Fleet Management Market Estimated to be Worth USD 8.03 Billion in 2015 and Projected to Reach USD 22.35 Billion by 2020

09 Dec, 2015, 03:30 ET from Research and Markets

DUBLIN, December 9, 2015 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/kfx32l/fleet_management) has announced the addition of the "Fleet Management Market - Global Forecast to 2020" report to their offering. 

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Fleet management is a crucial function that facilitates reduction of costs and risks related to vehicle investment, management, and telematics. It ensures compliance to regulations by minimizing CO2 emissions, and constantly monitors driver behavior, fuel management, and tracks location. Technologies such as Global Positioning System (GPS) tracker, sensors, and Radio Frequency Identification (RFID) tags are used to monitor vehicles and check the fleet movement and fuel usage. 

The fleet management market growth can be attributed to several factors such as cost benefit vis-à-vis Software-as-a-Service (SaaS) and cloud-based deployment of fleet management solutions. Moreover, certain determinants such as hike in global fleet prices, rigorous government norms & regulations to reduce the CO2 emissions from transportation and logistics activities have resulted into greater emphasis on business operation efficiency, fleet performance monitoring, and fuel consumption management. Besides, decrease in hardware and connectivity cost also supports the market growth. 

The fleet management solutions are used moderately in North America and Europe as compared to other regions, where the adoption rate of fleet management solutions and services is slow. The factors responsible for the sluggish growth in emerging economies such as Middle East and Africa (MEA) and Latin America are high initial cost and lack of awareness about fleet safety and security. Some of the APAC countries, such as China, Japan, and India have a high potential for implementing fleet management due to the presence of large number of commercial vehicles. 

The fleet management market is estimated to be USD 8.03 Billion in 2015 and is projected to reach USD 22.35 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 22.7% between 2015 and 2020. 

Key Topics Covered: 

1 Introduction 

2 Research Methodology

3 Executive Summary 

4 Premium Insights 

5 Market Overview 

6 Fleet Management Market: Industry Trends 

7 Fleet Management Market Analysis, By Solution 

8 Fleet Management Market Analysis, By Connectivity Technology 

9 Fleet Management Market Analysis, By Service 

10 Fleet Management Market Analysis, By Vertical 

11 Geographic Analysis 

12 Competitive Landscape

13 Company Profiles  

  • ARI
  • AT&T, Inc.
  • Cisco Systems, Inc.
  • Fleetmatics Group PLC
  • GE Capital
  • I.D. Systems Inc.
  • IBM Corporation
  • Tomtom NV
  • Trimble Navigation Limited
  • Verizon Communications

For more information visit http://www.researchandmarkets.com/research/kfx32l/fleet_management

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