PUNE, India, July 17, 2019 /PRNewswire/ --The global Fleet Management Software Market is anticipated to gain impetus from the increasing focus on fleet effectiveness. According to a published report by Fortune Business Insights, titled, "Fleet Management Software Market: Global Market Analysis, Insights and Forecast, 2019-2026," the global market was valued at US$ US$ 14,047.6 Mn in 2018 and is estimated to reach US$ 46,584.7 Mn by 2026. In addition to this, the global Fleet Management Software Market is projected to expand at an impressive CAGR of 16.52% throughout the forecast period.
Browse Complete Report Details with Table of Content and Figures:
The global Fleet Management Software Market is persistently growing due to the increasing usage of electronic logging device, increase in cloud-based fleet management solutions, increasing demand of real-time tracking service, and government regulations. The report classifies the global Fleet Management Software Market in four segments, namely, by development, by geography, by component, and by fleet type. By development, the market is grouped into on premise and cloud. By component, the market is segmented into solutions, performance management, services, and vehicle maintenance and diagnostics. Passenger cars and commercial fleet are the two groups of the fleet type segment. Fortune Business Insights states that increase in the international trade and requirement of operational skills are currently accelerating the growth of global Fleet Management Software Market. However, factors such as, compulsory merging of electronic logging devices and usage of wireless technology have also contributed to the market growth.
Adoption of Technologically Advanced Software is Likely to Favor Growth in Asia Pacific
The global Fleet Management Software Market is divided into Latin America, Asia Pacific, North America, the Middle East and Africa, and Europe. Amongst these, North America had procured a revenue US$ 4546.3Mn in 2018. The region is projected to remain dominant in the global Fleet Management Software Market during the forecast period, especially in the cloud-based segment. This is likely to occur because of the existence of strong and renowned market players that are present across the U.S. These players have been regularly conducting research and development activities and have also been executing fleet management software tools in numerous private and public companies. Asia Pacific, on the other hand, had obtained a revenue of US$ 2861.9 Mn in 2018. The region is anticipated to witness growth during the forecast period due to the investments in small and medium organizations. The investments will in turn, increase the adoption of cloud-based fleet management software that are technologically advanced. In Asia Pacific, developing countries like India and China are anticipated to gain a considerable portion of the global Fleet Management Software Market in the coming years.
Prominent Software Companies Focus on Strategic Collaborations to Propel the Market
In February 2019, Omnitracs, a software company headquartered in Texas, U.S., announced the launch of MilesAhead Drive, Command, and Resolve solution. It will help in the simplification of exhaustive and daily job tasks that the fleet drivers are assigned with. The drivers would be able to smoothly access detailed information about specific routes as well as view the data of associated job tasks. In April 2019, Trimble Inc., a renowned California-based developer of unmanned aerial vehicles, receivers, software processing tools, etc., declared that it has teamed up with Cobalt, an IT asset life cycle management firm based in Ohio, to offer Trimble's fleet mobility clients with the ability to dispose of the old onboard equipment in an environment-friendly manner.
Key companies covered in the report
- GPS Insight
- Mix Telematics
- Fleet Complete
- Global Track
Table of Content:
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Industry SWOT Analysis
- Global Fleet Management Software Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Component (US$ Mn)
- Operations Management
- Fleet Tracking and Geofencing
- Routing and Scheduling
- Vehicle Maintenance and Diagnostics
- Performance Management
- Driver Management
- Fuel Management
- Fleet Analytics and Reporting
- Professional Services
- Training and Education
- Support and Maintenance
- Managed Services
- Market Sizing Estimations and Forecasts – By Fleet Type (US$ Mn)
- Commercial Fleet
- Passenger Cars
- Market Sizing Estimations and Forecasts – By Deployment (US$ Mn)
- Market Analysis, Insights and Forecast – By Geography (US$ Mn)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- Competitive Analysis
- Strategic Recommendations
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SOURCE Fortune Business Insights