Press release
Fleet Management Software Market 2023 By Manufacturers, Regions, Type And Application, Forecast To 2029
The global Fleet Management Software Market was estimated at USD 15.86 Million in 2021 and is projected to reach USD 32.49 Million by 2028, growing at a CAGR of 12.7% over the analysis period.
Fleet management software (FMS) can be explained as a standalone app or a cloud product that aids businesses in maintaining optimal use of their work vehicles from a central platform. Besides the software, fleet management involves the use of a telematics unit with a human interface device.
FMS helps in tracking wide data of vehicles such as speed, temperature, engine block, fuel level, door opening, geographical location, route direction, and so many others. This data is received from a vehicle's sensors and then is displayed to the manager who can track all their vehicles in real-time. Presently, Fleet Management Teams are responsible for a wide range of activities such as driver management, compliance management, operational efficiency, and environmental impact, in addition to acquiring and maintaining vehicles. It also helps in maintaining compliance with major regulations for commercial drivers. In the US, for instance, these would be Hours of Service (HOS), the International Fuel Tax Agreement (IFTA), and the Compliance, Safety, Accountability (CSA) initiative which along with the growing industrial usage of vehicles is leading to the development of the market.
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Market Dynamics:
Driver:
Several Advantages offered by Fleet management Software including real-time visibility into the fleet location and performance, cost analysis, and improved driver behavior, amongst others are primarily leading to greater demand for FMS. Further, the greater implementation of FMS to maintain an accurate and up-to-date overview of vehicle diagnostics, and geolocation, and to identify risky driver behaviors and reduce manager workload at the same time is boosting the market growth.
Opportunities:
Technological advancements like 5G expansion and Increasing Adoption of Mobility-as-a-Service solutions are expected to further impact the fleet management software market, as these technologies will help in increasing the speed at which information travels, thereby providing fleets with the opportunity to reduce latency and increase productivity, several organizations that are leveraging a mobile fleet management app are already benefitting from the technologies like 5G.
The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis
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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.
Market Segmentation
By Deployment Type
• Cloud
• On-Premises
By Fleet Type
• Commercial
• Passenger Cars
By End Users
• Manufacturing
• IT & Telecom
• Retail
• Logistics
• Others
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Regional Analysis of Fleet Management Software Market
The North American region is anticipated to lead the growth of the fleet management software market over the forecasted timeframe. The rise in the number of fleets, and the growing demand for effective fleet management solutions have compelled several fleet managers to adopt fleet management software. Service providers in this region are expanding their reach by raising funds. For instance, Vehicle Tracking Solutions (VTS) announced a $70 million investment from LLR Partners to help accelerate growth for IntelliShift, a division of VTS. This partnership will help power product innovation, drive customer value by optimizing connected fleet and safety processes and capitalize on a tremendous market opportunity with new AI video offerings.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Key Players of Fleet Management Software Market
• MiX Telematics
• Fleetilla LLC
• GPS Insight
• Lytx Inc
• FleetMatics
• Fleetmatics Group PLC
• LiveViewGPS
• ManagerPlus
• Azuga Inc
• Melton Technologies Inc
• Geotab
• Prova Systems LLC
• Rarestep, Inc.
• Other Major Players.
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Key Industry Development In The Fleet Management Software Market
In May 2022, MiX Telematics announced the addition of two significant customers in South America to its subscriber base. The first firm focuses on industrial gas distribution and delivery. The second organization manages roughly 2,000 miles of road across Brazil, making it one of the country's major road infrastructure management companies.
In December 2021, FieldAware, the pioneer in mobile, cloud-based field service solutions, has been acquired by GPS Insight. The purchase expands GPS Insight's field services and fleet tracking capabilities, allowing them to better serve clients of all sizes through a more robust and comprehensive digital platform with operational insights and cost savings capabilities.
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Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures and Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures and Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?
Additionally, we are offering company profiles for all of the major key companies. Please take the time to visit our company profiles. If you want to do any customized profiling for the companies do let us know.
https://introspectivemarketresearch.com/company-profiles/hamamatsu-photonics-k.k-company-overview/
https://introspectivemarketresearch.com/company-profiles/schneider-electric-company-overview/
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https://introspectivemarketresearch.com/reports/automotive-fleet-leasing-market/
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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