The fleet management software market has seen considerable growth due to a variety of factors.
• The market size of fleet management software has shown accelerated growth in the past few years. It is projected to escalate from $24.04 billion in 2024 to $28.24 billion in 2025, with a CAGR of 17.5%.
Factors attributed to the historical growth include the increasing demand for autonomous and electric vehicles (EVs), real-time monitoring, predictive maintenance, the emergence of mobility-as-a-service (MaaS), and heightened connectivity.
The fleet management software market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the fleet management software market as it is projected to experience accelerated growth in the coming years. By 2029, the market is foreseen to reach an impressive $53.16 billion, with a compound annual growth rate (CAGR) of 17.1%.
This upward growth trend in the forecast period is anticipated to be driven by factors such as vehicle digitization, heightened cybersecurity issues, improving safety and security measures, regulatory compliance expectations, and evolving customer requirements. Upcoming trends forecasted for this period encompass global positioning systems, mobile communications, systems monitoring driver behaviour, behaviour analytics, mobile and cloud-centric fleet management solutions, advancements in artificial intelligence and machine learning, and the incorporation of IoT technologies.
The escalating rise of e-commerce operations is set to boost the expansion of the fleet management software market in the future. E-commerce operations include online purchases and sales, electronic payments, and various transaction patterns, instigating a revolution in commerce via the Internet. Growth in e-commerce operations is due to increased internet access, the ease of online shopping, and shifts in consumer preferences towards digital transactions. Fleet management software is extensively employed in e-commerce to maximize delivery procedures, improve efficiency, and guarantee accurate and prompt order delivery, therefore enhancing overall client satisfaction and propelling online retail expansion. For example, as per a February 2024 report from the U.S. Census Bureau, a branch of the United States Department of Commerce, total e-commerce sales in the US in 2023 were approximately $1,118.7 billion, a 7.6% rise from 2022. E-commerce sales in 2023 made up 15.4% of all sales, indicating an increase from 14.7% in 2022. Consequently, the speedy surge in e-commerce operations will fuel the expansion of the fleet management software market.
The fleet management software market covered in this report is segmented –
1) By Type: Operations Management, Vehicle Maintenance And Diagnostics, Performance Management, Fleet Analytics And Reporting, Other Types
2) By Deployment: On-premises, Cloud
3) By Fleet Type: Commercial, Passenger Cars
4) By End-Users: Manufacturing, Oil And Gas, Transportation And Logistics, Construction, Chemical, Energy And Utilities, Retail, Other End-Users
Subsegments:
1) By Operations Management: Route Planning And Optimization, Dispatch Management, Driver Scheduling And Monitoring
2) By Vehicle Maintenance And Diagnostics: Preventive Maintenance, Diagnostic Tools And Alerts, Maintenance Scheduling And Reporting
3) By Performance Management: Driver Behavior Monitoring, Fuel Management, Fleet Efficiency Tracking
4) By Fleet Analytics And Reporting: Real-Time Fleet Tracking, Data Analytics And Dashboards, Reporting And Compliance Management
5) By Other Types: Asset Management, Inventory Management, Fleet Safety Management
Significant businesses in the fleet management software industry are prioritizing the development of advanced tech solutions such as GPS fleet tracking and dual-facing dashcam systems to boost vehicle monitoring, streamline fleet efficiency, and bolster security and compliance measures. Comprehensive tools for fleet management are offered through GPS fleet tracking and dual-facing dashcam setups, merging real-time vehicle tracking with video documenting capabilities. For example, Bridgestone Americas, a company based in the US that specializes in the manufacturing and distribution of automotive parts, tires, and industrial goods, rolled out Azuga Fleet Management Solutions on AWS Marketplace in August 2023. This marks its primary product release since it became a part of the AWS Partner Network (APN). Fleet customers can directly access the software through their AWS accounts, enjoy straightforward billing and deployment workflows, and avail of buyer benefits. Bridgestone's decision aligns with their E8 Commitment, which includes the 'Efficiency', 'Extension', and 'Ease' values, intending to promote sound management methods and gain the confidence of the coming generations.
Major companies operating in the fleet management software market are:
• AT&T Inc.
• Intel Corporation
• International Business Machines Corporation
• Cisco Systems Inc.
• ZF Friedrichshafen AG
• Oracle Corporation
• LeasePlan Corporation N.V.
• Zebra Technologies Corporation
• Garmin Ltd.
• Trimble Inc.
• FLEETCOR Technologies Inc.
• Holman Automotive Inc.
• Element Fleet Management Corp.
• Verizon Connect
• Geotab Inc.
• TomTom Telematics BV
• Omnitracs LLC
• Samsara Inc.
• Teletrac Navman
• Orbcomm
• Emkay Inc.
• Wheels Inc.
• MiX Telematics Ltd.
• Lytx Inc.
• Magellan Navigation Inc.
• Masternaut Limited
• Fleetio
• GPS Insight
• Avrios
• Quartix Ltd
North America was the largest region in the fleet management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fleet management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.