MarketsandMarkets forecasts the global fleet management Market size is expected to grow USD 25.5 billion in 2022 to USD 52.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.5% during the forecast period.
The major vendors covered in the fleet management market are Geotab (Canada), Verizon Connect (US), Donlen (US), Inseego (San Diego), Teletrac Navman (US), Holman (US), Azuga (US), Chevin (England), GPS Insight (US), Masternaut (England), Orbcomm (US), Trimble (US), Omnitracs (US), MiX Telematics (South Africa), TomTom (Amsterdam), Zonar Systems (US), Zebra Technologies (US), Motive (Australia), Samsara (US), Fleet Complete (Canada), ClearPathGPS (US), Titan GPS (Canada), Gurtam (Belarus), Automile (US), Fleetonomy (Israel), Avrios (Switzerland), Fleetio (US), Fleetroot (UAE), Freeway Fleet (UK), and Ruptela (Lithuania).
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These players have implemented various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to develop their presence in the fleet management market. The most widely used strategies by businesses have been partnerships and new product launches which helped them transform their offerings and widen their customer base.
Geotab specializes in providing telematics solutions that offer features, such as advanced reporting, driver behavior management, robust engine data reporting, GPS vehicle tracking, and route optimization. The company provides customized solutions to customers, such as in-vehicle cameras, real-time temperature tracking, tire pressure monitoring with the help of business intelligence, and benchmarking data to increase productivity, reduce fuel consumption, improve driver safety, and strengthen compliance. The company has its offices in North America, Europe, APAC, and Latin America. Geotab launched Geotab G08 as an upgrade to the previous G07 fleet management telematics device. Geotab GO8 is a vehicle tracking device with easy-to-install and efficient operating capabilities, fast acquisition time, and high-quality value information recording. It has advanced features, such as accident detection and notification and in-vehicle reverse collision detection. MyGeotab fleet management software provides solutions to a fleet of all size, with customizable fleet solutions through MyGeotab Software Development Toolkits (SDKs). Geotab also offers GPS fleet management solutions that provide productivity, driver safety, fleet optimization, and compliance to enhance the fleets with high-performance technology.
Verizon Connect is the subsidiary of Verizon Communications, which is a globally leading telecommunications company. The company was designed by merging its three telematics platforms, namely, Networkfleet, Fleetmatics, and Telogis, in 2016 and rebranded as Verizon Connect in 2018. The company is well known as a leading provider of built-in telematics and mobile application software for commercial fleets and workers. Verizon Connect focuses in providing fleet and mobile workforce management solutions and services through various software platforms and embedded OEM hardware based on innovation, automation, and connected data. Verizon Connect delivers its solutions through various software dedicated to fleet management operations, such as driver management and safety, route optimization, and commercial navigation. These software applications, formerly known as Fleetmatics REVEAL and Fleetmatics WORK, are designed to provide efficiency and productivity to their customers. It also has various service offerings that include big data services for fleet data and analytics, and enterprise services, catering to large fleets.
Fleet Management Market by Solution (Operations Management, Vehicle Maintenance and Diagnostics, Performance Management, Fleet Analytics and Reporting), Service, Deployment Type, Fleet Type, Vertical and Region - Global Forecast to 2027
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