According to a new report published by Reports Monitor titled, “fleet Management System Market by type, and by Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the fleet management system market is projected to grow rapidly from 2017 to 2025. North America is anticipated to dominate the fleet management system market, both in terms of revenue, and is expected to maintain this trend throughout the forecast period.
Fleet Management System is the third generation of technology started with basic, automated vehicle location before entering into GPS fleet management. FMS solutions support smooth and continuous integration with vehicle operating diagnostics, third-party dispatch, driver monitoring for legalization compliance, back-end systems and companies core business processes. The service uses a combination of telematics devices, network & software tools, and navigation systems to provide efficient tracking and reporting structure for fleet owners.
The requirement for operational competency in fleet management, insistence on centralizing fleet operations, and declining cost of hardware & software are majorly driving the market to grow in coming years. In addition, the compulsion of ELD deployment, raising safety concerns in the fleet market, important government regulation, increased adoption of wireless technology due to dropping prices and access to greater connectivity boosting the market for further growth. Nevertheless, inclining operational cost and lack of awareness among small fleet vendors might hamper the growth of the market.
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The fleet market provides lucrative opportunities to other fields including growth in international trades for goods and services, establishment and development of big data and cloud services, vehicle replacement market, and green fleet activities to reduce the impact on the environment and ensure effective functioning of a fleet.
Operational Fleet Monitoring and Management segment is expected to hold the massive share of the market. This segment is expected to be followed by vehicle management solutions in terms of market share. In terms of application logistic fleet segment is anticipated to bloom the market.
Key Finding and Scope:
• Regionally, North America is estimated to witness lucrative growth for the forecast period.
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Key players profiled in the market are AssetWorks LLC, CalAmp Corp., Daimler Fleetboard GmbH, Emkay, FleetCor Technologies, Inc., Omnitracs, LLC, Scania AB, Telenav, Inc., Teletrac Navman US Ltd, TomTom International N.V., Trimble Inc. and Fleetmatics Group PLC.
The report has been categorized in two distinctive sections, where the first category titled as Market Overview provides a holistic view of the market, key trends, drivers, challenges/restraints or opportunities with their current and expected impact on the overall industry sales.
Our analysts implement several qualitative tools such as Ansoff’s Matrix, PESTEL analysis, Porter’s five force analysis among other to interpret and represent key industry findings.
The second section of the study provides market size, estimates, and forecast for key market segments and regional market. The final part of the report highlights key manufacturers/vendors operating in the associated market.
2.3.Assumptions & Exclusions
3.1.Research Report Segmentation & Scope
3.2.Key Market Trend Analysis
3.3.Porter’s Five Forces Analysis
3.4.Potential Venture Avenues
3.5.Market Share Analysis, 2016
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