Dublin, April 23, 2019 (GLOBE NEWSWIRE) -- The "Fleet Management Market by Solution, Service, Deployment Type, Fleet Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global fleet management market size is expected to grow from USD 15.9 billion in 2018 to USD 31.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.

The increasing number of cloud- deployments and growing use of big data analytics by organizations worldwide increase the need for the development of advanced fleet management solutions by solution providers. In addition to this, the growing number of fleets in many emerging countries drives the implementation of fleet management solutions in regions.

Among the solutions segment, the fleet analytics and reporting provider segment to grow at the highest CAGR during the forecast period

Under the solutions segment, the fleet analytics and reporting is expected to grow at a higher growth rate during the forecast period. The fleet analytics and reporting solution assists fleet companies in making smarter decisions by unlocking the business value of information hidden within massive amounts of fleet data. Reporting helps in identifying the fleets with greater maintenance needs by providing intelligence on carbon emissions, vehicle statistics, fuel transactions, and previous maintenance records.

Among the services segment, the professional services segment is expected to dominate the market during the forecast period

Under the services segment, the professional services segment is expected to hold a larger market size during the forecast period, due to the demand for implementing solutions, integration of new technologies, and complexity of infrastructures. For these reasons, many businesses are offering professional services to their customers.

Among regions, North America to hold the largest market share during the forecast period

North America is estimated to hold the largest market size in 2018, due to the early adoption of fleet management solutions by fleet businesses across the region. The government regulations, such as ELD mandates, have proven to be a major factor driving the growth of the fleet management market in the region.

Competitive Landscape

The report also contains the profiles and the competitive leadership mapping of major technology vendors. Some major technology vendors include: Automotive Rentals Inc. (ARI), Azuga Inc. (Azuga), Chevin Fleet Solutions (Chevin), Donlen Corporation (Donlen), Geotab, GPS Insight, NexTraq, LLC (NexTraq), Masternaut Limited (Masternaut), Merchants Automotive Group d/b/a Merchants Fleet (Merchants Fleet), MiX Telematics International (Pty) Ltd (MiX Telematics), Omnitracs LLC (Omnitracs), Teletrac Navman, Trimble Inc. (Trimble), Verizon Connect, and Wheels, Inc.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Forecast
2.4 Competitive Leadership Mapping Research Methodology
2.5 Research Assumptions and Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Fleet Management Market
4.2 Market By Component, 2018
4.3 Market By Solution, 2015-2023
4.4 Market By Service, 2018 vs 2023
4.5 Market By Deployment Type, 2018-2023
4.6 Market By Fleet Type, 2018-2023
4.7 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Fleet Owners' Increasing Focus on Operational Efficiency Growing Adoption of Cloud Computing and Big Data Analytics Solutions for Streamlining Fleet Management Operations Declining Hardware and IoT Connectivity Costs Leading to Increased Deployment of Fleet Management Solutions Strict Government Mandates Creating New Revenue Streams for Vendors
5.2.2 Opportunities Harnessing Telematics Data for Making Informed Business Decisions Green Fleet Initiatives for Reducing the Environmental Impact and Ensuring Efficient Functioning of Fleets Introduction of Autonomous Fleets to Provide Multiple Partnership Opportunities
5.2.3 Challenges Driver Safety and Productivity Affecting Vehicle Uptime Inaccurate Geocoding Blind Spots in the Network Coverage Rapidly Growing Data Volumes and Increasing Cyber Threats
5.3 Industry Trends
5.3.1 Unfulfilled Services
5.3.2 Future Trends

6 Fleet Management Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Operations Management Fleet Tracking and Geofencing Idle Time Monitoring of Drivers Helps in Increasing Productivity Routing and Scheduling Efficient Routing Helps in Minimizing the Fuel Consumption Leading to Improved Efficiency
6.2.2 Vehicle Maintenance and Diagnostics Proactive Maintenance and Proper Scheduling Reduces the Vehicle Downtime
6.2.3 Performance Management Driver Management Driver Management Leads to Faster Delivery and Improved Vehicle Utilization Fuel Management Fuel Management to Support Fleet Performance Optimization and Help Maintain Environmental Sustainability
6.2.4 Fleet Analytics and Reporting Real-Time Analytics Help Optimize Fleet Management Operations By Decreasing Vehicle Downtime and Reducing Fuel Consumption
6.2.5 Others
6.3 Services
6.3.1 Professional Services Consulting Consulting Helps in Effective Utilization of Time and Resources Through Proper Analysis of Impacting Factors Implementation Implementation Services to Witness the Highest Growth in Asia Pacific Support and Maintenance Rapid Deployment of Solutions Leading to Increased Requirement for Support and Maintenance Services
6.3.2 Managed Services Managed Services Help Reduce Cost, Provide In-Time Delivery, and Decrease Complexities

7 Fleet Management Market Size, By Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises Deployment Ensures Full Control Over the Infrastructure But is Expensive
7.3 Cloud
7.3.1 Cost Effectiveness and Flexibility Provided By Cloud-Based Deployment Leading to Increased Adoption of Cloud-Based Fleet Management Solutions and Services

8 Fleet Management Market, By Fleet Type
8.1 Introduction
8.2 Commercial Fleets
8.2.1 Light Commercial Vehicles North America is the Largest Contributor of Fleet Management in the LCV Segment
8.2.2 Medium and Heavy Commercial Vehicles Fleet Management in M&HCV to Grow at the Highest Rate in APAC
8.3 Passenger Cars
8.3.1 Internal Combustion Engine The Adoption Ice-Based Vehicles to Witness A Gradual Decline During the Forecast Period
8.3.2 Electric Vehicles Electric Vehicles to Witness A Rapid Adoption During the Forecast Period

9 Fleet Management Market, By Region
9.1 Introduction
9.2 North America
9.2.1 United States Adoption of Latest Fleet Management Solutions By Fleet Managers to Drive the Growth of Fleet Management in the US
9.2.2 Canada Increasing Acquisitions of Companies in Canada By Major Fleet Management Players to Drive the Market Growth in Canada
9.3 Europe
9.3.1 United Kingdom Integration of Telematics By Organizations in Their Fleet Businesses to Drive the Growth of the Market in This Region
9.3.2 Germany Implementation of Euro 6 Emission Standards Set By the European Union to Hamper the Growth of the Market in Germany
9.3.3 Rest of Europe
9.4 Asia Pacific
9.4.1 China Increase in Corporate Fleet Sales Across the Country to Drive the Growth of the Market in China
9.4.2 Japan Advent of Electric Vehicles/Hybrid Cars to Drive the Market in Japan
9.4.3 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil Security and Theft Protection Regulation in Brazil to Drive the Growth of the Market in Brazil
9.5.2 Mexico Lack of Knowledge of Fleet Management Benefits to Impact the Growth of Fleet Management Solutions By Organizations in Mexico
9.5.3 Rest of Latin America
9.6 Middle East and Africa
9.6.1 Kingdom of Saudi Arabia Lack of Good Operational and Remarketing Structure of Fleet Management in the Country to Affect the Growth of the Market in Kingdom of Saudi Arabia
9.6.2 South Africa Lack of Technology Infrastructure and Political Instability to Affect the Growth of the Fleet Management Market in South Africa
9.6.3 Rest of MEA

10 Competitive Landscape
10.1 Competitive Leadership Mapping
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Ranking of Key Players for the Fleet Management Market, 2018
10.3 Competitive Leadership Mapping (Start-up)
10.3.1 Progressive Companies
10.3.2 Responsive Companies
10.3.3 Dynamic Companies
10.3.4 Starting Blocks

11 Company Profiles
11.1 Donlen Corporation
11.2 Geotab
11.3 Inseego Corp.
11.4 Automotive Rentals Inc.
11.5 Omnitracs
11.6 Teletrac Navman
11.7 Trimble
11.8 Verizon Connect
11.9 Wheels Inc.
11.10 Mix Telematics
11.11 GPS Insight
11.12 Masternaut
11.13 Nextraq
11.14 Chevin Fleet Solutions
11.15 Azuga

For more information about this report visit https://www.researchandmarkets.com/r/9gryif

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Related Topics: Car Fleet