Dublin, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The "Europe Fleet Management Market - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The Europe fleet management market (excluding U.K.) is projected to reach $4.71 billion by 2031 from $0.968 billion in 2022, growing at a CAGR of 19.22% during the forecast period 2022-2031. Commercial vehicle fleet management tools are experiencing technical breakthroughs and are expected to increase at an accelerated rate throughout the forecast timeframe. It is anticipated that the introduction of connected vehicles will improve important market development initiatives.
The Europe fleet management market is witnessing significant growth. The fleet management market is expanding as a result of growing knowledge of the benefits provided by these systems to the commercial vehicle industry. Furthermore, fleet management is growing in the European market as a result of the industrial revolution's embrace of new technology.
Technological developments in commercial vehicle management tools are driving a considerable evolution of the European fleet management market. These tools are expected to rise rapidly throughout the forecast period, and the widespread use of connected automobiles is expected to significantly stimulate important market development activities. The Europe fleet management market is now seeing growth as a result of fleet companies' growing understanding of the numerous advantages provided by cutting-edge management systems. One of the main drivers of the market's expansion is this increased awareness, which is also being aided by the ongoing industrial revolution and the widespread adoption of cutting-edge technology in Europe's commercial vehicle industry.
The Europe Fleet Management Market: Drivers and Challenges
Digitization of commercial vehicles from the transportation and logistics companies for operating the fleet efficiently is expected to boost the Europe fleet management market. Data is generated on different levels, and they need to organize it to decide for fleet operators. A fleet management system assists in detecting the data and displaying it on the software.
One of the major issues impeding the expansion of the fleet management business in Europe is the high cost of on-premises software. Major manufacturers provide on-premises fleet management software options that are more customized and protected by a firewall than cloud-based fleet management software solutions. Henceforth, the high cost of on-premises software may hinder the growth of fleet management in Europe.
Report Scope
- Segmentation by component, deployment, application type, and vehicle type provided in the report
- Analysis of business drivers and challenges of the Europe Fleet Management Market
- Detailed analysis of Fleet Management Market for Italy, Germany, France and Spain
- A detailed company profile comprising established players
Key Market Players and Competition Synopsis
Some of the prominent names established in this market are:
- TomTom International
- Gurtam
- Astrata Europe
- TELTONIKA
- Navtelecom
Market Dynamics
Business Drivers
- Growing Number of Vehicle and Asset Thefts
- Increase in Road Accidents
- Volatility in Fuel Prices
- Augmented Demand for Fleet Management Solutions from Transportation and Logistics Industry
Business Challenges
- Connecting Information Together from a Variety of Sources
- Risk of Cyber Attacks
Business Opportunities
- Surging Demand for Connected and Autonomous Vehicles
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value (USD) in 2022 | $0.96 Billion |
| Forecasted Market Value (USD) by 2031 | $4.71 Billion |
| Compound Annual Growth Rate | 19.2% |
| Regions Covered | Europe |
Key Topics Covered:
1. Markets
1.1 Global Market Outlook
1.1.1 Fleet Management Trends
1.1.1.1 Successful Transport Companies Becoming Increasingly Data-Driven
1.1.1.2 Moving Toward Privately Owned Vehicles
1.1.1.3 Uncertain Fuel Costs
1.1.1.4 Keeping Fleets Relevant Requires the Adoption of Electric Vehicles
1.1.2 Supply Chain Analysis
1.1.3 Key Patents Mapping
1.1.4 Regulatory Landscape
1.1.4.1 U.S. Fleet Management Laws
1.1.4.1.1 Vehicle Tracking Laws
1.1.4.1.2 Impact of Fleet Management Laws on the U.S. Fleet Management Market
1.1.4.2 Germany Fleet Management Laws
1.1.4.2.1 DGUV (German Social Accident Insurance) Regulation
1.1.4.2.2 Impact of Fleet Management Laws on the Germany Fleet Management Market
1.1.4.3 France Fleet Management Laws
1.1.4.3.1 WLTP Effect
1.1.4.3.2 Impact of Fleet Management Laws on the France Fleet Management Market
1.1.4.4 Australia Fleet Management Laws
1.1.4.4.1 Heavy Vehicle National Law
1.1.4.4.2 Impact of Fleet Management Laws on the Australia Fleet Management Market
1.1.5 Business Model
1.2 Business Dynamics
1.2.3 Business Strategies
1.2.4 Corporate Strategies
1.2.5 Business Opportunities
1.2.5.1 Surging Demand for Connected and Autonomous Vehicles
1.2.5.2 Emergence of the Internet of Things (IoT)
2. Region
3. Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/hx7771
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