ENT Need for Real-Time Data Tracking for Vehicle Management to Push Fleet Management Market Past US$ 239 Mn by 2032 - Seite 2

CAGR 17.4%

Key Takeaways:

• By type, operations management segment is estimated to record growth at a CAGR of 23% between 2022 and 2032.
• Based on deployment, the cloud segment is expected to hold a maximum share in the market, registering growth at 23% CAGR.
• China fleet management market is expected to surpass a market valuation of US$ 38.4 Mn by 2032.
• The U.S. fleet management market is projected to reach US$ 70.4 Mn, registering a CAGR of 18.2% during the forecast period.
• Sales of fleet management solutions in India are expected to increase at over 17.3% CAGR between 2022 and 2032

Growth Drivers:

• · Increased adoption of internet of things (IoT), artificial intelligence, and cloud computing for operational efficiency of vehicles will boost the market.
• · Surging use of remote sensing capabilities in oil and gas, transportation, and construction sectors is projected to propel the demand for fleet management.

Restraints:

• Rising operational costs and maintenance charges of fleet management solutions are projected to hinder the growth in the market.
• Increasing number of data breach, cyber threat, and GPS connectivity issues are likely to limit the growth in fleet management market.

To Gain In-Depth Insights on Fleet Management Market, Request Methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=7202

Competitive Landscape:

Key players operating in the global fleet management market are integrating advanced technologies such as cloud based and big data analytics to gain competitive edge.

Some of the manufacturers are expanding their consumer base by updating their production capabilities and product line.

For instance,

• June 2021: dtac Business entered into a partnership with Cartrack Technology to commercialize premium fleet management solutions to small and medium enterprises in Thailand. It also plans to use Cartrack's advanced artificial intelligence (AI) technology to reduce operation cost, lower fuel consumption, and create driving zones.

• June 2021: Goodyear partnered with ZF to integrate advanced Transics-branded, Fleet Management Solutions (FMS) of ZF and high performing tyre portfolio and mobility solutions for commercial vehicles throughout Europe.

Key Companies Profiled by Fact.MR