Fleet Management Market

Geotab is Leading Company in the Fleet Management Market

MarketsandMarkets forecasts the global fleet management market size to grow from USD 15.9 billion in 2018 to USD 31.5 billion by 2023, at a CAGR of 14.7% during the forecast period. Fleet management is a discipline of asset management that enables companies to manage the entire fleet operations, thus resulting in controlled costs, maximized profitability, improved fleet efficiency, and fleet-related risk mitigation.

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.

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Trimble has been providing technology solutions for over 38 years. The company markets its products in over 150 countries through a strong network of distributors, dealers, and channel partners, generating revenue from the US, Europe, Asia, and the Rest of the World (RoW). The overall revenue of Trimble increased in 2018, due to the adoption of a mix of organic and inorganic growth strategies across segments and major regions. The company acquired Veltec and ISE Viewpoint to grow its fleet management segment. Further 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. The company has witnessed a steady revenue growth because of these strategies.

Geotab is another leading company in the fleet management market. The company focuses on organic growth strategies to expand its business in the fleet management market with latest innovations and developments. It focuses on offering innovative solutions and increasing its reach across the globe. In 2017, Geotab launched a third-party telematics device to enhance the MyGeotab software. It provides the Geotab Drive app, available on Android and IOS, which can be used to connect the software with the Geotab telematics device with the help of Geotab Cloud ELD for streamlining electronic logging for trucks and carriers. Cloud ELD is now registered with the FMCSA, making it a proven and reliable solution for fleet managers and operators. The company also makes a significant investment in employee training and encourages ongoing development through company-initiated training and tuition reimbursements.

Related Reports:

Fleet Management Market by Solution (Operations Management, Vehicle Maintenance and Diagnostics, Performance Management, Fleet Analytics and Reporting), Service (Professional and Managed), Deployment Type, Fleet Type, and Region - Global Forecast to 2023

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Report Code
TC 2867
RI Published ON
4/9/2019
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