Fleet Management Market in-depth Industry Analysis with current trends and Future Estimations

The fleet management market is anticipated to witness tremendous growth in the coming years due to the rising need to reduce asset downtimes, growing infrastructure construction, expanding logistics industry, and favorable government regulations. Fleet management is an administrative approach that enables enterprises to organize and coordinate work vehicles. With an objective to reduce costs, provide compliance with government rules, and enhance efficiency, fleet management is generally used for tracking of vehicles. Apart from this, it also includes recording and following driver behavior and conducting mechanical diagnostics.

The best practices of fleet management include usage of software solutions and technology to aid in reducing costs and risk, scheduling of preventive maintenance for reducing downtime, ensuring higher productivity, and enforcing driver safety.

Additionally, fleet management companies commonly use vehicle fleet management software or telematic to help in decreasing operational costs and to increase fleet efficiency. It is mostly used by repair & service industry, for oil & gas delivery, couriers, utilities businesses to enable real-time tracking, confirming safety, and ensuring responsible use of vehicle. Apart from others, fleet management technology is also used by boating technology.

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The fleet management market is divided into different segments in terms of deployment model, solution, end-use, and regional landscape.

In terms of end-use, the overall fleet management market is bifurcated into utility, manufacturing, construction, and transportation. Among these, manufacturing end-use segment will witness a CAGR of more than 22% over the forecast time period. This growth is ascribed to the need to automate fleet operations and reduce asset downtimes.

From a regional frame of reference, Latin America fleet management market will witness a CAGR of more than 20% through the forthcoming timeframe as the fleet industry in the region becomes more focused towards asset safety and in reducing thefts.

Middle East & Africa fleet management market is likely to witness substantial growth over the coming year. In 2019, the region accounted for a market share of nearly 5%, driven by growing infrastructure construction and logistics industry along with increasing sales of trucks, buses, and vans.

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Several regional companies are increasingly adopting advanced technologies such as IoT, asset tracking, RFID among others, in order to enhance the performance of their fleets. Citing an instance, NFT, a renowned tower crane specialist based in Abu Dhabi, reportedly announced a new deal with its UAE local representative and a UK-based company in order to track its large fleet of tower cranes by utilizing RFID solutions. The main aim is to reduce human error and wastage, ensuring real time decision making, strategic planning and improving inventory managing.

Table Of Content

Chapter 1.   Methodology & Scope

1.1.  Scope & definitions

1.2.  Methodology and forecast parameters

1.3.  Data Sources

1.3.1. Secondary

1.3.2. Primary

Chapter 2.   Executive Summary

2.1.  Fleet management industry 360º synopsis, 2015 – 2026

2.2.  Business trends

2.3.  Regional trends

2.4.  Deployment model trends

2.5.  Solution trends

2.6.  End use trends

Chapter 3.   Fleet Management Industry Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Impact of COVID-19 outbreak

3.3.1. Global outlook

3.3.2. Regional outlook    North America    Europe    Asia Pacific    Latin America    Middle East & Africa

3.3.3. Industry value chain    Fleet management providers    Marketing & distribution channel

3.3.4. Competitive landscape    Strategy    Distribution network    Business growth

3.4.  Fleet management industry ecosystem analysis

3.5.  Technology & innovation landscape

3.5.1. GPS and On-Board Diagnostics (OBD)

3.5.2. Commercialization of 5G networks

3.6.  Regulatory landscape

3.6.1. China VI Emission Standards

3.6.2. CSA 2010 (Compliance and Enforcement Program), U.S.

3.6.3. Electronic Logging Devices (ELD) Rule 2017 (U.S.)

3.6.4. Federal Motor Carrier Safety Administration (FMCSA)

3.6.5. OBD-II Standards

3.6.6. The California Air Resources Board (CARB) guidelines

3.6.7. The European OBD Standards

3.6.8. The Society of Indian Automobile Manufacturers (SIAM)

3.6.9. The U.S. Environmental Protection Agency (EPA) Heavy Duty Engine Standards

3.7.  Industry impact forces

3.7.1. Growth drivers    Growing emphasis by fleet operators on operational efficiency    Extensive penetration of cloud computing and big data analytics solutions    Emergence of AI technology in fleet management systems    Growing adoption of IoT and proliferation of commercial vehicles

3.7.2. Industry pitfalls & challenges    Increasing cyberthreats and data breach incidents    Lack of awareness among smaller fleet owners

3.8.  Growth potential analysis

3.9.  Porter’s analysis

3.10.    PESTEL analysis