A new market research study, titled “Fleet Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” by Transparency Market Research provides a detailed analysis of the market. The research study covers the major growth drivers, barriers, major product segments, and competitive landscape of the market. The study further includes insightful recommendations given by industry experts to guide the existing as well as new players in formulating effective business policies. The study further presents the estimated figures for the global fleet management market with the assistance of charts, tables, infographics, and graphs.
Fleet management offers a range of telematics solutions that have been designed to empower commercial fleet-based organizations to become more sustainable and enhance their profitability. The global market for fleet management is growing significantly making a move forward from the supremacy of standalone systems to the subscription-based fleet management systems, which were initially adopted primarily by small and medium-sized companies. Several recognized global commercial fleet vehicle manufacturers are providing core telematics features in vehicles.
The growing need for operational efficiencies, decreasing connectivity and hardware cost, and several environmental concerns are some of the major factors expected to fuel the growth of the global fleet management market throughout the forecast period. In addition, the introduction of future high-tech vehicles and the rise of regional economies are anticipated to create potential opportunities for the market players. However, the safety and security of drivers and cost sensitivity of fleet owners are the major challenges that may hamper the growth of the market in the coming years.
By geography, the global market for fleet management has been bifurcated into the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. Currently, North America and Europe are leading the global fleet management market, owing to the increased adoption of several fleet management systems. In addition, the extensive wireless communication networks, growing awareness among the commercial operators, and strict traffic regulations, which have mandated the use of fleet management systems are some of the major factors fueling the growth of these regions throughout the forecast period.
Furthermore, the research report provides a detailed vendor analysis of the global fleet management market, focusing on the company profiles, business strategies, product portfolio, financial overview, SWOT analysis, and new developments, if any. The prominent players operating in the global fleet management market include AT&T, Inc., Fleetmatics Group Plc., Verizon Communications, I.D. Systems Inc., ARI, Cisco Systems, Inc., Tomtom NV, GE Capital, Trimble Navigation Limited, and IBM Corporation.