Global Fleet Management Software Market

Global Fleet Management Software Market Size, Share, Growth Analysis, By Deployment(Cloud Based, On Premises), By Industry(Power, Automotive) - Industry Forecast 2023-2030


Report ID: SQSG45F2009 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 70 | Figures: 75

Global Fleet Management Software Market Insights

Global Fleet Management Software Market size was valued at USD 18.2 billion in 2021 and is poised to grow from USD 20.73 billion in 2022 to USD 67.38 billion by 2030, growing at a CAGR of 18.3% in the forecast period (2023-2030).

Software for fleet management performs a variety of tasks, including, among others, finance for vehicles, vehicle maintenance, tracking and diagnostics, driver and vehicle management, speed and fuel management, and health and safety management. Since the market for these solutions is still in its infancy, there are many chances for the sellers.

Due to the benefits it offers, like a quicker time to market, high efficiency, more features, and a cheaper cost than on-premise, vendors in the industry are choosing cloud products. For example, Zoho Corporation is relying on innovations like the cloud, the Internet of Things (IoT), and artificial intelligence (AI) to use IRDA's predictions. For instance, WebNMS said that by incorporating AI and machine learning into its fleet management solutions, a midsized fleet of 25–50 cars could save 10-15% on fuel.

Telematics is starting to revolutionise the way organisations plan and organise their employees. Technology for fleet management has several advantages for companies of all sizes. They can effectively monitor operations thanks to it, and it acts as a digital road map for encouraging safe and efficient driving. This has the potential to lower risk while also lowering costs. It has evolved into a vital tool for enterprises in many ways.

Fleet management must prioritise driver safety above anything else. According to a recent study, speed is "at the heart of the problem with road safety" and "in about 30% of the fatal incidents speed is an important contributory element." Because of this, a fleet management system's primary focus is on the performance and behaviour of the drivers. The ability to receive notifications and alerts concerning risky driving practises in close to real-time is a key advantage of fleet management software. For instance, fleet tracking tools like dashboard cameras enable fleet managers to keep an eye on any instances of speeding, forceful braking, or sharp turns made by their drivers.

US Fleet Management Software Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 18.2 billion

Fastest Growth

Cloud Based

Growth Rate

18.3% CAGR

Global Fleet Management Software Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
Global Fleet Management Software Market Size By Deployment , 2021-2028 ($ Bn)
Global Fleet Management Software Market Size By Deployment, 2021-2028 (%)

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Global Fleet Management Software Market Segmental Analysis

Global fleet management software market is segmented based on the Deployment, Industry, and region. Based on the Material Type, the Global Fleet Management Software Market is segmented as Cloud Based, On Premises and Hybrid. Based on Industry, the fleet management software market is segmented as Power, Automotive, Mining, Oil and Gas, Aerospace and Defense, Utility, Logistics and Transportation. Based on Region fleet management software market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Fleet Management Software Market Analysis by Deployment

Based on the Deployment, the Fleet Management Software market is bifurcated into Cloud Based, On Premises and Hybrid. The cloud-based sector is expected to account for more than 50% of the market in 2028, owing to the rising demand for operational efficiencies and the necessity for novel monitoring systems to handle rising fuel prices. The proprietors of the UK limited company can manage fuel operational difficulties with the help of a new fuel card management app that Shell Fleet Solutions UK launched in March 2021. On both iOS and Android platforms, the Shell Fleet App offers information on driver fuel card charges. The demand for intelligent fuel management programs increased passenger automobile mobility, and other pertinent variables are therefore boosting the expansion of the fleet management software industry.

Fleet Management Software Market Analysis by Industry

Based on Industry, the Fleet Management Software market is segmented into Power, Automotive, Mining, Oil and Gas, Aerospace and Defense, Utility, Logistics and Transportation. Logistics and transportation are expected to account for the biggest proportion of more than 54.6% till 2028, owing to rising global trade activity, significant E-commerce sector growth, and the introduction of cloud-based technologies for smart mobility. To assist the start of the e-commerce sector across India, the largest luxury car manufacturer in the country, Mercedes Benz India, introduced a number of digital initiatives in October 2019. These initiatives included "Mercedes me Adapter" and "Mercedes Connect." The development of connected networks and the expansion of IoT solutions are accelerating market expansion. The MESMA 48 platform, which offers greater acceleration than ICE competitors, was introduced by Mahindra Electric Mobility in September 2020 for EVs such as three-wheelers, quadricycles, and other light electric vehicles.

Global Fleet Management Software Market By Deployment, 2021(%), 2021 (%)

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Global Fleet Management Software Market Regional Insights

North America is expected to control the Fleet Management Software market share. The North American market will benefit from the soaring demand for vehicle monitoring systems throughout the manufacturing and transportation sectors in the United States and Canada. Additionally, the automotive and logistics industries have taken the lead. Notably, the adoption of real-time tracking technologies has grown significantly across end-use industries, sparking a rush of advancements throughout the area. Due to the expanding presence of the automotive and heavy manufacturing industries, the market for fleet management software in Europe will experience notable expansion. In addition, strong demand for passenger automobiles in the UK, France, and Germany has accelerated the move toward linked vehicles. In addition, stakeholders anticipate that the commercial fleet will gain momentum due to the growing demand for fleet timing, material scheduling, and tracking.

Global Fleet Management Software Market By Geography, 2021 - 2028, 2023-2030
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Global Fleet Management Software Market Dynamics

Fleet Management Software Market Driver

  • The supply and logistics industries have been heavily pushed by the exponential growth of omnichannel shopping sectors to embrace cutting-edge IoT solutions, such as alarm systems, asset trackers, and vital and complex fleet management software, to satisfy the expanding demand. It enables GPS tracking and geofencing and assists customers who own commercial vehicles in measuring fuel use, driver behavior, and other factors. Since the logistical sector of the economy depends entirely on the transformation of goods for delivery to any location on the planet, performance might be adversely affected by any stoppage. The demand for an efficient logistical operation has increased due to the e-commerce boom, which fuels the growth of the Fleet Management Software Market
  • Every industry aims to produce the most at the lowest cost. For fleet managers, the expense associated with fleets accounts for a sizable amount of the business' operational costs. By optimizing routing, maintaining vehicle security, boosting driver safety, and enhancing the performance and lifespan of fleet vehicles, fleet management systems aid fleet owners in making more money. Additionally, it aids in the visualization of fleet performance and the determination of the drivers or cost-saving categories that need to be improved. Fleet management assists managers in downsizing fleet cars, offering maintenance management, cutting fuel expenses and travel distances, changing driver behavior, and reducing administrative costs. Fleet owners gain a competitive edge thanks to the advantages, which increase the efficiency of their business operations at a lower cost.

Fleet Management Software Market Restraint

  • Operators are attempting to use more sophisticated fleet solutions, such as cloud-based software to handle wide-area coverage for improved operation management, in order to satisfy the expanding needs in the logistic business. However, to avoid the risk of cyber security and unauthorized access to the system, tracking and monitoring the fleet requires top standalone applications or software as a service solution, both of which are expensive. These elements are thought to impede the expansion of the fleet management software market.

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Global Fleet Management Software Market Competitive Landscape

Global fleet management software market is somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Fleet Management Software Market Top Player's Company Profiles

Fleet Management Software Market Recent Developments

  • In Jul 2022, AXA Seguros Selects PowerFleet as a Preferred Technology Partner to Strengthen Their Commercial Fleets Segment. The partnership will look to help AXA strengthen its value proposition with the commercial heavy-duty fleets segment by helping customers improve operations and risk management through advanced telematics.
  • In Jul 2022, The German regulatory authorities approved the sale of the Quentic GmbH to the AMCS Group. The transaction is hence closed and Quentic will be a part of AMCS. With the addition of Quentic to its portfolio, AMCS expands its offering of promising digital solutions that optimize workflows and have a direct positive impact on the environment

Global Fleet Management Software Key Market Trends

  • Large amounts of data have been produced as a result of telematics being implemented in fleets. Because of this, fleet managers are worried about two important security issues: privacy and vulnerability to cybercriminals. Fleet-related data includes private information like the model of the vehicles, the identities of the drivers, and travel routes. The information can be used to do evil deeds or crimes, such as carjackings and premeditated crimes. End users are deterred from employing telematics solutions for a variety of reasons, including data privacy violations. Several data-related rules and regulations are gradually being implemented, and governments are currently keeping an eye on the issue.

Global Fleet Management Software Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Fleet Management Software Market Analysis, in terms of deployment, increased demand for operational efficiencies and the need for novel monitoring systems to deal with rising fuel prices, the cloud-based sector is predicted to account for more than half of the market by 2028. Based on Industry global fleet management software market is divided into Power, Automotive, Mining, Oil and Gas, Aerospace and Defense, Utility, Logistics, and Transportation based on distribution channel. The largest share is anticipated to be in logistics and transportation

Report Metric Details
Market size value in 2021 USD 18.2 billion
Market size value in 2030 USD 67.38 billion
Growth Rate 18.3%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Deployment
    • Cloud Based, On Premises, Hybrid
  • Industry
    • Power, Automotive, Mining, Oil, Gas, Aerospace, Defense, Utility, Logistics, Transportation
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Fleet Management Software Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Fleet Management Software Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Fleet Management Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fleet Management Software Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fleet Management Software Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Fleet Management Software Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Fleet Management Software Market size was valued at USD 18.2 billion in 2021 and is poised to grow from USD 20.73 billion in 2022 to USD 67.38 billion by 2030, growing at a CAGR of 18.3% in the forecast period (2023-2030).

Global fleet management software market is somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Verizon Connect', 'Geotab', 'Omnitracs, LLC ', 'Teletrac Navman', 'Trimble', 'Fleetmatics (Verizon)', 'TomTom Telematics (Bridgestone)', 'GPS Insight', 'Wheels Telematics', 'Fleetio', 'Fleet Complete', 'GpsGate', 'Samsara', 'Azuga', 'Movolytics', 'MiX Telematics', 'NexTraq (Michelin)', 'Quartix', 'Cartrack', 'MyGeotab'

The supply and logistics industries have been heavily pushed by the exponential growth of omnichannel shopping sectors to embrace cutting-edge IoT solutions, such as alarm systems, asset trackers, and vital and complex fleet management software, to satisfy the expanding demand. It enables GPS tracking and geofencing and assists customers who own commercial vehicles in measuring fuel use, driver behavior, and other factors. Since the logistical sector of the economy depends entirely on the transformation of goods for delivery to any location on the planet, performance might be adversely affected by any stoppage. The demand for an efficient logistical operation has increased due to the e-commerce boom, which fuels the growth of the Fleet Management Software Market

Large amounts of data have been produced as a result of telematics being implemented in fleets. Because of this, fleet managers are worried about two important security issues: privacy and vulnerability to cybercriminals. Fleet-related data includes private information like the model of the vehicles, the identities of the drivers, and travel routes. The information can be used to do evil deeds or crimes, such as carjackings and premeditated crimes. End users are deterred from employing telematics solutions for a variety of reasons, including data privacy violations. Several data-related rules and regulations are gradually being implemented, and governments are currently keeping an eye on the issue.

North America is expected to control the Fleet Management Software market share. The North American market will benefit from the soaring demand for vehicle monitoring systems throughout the manufacturing and transportation sectors in the United States and Canada. Additionally, the automotive and logistics industries have taken the lead. Notably, the adoption of real-time tracking technologies has grown significantly across end-use industries, sparking a rush of advancements throughout the area. Due to the expanding presence of the automotive and heavy manufacturing industries, the market for fleet management software in Europe will experience notable expansion. In addition, strong demand for passenger automobiles in the UK, France, and Germany has accelerated the move toward linked vehicles. In addition, stakeholders anticipate that the commercial fleet will gain momentum due to the growing demand for fleet timing, material scheduling, and tracking.

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