Fleet Management Software Market Size, Share, Report 2027

Fleet Management Software Market to 2027 - Global Analysis and Forecasts By Solutions (Operation Management, Asset Management, Driver Management, Vehicle Maintenance & Leasing, Driver Information System, and Others); End-User (Manufacturing, Government, Transportation and Logistics, Energy and Utilities, Retail, Construction, and Others)

Publication Month : Sep 2019

  • Report Code : TIPRE00004092
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 150
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Fleet Management Software market in global is expected to grow from US$ 15.81 Bn in 2018 to US$ 54.05 Bn by the year 2027. This represents a CAGR of 14.9% from the year 2019 to 2027.

Europe was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. Europe fleet management software market size is expected to gradually increase in the coming years till 2027, owing to the increasing spending in the automotive sector in the region.

 Lucrative Regional Fleet Management Software Markets

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Market Insights

Use of wireless technologies for fleet operations expected to boost the market

Currently, the wireless industry is growing immensely and setting new records for network traffic, network infrastructure, and wireless connections deployment. Due to the implementation of the Internet of Things (IoT) worldwide, it enables to enhance various systems used for various industries through wireless technologies. Wireless technologies play an important role in driving the economy of various countries around the globe. Several potential countries around the world are contributing to the country’s economy to remain competitive in the market. For instance, according to CTIA, a trade association for the wireless communications industry based in the U.S., The wireless industry contributed US$ 475 Bn to the U.S. economy annually in 2016.

Various companies use fleet management software in order to control the fleet vehicles. Integration of wireless technologies with fleet management software increases the efficiency of the fleets and helps reduce the burden of fleet operators. Wireless technology such as global positioning system and vehicle tracking systems helps to gain exceptional insight into the performance of the fleet. These wireless technologies also improve the behavior of the driver by monitoring the speed of the vehicle, harsh braking, and much more. Furthermore, according to a study, around 13 million devices enabled with wireless connectivity are deployed to manage fleet vehicles, and this figure might grow during the forecast period. Thus, due to increased emphasis on wireless technologies in vehicle operations help the vendors to increase their productivity, efficiency, would boost the global fleet management software market in the forecast period. 

Global Fleet Management Software Market- Solution Insights

The global Fleet Management Software market by solution was led by operation management segment. Vehicle maintenance & leasing segment held the second largest market in 2018 and is anticipated to increase its shares during the forecast period from 2019 – 2027.

Global Fleet Management Software Market - End-User Insights

The global fleet management software market by end-user was led by transportation and logistics segment. Manufacturing segment held the second largest market in 2018 and is anticipated to increase its shares during the forecast period from 2019 – 2027.


Global Fleet Management Software Market by Solution

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Fleet Management Software Market: Strategic Insights

fleet-management-software-market
Market Size Value inUS$ 15.81 Billion in 2018
Market Size Value byUS$ 54.05 Billion by 2027
Growth rateCAGR of 14.9% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The market players present in fleet management software market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company to maintain its brand name globally. Few of the recent developments are listed below:

2019:In April 2019, Geotab, Inc. declared an agreement to acquire BSM Technologies, a telematics and asset management solution provider. By implementing Geotab’s solution BSM’s customers in government as well as industry verticals such as construction and service and rail will gain access for enhanced visibility into driver habits, vehicle performance, accident detection and more.
2019:In March 2019, Omnitracs, LLC acquired Blue Dot Solutions, a software company. Omnitracs, LLC would integrate Blue Dot’s MilesAhead product suite, which would offer the industry a solution with a supreme ability to enhance the productivity, flexibility, scalability, and safety of overall fleet operations.
2018:In June 2018, Geotab Inc. acquired FleetCarma, which specializes in electric vehicle (EV) telematics. The acquisition with FleetCarma would enable its customer to provide a complete fleet management solution.

GLOBAL FLEET MANAGEMENT SOFTWARE MARKET – MARKET SEGMENTATION

Global Fleet Management Software Market by Solution

  • Operation Management
  • Asset Management
  • Driver Management
  • Vehicle Maintenance & Leasing
  • Driver Information System
  • Others

Global Fleet Management Software Market by End-User

  • Manufacturing
  • Government
  • Transportation and Logistics
  • Energy and Utilities
  • Retail
  • Construction
  • Others

Global Fleet Management Software Market by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Global Fleet Management Software Market - Companies Mentioned

  • ARI Fleet Management Company
  • Element Fleet Management Corp.
  • Geotab Inc.
  • GPS Insight
  •  NexTraq, LLC
  • Omnitracs, LLC  
  • Teletrac Navman US Ltd
  • Trimble, Inc.
  • Verizon Connect 
  • Wheels, Inc. 
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Solutions ; End-User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. ARI Fleet Management Company
  2. Element Fleet Management Corp.
  3. Geotab Inc.
  4. GPS Insight
  5. NexTraq, LLC
  6. Omnitracs, LLC  
  7. Teletrac Navman US Ltd
  8. Trimble, Inc.
  9. Verizon Connect 
  10. Wheels, Inc. 

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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