Portland, OR, Nov. 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global fleet and transportation management system for transportation and logistics market was accounted for at $24.9 billion in 2021, and is expected to reach $64.9 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | $24.9 billion |
| Market Size in 2031 | $64.9 billion |
| CAGR | 10.3% |
| No. of Pages in Report | 349 |
| Segments Covered | Application, Component, and Region |
| Drivers | Rapid technological advancements across transportation & logistics sector |
| Growth of the e-commerce industry | |
| Opportunities | Strengthening communication network |
| Restraints | Lack of uninterrupted & seamless internet connectivity |
| High upfront cost |
Covid-19 scenario:
- The lockdown measures taken to curb the spread of the virus took a major toll on the global economy. The prolonged lockdown in most the European and Asian countries disrupted the supply chain.
- However, in the post-pandemic, demand for fleet and transportation management solutions that enhance efficacy and efficiency of first-mile and last-mile, logistics, improve mobile resource, utilization, and enhance fleet’s ability in improving revenue growth will rise.
The report segments the global fleet and transportation management system for transportation and logistics market on the basis of application, component, and region.
Based on application, the scheduling routing and tracking segment held the largest share in 2021, accounting for nearly one-third of the market. However, the telematics segment is expected to manifest the highest CAGR of 11.6% from 2022 to 2031.
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On the basis of component, the solution segment dominated the market in terms of revenue in 2021, contributing to around two-thirds of the market. However, the services segment is expected to register the highest CAGR of 12.3% during the forecast period.
The global fleet and transportation management system for transportation and logistics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2021, accounting for around two-fifths of the market. However, the market across Latin America region is expected to register the highest CAGR of 12.8% during the forecast period.
The global fleet and transportation management system for transportation and logistics market report includes an in-depth analysis of the prime market players such as Azuga Inc., E2open Parent Holdings Inc., Element Fleet Management Corp, Geotab Inc., Holman Inc., MercuryGate International Inc., Solera Holdings LLC, Trimble Inc., Verizon Communications Inc., Wheels LLC, SAP SE, and Samsera Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
