Fleet management (FM) is broadly used to define solutions for different vehicle related applications. Fleet management solution is a vehicle-based system which is similar to GPS but the difference is it also used for logging in data to the systems, GPS and data communication to a back office application.
Due to increase in mobile network connectivity, network range and advancement of 4G and 5G technologies in many regions at a reasonable cost which helps to delivers high performance, as well as excellent usability for fleet management systems.
Fleet Management software helps the organisation in database management, scheduling and tracking the trip and also customer feedback. Fleet management software solutions also offer organisations to function with higher efficiency & performances at reduced costs and a much streamlined processes.
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Market drivers:
The major driver for global fleet management market is increase in demand for logistics and transport. Fleet management solutions offer several benefits such as improvement in maintenance planning, vehicle performance and schedule of fleet routing which enhances the fleet safety and also customer satisfaction.
Recent innovations like connected vehicles and smart transportations solution by various organisations drive the market for fleet management solutions.
The other major factor driving fleet management market is many organisations need to streamline the operations for greater connectivity and reduce the hardware cost needed to perform the necessary fleet management. These major drawback for fleet management market is due to lack of awareness among fleet owners.
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Global Fleet Management Market: Segmentation
Global Fleet Management market is segmented based on the type of solution, type of Deployment, based on service, by region.
On the basis of the type of solution Global Fleet Management market is segmented to Operation management, Asset management, Driver management
On the basis of the type of deployment Global Fleet Management market is segmented to Cloud, On-premise, Hybrid.
On the basis of services offered the Global Fleet Management market is segmented to Professional services, Integration and deployment service, Managed services.
On basis of region global Fleet Management Market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and The Middle East and Africa (MEA).
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Market Overview:
Majority of the Fleet Management market is dominated by North America due to adoption of large number of organisations. Followed by Europe and Asia pacific which also share a significant market due of growth of online retail.
Key Market Players:
Some of the key players in Global Fleet Management Market include, Innovative Maintenance Systems., Telogis, AT&T Inc., CarTrack Technologies Co. Ltd., Zonar Systems , Fleetmatics Group, ID Systems Inc., Workwave LLC, Verizon Communications, Eresource Infotech Pvt. Ltd., Magellan and Trimble Navigation Ltd.