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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Growing International Trades to Aid the Market Growth of Fleet Management
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.
Fleet Management Market Report Snapshots
Fleet Management Market Growth
*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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Key Questions Answered in the Report
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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+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