Management, Weight/Volume Tracking, and Accounting and Insurance), by Commercial Vehicle Type (Light Commercial Vehicles and Heavy Commercial Vehicles). Increasing demand worldwide is pushing the sales of fleet management systems. Therefore, the fleet management business is a low-investment and high-revenue generating model.
Growth/Marketing Strategy: The APAC Fleet Management Market is exponentially growing, with enormous opportunities for the market players. Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies’ preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the APAC fleet management market.
Competitive Strategy: Key players in the APAC fleet management market analyzed and profiled in the study involve fleet management-based product manufacturers and start-ups. Moreover, a detailed competitive benchmarking of the players operating in the APAC fleet management market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Analyst’s Perspective on Fleet Management Market
Due to the growing strategic significance of shifting mobility, there is an increase in demand for fleet management on a global scale. As a result, it is anticipated that the worldwide fleet management market will expand considerably throughout the forecast period. It is crucial for fleet businesses wishing to expand their enterprises to adopt fleet management. Its benefits include enhancing client happiness, boosting productivity, reducing gasoline expenses, and offering real-time visibility.
The e-commerce, insurance, construction, and mining industries’ rising need for commercial vehicles is anticipated to fuel the market for fleet management. Additionally, the industry is expanding faster because of the utilization of artificial intelligence (AI) solutions in fleet management software and hardware.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the Asia-Pacific fleet management market?
- What are the key development strategies deployed by the key players to sustain in the market, and what are some of the initiatives taken by new entrants within this ecosystem?
- What are the views of key industry participants within the fleet management companies operating in the space with respect to the latest trends and developments pertinent to fleet management?
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
- Embitel
- Queclink Wireless Solutions Co., Ltd.
- Fleetx
- Wonder Wagen
Key Topics Covered:
1 Markets
1.1 Market Outlook
1.1.1 Fleet Management Trends
1.1.1.1 Successful Transport Companies Becoming Increasingly Data-Driven
1.1.1.2 Moving Toward Privately Owned Vehicles
1.1.1.3 Uncertain Fuel Costs
1.1.1.4 Keeping Fleets Relevant Requires the Adoption of Electric Vehicles
1.1.2 Supply Chain Analysis
1.1.3 Key Patents Mapping
1.1.4 Regulatory Landscape
1.1.4.1 U.S. Fleet Management Laws
1.1.4.1.1 Vehicle Tracking Laws
1.1.4.1.1.1 ELD Rule
1.1.4.1.1.2 ELD Compliance Deadline
1.1.4.1.2 Impact of Fleet Management Laws on the U.S. Fleet Management Market
1.1.4.2 Germany Fleet Management Laws
1.1.4.2.1 DGUV (German Social Accident Insurance) Regulation
1.1.4.2.2 Impact of Fleet Management Laws on the Germany Fleet Management Market
1.1.4.3 France Fleet Management Laws
1.1.4.3.1 WLTP Effect
1.1.4.3.2 Impact of Fleet Management Laws on the France Fleet Management Market
1.1.4.4 Australia Fleet Management Laws
1.1.4.4.1 Heavy Vehicle National Law
1.1.4.4.2 Impact of Fleet Management Laws on the Australia Fleet Management Market
1.1.5 Business Model
1.1.5.1 Subscription Model
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Growing Number of Vehicle and Asset Thefts
1.2.1.2 Increase in Road Accidents
1.2.1.3 Volatility in Fuel Prices
1.2.1.4 Augmented Demand for Fleet Management Solutions from Transportation and Logistics Industry
1.2.2 Business Challenges
1.2.2.1 Connecting Information Together from a Variety of Sources
1.2.2.2 Risk of Cyber Attacks
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.5 Business Opportunities
1.2.5.1 Surging Demand for Connected and Autonomous Vehicles
1.2.5.2 Emergence of the Internet of Things (IoT)
2 Region
2.1 China
2.1.1 Market
2.1.1.1 Buyers Attributes
2.1.1.2 Competitive Benchmarking
2.1.1.3 Key Fleet Management System Providers in China
2.1.1.4 Business Challenges
2.1.1.5 Business Drivers
2.1.2 Application
2.1.2.1 China Fleet Management Market (by Application Type), Value Data
2.1.2.2 China Fleet Management Market (by Commercial Vehicle Type), Value Data
2.1.3 Product
2.1.3.1 China Fleet Management Market (by Component), Value Data
2.1.3.2 China Fleet Management Market (by Deployment), Value Data
2.2 Asia-Pacific and Japan
2.2.1 Market
2.2.1.1 Buyers Attributes
2.2.1.2 Competitive Benchmarking
2.2.1.3 Key Fleet Management System Providers in Asia-Pacific and Japan
2.2.1.4 Business Challenges
2.2.1.5 Business Drivers
2.2.2 Application
2.2.2.1 Asia-Pacific and Japan Fleet Management Market (by Application Type), Value Data
2.2.2.2 Asia-Pacific and Japan Fleet Management Market (by Commercial Vehicle Type), Value Data
2.2.3 Product
2.2.3.1 Asia-Pacific and Japan Fleet Management Market (by Component), Value Data
2.2.3.2 Asia-Pacific and Japan Fleet Management Market (by Deployment), Value Data
2.2.4 Asia-Pacific and Japan (by Country)
2.2.4.1 Japan
2.2.4.2 India
2.2.4.3 South Korea
2.2.4.4 Rest-of-Asia-Pacific and Japan
3 Markets – Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Company Profiles
3.3.1 Embitel
3.3.1.1 Company Overview
3.3.1.1.1 Role of Embitel in the Fleet Management Market
3.3.1.1.2 Product Portfolio
3.3.1.2 Corporate Strategies
3.3.1.2.1 Partnerships, Collaborations, Investments, Mergers, and Acquisitions
3.3.1.2.2 Production Sites
3.3.1.3 Analyst View
3.3.2 Queclink Wireless Solutions Co., Ltd.
3.4 Start-Up Company Snapshots
3.4.1 Fleetx
3.4.2 Wonder Wagen
4 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/hm1ar1
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