Posted By Uma Rajagopal
Posted on November 3, 2021
The global fleet management market is slated to see an upward trend in the coming years as the end users see operational efficiencies amidst unprecedented demand for logistics. The growing need to have absolute transparency of operations through analytics in logistical conduct has given the global fleet management a purpose to keep on upgrading. Availability of IoT solutions, improved hardware, better software, and government mandates to streamline business operations have also added to the market growth. Shared responsibility of fleet and reduction of costs have proven to be the topmost incentives for the end users in the global fleet management market.
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Mobility-as-a-Service to Open Doors to Greater Earning Capacity for Global Fleet Management Market
Usage of mobility-as-a-service (MaaS) solutions is expected to streamline the global fleet management market tremendously. It will allow fleet owners to create simpler, fuel and route-efficient travel plans, enabling optimum usage of vehicles to transport goods or people. This segment of the market stands to gain incrementally as the attitude in the industry shifts from owning fleets to managing the overall cost of mobility for the given organization. The upward trend in this segment will also be the result of growing concerns about environmental issues as big organizations are closely monitoring their carbon emissions to build a green economy.
Advancements in Fleet Tracking Technologies Build Confidence
Vehicle tracking technologies and devices have seen a huge revolution in the past decade. The global fleet management market heavily relies on this to ensure the driver safety, retention, security of goods being transported, and condition of the vehicle amongst others. Map integration, mobile reports, engine status, driver analysis, and daily travel and mileage along with GPS have given this market a massive boost. Analysts at Fairfield Market Research also indicate the influx of multiple technologies to objectively solve issues with Big Data and advanced telematics. This will enable end users to have asset-to-vehicle tracking by deploying sensors, GPS, and dashboard cams.
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North America to Hold Lion’s Share in the Global Fleet Management Market
Geographically, North America is slated to lead the global fleet management market as shared mobility has been a more organised business with a growing number of cab companies. The explosion of daily commuters in urban spaces led to a rise of cabs and taxis, giving the regional fleet management market an impetus. Analysts anticipate that passenger cars will be the leading segment opting for these services.
Asia Pacific also holds a giant opportunity for the fleet management market as the emerging economies of China and India are witnessing a growing number of cab hailers. The entry of cab companies offering excellent services at affordable prices and rising fuel prices have prompted the younger population to opt for private transport system at a shared cost, giving this market a chance to make its mark
Some of the key players operating in the fleet management market are TomTom N.V., Cisco Systems, Inc., Trimble Inc., Geotab Inc., GoFleet Corporation, Digital Matter, Fleetmatics Group PLC, GoGPS, GPS Trackit, Wireless Links, Gurtam, Teletrac Navman, Embitel, Linxio, TigerFleet, StreetFleet, Ruptela, WebEye Telematics Group, and Trakm8 Limited.
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