Fleet Management Market Worth $35.35 Billion by 2019

According to a new market research report the global fleet management market is expected to grow from $12.06 Billion in 2014 to $35.35 Billion by 2019, at an Compound Annual Growth Rate (CAGR) of 24.0% from 2014 to 2019.

Produced by MarketsandMarkets, the company describes fleet management as a way of “smartening the fleet vehicles operations.”

Today, the industry includes intelligent fleet management solutions, based on technologies such as Global Positioning system (GPS)-based telematics which 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 group also notes that “the growing competitiveness among the transportation service providers, CO2emission 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.”

Category: General Update