$ 8.78 Billion growth expected in Fleet Management Market in Europe | 10.36% YOY growth in 2021 amid COVID-19 Spread | ROE to Notice Maximum Growth | Technavio

NEW YORK, May 4, 2021 /PRNewswire/ —
The fleet management market in Europe…

NEW YORK, May 4, 2021 /PRNewswire/ —

The fleet management market in Europe by technology (commercial telematics hardware, software, and connectivity technologies) and geography (Germany, the UK, France, and the rest of Europe) has been added to Technavio’s offering. The fleet management market in Europe is expected to grow by USD 8.78 billion, registering a CAGR of over 17% during 2021-2025.

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The imposition of lockdowns temporarily halted production, limited gatherings, and slowed down the global economy in 2020. This had a significant impact on the fleet management market in Europe. However, the economic scenario in Europe is expected to improve in 2021 with a reducing number of fresh COVID-19 cases and the growth of the automotive industry in the region. This will have a positive impact on the fleet management market in Europe.

The market is expected to be driven by factors such as the growing focus on efficient use of data to enhance fleet management, integration of video-based safety systems in fleet management, and government regulations related to the use of GPS trackers.

The report also offers information on the upcoming trends and challenges that will influence market growth.

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Fleet Management Market in Europe: Opportunities

The increasing stringency of regulations pertaining to vehicle safety is compelling automakers in Europe to integrate advanced systems in both passenger and commercial vehicles. For instance, in April 2015, the EU passed a mandate that required every passenger car and commercial vehicle to be equipped with eCall systems and GPS trackers by April 2018. The presence of such regulations is increasing the demand for fleet management systems, which is creating significant opportunities in the market.

Fleet Management Market in Europe: Segmentation by Technology

Based on the segmentation by technology, the market generated maximum revenue in the commercial vehicle telematics hardware segment in 2020. The segment is driven by the increasing integration of electronic systems such as backup cameras, collision avoidance systems, lane-change warning systems, light-emitting diode (LED) products, and telematics in vehicles. Also, the increasing adoption of RFID in fleet management solutions is expected to contribute to the growth of the segment during the forecast period.

Fleet Management Market in Europe: Segmentation by Geography

The market witnessed maximum growth in the rest of Europe other than Germany, France, and the UK in 2020. The growth of the market in the region can be attributed to the subsidies offered by the governments for efficient fleet management. Also, the presence of stringent government regulations pertaining to road safety will drive the growth of the fleet management market in the rest of Europe during the forecast period.

One of the fortune 500 companies had used the detailed research report on the fleet management market and had decided to increase their market share in the rest of Europe region which offers the highest market opportunities during the forecast period.

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Fleet Management Market in Europe: Major Vendors

AB Volvo

The company offers the fleet management service named Dynafleet services. The user can see the exact location and status of his drivers, trucks, and assets at any given time.

Astrata Group

The company offers the Astrata- Advanced Fleet Management System. It offers real-time visibility of location and status, provision of the right information at the right time, and many other important features.

Daimler AG

The company offers fleet management services that comprise features such as recovery and accident management, management reporting, and other services through its subsidiary Athlon.

Trimble Inc.

The company offers fleet management service by harnessing GPS and wireless communication technologies. It ensures real-time visibility of vehicles, their movement, and tracking their utilization.

Verizon Communications Inc.

The company offers fleet management software solutions. The solutions offered by the company ensure efficient tracking of vehicles in the field, improving fleet operations, and increasing worker productivity.

Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the fleet management market report: 

 Regional Analysis 

  •  Further breakdown of the market segmentation at requested regions. 

 Market Player Information 

  •  Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
  • Know the strategies adopted by vendors during the COVID-19 Recovery Phase.

Speak to our Analyst for a Customized Report

Related Reports on Fleet Management Market:

Global Smart Fleet Management Market – Global smart fleet management market is segmented by end-user (roadways, railroads, marine, and aviation) and geography (APAC, Europe, North America, MEA, and South America).

Download an Exclusive Free Sample Report

Global Fleet Telematics Systems Market – Global fleet telematics systems market is segmented by type (aftermarket fleet telematics systems and OEM fleet telematics systems) and geography (North America, Europe, APAC, South America, and MEA).

Download an Exclusive Free Sample Report

Global Automotive Remote Diagnostics Market – Global automotive remote diagnostics market is segmented by vehicle type (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).

Download an Exclusive Free Sample Report

Global GPS Tracker Market – Global GPS tracker market is segmented by end-user (logistics and transportation, construction and mining, government, and oil and gas) and geography (Europe, APAC, North America, MEA, and South America)

Download an Exclusive Free Sample Report

Global Vehicle Roadside Assistance Market – Global type (passenger vehicle and commercial vehicle) and geography (Europe, North America, APAC, MEA, and South America).

Download an Exclusive Free Sample Report

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • Commercial telematics hardware – Market size and forecast 2020-2025
  • Software – Market size and forecast 2020-2025
  • Connectivity technologies – Market size and forecast 2020-2025
  • Market opportunity by Technology

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Germany – Market size and forecast 2020-2025
  • UK – Market size and forecast 2020-2025
  • France – Market size and forecast 2020-2025
  • Rest of Europe – Market size and forecast 2020-2025
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • AB Volvo
  • ABAX UK Ltd.
  • Astrata Group
  • Bridgestone Corp.
  • Caterpillar Inc.
  • Daimler AG
  • Fleet Complete
  • MiX Telematics International (Pty) Ltd.
  • Trimble Inc.
  • Verizon Communications Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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