(EMAILWIRE.COM, February 27, 2022 ) Fleet Management Software Market size is estimated to reach $55.89 billion by 2026, growtin at a CAGR of 16.1% during the forecast period 2021-2026. The Fleet Management Software solution provides authentic actionable data to aid automate fleet operations. To keep vehicles and other associated features performing smoothly, a fleet management solution offers data-based insights regarding safety, vehicle tracking, operations Management, passenger cars, and others. The significant transformation in the fleet management sector owing to digitalization, platformization and data-driven business models has driven the Fleet Management Software Industry. The rising adoption of Telematics software and hardware, enables fleet operators to seek complete fleet management lifecycle, starting from asset tracking, data capture, maintenance & repair to driver safety. Moreover, the emergence of the Fleet IoT market offers optimum and seamless connectedness across various assets, vehicles as well as mobile workforce management solutions to stream smart mobility solutions. In addition to that, demand for location-based asset tracking solutions across warehouses and the overall supply chain hub are some of the factors that will drive the Fleet Management Software Market.
Fleet Management Software Market Segment Analysis – By Deployment Types
By Deployment Types, the Fleet Management Software Market is segmented into Cloud Based, On Premises and Hybrid. The Cloud based segment is analyzed to register the highest share of 54% in 2020 due to the growing demand for operational efficiencies and to manage rising fuel prices, which needs innovative monitoring systems. In March 2021, Shell Fleet Solutions UK launched a new fuel card management app for the owners of the UK limited company to manage fuel operational challenges. The Shell Fleet App provides insights such as driver fuel card expenses, and other on both on both Android and iOS platforms. Therefore, the demand for smart fuel management program, enhanced mobility of passenger cars and other respective factors are accelerating the growth of the Fleet Management Software market.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16198
Report Price: $ 4500 (Single User License)
Fleet Management Software Market Segment Analysis – By End Users
The Logistics and Transportation is analyzed to register the highest share of 56.4% in 2020 due to the growing demand of global trade activities, rapid E-commerce sectors surge and the emergence of cloud-based technologies for smart transportation. In October 2019, Indias largest luxury car manufacturer Mercedes Benz India launched a host of digital initiatives such as Mercedes me Adapter and Mercedes me connect to support the commencement of the e-commerce business across India. The augmentation of IoT solutions and developing connected networks are boosting the market growth. In September 2020, Mahindra Electric Mobility launched MESMA 48 platform for EVs, like three-wheelers, quadricycles and other light electric vehicles, which offers better acceleration than ICE counterparts. Therefore, the technological innovations, advanced cellular System and various connected networks feasibility are contributing to the growth of the Fleet Management Software Market.
Fleet Management Software Market Segment Analysis – By Geography
North America dominated the Fleet Management Software Market in 2020 with a share of 41.3%, followed by Europe owing to the significant adoption of asset tracking devices across several end-verticals. Moreover, the paradigm transformation to e-commerce from traditional retail stores has driven the demand for robust logistics support, thereby, accelerating the growth of Fleet Management Software Market. In December 2020, LocatorX, an innovative tracking technology company launched Asset Management solution, which is designed to track mobile and fixed assets from anywhere. Specifically, in the U.S and Canada, the region represents promising logistics hubs like express delivery services, truck, freight rail, air and maritime transportations, which require highly customizable technologies for fleet operation. In July 2020, Tata Motors launched Fleet Edge, a next-generation connected vehicle fleet management solution that provides real-time insights, such as fuel-efficiency, tracking, tracing and so on. Asia Pacific is estimated to witness the fastest growing market for the forecast period owing to the emerging competitive landscape, growing connected solution offerings and high demand of online shopping platforms. Hence, these market growth opportunities and performance across the telematics industry are contributing positively to the Fleet Management Software Market.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=16198
Fleet Management Software Market Drivers
Rapid growth of e-commerce
The exponential rise of omnichannel shopping sectors for easy online shopping experience has influenced the supply and logistics sectors highly to adopt advanced IoT solutions, such as alarm systems, asset trackers, critical and complex fleet management software to meet the rising demand. In June 2020, Ford Commercial Solutions launched a web-based software platform and subscription service known as Ford TelematicsTM, which offers GPS tracking and geofencing, and help commercial vehicle customers to monitor fuel usage, driver behavior and so on. The logistic industry is completely based on the transformation of products to any part of the globe and thus, any interruption can cause disruption of performance. The rising boom in e-commerce has accelerated the demand for effective operation of the logistic sector, which drives the growth of the Fleet Management Software Market. In December 2020, Rewire Security launched GPS & Telematics platform for all vehicles, which are mostly serving transportation industry. To enhance safety, visibility and sustainability in the Covid- 19 pandemic, this software is specifically designed to deliver optimum solution for fleet operated vehicles, as the companies like food and pharmaceuticals are working tirelessly to deliver products in time irrespective of the global crisis.
Rising demand of connected cars and EV-vehicles
In recent years, the demand for autonomous driving cars and Electric vehicles has grown exponentially. Hence, the rising demand of connected cars and EV-vehicles across the globe is accelerating the growth of Fleet Management Software Market to aim improved driver performance, remote fleet management access and real-time communication. More customers are inclined to buy ADAS enabled vehicles due to massive safety features, onboard connectivity and sensors and greener version of driving experience. In February 2020, Reliance Jio launched a scalable Connected Car technology at the auto expo, which offers a connected vehicle tracking system, specifically for the logistics companies and transport service providers. Therefore, the adoption of fleet management software solution owing to the several advantages are the factors that drive the growth of Fleet Management Software Market.
Fleet Management Software Market Challenges
Budget constraint for installing high-scale fleet software
To meet the growing demands in the logistic industry, the operators are trying to leverage more advanced fleet solutions like cloud based software to manage wide-area coverage for better operation management. However, the tracking and follow-up of the fleet requires top standalone application or software-as-a-service solution, which is high-priced to prevent risk of cyber security and unauthorized access to the system. These factors are considered to hinder the growth of the Fleet Management Software Industry outlook.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Fleet Management Software Market. Fleet Management Software Market top 10 companies include Geotab Inc., ZF Friedrichshafen AG, Verizon Connect, Trimble Inc., Omnitracs, LLC, GPSTrackit, Trimble Navigation Limited, Telogis, Zonar Systems and Workwave LLC and among others
Partnerships/Product Launches/Contracts
In December 2020, ZF launched telematics-based fleet management solutions for Light Commercial Vehicle. The TX-FLEXdriver app offers improved operational performance, safety, customer service levels, and also, enables operators or owners to manage all their commercial vehicles and drivers from this designed platform.
In August 2020, Zoomcar, a vehicle rental platform launched Zoomcar Mobility Stack’ (ZMS) in India, an IoT software based device that offers real-time information.
Key Takeaways
The rising boom in e-commerce has accelerated the demand for effective operation of the logistic sector, which drives the growth of the Fleet Management Software Market.
The demand for autonomous driving cars and Electric vehicles has grown exponentially, which drives the Fleet Management Software Market growth
North America dominated the Fleet Management Software Market in 2020 with a share of 41.3 %, followed by Europe owing to the significant adoption of asset tracking devices across several end-verticals.
A. Smart Fleet Management Market
https://www.industryarc.com/Research/Smart-Fleet-Management-Market-Research-503855
B. Mobile Fleet Management System For Underground Mines Market
https://www.industryarc.com/Report/18366/mobile-fleet-management-system-for-underground-mines-market-research-report-analysis.html
For more Information and Communications Technology Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
IndustryARC
Venkat Reddy
(+1) 970-236-3677
venkat@industryarc.com
Source link
