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IT & Telecom Icon

Fleet Management System (FMS) Market – Trends Forecast Till 2030

Fleet Management System (FMS) Market, by Fleet Type (Passenger Cars, Commercial Fleets), By Offerings (Solutions, Services), Vehicle Type (Internal Combustion Engines and Electric Vehicle), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

  • Published Date : October 2023
  • Base Year Estimate : 2022
  • Report ID : D-IT-FMM-242
  • Format :
  • Number of Pages : 590
  • Domain : IT & Telecom
  1. IT & Telecom
  2. Fleet Management System (FMS) Market – Trends Forecast Till 2030
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REPORT SYNOPSIS
Market Snapshot Market Overview Delvens Industry Expert's Standpoint Market Portfolio Key Findings Regional Analysis Competitive Landscape Recent Developments Reasons to Acquire Report Scope
Table Of Content Frequently Asked Questions

Market Snapshot

Market Overview

The Fleet Management System (FMS) market size was estimated at USD 30.58 billion in 2023 and is projected to reach USD 60.58 billion in 2030 at a CAGR of 10.26% during the forecast period 2023-2030.

A Fleet Management System (FMS) is a complete tool created to help businesses manage and optimize their fleets of vehicles. This technology includes a variety of tools and features that let organizations keep an eye on, track, and manage numerous areas of their fleet operations, such as the whereabouts of their vehicles, maintenance schedules, fuel usage, driver conduct, and overall effectiveness. The efficiency of fleet management procedures, improvement of safety, decrease in operating expenses, and eventually increase in productivity of fleet-based operations are all made possible by FMS.

Several important factors are supporting the market expansion for fleet management systems. First of all, businesses from a variety of sectors have adopted FMS solutions due to the growing demand for operational efficiency and cost reduction in fleet management. These technologies provide organizations the ability to optimize routes, reduce idle time, and improve fuel economy through real-time insights into vehicle use. Additionally, the inclusion of elements like driver performance monitoring has been prompted by the rising importance placed on ensuring that enterprises comply with legislation and promote safe driving habits.

On the other hand, lower efficiency in connectivity and improper guidance for enabling the route might hamper the growth of the market during the forecast period.

The COVID-19 epidemic has had a significant detrimental influence on the fleet management systems market due to lockdown regulations and rules at manufacturing facilities. However, since the pandemic, the market has grown thanks to the growing use of fleet management in the aviation industry. Additionally, since the market opened with COVID-19, development has been rapid, and it is anticipated that the industry will experience significant expansion.

Delvens Industry Expert's Standpoint

The Fleet Management Systems (FMS) Market is expected to grow during the forecast period. This growth can be attributed to several factors. Firstly, businesses from a variety of sectors have adopted FMS solutions due to the growing demand for operational efficiency and cost reduction in fleet management. Moreover, the inclusion of elements like driver performance monitoring has been prompted by the rising importance placed on ensuring that enterprises comply with legislation and promote safe driving habits. However, due to lower efficiency in connectivity and improper guidance for enabling the route, the market’s growth might get hampered during the forecast period.

Market Portfolio

Key Findings

  • Based on fleet type, the market is segmented into passenger cars and commercial fleets. The commercial fleets dominated the market in this segment. This can be attributed to the fact that commercial fleets are larger and more complex than passenger cars.
     
  • Based on offerings, the market is segmented into solutions and services. Fleet Management Systems solutions dominated the market in this segment. Fleet management solutions typically include features such as fleet tracking, geofencing, routing and scheduling, driver behaviour monitoring, vehicle maintenance and diagnostics, and fleet analytics and reporting.
     
  • Based on vehicle type, the market is segmented into Internal Combustion Engines and Electric Vehicle. Internal Combustion engine vehicles dominated the market in this segment. This can be attributed to the fact that ICE vehicles are the most common type of vehicles on the road, and they account for the majority of the fleet management systems market.
     
  • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period due to the expanding use of fleet management drive control systems in the aerospace and marine industries. Moreover, due to the presence of several enormous market participants in the fleet management industry, the U.S. is a dominant nation within the region.

Regional Analysis

North America to Dominate the Market

  • North America is estimated to account for the largest market share during the forecast period due to the expanding use of fleet management drive control systems in the aerospace and marine industries.
  • Moreover, the presence of several major key players within the region is expected to drive the growth of the market further during the forecast period.

 

Competitive Landscape

  • ALD Automotive
  • Avrios
  • BERGSTROM AUTOMOTIVE
  • Capital Lease Group
  • Chevin Fleet Solutions
  • Deutsche Leasing AG
  • Donlen LeasePlan
  • Element Fleet Management Corp.
  • Emkay
  • Enterprise Holdings
  • Fleetcare Pty Ltd.
  • FleetCompany GmbH
  • Motive Technologies, Inc.
  • OviDrive B.V.
  • Rarestep, Inc.
  • Sixt Leasing (Acquired by Hyundai Capital Bank Europe GmbH)
  • TRAXALL
  • TÜV SÜD
  • VEL’CO
  • Wilmar Inc.