Fleet Management Market worth $35.35 Billion by 2019

carThe fleet management market is expected to grow from $12.06 billion in 2014 to $35.35 billion by 2019*.

With the rapid increase in transportation of man and materials, the competition among the fleet owners is becoming tougher. The hike in fuel price, in addition, is making the fleet owners ponder over increasing efficiencies in their business operations. Specific norms have been introduced to reduce the CO2 emission from transportation and logistics activities and this in turn is making fleet performance monitoring and fuel consumption management extremely important for the fleet owners.

Fleet management is about smartening the fleet vehicles operations. Intelligent fleet management solutions based on technologies such as Global Positioning system (GPS)-based telematics are helping fleet operators to enhance operational efficiencies in terms of improving vehicle performance and mileage, enhancing operational reliability and safety, maintenance planning, driver control, and optimizing navigation and routes.

The number of vehicles is increasing globally with a major boom in the emerging economies; this has a positive impact on the fleet management industry.

Organisations from public transport, service sectors, logistics, and retail industries are expected to bring huge business opportunities for the fleet management vendors. The key strategies followed by many of the leading companies in the fleet management market are new technology, customized solution, and acquiring relatively small domain expert players.

*“Fleet Management Market by Components, Technologies and Services (Fleet Analytics, Vehicle Tracking & Fleet Monitoring, Telemetric, Vendor Services), by Fleet Vehicle Types (Trucks, Light Goods, Buses, Corporate Fleets, Container Ships, Aircrafts) – Global Forecast to 2019”