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Global Fleet Management Market Size, Share, Growth: By Component: Services, Solution; By Deployment Type: On-Demand, On-Premise, Hybrid; By Vehicle Type: Passenger Vehicle, Commercial Vehicle; By End Use: Retail, BFSI, Energy, Government, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Fleet Management Market Outlook
The global fleet management market attained a value of USD 26.29 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 17.9% to reach USD 116.07 billion by 2032.
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The Fleet Management Industry in North America to Be Aided by the Rising Number of Warehouse Operations
North America is one of the key markets for fleet management in the historical period of 2018-2023. A significant increase in the number of warehousing operations, coupled with the earlier adoption of fleet management solutions is aiding the market in the region. Apart from North America, Europe held a significant share of the global market for fleet management. The European market is being driven by the rising investments in corporate vehicle fleets for employees. The growing vehicle leasing business is also aiding the regional market. The Asia Pacific is expected to witness a moderate growth owing to the challenges such as employee mobility maintenance and rising costs of capital and operations.
Fleet Management: Market Segmentation
Fleet management allows companies that involve transportation in business to minimise the risks of vehicle investment and provides increased efficiency. Fleet management can include various functions, such as vehicle maintenance, vehicle leasing and financing, supply chain management, accident management subrogation, licensing, and compliance, among others.
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Based on the components, the market can be classified into:
- Services
- Professional
- Managed
- Solution
- Asset Management
- Performance Management
- Safety and Compliance Management
- Risk Management
- Operations Management
- Others
By development type, the market is segmented into:
- On-Demand
- On-Purchase
- Hybrid
By vehicle type, the market is categorized into:
- Passenger Vehicle
- Commercial Vehicle
Based on end use, the market is classified into:
- Retail
- BFSI
- Energy
- Government
- Transport and Logistics
- Mining and Construction
- Pharmaceutical
- Others
The EMR report looks into the regional markets of fleet management like North America, Europe, the Asia Pacific, Latin America, and the Middle East, and Africa.
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Growing International Trades to Aid the Market Growth of Fleet Management
The growing necessity for operational competency in fleet management, coupled with the rising international trades is driving the market. The rising adoption of wireless technology and mandatory incorporation of ELD is fuelling the demand for the product. The introduction of affordable fleet management software and communication technology is expected to decrease the cost sensitivity among the local players, thereby complementing the market growth. The driver management system is gaining popularity, as it provides fuel savings, lowers maintenance costs, and better management of the vehicle and customers. Furthermore, the rising adoption of fleet management solutions among large and medium-scale fleet owners for streamlining operations is boosting the market growth. Such developments in the industry are anticipated to propel the fleet management industry in the forecast period.
Key Industry Players in the Global Fleet Management Market
The report presents a detailed analysis of the following key players in the global fleet management market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ALD Automotive Pvt Ltd
- Arval BNP Paribas Group
- LeasePlan
- Wheels, Inc.
- Volkswagen Financial Services
- Others.
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Type |
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| Breakup by Vehicle Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Fleet Management Market Analysis
8.1 Key Industry Highlights
8.2 Global Fleet Management Historical Market (2018-2023)
8.3 Global Fleet Management Market Forecast (2024-2032)
8.4 Global Fleet Management Market by Component
8.4.1 Services
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Professional
8.4.1.3.1.1 Historical Trend (2018-2023)
8.4.1.3.1.2 Forecast Trend (2024-2032)
8.4.1.3.2 Managed
8.4.1.3.2.1 Historical Trend (2018-2023)
8.4.1.3.2.2 Forecast Trend (2024-2032)
8.4.2 Solution
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Asset Management
8.4.2.3.1.1 Historical Trend (2018-2023)
8.4.2.3.1.2 Forecast Trend (2024-2032)
8.4.2.3.2 Performance Management
8.4.2.3.2.1 Historical Trend (2018-2023)
8.4.2.3.2.2 Forecast Trend (2024-2032)
8.4.2.3.3 Safety and Compliance Management
8.4.2.3.3.1 Historical Trend (2018-2023)
8.4.2.3.3.2 Forecast Trend (2024-2032)
8.4.2.3.4 Risk Management
8.4.2.3.4.1 Historical Trend (2018-2023)
8.4.2.3.4.2 Forecast Trend (2024-2032)
8.4.2.3.5 Operations Management
8.4.2.3.5.1 Historical Trend (2018-2023)
8.4.2.3.5.2 Forecast Trend (2024-2032)
8.4.2.3.6 Others
8.5 Global Fleet Management Market by Deployment Type
8.5.1 On-Demand
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 On-Premise
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Hybrid
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Fleet Management Market by Vehicle Type
8.6.1 Passenger Vehicle
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Commercial Vehicle
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Fleet Management Market by End Use
8.7.1 Retail
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 BFSI
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Energy
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Government
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Transportation and Logistics
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Mining and Construction
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Pharmaceutical
8.7.7.1 Historical Trend (2018-2023)
8.7.7.2 Forecast Trend (2024-2032)
8.7.8 Others
8.8 Global Fleet Management Market by Region
8.8.1 North America
8.8.2 Europe
8.8.3 Asia Pacific
8.8.4 Latin America
8.8.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Procurement Strategy
12.1 Sourcing Model
12.2 Engagement Strategy
12.3 Contract Model
12.4 Pricing Model
12.5 Cost Saving Opportunities
13 Cost Analysis
13.1 Labour
13.2 Materials
13.3 Plant/Facility
13.4 Production
13.5 Assembly
13.6 Design/R&D/Engineering
13.7 Disposal
13.8 Others
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 ALD Automotive Pvt Ltd
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Arval BNP Paribas Group
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 LeasePlan
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Wheels, Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Volkswagen Financial Services
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fleet Management Market: Key Industry Highlights, 2018 and 2032
2. Global Fleet Management Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Fleet Management Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Fleet Management Historical Market: Breakup by Deployment Type (USD Billion), 2018-2023
5. Global Fleet Management Market Forecast: Breakup by Deployment Type (USD Billion), 2024-2032
6. Global Fleet Management Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7. Global Fleet Management Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8. Global Fleet Management Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Fleet Management Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Fleet Management Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Fleet Management Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Fleet Management Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Fleet Management Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Fleet Management Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Fleet Management Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Fleet Management Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Fleet Management Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Fleet Management Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Fleet Management Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Fleet Management Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Fleet Management Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Fleet Management Market Structure
Key Questions Answered in the Report
In 2023, the global fleet management market reached a value of USD 26.29 billion.
During the forecast period of 2024-2032, the market is projected to grow at a CAGR of 17.9%.
By 2032, the market is expected to attain a value of USD 116.07 billion.
The major market drivers include increasing international trade, rising disposable incomes, growing adoption of fleet management solutions by large and medium-scale fleet owners, and rapid urbanisation.
The key trends guiding the market growth include the growing adoption of wireless technologies and innovative solutions to optimise fleet management and the introduction of affordable fleet management solutions.
The major regional markets for fleet management are North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The major deployment types considered in the market report include on-purchase, on-demand, and hybrid.
The various end uses of fleet management include retail, BFSI, energy, government, transportation and logistics, mining and construction, and pharmaceutical, among others.
The significant vehicle types in the market are passenger vehicle and commercial vehicle.
The major components in the market are services and solutions.
The key players in the market are ALD Automotive Pvt Ltd, Arval BNP Paribas Group, LeasePlan, Wheels, Inc., and Volkswagen Financial Services, among others.
Analyst Review
The global fleet management market attained a value of USD 26.29 billion in 2023, driven by the increasing international trades. Aided by the rising competency, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 17.9%. The market is projected to reach USD 116.07 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of components, the market can be segmented into services and solutions. Based on development type, the market is divided into on-demand, on-purchase, and hybrid. By vehicle type, the market is classified into passenger vehicles and commercial vehicles. On the basis of end use, the market is divided into retail, BFSI, energy, government, transport and logistics, mining and construction, and pharmaceutical, among others. The major regional markets for fleet management are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ALD Automotive Pvt Ltd, Arval BNP Paribas Group, LeasePlan, Wheels, Inc., and Volkswagen Financial Services, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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