Fleet Management Software Market Size, Share, Report 2027

Fleet Management Software market in global is expected to grow from US$ 15.81 Bn in 2018 to US$ 54.05 Bn by the year 2027. This represents a CAGR of 14.9% from the year 2019 to 2027.

Europe was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. Europe fleet management software market size is expected to gradually increase in the coming years till 2027, owing to the increasing spending in the automotive sector in the region.

Market Insights

Use of wireless technologies for fleet operations expected to boost the market

Currently, the wireless industry is growing immensely and setting new records for network traffic, network infrastructure, and wireless connections deployment. Due to the implementation of the Internet of Things (IoT) worldwide, it enables to enhance various systems used for various industries through wireless technologies. Wireless technologies play an important role in driving the economy of various countries around the globe. Several potential countries around the world are contributing to the country’s economy to remain competitive in the market. For instance, according to CTIA, a trade association for the wireless communications industry based in the U.S., The wireless industry contributed US$ 475 Bn to the U.S. economy annually in 2016.

Various companies use fleet management software in order to control the fleet vehicles. Integration of wireless technologies with fleet management software increases the efficiency of the fleets and helps reduce the burden of fleet operators. Wireless technology such as global positioning system and vehicle tracking systems helps to gain exceptional insight into the performance of the fleet. These wireless technologies also improve the behavior of the driver by monitoring the speed of the vehicle, harsh braking, and much more. Furthermore, according to a study, around 13 million devices enabled with wireless connectivity are deployed to manage fleet vehicles, and this figure might grow during the forecast period. Thus, due to increased emphasis on wireless technologies in vehicle operations help the vendors to increase their productivity, efficiency, would boost the global fleet management software market in the forecast period. 

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Fleet Management Software Market: Strategic Insights

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Global Fleet Management Software Market- Solution Insights

The global Fleet Management Software market by solution was led by operation management segment. Vehicle maintenance & leasing segment held the second largest market in 2018 and is anticipated to increase its shares during the forecast period from 2019 – 2027.

Global Fleet Management Software Market - End-User Insights

The global fleet management software market by end-user was led by transportation and logistics segment. Manufacturing segment held the second largest market in 2018 and is anticipated to increase its shares during the forecast period from 2019 – 2027.

The market players present in fleet management software market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company to maintain its brand name globally. Few of the recent developments are listed below:

2019:In April 2019, Geotab, Inc. declared an agreement to acquire BSM Technologies, a telematics and asset management solution provider. By implementing Geotab’s solution BSM’s customers in government as well as industry verticals such as construction and service and rail will gain access for enhanced visibility into driver habits, vehicle performance, accident detection and more.
2019:In March 2019, Omnitracs, LLC acquired Blue Dot Solutions, a software company. Omnitracs, LLC would integrate Blue Dot’s MilesAhead product suite, which would offer the industry a solution with a supreme ability to enhance the productivity, flexibility, scalability, and safety of overall fleet operations.
2018:In June 2018, Geotab Inc. acquired FleetCarma, which specializes in electric vehicle (EV) telematics. The acquisition with FleetCarma would enable its customer to provide a complete fleet management solution.

Fleet Management Software Market Regional Insights

The regional trends and factors influencing the Fleet Management Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fleet Management Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Fleet Management Software Market Report Scope

Fleet Management Software Market Players Density: Understanding Its Impact on Business Dynamics

The Fleet Management Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Fleet Management Software Market are:

1. ARI Fleet Management Company
2. Element Fleet Management Corp.
3. Geotab Inc.
4. GPS Insight
5. NexTraq, LLC

Disclaimer: The companies listed above are not ranked in any particular order.

 

GLOBAL FLEET MANAGEMENT SOFTWARE MARKET – MARKET SEGMENTATION

Global Fleet Management Software Market by Solution

• Operation Management
• Asset Management
• Driver Management
• Vehicle Maintenance & Leasing
• Driver Information System
• Others

Global Fleet Management Software Market by End-User

• Manufacturing
• Government
• Transportation and Logistics
• Energy and Utilities
• Retail
• Construction
• Others

Global Fleet Management Software Market by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Global Fleet Management Software Market - Companies Mentioned

• ARI Fleet Management Company
• Element Fleet Management Corp.
• Geotab Inc.
• GPS Insight
•  NexTraq, LLC
• Omnitracs, LLC  
• Teletrac Navman US Ltd
• Trimble, Inc.
• Verizon Connect 
• Wheels, Inc.