DUBLIN–(BUSINESS WIRE)–The “Fleet Management Systems – Global Strategic Business Report” has been added to ResearchAndMarkets. The global market for Fleet Management Systems estimated at US$24.6 Billion in the year 2023, is projected to reach a revised size of US$71.7 Billion by 2030, growing at a CAGR of 14.3% over the analysis period 2023-2030.
Fleet management systems play a pivotal role in optimizing the operations of vehicle fleets, offering core functionalities such as tracking, maintenance scheduling, and route optimization. The merits of these systems are compelling, ranging from enhanced efficiency and productivity to cost savings and improved safety. In the competitive landscape, key competitors’ market share percentages and overall market presence in 2023 are outlined. Recent market activity indicates ongoing developments in this sector.
Fleet Management Solutions, one of the segments analyzed in the report, is projected to record a 13.6% CAGR. Moreover, it is expected to reach US$43.9 Billion by the end of the analysis period. Growth in the Fleet Management Services segment is estimated at 15.5% CAGR for the next 8-year period.
With the rise of electric vehicles (EVs) in shared mobility and logistics, there’s a growing demand for EV fleet management systems. As the electric mobility market expands, fleet operators seek solutions to capitalize on cleaner fleets, reduce costs, and boost profits. Furthermore, this is reflected in the projected growth of the global electric mobility services market through 2030.
The U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 18.4% CAGR
The Fleet Management Systems market in the U.S. is estimated at US$7.5 Billion in the year 2023. China, the world’s second-largest economy, is forecast to reach a projected market size of US$13.6 billion by the year 2030. Moreover, this growth is trailing a compound annual growth rate (CAGR) of 18.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.5% and 12.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR.
