Enterprise Fleet Management Market Size, Share, Trends, Analysis and Forecast 2023

Enterprise Fleet Management Market Scenario

Enterprise Fleet Management is the process of managing vehicle fleet in an organization. Mismanaging a vehicle fleet can have significant effect on an organized operation. Enterprise Fleet Management typically includes vehicles such as trucks, cars and corporate fleets, commercial and freight aircrafts, buses and trams and also container ships. Enterprise Fleet Management includes operations such as vehicle tracking, mechanical diagnostics and also driver behavior. Furthermore, vehicle tracking and diagnostics include risk management, fuel management, telematics and accident management. Enterprise Fleet Management is predominantly used in sectors such as oil and gas, chemicals, mining, construction, retail and logistics, utilities, public and private transport, waste management and service sectors.

The market is driven by the continuous increase in the demand for logistics and transport. The determiners of the growth of the market are the fluctuating fuel costs, connectivity issues, demand to meet pollution targets and operational efficiency. With Enterprise Fleet Management, organizations can have better access to plan maintenance of vehicles, enhanced driver safety, proper routing of fleets that can all ultimately lead to effective operations of the fleet. Adding to that, vehicle connectivity and smart transportation are increasingly helping organizations to ensure safety operations of the fleets. Enterprise Fleet Management also helps in higher efficiency, consistent performances and ultimately reduced costs.

Enterprise Fleet Management Market is expected to grow at a CAGR of 22% during the forecast period.

Regional Analysis 

The regional evaluation of the fleet management market comprises of regions such as North America, Europe, APAC, and other global regions. The European and North American region are projected to influence the fleet management market owing to the strict norms on vehicle emissions and enormous innovations in the fleet management technology placement. The Asia Pacific region is likely to be the fastest developing region with amplified openings in nations such as China and India. Moreover, the large scale adoption of mobile and web-based business services in these regions has been observed as the primary driver for the market in the region.

Enterprise Fleet Management Market – Segmentation

The Global Enterprise Fleet Management Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Deployment Type: Comprises Cloud, On-Premises, and Hybrid

Segmentation by Management Type: Comprises driver management, asset management, and operation management

Segmentation by Connectivity Type: Comprises satellite navigation and cellular system

Segmentation by Services: Comprises managed services, integration and deployment services, and professional services

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

The Key Players

Fleetmatics Group PLC (U.S.), Verizon Telematics  Inc.(U.S.), Trimble Inc. (U.S), WorkWave LLC(U.S.), Zonar Systems, Inc. (U.S.), I.D. Systems, Inc. (U.S), and Cisco Systems, Inc. (U.S.).

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