(MENAFN- America News Hour) Fleet management softwares facilitate enterprises to track and maintain their vehicles in a cost-effective, quick, and accessible way. It includes functions such as vehicle tracking & diagnostics, financing, driver management, and others. It helps business organizations that rely greatly on transportation to lower or completely eliminate the risks associated with staff cost, operations, and others. Reduced fuel & overall running costs, enhanced safety, and optimized fleet operations, with real-time fleet tracking and monitoring are the advantages offered by fleet management.
Technology
A fleet management system comprises the integration of hardware, software, and communication technologies. It gives a platform to fleet operators to efficiently control, track, and monitor commercial vehicles. The system enhances the overall operational efficiency by reducing the non-value-added activities of the operators. Fuel cards monitor fuel management while driver safety systems are used to check driver behaviour. There are other solutions that are employed for locational tracking of vehicles, driver navigation assistance, and ensuring that the operators meet the regulatory standards set by their respective national governments.
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Market Dynamics
The significant driver for global fleet management market is an increase in demand for logistics and transport. Fleet management solutions offer numerous benefits such as improved maintenance planning, vehicle performance and schedule of fleet routing which improves the fleet safety and also customer satisfaction. Connected vehicles and smart transportations solution by various organisations are other factors that drive the market for fleet management solutions. The need to streamline operations for greater connectivity and reduce the hardware cost needed to perform the task of fleet management also act as drivers in the market. However, challenges like promoting safety, greater compliance standards, lesser integrity of data, lesser flexibility, less transparency, less follow-ups and greater efficiency expectations can turn into major obstacles if not tackled at the right time. Lack of awareness among fleet owners is another issue to be dealt with.
Market Segmentation
Global Fleet Management market is divided based on the type of solution, type of Deployment, and based on service.In terms of type of solution, Global Fleet Management market is segmented to Operation management, Asset management, and Driver management. On the basis of the type of deployment,the market is fragmented to Cloud, On-premise, and Hybrid.Based on the services offered,the Global Fleet Management market is splitinto Professional services, Integration and deployment service, and Managed services.
Geographic Analysis
Majority of the Fleet Management market is dominated by North America due to the early adoption of fleet management technologies by various organizations, majorly for commercial vehicles in this region. Advancements in technology and application deployments along with government regulations, policies, and mandates for the different applications of fleet management are projected to drive the market growth in North America. Europe and Asia pacific follow which also share a significant market due of growth of online retail.
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Key Players
Some of the major industry players include Fleetmatics, Garmin, Accenture, Masternaut, IBM Corporation, Qualcomm, Motorola Solutions, TomTom, Trimble navigation, Mixtelematics, Fleet Management, Daimler, Oracle, Toyota, CAT, Scania, JDA Software, E-Drive Technology, Garmin Ltd, Freeway Fleet Systems, Chevin Fleet, BW Fleet Management, FML World, Hegh LNG, BP Global, LeasePlan, Mercury Associates Inc, Enterprise Fleet Management, Verizon, SMH Fleet Solutions, Total Motion Vehicle Management, FMG, Mycompanyfleet, Nexfleet, Wheels Inc, Union Leasing Inc, TPC Management Company, Total Motion Ltd, TKS Tankkarten service, The Motorlease Corp, Southeastern Fleet Management, GPS Fleet Solutions, Go Fleet Canada, EMKAY Inc, BBL Fleet, and ABS National Auto Services.
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