Automotive Fleet Market to Benefit from Recent Advances Made in Vehicle-to-Vehicle Connectivity and Smart Transportation Technology
MarketResearchReports.biz has announced the addition of a report titled “Automotive Fleet Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025”.
Albany, NY -- (SBWire) -- 08/16/2018 --The detailed study on the global https://www.marketresearchreports.biz/reports/1865849/automotive-fleet-global-industry-market-research-reports">automotive fleet market offers a granular assessment of growth dynamics, current and emerging trends, promising opportunities, the prevailing competitive landscape, and profitable products segments. The global market is projected to rise at a promising growth rate during 2017–2025 riding on the back of swift pace of industrialization.
The growing number of high-capacity vehicles used in the transportation industry and burgeoning shipment of goods, especially in numerous developing and developed countries, is a key factor underpinning the expansion of the automotive fleet market. The constant flux of players in the fleet management services sector in several countries world over is a notable factor accentuating the automotive fleet market.
Sizeable investments being made by governments in emerging and developed economies on expanding automotive fleets is catalyzing the growth of the market. The growing number of vehicles leased is also boosting the market.
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The market is making attractive strides riding on the wave of constant advances being made in intelligent transportation system. For instance, recent advancements made in vehicle-to-vehicle connectivity and communication technologies have substantially fueled the expansion of the market. The rising effort by original equipment manufacturers to develop autonomous vehicles has unlocked several lucrative prospects in the automotive fleet market. The introduction of autonomous automotive features in developed countries is a notable factor likely to present new streams of revenue to several companies in the market.
However, the growth of the market is beset by several setbacks such as the need for a large space for maintaining these automotive fleet. The shortage in supply of commercial fleet vehicles is a notable factor crippling the market revenues. The growing number of vehicles being used in the retail sector is another factor that does not augur well for the market.
Nevertheless, the market will witness large growth impetus from the rapidly expanding commercial vehicle segment in various countries across the world. This is in part attributed to the rising leasing of heavy-duty trucks in the transport sector.
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The advent of hybrid vehicles in the market is also expected to catalyze its growth. Some of the key hybrid vehicles are battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in electric vehicles (PEVs). The increased fuel efficiency of these vehicles is also boosting the market.
Of the various regions, North America and Europe are anticipated to emerge to the forefront for the demand for automotive fleets. The extensive demand is attributed to the staggering rise in volumes of goods and services transported in its various countries.
Prominent players operating in the automotive fleet market include BBL Fleet, Enterprise Fleet Management, Midas International Corporation, LD Automotive Pvt. Ltd., and lement Fleet Management Corp.
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