Fleet Management Market is reaching nearly USD 22.08 Billion at CAGR of 20.07 % through 2021 to 2027

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Fleet Management Market Overview:

According to a new report published by Maximize Market Research titled Fleet Management Market by Intelligent Virtual Assistant, End User, Distribution Channel, Price, and Geography: Industry Analysis and Forecast (2021-2027).

Research assists decision makers in devising strategies and plans for their regions by analysing trends in the market, the industry environment, dominant characteristics of the market, and their short- and long-term ramifications.

The study investigates the effect of COVID-19 lock-down on the earnings of industry leaders, followers, and disruptors. Because lockdown was implemented differently in different locations and countries, the impact varies by region and segment. The research has covered the current short and long term market impact, which will assist decision makers in preparing the framework for short and long term strategies for enterprises by region.

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Fleet Management Market Dynamics:

Every industry strives to produce as much as possible at the lowest possible cost. Fleet management costs account for a sizable portion of a company's operating expenses. Fleet management systems help fleet owners increase profits by optimising routing, maintaining vehicle security, encouraging driver safety, and improving fleet vehicle performance and life cycle. It also aids in the visualisation of fleet performance and determining which drivers or cost-cutting categories should be prioritised for improvement. Fleet management assists managers in right-sizing fleet vehicles, maintaining them, lowering overhead expenses, lowering fuel prices and distance travelled, modifying driver behaviour, and right-sizing fleet vehicles.

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Fleet Management Market Segmentation:

Based on Component, the market is sub-segmented into solution and service. Solutions held 64.43 % in 2020, with a market value of USD 12,574.13 million, and is expected to grow at a CAGR of 12.06 % over the forecast period. In 2020, services were the second-largest market, with a value of USD 6,941.24 million.

Based on Fleet type, the market is sub-segmented into Commercial fleets and Passenger cars.

The demand for passenger cars is likely to be larger. Vehicles with a seating capacity of up to six people, excluding the driver, are referred to as passenger automobiles. Passenger automobiles are further divided into the following divisions based on agreed-upon sub-categories: micro cars, compact cars, midsize cars, executive cars, premium cars, and luxury cars. It's easier and more cost-effective than ever to lease a small fleet of cars, minivans, or pickup trucks. For keeping the cars well maintained, the linked services include supply chain management, maintenance, licensing and compliance, fuel management, and accident claims. The Fleet Management Solution aids in the organization, management, and coordination of fleets.

Fleet Management Market Key Players:

Donlen Corporation
Geotab
Inseego Corp
Automotive Rentals Inc.
Omnitracs
TeletracNavman
Trimble
Verizon Connect
Wheels, Inc.
Mix Telematics
GPS Insight
Masternaut
Nextraq
Chevin Fleet Solutions
Azuga
COVID-19 Impact Analysis on Fleet Management Market:

The report investigates consumer and demand movements, purchasing behaviour, supply chain transformations, and current market power dynamics. This updated report discusses the impact of COVID-19 on the Smart Textile market, as well as insights, analyses, estimates, and predictions. In this report, we look at how the COVID-19 lockout has affected market leaders, followers, and disruptors. The impact varies by location and region depending on how the lockdown was implemented.

Fleet Management Market, Key Highlights:

The report provides analysis and projection of the Fleet Management market in terms of value.
Market drivers, constraints, and opportunities driving the growth of the Fleet Management Market are all examined in depth.
The Fleet Management Market has been segmented based on Intelligent Virtual Assistant, End User, Distribution Channel, Price, and geography (country-wise).
This report analyses the Fleet Management Market with respect to individual growth trends, future prospects, as well as the contribution of various submarket stakeholders.
Analysis and forecasts for the Fleet Management market for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-level segmentation.
A profile of key industry participants and an analysis of core competencies are included, in addition to strategic perspectives, market positioning, and analyses of core competencies.
The top companies active in the Fleet Management Market are profiled in terms of their competitive advancements, investments, strategic growth, and competitive landscape.
About Maximize Market Research:

Maximize Market Research, an industry research firm with a dedicated team of specialists and data, has conducted comprehensive research on the Fleet Management market. Maximize Market Research provides B2B and B2C research on 6,500 high-growth, emerging technologies for the chemical, healthcare, pharmaceutical, electronics, Internet of Things, food and beverage, aerospace, and defence industries. Maximize Market Research analyses the competitive landscape of sectors in addition to evaluating and estimating market size.

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