The Fleet Management Market in Europe is set to grow by USD 22.3 billion from 2024-2028, driven by data efficiency. Report on how AI is redefining the landscape – Technavio

NEW YORK, Nov. 15, 2024 /PRNewswire/ — Report with market evolution powered by AI – The fleet management market in europe size is estimated to grow by USD 22.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 22.48% during the forecast period. Growing focus on efficient use of data to enhance fleet management is driving market growth, with a trend towards increase in EV adoption. However, high cost of on-premises software  poses a challenge.Key market players include AB Volvo, ABAX UK Ltd., AddSecure Group AB, Aeromark Communications Ltd., AREALCONTROL GmbH, Astrata Europe BV, Bridgestone Corp., Caterpillar Inc., Fleet Complete, Frotcom International, G4S Telematix, Geotab Inc., Inseego Corp., Karooooo Ltd., Mercedes Benz Group AG, MiX Telematics Ltd., Targa Telematics S.p.A., TraXall International, Trimble Inc., and Verizon Communications Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

The European fleet management market is experiencing significant trends driven by ELD regulations, pollution standards, labor laws, and road safety. Fleet owners prioritize environmentally friendly procedures, emission requirements, fuel usage, routine maintenance, driver behavior, and vehicle security for operational efficiency. GPS connectivity, geocoding, fleet routing, and fleet management solutions from top companies like Verizon Connect and Inseego are essential for real-time visibility. The retail segment focuses on inventory storage, warehouse systems, and customer satisfaction, addressing labor shortages and driver retention through route optimization and peak efficiency. Vehicle telematics, software solutions, and customer service ensure safety, profitability, and visibility. Wireless technology and data intelligence tools provide valuable insights for fleet managers. Key takeaways include dispatch, international trade, cyberthreats, and the digital revolution in the mobility sector. Fleet size, vehicle type, and financing are crucial components in the solutions segment. Safety, mobility-as-a-service, traffic, and carbon emissions are industry insights. Regulatory authorities oversee ride-sharing, carpooling, and car-sharing, while cloud-based solutions and big data analytics drive the digital transformation. Fleet managers prioritize preventive maintenance and economic effects. 

The European fleet management market is experiencing a significant shift due to the rising adoption of electric vehicles (EVs). Government initiatives aimed at reducing emissions and promoting sustainable transportation are driving this transition. Notable examples include subsidies and tax incentives in countries like Germany and France, which are encouraging fleet operators to integrate EVs into their operations. In response, there is growing demand for specialized EV fleet management solutions. These systems offer real-time battery monitoring, charging station optimization, and route planning that considers EV range limitations. Companies such as Geotab and ChargePoint lead the way in providing businesses with effective EV fleet management systems, enabling them to efficiently manage their electric vehicle assets while maximizing cost savings and environmental benefits. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Europe’s Fleet Management Market faces various challenges including ELD regulations, pollution standards, labor laws, road safety, and environmentally friendly procedures. Fleet owners aim for operational efficiency, addressing emission requirements, fuel usage, routine maintenance, driver behavior, vehicle security, and driver safety. Fleet size, geocoding, fleet routing, and fleet management solutions from top companies like Verizon Connect offer real-time visibility, routing, scheduling, and geofencing. Retail segment focuses on inventory storage and warehouse systems, while labor shortages and driver retention require route optimization for peak efficiency. Vehicle type, revenue share, and financing are crucial components in the solutions segment. Fleet Managers prioritize fuel consumption, productivity, safety, profitability, visibility, and wireless technology. Data intelligence tools, dispatch, international trade, cyberthreats, and vehicle insights are key considerations. Industry leaders like Inseego, Hertz Global, and others focus on operational competency, fleet safety, mobility-as-a-service, traffic, carbon emissions, and regulatory authorities. The digital revolution brings artificial intelligence, asset management, leasing/rental business, and service experts to the forefront. Small fleets and economic effects also impact the market.The European fleet management market faces a challenge with the rising costs of on-premises software solutions. These costs include software licensing, installation, maintenance, hardware, customization, and training. Major vendors offer secure, customizable on-premises fleet management software. However, they require skilled IT staff for management and dedicated personnel for operation. After implementation, regular upgrades are necessary to stay competitive and integrate advanced technologies like big data, AI, and blockchain. Despite these costs, on-premises solutions remain popular due to their customizability and security.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This fleet management market in Europe report extensively covers market segmentation by  

Vehicle Type1.1 Commercial fleets1.2 Passenger carsTechnology 2.1 Commercial telematics hardware2.2 Software2.3 Connectivity technologiesGeography 3.1 Europe

1.1 Commercial fleets-  The European fleet management market is witnessing significant growth due to the expanding commercial fleet sector. This segment encompasses various vehicle types, including trucks, vans, and specialized vehicles. Key drivers fueling market expansion are the rise of e-commerce, the need for efficient last-mile delivery, and increasing environmental regulations. Fleet management software is essential for optimizing operations, enhancing route planning, and ensuring regulatory compliance. Telematics, GPS tracking, and vehicle diagnostics technology are increasingly adopted, leading to improved efficiency and cost savings. Additionally, the market is being transformed by the push towards sustainability and electric commercial vehicles. Corporations are integrating eco-friendly solutions into their fleets to align with environmental objectives and regulations. The commercial fleet sector’s growth is anticipated to continue, driving the expansion of the European fleet management market throughout the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Fleet Management Market in Europe is experiencing significant growth due to increasing ELD regulations, pollution standards, labor laws, and road safety concerns. Environmentally friendly procedures and emission requirements are key focus areas for fleet owners, leading to an increased demand for fuel usage optimization, routine maintenance, and driver behavior monitoring. The market caters to various vehicle types, with revenue share distributed across components such as telematics, mobility-as-a-service, and cloud-based solutions. Fleet managers prioritize productivity, financing, and fuel consumption, while regulatory authorities enforce traffic rules, carbon emissions norms, and promote Mobility-as-A-Service through ride-sharing, carpooling, and car-sharing initiatives. Big data analytics plays a crucial role in optimizing fleet performance and ensuring compliance with evolving regulations.

Market Research Overview

The Fleet Management Market in Europe is experiencing significant growth due to various factors including ELD regulations, pollution standards, labor laws, and road safety. Environmentally friendly procedures and emission requirements are also driving the market, as fleet owners seek to reduce fuel usage and improve operational efficiency. Routine maintenance, driver behavior, and fleet vehicles’ performance and life cycle are crucial aspects of fleet management. Business operations in the transportation and logistics industry rely heavily on GPS connectivity, geocoding, fleet routing, and fleet management solutions. Top companies like Verizon Connect offer fleet tracking, geofencing, routing, scheduling, and real-time visibility. The retail segment focuses on inventory storage and warehouse systems, while fleet size, vehicle type, and revenue share are key components of the solutions segment. Fleet managers prioritize fuel consumption, productivity, financing, and vehicle telematics. Safety, profitability, visibility, wireless technology, and data intelligence tools are also essential. Key takeaways include dispatch, international trade, cyberthreats, vehicle insights, component insights, industry insights, and the digital revolution’s impact on mobility-as-a-service, traffic, carbon emissions, and regulatory authorities. Sudip Saha, an industry expert, discusses the economic effects, preventive maintenance, and the role of artificial intelligence in fleet management. Small fleets, labor shortages, driver retention, and route optimization are also significant challenges.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Vehicle TypeCommercial FleetsPassenger CarsTechnologyCommercial Telematics HardwareSoftwareConnectivity TechnologiesGeographyEurope

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-fleet-management-market-in-europe-is-set-to-grow-by-usd-22-3-billion-from-2024-2028–driven-by-data-efficiency-report-on-how-ai-is-redefining-the-landscape—technavio-302306630.html

SOURCE Technavio