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Fleet management facilitates cost-efficiency, performance enhancement, and fuel-efficiency. It is likely to attract more organizations towards the deployment of fleet management services. Furthermore, the flexibility of hybrid, on-premise and cloud deployment is expected to favor the expansion of the Fleet Management Industry over the next couple of years.
Market Segmentation
By deployment type, the global Fleet Management Industry has been segmented into cloud, on-premises, and hybrid.
By Connectivity Type, the global Fleet Management Industry has been segmented into satellite navigation and cellular system.
By services managed services, the Industry has been segmented into integration and deployment services, and professional services.
Regional Analysis
The global Fleet Management Industry, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America and Europe are two important revenue pockets expected to dominate the growth trajectory of the global market. The deployment of technological innovations is poised to catapult the regional Fleet Management Industry on an upward trajectory. Furthermore, stringent emission norms are anticipated to favor the expansion of the market in the foreseeable future.
Asia Pacific has been estimated to emerge as the fastest growing region in the global Fleet Management Industry. The developmental opportunities of China and India are prognosticated to expedite the growth of the market in the upcoming years. In addition, the region has been witnessing widespread adoption of web and mobile based business services which is primarily responsible for driving the expansion of the COVID-19 Impact.
Key Players
Some of the key players operating in the global Fleet Management Industry are I.D. Systems, Inc. (U.S), Fleetmatics Group PLC (U.S.), Trimble Inc. (U.S), WorkWave LLC(U.S.), Verizon Telematics Inc. (U.S.), Zonar Systems, Inc. (U.S.), and Cisco Systems, Inc. (U.S.).
Industry News:
In January 2019, Genie, an American company owned by Terex, has launched its fleet management platform ‘Lift Connect.’
In January 2019, TomTom, known for its portable GPS navigation devices, has sold its fleet management division to Bridgestone.
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