Fleet Management Software in Europe in 2024

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Top Fleet Management Software and the Benefits of Fleet Management Software

-- by Rupesh Jasud

Fleet Management Software Keeps Fleets Well-maintained and Minimizes Costs

-- by Shrikant Bolli

Frequently Asked Questions (FAQs)

What are the upcoming trends for the fleet management market?

The global fleet management market size is expected to grow from USD 15.9 billion in 2018 to USD 31.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. The growth of the fleet management market can be attributed to the rising focus of fleet owners on fleet efficiency, and cloud-based deployments of fleet management solutions. The primary factor driving the growth of fleet management market include the increasing government regulations. The other factors supporting the market growth include the decreasing hardware and software costs and the introduction of autonomous fleets.

Where the key developments in the fleet industry are implemented in the last 3 years?

Market Developments in the past 3 years are: In March 2019, Trimble announced that it introduced an enhancement to its fleet management solution, Trimble PULSE, by adding in it an intelligent telematics platform that connects, monitors, and manages assets for improved decision-making at reduced time. In February 2019, Omnitracs launched Active Mobile Gateway with Communications (AMG-C), an advanced BYOD solution that offers device pairing, flexible connection options, such as WiFi, 4G, LTE, Bluetooth, and simple management. This new launch would help drivers have more flexible solutions using the LTE connectivity while working from anywhere.

Which segment of fleet management industry provides growth opportunities?

The cloud segment to constitute a larger market size during the forecast period. By deployment type, the fleet management market is segmented into on-premises and cloud. The cloud segment is expected to grow at a higher CAGR during the forecast period, due to its cost-efficiency and hassle-free integration. Among fleet types, the passenger cars segment is expected to lead the fleet management market in terms of market size during the forecast period. Among services, the managed services segment is expected to witness a higher CAGR during the forecast period, due to the increasing focus on primary operations by major companies. These services offer technical skills that are required to maintain and update the software in the fleet management ecosystem. All pre- and post-deployment queries and needs of customers are addressed under managed services. Companies mainly outsource such services to offer customers on-time delivery. Integrated facility management, consultancy, and round-the-clock helpdesk are some upcoming managed services fleet operators require. The managed services segment is mainly driven by the increasing adoption of outsourced managed services across fleets.

Who are the leading vendors operating in the fleet management market?

The key and emerging market players in the fleet management market include ARI Fleet Management (US), Azuga (US), Chevin Fleet Solutions (Australia), Ctrack (US), Donlen Corporation (US), Geotab (Canada), GPS Insight (US), Masternaut (UK), MiX Telematics (South Africa) , Nextraq (US), Teletrac Navman (US), Trimble (US), Verizon Connect (US), Wheels, Inc (US), and Fleetroot (UAE). These players have adopted various strategies to grow in the global fleet management market.

What are the opportunities for new market entrants in fleet management industry?

Growing adoption of cloud computing and big data analytics solutions for streamlining fleet management operations. The adoption of cloud computing provides much needed benefits to fleet owners in terms of real-time fleet visibility, cost-effectiveness, improved vehicle uptime, and lower maintenance cost. On-premises fleet management solutions may not provide these advantages. Hence, fleet management vendors are increasingly leveraging cloud technologies to provide scalable solutions that cater to changing customer needs. Cloud-based solutions can be accessed from anywhere through multiple devices. It enables fleet managers and owners to easily monitor their fleets and make quicker and more informed decisions related to fleet operations. Big data analytics is among the biggest drivers in fleet management. Speed, efficiency, and reliability are the factors that determine the success of fleet business. With technology advancements and increasing digitization, organizations generate enormous amounts of data, but struggle to gain significant benefits from them. Big data analytics brings the real value of data to improve operational efficiencies and customer satisfaction at reduced costs. The rapid increase in big data applications has led to the need for developing innovative technologies to optimize cost efficiency. Thus, these factors are expected to drive the demand for new analytics platforms and new data storage centers.

How are the green fleet initiatives helping the fleet management market to grow exponentially?

Fleet operators are increasingly adopting green practices that mutually benefit the environment and enterprises’ fleet operations. The prevalent approach of implementing green technology involves scaling down vehicle weight, using lower carbon fuels, and regular maintenance of fleets, but these approaches are cost prohibitive and time consuming. As fleets’ contributions to harmful greenhouse emissions continue to rise, there is a growing need to find solutions that offer both fiscal and environmental benefits. To support the need, governments are now incentivizing fleet owners on every purchase of fuel-efficient fleets or the use of alternate fuels. The rewards can be offered as low-cost loans, tax credits, and vouchers. For instance, in May 2017, the Ministry of Energy, Dubai, launched an incentive program advocating the purchase of new zero carbon emission electric vehicles. The incentives comprise green bank loans, green insurance plans, attractive electric vehicle prices, and green registration of vehicles. According to the International Energy Agency (IEA), global sales for electric vehicles grew by 54% in 2017 with China accounting for about 50% of total sales. Though the penetration rate for electric car fleets still is less than 1%, it is expected to grow rapidly during the next decade.

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Requirements from other buyers (4)

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Lucas Sylilo's requirement

25/05/2023

"Lcs gps tracking"

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Kedrick Sintufya's requirement

25/04/2022

"I would like to have a demo version of your fleet management software"

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MOHAMED MUSTAFA's requirement

27/07/2021

"Teletrac Navman Fleet Software"

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Abhay SIngh's requirement

24/02/2021

"need to know the pricing for "FleetLocate". Also if possible, please mention the average budget of commercial telematics for vehicles."

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Fleet Management Software Growth Fleet management, a discipline of asset management, enables companies to manage the entire fleet operation, thus resulting in controlled costs, maximized profitability, improved fleet efficiency, and fleet-related risk mitigation and compliance with government regulations. The fleet management market is highly competitive due to the presence of many market players, including top-tier and mid-tier companies. The fleet management industry is gradually adopting advanced technologies, and various fleet organizations are undertaking green initiatives to reduce environmental impact and increase the overall fleet efficiency.

The global fleet management market size is expected to grow to USD 34 billion by 2025, at a CAGR of 11%. The growth of the market can be attributed to the cost benefits versus Software-as-a-Service (SaaS) and cloud-based deployments of fleet management solutions.

Growing adoption of cloud computing and analytics is driving the growth in the Fleet Management Market

This report identifies and benchmarks the best fleet management software vendors such as ARI Fleet Management (US), Azuga (US), Chevin Fleet Solutions (Australia), Inseego (US) and Donlen Corporation (US), and evaluates them on the basis of business strategy excellence and strength of product portfolio within the Fleet Management ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. Best fleet management software vendors are rated and positioned on 2x2 matrix, called ‘Company Evaluation Quadrant’, and identified as Visionary Leaders, Dynamic Differentiators, Innovators, or Emerging companies. This report also identifies and benchmarks the top fleet management solution start-ups, positioned on the 2x2 matrix, and identified as Progressive Companies, Starting Blocks, Responsive Companies, or Dynamic Companies.

The report includes market-specific company profiles of all 26 players and assesses the recent developments that shape the competitive landscape of this highly fragmented market.

This report identifies and benchmarks the best Fleet Management software vendors such as ARI Fleet Management (US), Azuga (US), Chevin Fleet Solutions (Australia), Inseego (US) and Donlen Corporation (US), and evaluates them on the basis of business strategy excellence and strength of product portfolio within the Fleet Management ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on 2x2 matrix, called as ‘Company Evaluation Quadrant’, and identified as Visionary Leaders, Dynamic Differentiators, Innovators, or Emerging companies.

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