North America Fleet Management Market, By 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 and 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 and Decision-Making, RFID, and Others), Function (Monitoring Driver Behaviour, Fuel Consumption, Asset Management, ELD Complaint, Route Management, Vehicle Maintenance Updates, Delivery Schedule, Accident Prevention, Real-Time Vehicle Location, Mobile Apps, and Others), Operations (Private and Commercial), Business Type (Small Businesses and Large Businesses), End User (Automotive, Transportation & Logistics, Retail, Manufacturing, Food & Beverages, Energy & Utilities, Mining, Government, Healthcare, Agriculture, Construction, and Others) – Industry Trends and Forecast to 2030.
North America Fleet Management Market Analysis and Size
Major factors expected to boost the growth of the fleet management market in the forecast period are the rise in several industrial applications, including aerospace, steel, power, chemical, and others. Furthermore, the increased resistance to load variations is the benefit of fleet management, which is further anticipated to propel the growth of the fleet management market.
Data Bridge Market Research analyses that the North America fleet management market is expected to reach the value of USD 26,579,043.93 thousand by 2030, at a CAGR of 10.9% during the forecast period. The fleet management market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Report Metric
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Details
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Base Year
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2022
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Forecast Period
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2023 - 2030
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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 and 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 and Decision-Making, RFID, and Others), Function (Monitoring Driver Behaviour, Fuel Consumption, Asset Management, ELD Complaint, Route Management, Vehicle Maintenance Updates, Delivery Schedule, Accident Prevention, Real-Time Vehicle Location, Mobile Apps, and Others), Operations (Private and Commercial), Business Type (Small Businesses and Large Businesses), End User (Automotive, Transportation & Logistics, Retail, Manufacturing, Food & Beverages, Energy & Utilities, Mining, Government, Healthcare, Agriculture, Construction, and Others)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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TRAXALL, Donlen LeasePlan, Enterprise Holdings, Emkay, Chevin Fleet Solutions, Deutsche Leasing AG, BERGSTROM AUTOMOTIVE, TÜV SÜD, Motive Technologies, Inc., ALD Automotive, VEL’CO, Avrios, Element Fleet Management Corp., Rarestep, Inc., OviDrive B.V., FleetCompany GmbH, Sixt Leasing (Acquired by Hyundai Capital Bank Europe GmbH) , Fleetcare Pty Ltd., Capital Lease Group, Wilmar Inc., Wheels, NEXTRAQ, LLC, Avis Budget Group, and Zeemac Vehicle Acquisition & Fleet Services among others
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Market Definition
Fleet management is the processes and practices involved in managing a company's fleet of vehicles. Fleet management 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.
North America Fleet Management Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
- Increase in Demand for the Logistics Due to the E-Commerce Industry
Fleet management is a practice that allows organizations to manage and coordinate delivery vehicles to achieve optimum efficiency and reduce costs. The practice of fleet management is used to monitor and record couriers and delivery personnel. It requires a system of technologies that make it easier for the fleet manager to coordinate the activities from fuel management to planning the routes- and can be easily managed using fleet management software. The expansion of the e-commerce industry has significantly impacted the logistics industry. Logistics has been considered the backbone of the e-commerce industry as it immediately affects planned operations, stockrooms, and production network organizations. They will progressively depend on re-evaluating to deal with the rising requests related to internet business portion development. Embracing this course either for the last-mile conveyance or for request satisfaction will empower them to guarantee predictable, dependable, productive, and misfire-free conveyance. Thus, this can be a great factor in managing and expanding the pressure due to the expected growth of the e-commerce business industry.
- Rise in Demand for Improvement of Customer Services
Customers nowadays are smarter and have higher expectations than ever before. Customer satisfaction and happiness are among the most important considerations for any company. Regardless of the business sector, unhappy customers won't be customers for long, so it's important to keep them happy and feel valued. This is true for logistics and fleet management as well, where the retention of customers is key to long-term success. Improving customer services and satisfaction through improved fleet management performance is a key factor expected to boost the North America fleet management market. In today's competitive market, businesses recognize the importance of customer satisfaction and use advanced technologies in fleet management solutions to optimize their operations and improve customer experiences
Opportunities
- Rise in the Demand for Utility Vehicles
Utility vehicles are vehicles designed and used for carrying goods or passengers. These vehicles include trucks, vans, buses, and similar vehicles used for commercial purposes. The utility vehicle market is a crucial component of the North America automobile industry and has witnessed significant growth over the past decades. The rise in demand for utility vehicles can be attributed to several factors, including the growth of the e-commerce industry, increasing urbanization, and the need for efficient transportation systems. As more and more businesses rely on utility vehicles for their transportation needs, the demand for fleet management services and software is also expected to increase. One of the reasons for the rise in demand for utility vehicles is the growth of the e-commerce industry. The demand for transportation services has increased with the increasing number of online shopping platforms. As a result, the use of utility vehicles has become more common, and fleet management has become more critical.
Restraints/Challenges
- Lower Efficiency in Connectivity
The logistics and transport industry has changed significantly in recent years. Concepts such as digitization, the emergence of big data, and connectivity have been introduced, and many fleets are now using early versions of these new technologies. In many cases, they are changing how fleet managers operate daily. Connectivity is one of the most important and effective concepts. This is where a fleet manager can have an overview of the entire fleet and stay in contact with drivers, trucks, and trailers through automated processes that provide actionable data from on-board devices. Through telematics devices and connected software solutions, fleet problems can be alerted to minor vehicle issues as they arise, allowing them to address issues sooner and deal with problems before breakdowns occur. This gives the flexibility to make running repairs or scheduled maintenance in advance, which enables trucks to stay on the road more often, spending more time delivering goods
- Improper Guidance for Enabling the Route
A vehicle tracking system can be defined as a part of a fleet management system, which enables the fleet operator to find out the vehicle's location throughout the vehicle's journey against time. Apart from utilizing the data generated by the vehicle tracking system for enforcing the bus schedule, this data also provides important inputs for decision-making. The system facilitates the computation of the exact distance travelled in a given time span, the computation of the speed of the bus at a given location, the analysis of the time taken by the vehicle to cover a certain distance. It becomes a very powerful tool in the case of operating agencies.
Post COVID-19 Impact on North America Fleet Management Market
COVID-19 created a negative impact on the fleet management market due to lockdown regulations and rules at manufacturing facilities.
The COVID-19 pandemic has impacted the fleet management market to an extent in negative manner. However, the increasing adoption of fleet management in the aviation sector has helped the market to grow after the pandemic. Also, the growth has been high since the market has opened after COVID-19, and it is expected that there would be considerable growth in the sector.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in fleet management. With this, the companies will bring advanced technologies to the market. In addition, government initiatives for using automation technology have led to the market's growth.
Recent Development
- In October 2022, Chevin Fleet Solutions announced that the Company had launched new applications, ‘FleetWave Technician’ and ‘FleetWave Driver’, for its fleet management software products.
- 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.
North America Fleet Management Market Scope
The North America fleet management market is segmented on the basis of offering, lease type, mode of transport, vehicle type, hardware, fleet size, communication range, deployment model, technology, functions, operations, business type, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Solution
- Services
On the basis of offering, the market is segmented into solution and services.
Lease Type
- On-Lease
- Without Lease
On the basis of lease type, the market is segmented into on-lease and without a lease.
Mode of Transport
- Automotive
- Marine
- Rolling Stock
- Aircraft
On the basis of mode of transport, the market is segmented into automotive, marine, rolling stock, and aircraft.
Vehicle Type
- Internal Combustion Engines (ICE)
- Electric Vehicle
On the basis of vehicle type, the market is segmented into Internal Combustion Engines (ICE) and electric vehicles.
Hardware
- GPS Tracking Devices
- Dash Cameras
- Bluetooth Tracking Tags (BLE Beacons)
- Data Loggers
- Others
On the basis of hardware, the market is segmented into GPS tracking devices, dash cameras, bluetooth tracking tags (BLE beacons), data loggers, and others.
Fleet Size
- Small Fleets (1-5 Vehicles)
- Medium Fleets (5-20 Vehicles)
- Large and Enterprise Fleets (20-50+ Vehicles)
On the basis of fleet size, the market is segmented into small fleets (1-5 vehicles), medium fleets (5-20 vehicles), and large and enterprise fleets (20-50+ vehicles).
Communication Range
- Short-Range Communication
- Long-Range Communication
On the basis of communication range, the market is segmented into short-range communication and long-range communication.
Deployment Model
- On-Premise
- Cloud
- Hybrid
On the basis of deployment model, the market is segmented into on premise, cloud, and hybrid.
Technology
- GNSS
- Cellular Systems
- Electronic Data Interchange (EDI)
- Remote Sensing
- Computational Methods
- Decision-Making
- RFID
- Others
On the basis of technology, the market is segmented into GNSS, Cellular systems, electronic data interchange (EDI), remote sensing, computational methods, decision-making, RFID, and others.
Function
- Monitoring Driver Behaviour
- Fuel Consumption
- Asset Management
- ELD Complaint
- Route Management
- Vehicle Maintenance Updates
- Delivery Schedule
- Accident Prevention
- Real-Time Vehicle Location
- Mobile Apps
- Others
On the basis of function, the market is segmented into monitoring driver behaviour, fuel consumption, asset management, ELD complaint, route management, vehicle maintenance updates, delivery schedule, accident prevention, real-time vehicle location, mobile apps, and others.
Operations
- Private
- Commercial
On the basis of operations, the market is segmented into private and commercial.
Business Type
- Small Businesses
- Large Businesses
On the basis of business type, the market is segmented into small businesses and large businesses.
End User
- Automotive
- Transportation & Logistics
- Retail
- Manufacturing
- Food & Beverages
- Energy & Utilities
- Mining
- Government
- Healthcare
- Agriculture
- Construction
- Others
On the basis of end user, the market is segmented into automotive, transportation & logistics, retail, manufacturing, food & beverages, energy & utilities, mining, government, healthcare, agriculture, construction, and others. All automotive, transportation & logistics, retail, manufacturing, food & beverages, energy & utilities, mining, government, healthcare, agriculture, and construction.
North America Fleet Management Market Regional Analysis/Insights
The North America fleet management market is analysed, and market size insights and trends are provided by offering, lease type, mode of transport, vehicle type, hardware, fleet size, communication range, deployment model, technology, functions, operations, business type, and end user as referenced above.
The countries covered in the fleet management market report are U.S., Canada, and Mexico in North America.
The U.S. is a dominating country as it is home to many giant market players in the fleet management market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Fleet Management Market Share Analysis
North America fleet management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the fleet management market.
Some of the major players operating in the North America fleet management market are TRAXALL, Donlen LeasePlan, Enterprise Holdings, Emkay, Chevin Fleet Solutions, Deutsche Leasing AG, BERGSTROM AUTOMOTIVE, TÜV SÜD, Motive Technologies, Inc., ALD Automotive, VEL’CO, Avrios, Element Fleet Management Corp., Rarestep, Inc., OviDrive B.V., FleetCompany GmbH, Sixt Leasing (Acquired by Hyundai Capital Bank Europe GmbH) , Fleetcare Pty Ltd., Capital Lease Group, Wilmar Inc., Wheels, NEXTRAQ, LLC, Avis Budget Group, and Zeemac Vehicle Acquisition & Fleet Services among others.
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