Global Fleet Management Software Market to Generate $55.77 Billion by 2028 | Small Business are Increasingly Opting for Fleet Management Software

Global fleet management software market was valued at USD 18.23 billion in 2021, and it is expected to reach a value of USD 55.77 billion by 2028, at a CAGR of more than 17.32% over the forecast period (2022–2028).

Westford USA, Aug. 24, 2022 (GLOBE NEWSWIRE) -- As the world becomes increasingly complex and chaotic, businesses require fleet management software to keep track of their assets, communication between drivers and vehicles, and compliance to government regulations. Fleet management software market has been gaining ground as software has become important not only for large businesses, but for small ones as well.

Fleet management software is in high demand as businesses continue to grow and expand their operations. The software helps fleets manage their resources more efficiently and keep track of vehicle usage. Fleet management software allows companies to optimize their fleet with the help of GPS mapping, real-time tracking, driver manuals, and more.

Users in the global fleet management software market can track vehicles and see where they are at any given time, as well as see how much fuel they are using and how often they are breaking down. By being able to monitor these details, fleets can save money on fuel costs and prevent injury or lost equipment due to driver error. Additionally, fleet managers can easily find out which drivers are abusing their privileges by driving too much or not following regulatory guidelines. By preventing these issues before they become big problems, fleets can stay running smoothly and maximize efficiency. There are multiple types of fleet management software available: web-based applications which can be managed from anywhere with internet access; software that runs on dedicated hardware devices connected to the network; or mobile applications for use on smartphones and other handheld devices. Many fleet owners use both web-based applications and dedicated hardware devices. There are also hybrid models which combine elements of both approaches.

For detailed insights about global fleet management software market that primarily covers challenges, threats, government regulations, potential consumers base, factors compelling end-users to opt for fleet management software,

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Top 3 Trends in Fleet Management Software Market

1. Increased Use of Software as a Service Models

One trend that is increasing in popularity is the use of software as a service model. This means that fleet managers are able to access the software from anywhere, at any time, and without having to install it on their own servers. This makes managing fleets much easier and more efficient, as fleet managers no longer have to worry about installation or upgrades.

2. Increased Integration with Other Functions of Organization

Another trend seen in fleet management software market is increased integration with other functions of an organization. For example, some programs allow for fleets to be tracked and monitored for compliance with safety standards, fuel usage, and other regulations. This makes it easy for organizations to stay organized and compliant with all their regulatory obligations.

3. Growing importance of Machine Learning in Fleet Management Software

As machines become more sophisticated, fleets must increasingly rely on software that can intelligently manage them. This trend has led to heightened interest in machine learning in fleet management software market, as this technology can help manage large numbers of vehicles effectively.

SkyQuest has identified key trends in the global fleet management software market and prepared a report. The report would help you in understanding key market dynamics, global market trends, leading players in the global market, their growth strategies, market share, and competitive landscape, among others.

SkyQuest Says Adoption of Fleet Management Software Increased by 67% Over the Past Five Year and Small Fleet Business Emerged as the Major Adaptors

Fleet management software is a crucial tool that businesses can use to keep their vehicles and equipment running smoothly. By implementing a fleet management system, businesses can effectively manage their vehicles, tracks inventory levels, and analyzes data to make informed decisions.

Fleet management software market has become increasingly important over the past five years, as the adoption rate has increased by 67%. This indicates that there is a strong interest in using fleet management software to improve efficiency and productivity.

Fleet management software market has become essential for businesses of all sizes. around 43% percent of manufacturing and transport businesses with 500 or more employees use fleet management software. While the major adopters vary by company size, most large companies are using fleet management software.

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Smaller businesses are also increasingly turning to fleet management software in order to manage their fleets more effectively. In fact, 41% percent of businesses with 200–499 employees use fleet management software, and this number jumps to 61% for businesses with 50- 199 employees. This is due the increasing popularity of digital fleets and the growing need for organizations to manage their operations more efficiently.

SkyQuest has published a report on global fleet management. The report would help in gaining deeper insights about consumer behavior, their buying pattern, adoption of software by business size, revenue generation by them, mapping potential of current growth opportunity, identifying and targeting business strategies around the new revenue pockets, identifying growth opportunity, among others.

Rapid Expansion of Fleet Management Software into New Markets Including Municipal Government, Health Care, and Manufacturing

Fleet management software helps businesses manage and monitor their fleets of vehicles, goods, and personnel. As fleet the software becomes more widespread, it is also expanding into new markets, including municipal government, health care, and manufacturing.

As per SkyQuest analysis, one major area where fleet management software market has seen explosive growth in recent years is in the municipal government sector. Many municipalities are looking for ways to reduce costs and improve efficiency. Fleet management software can help municipalities automate many of their processes, such as vehicle registration and maintenance. Additionally, the software can help municipalities track driver hours and compliance with traffic regulations. This is proving to be extremely effective as the governments around the globe are found to be saving cost up to 35% by managing their employees in better way, improving their productivity, and reducing downtime of vehicles in fleet.

Many hospitals in the global fleet management software market find that managing their fleets of vehicles and equipment is a key part of keeping patients safe and compliant with health care regulations. Fleet management software can help hospitals inventory and track vehicles, equipment, and supplies. In addition, the software can automate processes such as scheduling, tracking ambulance, and supply delivery vehicles, among others. This software can help hospitals track the location, condition, and use history of all of their medical equipment. Additionally, this software can help health care systems manage their budgets more efficiently by tracking expenses related to vehicle use.

Finally, fleet management software market is also being adopted by manufacturing companies. Factory managers find that tracking inventory and employee hours is essential for efficient production. Fleet management software can help factories automate many of these processes. For example, the software can track supplier orders and generate invoices automatically. This, in turn, has helped manufacturers in streamlining their supply chain and save cascading kiosk.

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Major Players in the Fleet Management Software Market

  • LeasePlan Corporation N.V. (Netherlands)
  • Omnitracs, LLC (US)
  • Cisco Systems, Inc. (US)
  • Verizon Connect (US)
  • Geotab, Inc. (Canada)
  • FleetCor Technologies, Inc. (US)
  • IBM Corporation (US)
  • MiXTelematics International Ltd (US)
  • Fleet Complete (Canada)
  • Trimble Inc. (US)
  • ATandT, Inc. (US)

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