Global Fleet Management System Market Expected to Reach XX Million by 2025
Fundamental Shift Towards Business Management Development
According to a new report published by Reports Monitor titled, “fleet Management System Market by type, and by Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the fleet management system market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America is anticipated to dominate the fleet management system market, both in terms of revenue, and is expected to maintain this trend throughout the forecast period.
Fleet Management System is third generation of technology started with basic, automated vehicle location before entering into GPS fleet management. FMS solutions supports smooth and continuous integration with vehicle operating diagnostics, third-party dispatch, driver monitoring for legalisation compliance, back end systems and companies core business processes. The service uses combination of telematics devices, network & software tools and navigation systems to provide efficient tracking and reporting structure for fleet owners.
Requirement for operational competency in fleet management, insistence on centralizing fleet operations, and declining cost of hardware & software are majorly driving the market to grow in coming years. In addition, compulsion of ELD deployment, rising safety concerns in fleet market, important government regulation, increased adoption of wireless technology due to dropping prices and access to greater connectivity boosting the market for further growth. Nevertheless, inclining operational cost and lack of awareness among small fleet vendors might hamper the growth of the market.
The fleet market provides lucrative opportunities to other fields including growth in international trades for goods and services, establishment and development of big data and cloud services, vehicle replacement market, and green fleet activities to reduce the impact on environment and ensure effective functioning of fleet. Operational Fleet Monitoring and Management segment is expected to hold the massive share of the market. This segment is expected to be followed by vehicle management solutions in terms of market share. In terms of application logistic fleet segment is anticipated to bloom the market.
Key Finding and Scope: • Reports Monitor estimates that the global fleet management solutions market will exhibit an exponential CAGR of XX% during the period between 2017 and 2025, rising from a valuation of US$ XX billion in 2015 to US$ XX billion in 2025. • Operational Fleet Monitoring and Management segment is anticipated to grow from XX billion to XX billion for the forecast period with growing CAGR of XX%. • Logistic Fleet application is predicted to experience pace at a CAGR of XX%. • Regionally, North America is estimated to witness lucrative growth for the forecast period with increased valuation from XX billion to XX billion by 2025.
Key players profiled in market are: AssetWorks LLC, CalAmp Corp., Daimler Fleetboard GmbH, Emkay, FleetCor Technologies, Inc., Omnitracs, LLC, Scania AB, Telenav, Inc., Teletrac Navman US Ltd, TomTom International N.V., Trimble Inc. and Fleetmatics Group PLC.
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