Market Research Reports Previews Fleet Management Market- a Lucrative Business buzz

Fleet Management Market- a Lucrative Business buzz- $30.45 Billion By 2018

MarketsandMarkets recently conducted a study on the "Fleet Management Market (Fleet
Analytics; Vehicle Tracking & Fleet Monitoring; Telematics; Vendor Services) By Vehicles
(Trucks; Light Goods; Buses; Corporate Fleets; Container Ships; Aircrafts) Worldwide
Market Forecasts and Analysis (2013 – 2018)", which analyzed and studied the major market
drivers, restraints, and opportunities in North America, Asia-Pacific, Europe, Latin America, and
Middle East and Africa. The study observes that the fleet management market is expected to
grow from $10.91 billion in 2013 to $30.45 billion by 2018, at a Compound Annual Growth Rate
(CAGR) of 22.8% from 2013 to 2018.
Browse 102 market data tables and 42 figures spread through 211 pages and in-depth TOC on
“Fleet Management Market (Fleet Analytics; Vehicle Tracking & Fleet Monitoring;
Telematics; Vendor Services) By Vehicles (Trucks; Light Goods; Buses; Corporate Fleets;
Container Ships; Aircrafts) Worldwide Market Forecasts and Analysis (2013 – 2018)”.

http://www.marketsandmarkets.com/Market-Reports/fleet-management-systems-market-1020.html

Fleet management is about smartening the fleet vehicles operations. Intelligent fleet management
solutions based on technologies such as Global Positioning system (GPS)-based telematics are
helping fleet operators to enhance operational efficiencies in terms of improving vehicle
performance and mileage, enhancing operational reliability and safety, maintenance planning,
driver control, and optimizing navigation and routes. The growing competitiveness among the
transportation service providers, CO2 emission control norms, and rising fuel prices are making
the Fleet Management System (FMS) an essential component for the business operation of the
fleet vehicle operators.
The number of vehicles is increasing globally with a major boom in the emerging economies;
this has a positive impact on the fleet management industry. Asia-Pacific is expected to exhibit
the highest growth rate in the fleet management market revenue out of the various regional
markets. There are also government endeavors to mandate the incorporation of GPS tracking
features in all the new vehicles to be sold and operated in their specific regions, which clearly
shows the opportunities for fleet management business growth. Organizations from public
transport, service sectors, logistics, and retail industries are expected to bring huge business
opportunities for the fleet management vendors.
The key strategies followed by many of the leading companies in the fleet management market
are new technology, customized solution, and acquiring relatively small domain expert players.
Some of the major players in this market are Accenture, Motorola Solutions, TomTom,
Qualcomm, Masternaut, Trimble Navigation Ltd., Garmin International, Fleetmatics, Pointer
Telocation Ltd, Verizon Networkfleet, among others.