Fleet Management Solutions Market Growth Factors with Key Drivers Forecast from 2019-2024 | Industry Analysis by Key Players, and Upcoming Trends

Fleet

This “Fleet Management Solutions Market” report 2019-2024 provides in-depth analysis of scope of existing and forthcoming market and overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost, gross and gross margin. Fleet Management Solutions market report more focuses on top industry leaders and explores all essentials aspects of competitive landscape. Additionally, the report shows the crucial information like CAGR, SWOT analysis, growth rate, revenue, and regional analysis of industry.

Major Key Players of Fleet Management Solutions Market:

  • Cisco Systems Inc.
  • AT&T Inc.
  • Ctrack (Inseego Corp. )
  • I.D. Systems
  • IBM Corporation
  • Astrata Group
  • Mix Telematics Limited
  • Omnitracs LLC
  • Tomtom NV
  • Trimble Navigation Limited
  • Verizon Communications Inc.
  • Wheels Inc.Get a Sample Copy of the Report – https://www.industryresearch.co/enquiry/request-sample/13999424

    Market Overview:

  • The fleet management solutions market was valued at USD 5.12 billion in 2018, and is expected to reach a value of USD 15.4 billion by 2024, at a CAGR of 20.07% over 2019-2024. Recently, businesses are increasingly adopting transportation to enhance their offerings. Thus, commercial fleets have witnessed a considerable rise over the past few years.
  • According to the data from the Automotive Fleet, in the United States, sales of vehicles to commercial fleets, from eight major manufactures, increased by 2.1%, to 69,145, in May 2018, as compared to the previous year.
  • The fleet management market has been greatly affected by rising operational costs, rooting from the increased demand for utility vehicles, rising expenditure on maintenance, and steady growth in compliance costs.
  • Fleet management solutions are being widely used by large- and medium-scale fleet owners for streamlining operations. The rate of adoption among small fleet owners has been slow, owing to factors, like lack of awareness, limited operation scale, smaller budgets, limited compliance norms, high capital requirements, and rise in operational costs.
  • According to AT&T, the annual accident rate for commercial fleets is about 20%. Fleet accidents have the most expensive injury claims for businesses, with an average cost of about USD 70,000 per accident. This has emphasized the need to manage the commercial fleet.Scope of the Report:
  • Fleet vehicle management can include a range of functions, such as vehicle financing, vehicle maintenance, vehicle telematics, such as tracking and diagnostics, driver management, speed management, fuel management, and health and safety management.Key Questions Answered in This Report:
    • What are the market dynamics?
    • What are the key market trends?
    • What are the category growth drivers?
    • What are the constraints on category growth?
    • Who are the suppliers in this market?
    • What are the demand-supply shifts?
    • What are the major category requirements?

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    Key Market Trends:

    Driver Management Segment Expected to Hold Significant Share

    The driver management systems in fleet management solutions include applications, such as driver registration, insurance risk management, and analysis. The prime motive of driver management systems is to study the driver behavior and make necessary changes to driving styles, which will reduce fuel consumption and improve the vehicle’s maintenance.
    These systems promote better driving behavior and continuously send feedback indicating the driving style, with alerts. Organizations are adopting this solution, as it provides them fuel savings, lowers maintenance costs, and makes them feel secure about the management of the vehicle and customers.
    According to a recent safety report by Volvo Trucks, more than 90% of the accidents were caused due to human factors. The survey indicates that more than 13% of the accidents caused fatalities to heavy goods vehicle occupants.
    In North America alone, there has been a severe increase in the number of warehouses form third-party logistics players, like DHL, XPO, Ryder, and Geodis. It is estimated that during 2016 to 2017, DHL increased its warehouse count in North America by 60%, XPO Logistics by 18%, and NFI Logistics by 11%.

    United States to Witness Significant Growth

    The US government is currently assessing the potential of telematics to reduce cost of accidents, which, in turn, is driving the market for fleet management services. The US fleet market is dominated by Ford, General Motors, and Fiat-Chrysler. OEMs are moving fleet sales to retail channels to increase their profitability.
    Increasing awareness about the cost benefits of fleet management and leasing may attract more new customers. Additionally, reduced government spending and anxieties of a double-dip recession could restrain the growth in the market.
    According to the EPA, combustion of fossil fuels, such as diesel and gasoline, to transport goods and people, is the second-largest source of carbon dioxide emissions, totaling to about 31% of the US carbon dioxide emissions, and more than one fourth of the US greenhouse gas emissions.
    Apart from various industries adopting fleet management solutions, the US Department of Homeland Security has also taken fleet management solutions to provide its fleet managers access to data-driven insights to manage the daily operations of fleet. The Department of Homeland Security (DHS) landed a telematics contract with WEX Inc., in order to supply vehicle telematics products and services. According to WEX, the Homeland Security operates a fleet of around 52,000 vehicles, making it one of the largest federal agency fleets in the United States.

    The Report Covers:

    • Comprehensive research methodology of Fleet Management Solutions market
    • In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
    • Analysis of regional regulations and other government policies impacting the Fleet Management Solutions market
    • Insights about market determinants which are inspiring the Fleet Management Solutions market
    • Detailed and extensive market segments with regional distribution of forecasted revenues
    • Extensive profiles and recent developments of market players Companies Mentioned

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    Detailed TOC of Fleet Management Solutions Market 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Renewed Emphasis on Streamlining Fleet Operations
    4.3.2 Availability of a Wider Range of Reporting and Analytics Services
    4.3.3 Affordable Hardware and Access to Greater Connectivity
    4.4 Market Restraints
    4.4.1 Lack of Awareness among Smaller Fleet Owners
    4.4.2 Rising Operational Costs for Fleet Vendors
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness- Porters Five Forces Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Deployment Model
    5.1.1 On-premise
    5.1.2 On Demand
    5.1.3 Hybrid
    5.2 By Solution
    5.2.1 Asset Management
    5.2.2 Information Management
    5.2.3 Driver Management
    5.2.4 Safety and Compliance Management
    5.2.5 Risk Management
    5.2.6 Operations Management
    5.2.7 Other Solutions
    5.3 By End User
    5.3.1 Transportation
    5.3.2 Energy
    5.3.3 Construction
    5.3.4 Manufacturing
    5.3.5 Other End Users
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 United Kingdom
    5.4.2.3 France
    5.4.2.4 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Rest of Asia-Pacific
    5.4.4 South America
    5.4.4.1 Brazil
    5.4.4.2 Argentina
    5.4.4.3 Rest of South America
    5.4.5 Middle East & Africa
    5.4.5.1 United Arab Emirates
    5.4.5.2 Saudi Arabia
    5.4.5.3 South Africa
    5.4.5.4 Rest of Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Cisco Systems Inc.
    6.1.2 AT&T Inc.
    6.1.3 Ctrack (Inseego Corp. )
    6.1.4 I.D. Systems
    6.1.5 IBM Corporation
    6.1.6 Astrata Group
    6.1.7 Mix Telematics Limited
    6.1.8 Omnitracs LLC
    6.1.9 Tomtom NV
    6.1.10 Trimble Navigation Limited
    6.1.11 Verizon Communications Inc.
    6.1.12 Wheels Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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