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Fleet Management Market Trends

Report ID: GMI3598
Published Date: Jul 2024
Report Format: PDF

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Fleet Management Market Trends

Fleet management systems are witnessing significant integration of advanced technologies in telematics, the Internet of Things (IoT), and artificial intelligence. Telematics, GPS tracking, and route planning software are examples of new technologies that give real-time data on vehicle position, traffic, and fuel use. This enables fleet managers to optimize routes for faster delivery times and lower mileage, send the next available vehicle to a task, enhance response times, and discover and remove inefficiencies in driver behavior and fuel consumption. AI and machine learning are altering the way fleet data is evaluated.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of fleet management was reached USD 21.4 billion in 2023 and is estimated to register over 16% CAGR between 2024 and 2032 owing to the rise of e-commerce and last-mile delivery.

The vehicle tracking system segment in the fleet management market is expected to exceed USD 16 billion by 2032 as these products help address the essential demands of fleet management.

North America fleet management market generated USD 9.7 billion in 2023 attributed to the large presence of prominent telematics and software providers.

Wheels, Inc, Verizon Connect, Arval-Element, Donlen Corporation, ARI Fleet Management, Omnitracs, Trimble, Samsara, Geotab, and Teletrac Navman