New York, NY -- (SBWIRE) -- 01/22/2021 -- Fleet Management Market 

Fleet management is a process by which fleet managers maintain and manage all fleet-related tasks, including acquiring & leasing fleets, uptime & downtime management, vehicle management, routing & scheduling, aftermarket service, safety & compliance management, and tracking & geofencing, among others. The solution enables companies to reduce hidden & extra costs and improve vehicle efficiency, while ensuring compliance with government regulations related to operations of any kind of fleet such as maritime, aircraft, railways, on-road and off-road vehicle network, and others. According to a recent analysis by Reports and Data, the global fleet management market size is expected to reach USD 351.42 Billion from USD 111.73 Billion in 2019, at a CAGR of 15.3% through 2026.

The market growth is driven by surging demand for fleet management in the road transportation systems as well as high R&D investments in of fleet management software and solutions. Rapid proliferation of private and commercial vehicles across developed as well as developing economies is further fuelling the need for fleet management solutions.

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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Fleet Management market and profiled in the report are:

Donlen Corporation, Omnitracs, Teletrac Navman, Automotive Rentals Inc., Japan Railways Group, American Airlines, FedEx, GPS Insight, Omnitracs, and Verizon Connect.

The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2026 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.

The report further segments the market on the basis of product types and application spectrum offered by the market.

Type Outlook (Revenue: USD Billion; 2016-2026)

Solution
Service

Verticals Outlook (Revenue: USD Billion; 2016-2026)

Operation Management
Business Management
Maintenance & Repair
Regulatory & Compliance
Software Solutions
Tracking & Analytics
Others

Fleet Type Outlook (Revenue: USD Billion; 2016-2026)

Aviation
Road Transportation
Railway System
Marine

End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)

Mobility Solutions
Service & Maintenance
Education & Research
Logistics Solutions
Government Bodies
Others

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Regional Landscape

The Asia Pacific region is forecast to register the fastest growth rate of nearly 19.3% over the analysis period. The robust growth can be attributed to the comprehensive implementation of fleet management by transporters in countries across the region and increase in the affordability of private vehicles. In 2019, North America held a major chunk of the fleet management market share of around 37.4% on account of exceptional commercialization of smart fleet management solutions in the region.

TOC -
Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Fleet Management Market Segmentation & Impact Analysis

Continued……….

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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Fleet Management market and its competitive landscape.

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