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Fleet Management Market worth $55.6 billion by 2028 – Exclusive Report by MarketsandMarkets™

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Innovations in telematics, IoT, and AI will propel the Fleet Management Market in the future, bringing with them integration with mobility services, predictive analytics, and a sustainability-focused approach. Regulation adherence, cybersecurity, and personalisation will influence developing business models that prioritise data-driven judgement and effective fleet management.

CHICAGO, Feb. 13, 2024 /PRNewswire/ — The Fleet Management Market is expected to reach USD 55.6 billion by 2028 from USD 28.6 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 14.2% during 2023–2028, according to a new report by MarketsandMarkets™. The fleet management industry is driven primarily by the increasing prevalence of automation technology. Companies are progressively incorporating automation into a broader range of operational aspects, particularly fleet management systems for maintenance reminders, dispatching, and route planning. Human resources are freed up by this adoption to concentrate on more strategically important work. The sector is seeing a transition towards automated processes, and automated fleet management jobs’ increased efficiency, lower operating overhead, and better decision-making capabilities are significant factors driving the market’s expansion.

 

Browse in-depth TOC on “Fleet Management Market”

394 – Tables
42 – Figures
324 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2018-2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Billion)

Segments Covered

By component (solution(operations management, vehicle maintenance and diagnostics, performance management, fleet analytics and reporting, compliance management, other solutions), services (professional services, managed services)), by fleet type (commercial fleets, passenger vehicles) vertical  (retail, transportation & logistics, healthcare & pharmaceuticals, construction, utilities, oil, gas and mining, government, other verticals) and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Geotab (Canada), Verizon Connect (US), Bridgestone Group (Japan), Trimble (US), Samsara (US), Wheels (US), Inseego (US), Solera Group (US), Verra Mobility (US), Teletrac Navman (US), Holman (US), Orbcomm (US), Mix Telematics (South Africa), Zebra Technologies (US), Motive (US), Chevin (UK), GPS Insight (US), Michelin (France), ClearpathGPS (US), Fleetcomplete (Canada), Gurtam (Belarus), Automile (US), VIA (Israel), Fleetroot (UAE), Ruptela (Lithuania), Freeway Fleet (UK).

 

By vertical, the transportation & logistics segment to hold the largest market size during the forecast period.

The escalating fuel costs have become a pivotal factor driving the adoption of advanced fleet management technologies to optimize fuel efficiency. Fleet managers increasingly invest in sophisticated route optimization systems that leverage real-time traffic data, historical route information, and predictive analytics to identify the most fuel-efficient vehicle paths. These systems consider traffic congestion, road conditions, and elevation changes to minimize fuel consumption. Moreover, integrating eco-driving technologies plays a crucial role in this scenario. These technologies, often facilitated by telematics and onboard sensors, provide real-time feedback to drivers on their driving behavior, encouraging fuel-efficient practices such as smooth acceleration, deceleration, and optimal speed maintenance. The synergy of route optimization and eco-driving not only reduces fuel consumption but also contributes to lower emissions, aligning with environmental sustainability goals. This technological approach not only addresses the immediate cost concerns associated with fuel but also positions fleet management systems as indispensable tools for achieving operational efficiency and environmental responsibility in the logistics and transportation sector.

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By solution, the performance management segment is expected to hold a higher growth rate during the forecast period.

Solutions for scalable performance management are essential for tackling the changing problems expanding fleets encounter. As fleets expand and undergo operational changes, these solutions provide a level of flexibility and adaptability that is crucial for seamless integration into evolving business operations. The scalability feature allows fleet managers to effortlessly accommodate an increasing number of vehicles, diverse assets, and a growing workforce. Whether expanding to new geographic locations, adjusting to fluctuating demand, or incorporating additional functionalities, scalable solutions ensure that the performance management system can readily grow alongside the fleet. This adaptability not only future-proofs the investment in technology but also facilitates a smooth transition during periods of change, ultimately contributing to sustained operational efficiency and optimized fleet performance in the face of evolving business landscapes.

Asia Pacific is expected to hold a higher growth rate during the forecast period.

Governments in Asian cities with high population densities invest heavily in sophisticated traffic control systems to deal with traffic bottlenecks and guarantee efficient traffic flow. In this urban setting, fleet management is essential since it increases the overall effectiveness of traffic control systems. Fleet management systems reduce traffic congestion and increase traffic flow by optimizing routes, minimizing idle times, and improving vehicle coordination via real-time data and analytics. Additionally, effective fleet management systems have become essential in the larger framework of commerce and cross-border transportation in the Asia Pacific area. They are critical to maintaining adherence to customs laws, enabling smooth logistical processes, and raising the general effectiveness of supply networks that span international borders. In these instances, the use of fleet management systems not only improves operational efficiency but also supports the larger regional objectives of trade facilitation and economic connection.

Top Key Companies in Fleet Management Market:

The major vendors covered in the Fleet Management Market are Geotab (Canada), Verizon Connect (US), Bridgestone Group (Japan), Trimble (US), Samsara (US), Wheels (US), Inseego (US), Solera Group (US), Verra Mobility (US), Teletrac Navman (US), Holman (US), Orbcomm (US), Mix Telematics (South Africa), Zebra Technologies (US), Motive (US), Chevin (UK), GPS Insight (US), Michelin (France), ClearpathGPS (US), Fleetcomplete (Canada), Gurtam (Belarus), Automile (US), VIA (Israel), Fleetroot (UAE), Ruptela (Lithuania), Freeway Fleet (UK).

These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Fleet Management Market.

Recent Developments

In January 2024, MoveEV, an AI-powered EV transition platform, partnered with Geotab. The collaboration integrates MoveEV’s flagship product, ReimburseEV, into the Geotab Marketplace, marking a significant step in advancing sustainable fleet management.In September 2023, Trimble partnered with transportation solution provider Next Generation Logistics to make its Engage Lane solution available to their base of shippers through the Transportation Cloud.In December 2022, Donlen and LeasePlan partnered to enhance the offering of fleet management and mobility solutions in the North American fleet market.In August 2021, Bridgestone acquired Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform from Sumeru Equity Partners, Danlaw, Inc., and other shareholders. The acquisition accelerates Bridgestone’s efforts to develop and deploy a comprehensive fleet management solution as a central pillar of the company’s advanced mobility strategy.

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Fleet Management Market Advantages:

Fleet management solutions reduce operating costs and boost operational efficiency by optimising fuel use, vehicle maintenance, and route planning.

Fleet safety is increased overall when drivers behave better, have fewer accidents, and follow safety procedures thanks to real-time surveillance and monitoring features.

Fleet owners have lower operating costs and more profitability as a result of effective resource allocation, scheduled preventive maintenance, and fuel management.

With the monitoring of vehicle usage, idle time, and downtime, fleet management systems maximise fleet productivity through asset utilisation optimisation.

By keeping an eye on driver hours, vehicle emissions, and compliance with transportation laws, fleet management systems assist in ensuring regulatory compliance.

Better customer service is made possible by increased fleet operations visibility and transparency, which includes precise delivery tracking and prompt notifications.

Fleet management solutions use data analytics to deliver actionable insights that support wise decision-making and ongoing fleet operation improvement.

Fleet management solutions ensure flexibility and support for future growth by being scalable and adaptable to the needs of fleets of all sizes, from small businesses to huge corporations.

Report Objectives

To determine, segment, and forecast the Fleet Management Market by component, fleet type, vertical, and region in terms of valueTo forecast the size of the market segments concerning 5 main areas: North America, Europe, Asia Pacific, Middle East Africa, and Latin AmericaTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo study the complete value chain and related industry segments and perform a value chain analysis of the market landscapeTo strategically analyze the macro and micro-markets concerning individual growth trends, prospects, and contributions to the total marketTo analyze the industry trends, pricing data, patents, and innovations related to the marketTo analyze the opportunities for stakeholders by identifying the high-growth segments of the marketTo profile the key players in the market and comprehensively analyze their market share/ranking and core competenciesTo track and analyze competitive developments, such as mergers and acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and R&D activities

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DKSH Healthcare and Euris Unveil CRM & MCE Platform “ConnectPlus” to Revolutionize APAC Healthcare Distribution

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DKSH Healthcare and Euris have launched “ConnectPlus”, a complete Customer Relationship Management (CRM) and Multi-Channel Engagement (MCE) platform set to transform healthcare distribution across APAC. This data-driven, agile solution enhances efficiency by providing a comprehensive view of healthcare professionals and optimizing omnichannel engagement strategies. From January 2025, ConnectPlus will strengthen DKSH Healthcare’s commitment to commercial excellence by boosting engagement with clients, customers, and patients across the healthcare ecosystem in Thailand.

SINGAPORE, Nov. 13, 2024 /PRNewswire/ — DKSH Healthcare Business Unit, in partnership with Euris, is introducing ConnectPlus, a data-driven Customer Relationship Management (CRM) and Multi-Channel Engagement (MCE) platform aimed at transforming healthcare distribution across the Asia Pacific region. Designed to enhance productivity and operational efficiency, this platform provides a 360° view of healthcare professionals, streamlines MCE, and strengthens DKSH Healthcare’s ability to tailor interactions and marketing strategies. The roll-out will start in Thailand in January 2025. With this new platform DKSH Healthcare reinforces its dedication to commercial excellence by enlarging possibilities and improving interactions with clients, customers, and patients.

Bijay Singh, Head of Business Unit Healthcare at DKSH, emphasized the transformative potential of ConnectPlus, “With ConnectPlus, we are not just improving our operations, we are setting a new benchmark for healthcare distribution across Asia Pacific. By integrating technology with our deep market expertise, DKSH Healthcare is enhancing its role as a strategic healthcare partner. This platform will not only empower our teams to engage more effectively with healthcare professionals but will ultimately contribute to better health outcomes by improving patients’ access to quality care. ConnectPlus represents a pivotal step in our journey toward data-driven excellence and reinforces our commitment to leading with agility in an evolving healthcare landscape.”

The introduction of ConnectPlus underscores DKSH Healthcare’s commitment to harnessing digital solutions that orchestrate and maximize impact of both client and patient interactions, while upholding a high standard of operational excellence. ConnectPlus empowers DKSH to tap into the vast potential provided by the global healthcare big data market[1] by delivering precise, targeted engagement strategies that cater to the unique needs of healthcare professionals, clients, and patients across the region.

Furthermore, ConnectPlus is strategically designed to leverage the existing preference of face-to-face sales visits[2], by orchestrating personalized digital touchpoints, based on data driven insights, to prepare and enhance in-person interactions. The platform’s ability to blend in-person and digital strategies is essential for maximizing outreach and driving meaningful engagement[3].

By integrating advanced AI and analytics, ConnectPlus not only streamlines communication and marketing efforts but also personalizes interactions based on real-time data, ensuring relevance and impact. This marks a crucial milestone in DKSH Healthcare’s journey towards fully integrating digital innovation into its operations, reinforcing its leadership in driving agility and efficiency within the rapidly evolving healthcare landscape.

Delphine Poulat, CEO at Euris, remarked, “As the partner of choice for healthcare stakeholders globally, we are thrilled to collaborate with DKSH Healthcare, who have chosen Euris SmartReps Suite, as the CRM & MCE platform for ConnectPlus. In today’s healthcare environment, personalized, data-driven interactions are critical. ConnectPlus is designed to provide DKSH Healthcare with the insights needed to understand their customers better, foster stronger face-to-face interactions, and ultimately drive sales growth. Our flexible, closed-loop marketing approach leverages data to deliver tailored content and deepen customer relationships, all while ensuring agility in meeting local market needs. We are proud to support DKSH Healthcare by offering a complete SaaS CRM & MCE platform putting the healthcare professional knowledge and experience at the center of the strategy.”

[1] Source: Patient engagement technology market to rise by $37.4b through 2028, https://healthcareasiamagazine.com/healthcare/news/patient-engagement-technology-market-rise-374b-through-2028 

[2] Source: Overcoming HCP Engagement Fatigue with Data-Driven Insights, https://www.pharmexec.com/view/overcoming-hcp-engagement-fatigue-with-data-driven-insights 

[3] Source: Did Pharma Overshoot Digital Sales Rep Calls? Study Charts Decline in Effectiveness, https://www.fiercepharma.com/marketing/did-pharma-overshoot-digital-sales-rep-calls-study-charts-decline-effectiveness#:~:text=Last%20month,%2044%%20of

About DKSH  

DKSH’s purpose is to enrich people’s lives. For almost 160 years, DKSH has been delivering growth for companies in Asia and beyond across its Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, DKSH offers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 29,040 specialists, generating net sales of CHF 11.1 billion in 2023. As a strategic healthcare business partner, DKSH Business Unit Healthcare distributes pharmaceuticals, consumer health, and over-the-counter products as well as medical devices. With around 8,140 specialists, the Healthcare Business Unit generated net sales of CHF 5.6 billion in 2023. www.dksh.com/hec

About Euris

Euris is an IT group specialized in healthcare and pharmaceutical industry operating in over 50 countries. Euris delivers a comprehensive IT value chain through 2 business units: Healthcare SaaS CRM edition & Integration and Health Data Hosting. Euris’ Suite of Commercial and Marketing excellence modules, named SmartReps®, is recognized among the best-in-class solutions in the Gartner Market Guide for CRM in Pharmaceuticals and Biotechnology. www.euris.com

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Cisco and LTIMindtree Expand Partnership to Deliver Next-Generation Secure Access Globally

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News Summary:

LTIMindtree will leverage Cisco Secure Access as its new security service edge (SSE) solution to protect its 80,000 hybrid workers with secure internet access, advanced zero trust network access and embedded AI.Extending its networking partnership with Cisco, LTIMindtree now offers next-generation SSE to its global clients via Cisco Secure Access.Clients can work jointly with both companies to adopt a broad set of cloud security functions in a single, easy-to-use dashboard with Cisco Secure Access.

MELBOURNE, Australia, Nov. 12, 2024 /PRNewswire/ — CISCO LIVE — Cisco (NASDAQ: CSCO), the leader in enterprise networking and security, announced that LTIMindtree is now leveraging Cisco Secure Access as its security service edge (SSE) solution to enable secure hybrid work experiences for its employees and customers worldwide.

“With Cisco’s zero trust approach and embedded AI, it was an easy decision to replace our long-standing SSE solution with Cisco Secure Access,” said Nachiket Deshpande, Chief Operating Officer & Whole-time Director, LTIMindtree. “We were able to quickly deploy the solution, and it now protects our hybrid workforce while delivering a better user experience and simplified IT management.”

Cisco and LTIMindtree have also extended their partnership to deliver integrated Secure Access Service Edge (SASE) solutions based on Cisco technology to LTIMindtree’s global client base. LTIMindtree’s expertise in tailoring solutions to the specific vertical requirements is the perfect complement to Cisco’s technology, including Cisco Secure Access and SD-WAN, delivering seamless and secure connected experiences for both remote and in-office workers.

“Great workplaces require great security. With AI-powered threats rising, we are combating sophisticated attackers across a more expansive landscape. Our customers need their security to operate in the background, at machine scale to make the experience seamless and secure for hybrid workers,” said Jeetu Patel, Executive Vice President and Chief Product Officer, Cisco. “LTIMindtree’s rapid deployment of Secure Access is a great testament to Cisco’s platform strategy and differentiation. Together with our partners, we are changing what user protection means for a modern workplace.”

With Cisco Secure Access, decisions about how users connect to applications are handled behind the scenes via a unified agent, so users get to what they want more quickly. With low-latency connections and transparent identity-based authentication, users are more secure with less hassle. For IT organizations, Cisco Secure Access provides an easy pathway to zero trust and zero trust network access (ZTNA), while also simplifying operations with a unified console and AI-guidance. Secure Access is part of the Cisco Security Cloud, its unified, AI-driven, cross-domain security platform.

To learn more, visit cisco.com/go/security.

Additional Resources:

Introducing Cisco Secure Access

About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 84,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit https://www.ltimindtree.com/.

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SOURCE Cisco Systems, Inc.

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PixArt Imaging Unveils the “Magic Sensor”, PAC9001 Smart Pixel Optical Sensing Device: A Revolution in AI-Driven Sensor Technology

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HSINCHU, Nov. 12, 2024 /PRNewswire/ — As the demand for intelligent automation grows alongside AI and IoT, PixArt Imaging proudly introduces its latest innovation, the “magic sensor,” PAC9001 Smart Pixel Optical Sensing Device. Designed to revolutionize object presence detection across industries, the PAC9001 combines exceptional real-time performance and high efficiency in a compact, privacy-focused sensor.

The PAC9001 uses advanced AI-powered pixel processing to analyze visual information directly at the pixel level, a breakthrough that reduces data transmission needs and minimizes power consumption. This “smart” processing capability enables the PAC9001 to support rapid, high-accuracy applications in sectors such as retail, logistics, manufacturing, smart home, and PC peripherals. With its high sensitivity, the PAC9001 functions seamlessly even when concealed, providing essential insights without capturing identifiable images. This ensures enhanced privacy, making it ideal for settings like crowd control and security.

PixArt’s industry-leading expertise in imaging and sensor technology allows the PAC9001 to achieve low latency and energy efficiency while fitting effortlessly into devices, thanks to its compact module form of just W3.79 x L3.63 x H1.67 mm³. Its ability to detect and respond to object motion makes it invaluable in real-world applications, especially for edge devices requiring timely, precise sensing.

PixArt Imaging’s CEO, Sen Huang, commented, “Our vision is to enable smarter, more adaptive devices that transform the way we interact with technology. The PAC9001 represents our commitment to pioneering the next generation of sensor technology, combining the best of AI and pixel-level processing to deliver powerful, actionable insights. We’re thrilled to introduce this product to a world where privacy, efficiency, and real-time responsiveness have never been more important. Like a ‘magical’ presence working behind the scenes, the PAC9001 not only enables front-facing applications but also powers big data, enabling smart systems to collect valuable insights for user behavior predictions.

The PAC9001 also features PixArt’s proprietary Smart Motion Detection (SMD) and Pixel Difference Mode (PDM), enabling it to adapt to environmental changes and deliver high-precision data in varying lighting conditions, from bright daylight to darkness, at distances up to 5 meters. This advanced sensing capability ensures minimal false alarms compared to traditional PIR systems, making the PAC9001 a versatile and scalable solution for a wide range of industries and applications.

Combining advanced sensing, processing, and energy-saving technologies, the PAC9001 stands out as a game-changer for those seeking efficient, integrated solutions for next-generation smart devices.

For more information, visit PixArt Imaging

About PixArt Imaging Inc.

Founded in July 1998 and headquartered in Hsinchu, Taiwan, operates offices in the USA, Denmark, Malaysia, Japan, Korea, and China, providing services in IC design, R&D, manufacturing and sales. Specializing in sensing and navigation IC design, we focus on CMOS imaging, capacitive touch, MEMS sensing technologies to put into ASIC for human-machine interfaces and machine vision. Leveraging on our expertise in sensing and system design technologies, PixArt is strategically broadening our product lineup across diverse application markets. Our focus is on delivering top-tier image quality, optimizing for ultra-low power usage, compact designs, and seamless system-on-a-chip (SoC) integration; allowing us to drive innovation and meet evolving market demands in a versatile, energy-efficient, and highly integrated structure, positioning us to make impactful strides across varied technology sectors.

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SOURCE PixArt Imaging Inc.

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