Fleet Management Market Worth $30.45 Billion by 2018
DALLAS, December 12, 2013
DALLAS, December 12, 2013 /PRNewswire/ --
MarketsandMarkets recently conducted a study on the "Fleet Management Market
(Fleet Analytics; Vehicle Tracking & Fleet Monitoring; Telematics; Vendor
Services) By Vehicles (Trucks; Light Goods; Buses; Corporate Fleets; Container
Ships; Aircrafts) Worldwide Market Forecasts and Analysis (2013 - 2018)",
which analyzed and studied the major market drivers, restraints, and
opportunities in North America, Asia-Pacific, Europe, Latin America, and
Middle East and Africa. The study observes that the Fleet Management Market is
expected to grow from $10.91 billion in 2013 to $30.45 billion by 2018, at a
Compound Annual Growth Rate (CAGR) of 22.8% from 2013 to 2018.
Browse 102 market data tables and 42 figures spread through 211 pages and
in-depth TOC on "Fleet Management Market".
Early buyers will receive 10% customization on this report.
Fleet Management is about smartening the fleet vehicles operations.
Intelligent fleet management solutions based on technologies such as Global
Positioning system (GPS)-based telematics are helping fleet operators to
enhance operational efficiencies in terms of improving vehicle performance and
mileage, enhancing operational reliability and safety, maintenance planning,
driver control, and optimizing navigation and routes. The growing
competitiveness among the transportation service providers, CO2 emission
control norms, and rising fuel prices are making the Fleet Management System
(FMS) an essential component for the business operation of the fleet vehicle
The number of vehicles is increasing globally with a major boom in the
emerging economies; this has a positive impact on the fleet management
industry. Asia-Pacific is expected to exhibit the highest growth rate in the
Fleet Management Market revenue out of the various regional markets. There are
also government endeavors to mandate the incorporation of GPS tracking
features in all the new vehicles to be sold and operated in their specific
regions, which clearly shows the opportunities for fleet management business
growth. Organizations from public transport, service sectors, logistics, and
retail industries are expected to bring huge business opportunities for the
fleet management vendors.
The key strategies followed by many of the leading companies in the Fleet
Management Market are new technology, customized solution, and acquiring
relatively small domain expert players. Some of the major players in this
market are Accenture, Motorola Solutions, TomTom, Qualcomm, Masternaut,
Trimble Navigation Ltd., Garmin International, Fleetmatics, Pointer Telocation
Ltd, Verizon Networkfleet, among others.
This MarketsandMarkets report provides key insights into the market dynamics,
industry trends, and adoption trends in the Fleet Management Market. It
explores business potential of fleet management solutions across varied
industry verticals such as academia, government and waste management, public
transport, utilities, retail, logistics, construction, mining, oil, gas and
chemicals, service sectors, and others. The report talks about revenues
expected from the fleet management solutions and services offered to different
types of vehicles.
The report analyzes market sizes and revenue forecasts across different
regions. The report also draws the competitive landscape of the Fleet
Management Market , providing an in-depth comparative analysis of the
technological and marketing strategies that the key players are adopting in
order to gain an edge over their competitors.
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