Top Players in Fleet Management Software Market are Verizon, Geotab, Trimble, GPS Insight, Omnitracs, Mix Telematics, Fleet Complete, Autotrac, NexTraq, Global Track
The Global Fleet Management Software Market is anticipated to gain impetus from the increasing focus on fleet effectiveness. According to a published report by Fortune Business Insights, the overall fleet management software market is expected to grow from USD 14,047.6 Million in 2018 to USD 46,584.7 Million by 2025 at a CAGR of 16.52% during the forecast period.
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List of Top Key Players Mentioned:
In February 2019, Omnitracs, a software company headquartered in Texas, U.S., announced the launch of MilesAhead Drive, Command, and Resolve solution. It will help in the simplification of exhaustive and daily job tasks that the fleet drivers are assigned. The drivers would be able to smoothly access detailed information about specific routes as well as view the data of associated job tasks. In April 2019, Trimble Inc., a renowned California-based developer of unmanned aerial vehicles, receivers, software processing tools, etc., declared that it has teamed up with Cobalt, an IT asset life cycle management firm based in Ohio, to offer Trimble’s fleet mobility clients with the ability to dispose of the old on board equipment in an environment-friendly manner.
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“Prominent Software Companies Focus on Strategic Collaborations to Propel the Market”
The global fleet management software market is persistently growing due to the increasing usage of electronic logging devices, an increase in cloud-based fleet management solutions, increasing demand for real-time tracking service, and government regulations.
The increase in the international trade and requirement of operational skills are currently accelerating the growth of the global fleet management software market. However, factors such as a compulsory merging of electronic logging devices and usage of wireless technology have also contributed to the market growth.
“Adoption of Technologically Advanced Software is Likely to Favor Growth in the Asia Pacific”
The global fleet management software market is divided into Latin America, Asia Pacific, North America, the Middle East and Africa, and Europe. Amongst these, North America had procured a revenue of USD 4546.3Mn in 2018. The region is projected to remain dominant in the global fleet management software market during the forecast period, especially in the cloud-based segment. This is likely to occur because of the existence of strong and renowned market players that are present across the U.S. These players have been regularly conducting research and development activities and have also been executing fleet management software tools in numerous private and public companies.
Asia Pacific, on the other hand, had obtained revenue of USD 2861.9 Mn in 2018. The region is anticipated to witness growth during the forecast period due to the investments in small and medium organizations. The investments will, in turn, increase the adoption of cloud-based fleet management software that is technologically advanced. In the Asia Pacific, developing countries like India and China are anticipated to gain a considerable portion of the global fleet management software market in the coming years.
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Major Table of Contents:
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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