Base Year
Historical Year
Forecast Year
The global fleet management market attained a value of USD 26.29 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 14.3% to reach USD 116.07 billion by 2032.
| Global Fleet Management Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 26.29 |
| Market Size 2032 | USD Billion | 116.07 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 14.3% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 16.5% |
| CAGR 2024-2032 - Market by Country | India | 18.9% |
| CAGR 2024-2032 - Market by Country | China | 15.8% |
| CAGR 2024-2032 - Market by Component | Solution | 15.6% |
| CAGR 2024-2032 - Market by End Use | Transportation and Logistics | 16.3% |
| Market Share by Country 2023 | UK | 3.5% |
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North America is one of the key markets for fleet management in the historical period of 2018-2023. A significant increase in the number of warehousing operations, coupled with the earlier adoption of fleet management solutions is aiding the market in the region. Apart from North America, Europe held a significant share of the global market for fleet management. The European market is being driven by the rising investments in corporate vehicle fleets for employees. The growing vehicle leasing business is also aiding the regional market. The Asia Pacific is expected to witness a moderate growth owing to the challenges such as employee mobility maintenance and rising costs of capital and operations.
Fleet management allows companies that involve transportation in business to minimise the risks of vehicle investment and provides increased efficiency. Fleet management can include various functions, such as vehicle maintenance, vehicle leasing and financing, supply chain management, accident management subrogation, licensing, and compliance, among others.
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Based on the components, the market can be classified into:
By development type, the market is segmented into:
By vehicle type, the market is categorized into:
Based on end use, the market is classified into:
The EMR report looks into the regional markets of fleet management like North America, Europe, the Asia Pacific, Latin America, and the Middle East, and Africa.
| CAGR 2024-2032 - Market by | Country |
| India | 18.9% |
| China | 15.8% |
| UK | 13.1% |
| USA | 12.8% |
| Germany | 11.8% |
| Canada | XX% |
| France | XX% |
| Italy | XX% |
| Japan | 9.9% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
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The growing necessity for operational competency in fleet management, coupled with the rising international trades is driving the market. The rising adoption of wireless technology and mandatory incorporation of ELD is fuelling the demand for the product. The introduction of affordable fleet management software and communication technology is expected to decrease the cost sensitivity among the local players, thereby complementing the market growth. The driver management system is gaining popularity, as it provides fuel savings, lowers maintenance costs, and better management of the vehicle and customers. Furthermore, the rising adoption of fleet management solutions among large and medium-scale fleet owners for streamlining operations is boosting the market growth. Such developments in the industry are anticipated to propel the fleet management industry in the forecast period.
The report presents a detailed analysis of the following key players in the global fleet management market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Type |
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| Breakup by Vehicle Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global fleet management market reached a value of USD 26.29 billion.
During the forecast period of 2024-2032, the market is projected to grow at a CAGR of 14.3%.
By 2032, the market is expected to attain a value of USD 116.07 billion.
The major market drivers include increasing international trade, rising disposable incomes, growing adoption of fleet management solutions by large and medium-scale fleet owners, and rapid urbanisation.
The key trends guiding the market growth include the growing adoption of wireless technologies and innovative solutions to optimise fleet management and the introduction of affordable fleet management solutions.
The major regional markets for fleet management are North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The major deployment types considered in the market report include on-purchase, on-demand, and hybrid.
The various end uses of fleet management include retail, BFSI, energy, government, transportation and logistics, mining and construction, and pharmaceutical, among others.
The significant vehicle types in the market are passenger vehicle and commercial vehicle.
The major components in the market are services and solutions.
The key players in the market are ALD Automotive Pvt Ltd, Arval BNP Paribas Group, LeasePlan, Wheels, Inc., and Volkswagen Financial Services, among others.
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Vietnam
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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