North America Fleet Management Market (2023-2028)

This research study relied on extensive secondary sources, including directories and databases such as Dun & Bradstreet (D&B), Hoovers, and Bloomberg BusinessWeek, to identify and collect information useful for a technical, market-oriented, and commercial study of the fleet management market. The primary sources were mainly industry experts from core and related industries, as well as preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations across all segments of the value chain of this market. In-depth interviews were conducted with primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.

Secondary Research

The market for companies offering fleet management solutions and services across different verticals has been estimated and projected using secondary data from paid and unpaid sources, along with analysis of their product portfolios within the fleet management ecosystem. The process also involved rating company products based on performance and quality. In the secondary research process, various sources such as the International Journal of Advanced Research (IJAR), EA Journals, and the International Journal of Technology, Innovation, and Management (IJTIM) were referred to for identifying and collecting information for this study of the fleet management market. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, articles by recognized authors, directories, and databases. Secondary research was mainly used to obtain critical information about the market's supply chain, the total pool of key players, market classification, segmentation according to industry trends down to the bottommost level, regional markets, and key developments from both market- and technology-oriented perspectives, which primary sources have further validated.

Primary Research

In the primary research process, interviews were conducted with various primary sources from both the supply and demand sides to gather qualitative and quantitative information on the market. The supply-side sources included industry experts such as Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams; critical executives from fleet management solution vendors, SIs, professional service providers, and industry associations; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, revenue data from solutions and services, market breakdowns, market size estimates, market forecasts, and triangulated data. Primary research also helped understand trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users of fleet management solutions, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of fleet management solutions, which would impact the overall fleet management market.

Note: Others include sales managers, marketing managers, and product managers.

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Market Size Estimation

Multiple approaches were used to estimate and forecast the size of the fleet management market. The first approach estimates market size by summing the revenue generated by companies from the sale of fleet management offerings.

The top-down and bottom-up approaches were used to estimate and validate the total size of the fleet management market. These methods were also used to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:

• Key players in the market have been identified through extensive secondary research
• Regarding value, the industry’s supply chain and market size have been determined through primary and secondary research processes
• All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources

Fleet Management Market : Top-Down and Bottom-Up Approach

Data Triangulation

After determining the overall market size, the fleet management market was segmented into several categories and subcategories. A data triangulation procedure was used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, wherever applicable. The data was triangulated by analyzing various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated using the top-down and bottom-up approaches.