Fleet management is the process and practice involved in managing a company's fleet of vehicles. It includes cars, trucks, vans, and other vehicles used for business purposes. It also involves many practices, such as vehicle acquisition, maintenance, fuel management, driver management, and safety and compliance. The goal of fleet management is to optimize the use of company vehicles to improve efficiency, reduce costs, and enhance safety. Effective fleet management can help companies to increase productivity, reduce downtime, and extend the useful life of their vehicles. It can also help to improve driver behavior, reduce accidents, and ensure compliance with regulations and policies. Fleet management is used in various industries, including transportation, logistics, delivery services, and construction. Advanced technologies, such as GPS tracking and telematics, have made fleet management more effective and efficient in recent years.
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Data Bridge Market Research analyzes that the U.S. Fleet Management Market is expected to grow with a CAGR of 11.4% from 2023 to 2030 and in 2022 the market was USD 9,877,780.35 thousand.
Key Findings of the Study
Rapid Adoption of Fuel Management Systems in Fleets is expected to drive Market Growth
One of the primary factors driving this trend is the ever-increasing focus on sustainability and environmental responsibility. The growing concerns about climate change and emissions, businesses are under increasing pressure to reduce their carbon footprint. Fuel consumption is a major contributor to greenhouse gas emissions, making it a focal point for environmental efforts.
These systems utilize cutting-edge technologies such as GPS, telematics, and real-time data analysis to provide fleet managers with valuable insights into fuel usage. By monitoring and analyzing driver behavior, vehicle performance, and route efficiency, these systems empower fleet operators to make data-driven decisions that result in significant fuel savings.
Technological advancements continue to drive innovation in this country, and government bodies, businesses, and market players recognize the importance of fuel management systems in optimizing fuel usage, reducing costs, and improving efficiency. Thus, the rapid adoption of fuel management systems in fleet management is expected to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Offering (Solution and Services), Lease Type (On-Lease and Without Lease), Mode of Transport (Automotive, Marine, Rolling Stock, and Aircraft), Vehicle Type (Internal Combustion Engines and Electric Vehicle), Hardware (GPS Tracking Devices, Dash Cameras, Bluetooth Tracking Tags, Data Loggers, and Others), Fleet Size ( Small Fleets (1-5 Vehicles), Medium Fleets (5-20 Vehicles), and Large & Enterprise Fleets (20-50+ Vehicles), Communication Range (Short-Range Communication and Long-Range Communication), Deployment Model (On-Premise, Cloud, and Hybrid), Technology (GNSS, Cellular Systems, Electronic Data Interchange (EDI), Remote Sensing, Computational Methods & Decision-Making. RFID, and Others), Functions (Monitoring Driver Behaviour, Fuel Consumption, Asset Management, ELD Compliance, Route Management, Vehicle Maintenance Updates, Delivery Schedule, Accident Prevention, Real Time Vehicle Location, Mobile Apps, and Others), Operations (Private and Commercial), Business Type (Small Business and Large Business), End User (Automotive, Transportation & Logistics, Retail, Manufacturing, Food & Beverages, Energy & Utilities, Mining, Government, Healthcare, Agriculture, Construction, and Others)
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Country Covered
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U.S.
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Market Players Covered
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Avis Budget Group (U.S.), Enterprise Holdings (U.S.), Element Fleet Management Corp. (Canada), Motive Technologies, Inc. (U.S.), Deutsche Leasing AG (Germany), Donlen (A Subsidiary of Athene Holding Ltd.) (U.S.), Wheels (U.S.), LeasePlan (Netherlands), Sixt Leasing (Germany), Chevin Fleet Solutions (U.K.), BERGSTROM AUTOMOTIVE (U.S.), Emkay (U.S.), TÜV SÜD (Germany), NEXTRAQ LLC (U.S.), Rarestep, Inc. (U.S.), Capital Lease Group (U.S.), and Wilmar, Inc. (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis
The U.S. fleet management market is segmented into thirteen notable segments based on offering, lease type, mode of transport, vehicle type, hardware, fleet size, communication range, deployment model, technology, functions, operations, business type, and end user.
- On the basis of offering, the market is segmented into solution and services.
In 2023, the solution segment is anticipated to dominate the market
In 2023, the solution segment is expected to dominate the market with a 63.80% market share owing to the greater demand for solutions from small and large businesses
- On the basis of lease type, the market is segmented into on-lease and without a lease
In 2023, the on-lease segment of lease type is anticipated to dominate the market
In 2023, the on-lease segment is expected to dominate the market with a 68.39% market share because it provides cost savings by spreading out the cost of vehicles over the lease term. It also offers flexibility to lessees, allowing them to adjust the size and type of their fleet as needed.
- On the basis of hardware, the market is segmented into GPS tracking devices, dash cameras, bluetooth tracking tags, data loggers, and others. In 2023, the GPS tracking devices is expected to dominate the market with a 31.07% market share.
- On the basis of fleet size, the market is segmented into small fleets (1-5 vehicles), medium fleets (5-20 vehicles), and large & enterprise fleets (20-50+ vehicles). In 2023, the small fleets (1-5 vehicles), are expected to dominate the market with a 44.87% market share.
- On the basis of communication range, the market is segmented into short range communication, and long range communication. In 2023, the short range communication, is expected to dominate the market with a 55.93% market share.
- On the basis of deployment model, the market is segmented into on-premise, cloud, and hybrid. In 2023, the on-premise, is expected to dominate the market with a 59.07% market share.
- On the basis of technology, the market is segmented into GNSS, cellular systems, Electronic Data Interchange (EDI), remote sensing, computational method & decision making, RFID, and others. In 2023, the GNSS, is expected to dominate the market with a 35.56% market share.
- On the basis of functions, the market is segmented into asset management, route management, fuel consumption, real time vehicle location, delivery schedule, accident prevention, Mobile Apps, monitoring driver behavior, vehicle maintenance updates, ELD compliance, and others. In 2023, the route management, is expected to dominate the market with a 16.60% market share.
- On the basis of operations, the market is segmented into commercial, and private. In 2023, the commercial, is expected to dominate the market with a 66.67% market share.
- On the basis of business type, the market is segmented into large business, and small business. In 2023, the large business, is expected to dominate the market with a 63.40% market share.
- On the basis of vehicle type, the market is segmented into internal combustion engine, and electric vehicle. In 2023, the internal combustion engine, is expected to dominate the market with a 77.16% market share.
- On the basis of mode of transport, the market is segmented into automotive, marine, rolling stock and aircraft. In 2023, the automotive is expected to dominate the market with a 64.50% market share.
Major Players
Data Bridge Market Research analysis Avis Budget Group (U.S.), Enterprise Holdings (U.S.), Element Fleet Management Corp. (Canada), Motive Technologies, Inc. (U.S.), and Deutsche Leasing AG (Germany) as the major market player operating in this market.
Market Developments
- In March 2023, Enterprise Holdings announced that the company has partnered with St. Louis CITY SC to establish “Enterprise Community Corner.” The company has reflected its commitment to strengthening the neighborhoods in which it operates, including in its hometown of St. Louis. This step has allowed the Company to promote itself in the U.S. region and gain more consumers in the market
- In March 2023, Enterprise Holdings announced that the Company had been awarded the 2023 Gallup Exceptional Workplace Award (GEWA). GEWA winners are recognized for their ability to challenge the status quo and “transform workplaces by putting people at the heart of their business strategies.” This award has allowed the Company to gain international media attention and has gained brand recognition in the market.
- In February 2022, Chevin Fleet Solutions announced that the Company had been shortlisted as a finalist for the Fleet News ‘Fleet Supplier of the Year award. This award is designed to identify the fleet supplier which has gone the extra mile in providing exceptional service and products to fleet customers and has proved over the year that they have invested heavily in their commitment to the fleet. The Company has used this news to gain media attention and incline new clients for its product offerings in the market.
- In October 2022, Motive Technologies, Inc. announced that the company has launched a new product: the environmental sensor and its integration with Thermo King. This launch has expanded company offerings in the food and beverage business segment. The solution helps businesses improve compliance with food transportation safety requirements and reduce costs related to reefer operations under fleet management
- In February 2022, Element Fleet Management Corp. announced that the company launched the Arc by Element, an end-to-end electric vehicle (EV) fleet offering to help clients navigate and simplify the complex transition from internal combustion engine (ICE) vehicles to EVs. Through this, the company has assisted its clients in evaluating and adopting this new technology to advance their sustainability and strategic and economic objectives. It has boosted its presence in the global fleet management market
For more detailed information about the U.S. fleet management market report, click here – https://www.databridgemarketresearch.com/reports/us-fleet-management-market
