Fleet Management Market

Leading Companies in Fleet Management Industry - Geotab (Canada) and Verizon Connect (US)

The global fleet management market size is projected to grow from USD 28.6 billion in 2023 to USD 55.6 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period. The integration of telematics and IoT technologies has emerged as a pivotal factor driving the growth of the fleet management market. Fleet management has always emphasized safety, but 2024 it will be more focused. Fleets implementing cutting-edge safety systems have seen a noticeable drop in accidents and fatalities, according to the latest data from the National Highway Traffic Safety Administration (NHTSA). In addition to lowering the financial and human costs of accidents, real-time monitoring, collision avoidance technologies, and driver behavior analysis are helping to make driving safer.

Crucial and innovative vendors in the fleet management market include Geotab (Canada), Verizon Connect (US), Bridgestone Group (Japan), Trimble (US), Samsara (US), Wheels (US), Inseego (US), Solera Group (US), Verra Mobility (US), Teletrac Navman (US), Holman (US), Orbcomm (US), Mix Telematics (South Africa), Zebra Technologies (US), Motive (US), Chevin (UK), GPS Insight (US), Michelin (France), ClearpathGPS (US), Fleetcomplete (Canada), Gurtam (Lithuania), Automile (US), Via Transportation (US), Fleetroot (UAE), Ruptela (Lithuania), Freeway Fleet (UK). The market players have adopted various strategies to strengthen their fleet management market position.

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Geotab provides telematics solutions that offer advanced reporting, driver behavior management, robust engine data reporting, GPS vehicle tracking, and route optimization. With over 20 years of experience and millions of connected vehicles, the company harnesses the power of data to transform operations. For fleets of various sizes and sectors, Geotab provides a wide range of solutions, including fuel management, driver coaching, dispatching and routing, and much more. The company has a presence in North America, Europe, Asia Pacific, and Latin America.

Geotab stated that it will be working with Renault to integrate the MyGeotab fleet management platform with the telematics capabilities of its vehicles. Fleet managers can make informed decisions and offer connectivity solutions to fleets of any size thanks to this one point of access. Clients can choose from Renault models manufactured in 2010 or later, and receive a telematics system that is factory-installed or modified for field-use vehicles. Because of this, users can manage their whole fleet with first-hand, high-quality OEM data that has been combined into the robust, vendor-neutral MyGeotab platform. In twenty-one European nations, including France, Germany, Spain, Italy, the UK, and Ireland, the new telematics solution is now accessible.

Verizon Connect

Verizon Connect is a subsidiary of Verizon Communications, a leading global telecommunications company. Verizon Connect, a pioneer in connected fleet management, empowers businesses of all sizes to transform their operations. Harnessing the power of GPS tracking, telematics, and data analytics, their comprehensive solutions address key challenges such as visibility and control, driver safety and compliance, productivity and performance, tailored solutions and expertise, scalability, and security.

Verizon Connect's fleet management solutions help track vehicles in the field, improve fleet operations, increase worker productivity, and promote safe driving. With a range of customizable GPS tracking solutions that offer dashboards, reports, and alerts, fleet managers can see driver and vehicle location in near real-time, track driver behavior like speeding, idling, and harsh driving, reduce costs for vehicle maintenance and fuel consumption, and improve dispatch, routing, and visibility. Verizon Connect's solutions can help optimize fleet operations and save money.

Related Reports:

Fleet Management Market by Component (Services, Solutions (Operation Management, Vehicle Maintenance & Diagnostics, Performance Management)), Fleet Type (Commercial Fleets, Passenger Vehicles), Vertical and Region - Global Forecast to 2028

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Fleet Management Market Size,  Share & Growth Report
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