Boston, MA -- (SBWIRE) -- 08/25/2015 -- A fleet management system is formed by the integration of hardware, software, and communication technologies. It provides a platform to fleet operators to efficiently control, track, and monitor commercial vehicles. They improve the overall operational efficiency by reducing the non-value-added activities of the operators. Fuel cards are used for fuel management while driver safety systems monitor driver behavior. Other solutions are employed for locational tracking of vehicles, driver navigation assistance, and ensuring that the operators meet the regulatory standards set by their respective national governments. The major end-users of fleet management systems are specialist logistics companies, such as those in the taxi fleet operator and truck fleet operator sectors.

Get More Details on this Report and a Full Table of Contents at Fleet Management Market in Europe 2015-2019

Technavio's analysts forecast the fleet management market in Europe to grow at a CAGR of 27.93% over the period 2015-2019.

Commenting on the report, an analyst from Technavio's team said: "One of the trends in the market is that autonomous vehicles are self-driven. These can operate without human supervision or interference. They sense their environment and navigate autonomously using technologies such as radar, lidar, GPS, and advanced control systems. While the concept of autonomous vehicles has yet to gain wide acceptance, it will likely become more popular during the forecast period.."

According to the report, one key driver in the market is fleet operators receive large amounts of data. These data related to their daily operations through various channels, such as documents from employees and technicians, fuel bills, routes traversed by vehicles, and work order performance reports. Operators must collect the data methodically to effectively manage their fleets. Any errors can complicate the management of fleet vehicles and be difficult to rectify. Fleet management systems enable the efficient management of data and reduce the probability of manual errors by automating the fleet management process. Fleet operators are gradually adopting these systems to effectively handle their data and make key operational decisions faster.

Further, the report states that the challenge is increases in vehicles and fuel costs, as well as competition from other fleet operators. This affects the profit margins of fleet operators significantly. These factors are prompting companies to adopt defensive strategies such as cutting costs and reducing expenditure on new products and services. Companies are hesitant to invest in expensive fleet management systems, as this may increase their overall costs in addition to vehicle maintenance costs. The monthly rent for advanced systems can range from $30 to $65 per vehicle.

The key players in the Fleet Management Market in Europe are Caterpillar, Daimler Group, Daimler, DigiCore, DigiCore, Squarell Technology and Squarell Technology while other prominent vendors include Astrata, Cefin Systems, CVS Mobile, Datatronics Mobility, Eliot, Fleet Falcon, Fleetlogic, FleetMatics, Frotcom International, Groeneveld and Idem Telematics.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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