The global on fleet management software market was valued at $17.5 billion in 2021 and it is expected to reach $21.5 billion at a CAGR of 15.4% between 2022 and 2032. Several industries are focusing on adopting fleet management software to achieve higher operational efficiencies as well as to enhance vehicular safety. These are the major factors which are driven the growth of the global fleet management software market over the last few years.
Various modern technologies such as artificial intelligence, machine learning, big data analytics and more are growing at present days across several industries due to the increased demand. Hence, these are anticipated to boost the growth of the fleet management software market over the forecast period. Multiple industry players are focusing on continuing to exhibit traction for IoT-powered fleet tracking solutions to track, optimize and assess operations. Moreover, the demand for multiple vehicle tracking systems across several manufacturing industries and transportation sectors would accelerate the growth of the fleet management software market. There are many key players across the globe which is focusing on creating partnerships with other companies and trying to develop business strategies in several developing nations. These key players are also investing to merge and acquire other subsidiary companies. This would give the market another benefit. However, over the two and a half years, COVID-19 negatively impacted the market. Hence, it changed the scenario of the overall market. Several industries had to work from home and it hampered the growth of the fleet management software market.
Source: SAI Research
Based on fleet type, the global fleet management software market is segmented into the commercial fleet and passenger cars. The commercial fleet segment holds the largest share of the market and is anticipated to accelerate it in the upcoming years. Multiple industries such as transportation, logistics, and manufacturing among others are highly dependent on the supply chain as well as on on-time delivery. This rising demand is projected to accelerate market growth. Moreover, the demand and usage of multiple cars and other vehicles are driving the market.
Based on deployment type, the global fleet management software market is categorized into cloud-based and on-premises. The cloud-based segment is accounted for the largest share of the market and is projected to boost market growth due to its cost-efficient and hassle-free capabilities. It has also offered other effective ways for managing fleet activity. For example, GPS tracking has become more popular among several industries which are associated with fleet management software solutions.
Based on end-user, the market is categorized into manufacturing, IT and telecom, transportation, oil and gas, logistics, and more. Among these, the manufacturing segment holds the maximum share of the market and is projected to establish new growth opportunities for the market itself. Due to the high dependency on the delivery of multiple materials and components for product manufacturing, the global fleet management software market is estimated to witness a more significant share over the upcoming years. On the other hand, several other industries are focusing on adopting software solutions which are likely to accelerate the market during the forecast period.
Based on regions, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Africa. North America has been leading the global fleet management software market over the past decade. Most of the key players are located in several countries across North America, which are developing their business growth by implementing new strategies. Automobile companies are adopting this fleet management software for vehicle tracking systems. This would benefit the market to gain more growth. Besides this, Europe is another region that is expected to become the second-fastest market across the globe. Industries such as manufacturing and automobile are trying to make business strategies by adopting innovative fleet management software. This would drive the growth of the market.
According to the study, key players such as AT&T (U.S), Apollo Global Management (U.S), Azuga Inc (U.S), Cisco Systems (U.S), Fleetroot (UAE), Fleetmatics Group PLC (Ireland), Fleet Complete (Canada), FLEETCOR (U.S), GURTAM (Lithuania), Geotab (Canada), Holman Automotive (U.S), Inseego Corp (U.S), IBM (U.S), LeasePlan Corporation (Netherlands), Mix Telematics (South Africa), Orbcomm (U.S), Omnitraces LLC (U.S), Rarestep (U.K), Trimble (U.S), Zonar Systems (U.S), among others are leading the global on fleet management software market.
|Market Size in 2021||US$ 17.5 Billion|
|Market Volume Projection by 2032||US$ 21.5 Billion|
|Forecast Period 2022 to 2032 CAGR||15.4%|
|Historical Data||2019, 2020 and 2021|
|Forecast Period||2022 to 2032|
By Fleet Type: Commercial Fleet, Passenger Cars
By Deployment Type: Cloud-Based, On Premises
By End-User Type: Manufacturing, IT and Telecom, Transportation, Oil and Gas, Logistics And Others
North America, Europe, Asia-Pacific, LAMEA
|Companies covered||AT&T (U.S), Apollo Global Management (U.S), Azuga Inc (U.S), Cisco Systems (U.S), Fleetroot (UAE), Fleetmatics Group PLC (Ireland), Fleet Complete (Canada), FLEETCOR (U.S), GURTAM (Lithuania), Geotab (Canada), Holman Automotive (U.S), Inseego Corp (U.S), IBM (U.S), LeasePlan Corporation (Netherlands), Mix Telematics (South Africa), Orbcomm (U.S), Omnitraces LLC (U.S), Rarestep (U.K), Trimble (U.S), Zonar Systems (U.S), & Others|
The Global On Fleet Management Software Market – by Fleet Type:
The Global On Fleet Management Software Market – by Deployment Type:
The Global On Fleet Management Software Market – by End-User Type:
The Global On Fleet Management Software Market – by Regions:
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