The Global Fleet Management Market to Reach USD 74.02 Billion from 2023 to 2028, 19.93% CAGR Projected | Technavio

NEW YORK, Jan. 23, 2024 /PRNewswire/ -- The Global Fleet Management Market is set for remarkable growth, with a projected CAGR of 19.93% between 2023 and 2028. The market is forecast to increase by USD 74.02 billion during this period. Several key factors contribute to this growth, including the rise in e-commerce and last-mile delivery, a growing focus on asset tracking, and the increasing popularity of cold chain transportation. The market analysis and report provide a comprehensive outlook on the Fleet Management Market, offering forecasts for the industry segmented by type, which includes subscription, hardware, and others. View free sample report.

Companies like AT&T Inc., Avrios International AG, Bridgestone Corp., Chevin Fleet Solutions, Donlen Corp., and Element Fleet Management Corp. are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Market Segmentation:

• Type Outlook: Subscription Model and Hardware
• Vehicle Type Outlook: Commercial Fleet and Passenger Car
• Regional Analysis: Asia-Pacific (APAC) is estimated to contribute 32% to the market research and growth of the global market during the forecast period.

Economic stability and growth in North America contribute to increased commercial activities, resulting in a higher demand for efficient management solutions. Urbanization and traffic congestion drive the need for efficient fleet management, boosting the demand for solutions that optimize routes and reduce idle time.

The report contains detailed analysis of the competitive market landscape and information about the regional impact. Download PDF report.

Future Outlook: As the Fleet Management Market continues to evolve in response to the dynamic landscape of logistics and transportation, the market is poised for substantial growth. Key trends, such as the increasing popularity of cold chain transportation and a growing focus on efficient data use, are expected to shape the market's trajectory during the forecast period.

Access a detailed report that includes the market dynamics, analysis of key drivers, trends, and challenges of the Global Fleet Management Market. Get more information by purchasing the report.
 

Related Reports:

The Europe - fleet management market size is estimated to grow at a CAGR of 19.69% between 2022 and 2027. The market size is forecast to increase by USD 16.08 billion.

According to Technavio's analysts, the AI-powered fleet-management software market share is expected to rise to USD 4.68 billion by 2026, at an accelerating CAGR of 20.04%. 

Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Competitive Landscape

12 Companies Analysis

13 Appendix

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SOURCE Technavio