“The Europe Fleet Management Market (excluding U.K.) Expected to Reach $4,710.7 Million by 2031.”
Introduction to Europe Fleet Management Market
The Europe fleet management market (excluding U.K.) is projected to reach $4,710.7 million by 2031 from $968.5 million in 2022, growing at a CAGR of 19.22% during the forecast period 2022-2031. Commercial vehicle fleet management tools are experiencing technical breakthroughs and are expected to increase at an accelerated rate throughout the forecast timeframe. It is anticipated that the introduction of connected vehicles will improve important market development initiatives.
KEY MARKET STATISTICS |
Forecast Period | 2022 - 2031 |
2022 Evaluation | $968.5 Million |
2031 Forecast | $4,710.7 Million |
CAGR | 19.22% |
The Europe fleet management market is witnessing significant growth. The fleet management market is expanding as a result of growing knowledge of the benefits provided by these systems to the commercial vehicle industry. Furthermore, fleet management is growing in the European market as a result of the industrial revolution's embrace of new technology.
Market Introduction
Technological developments in commercial vehicle management tools are driving a considerable evolution of the European fleet management market. These tools are expected to rise rapidly throughout the forecast period, and the widespread use of connected automobiles is expected to significantly stimulate important market development activities. The Europe fleet management market is now seeing growth as a result of fleet companies' growing understanding of the numerous advantages provided by cutting-edge management systems. One of the main drivers of the market's expansion is this increased awareness, which is also being aided by the ongoing industrial revolution and the widespread adoption of cutting-edge technology in Europe's commercial vehicle industry.
Market Segmentation:
Segmentation 1: by Application Type
- Real Time Location Monitoring
- Fuel Management
- Maintenance Management
- Driver Management
- Weight/Volume Tracking
- Accounting and Insurance
Segmentation 2: by Vehicle Type
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Segmentation 3: by Component
- Hardware
- Software
- Service
Segmentation 4: by Deployment
Segmentation 5: by Country
- Germany
- France
- Italy
- Spain
- Rest-of-Europe
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of fleet management products available by Component (Hardware, Software, and Service), by Deployment (On-Premises and Cloud), by Application Type (Real Time Location Monitoring, Fuel Management, Maintenance Management, Driver Management, Weight/Volume Tracking, and Accounting and Insurance), by Commercial Vehicle Type (Light Commercial Vehicles and Heavy Commercial Vehicles). Increasing demand worldwide is pushing the sales of fleet management systems. Therefore, the fleet management business is a low-investment and high-revenue generating model.
Growth/Marketing Strategy: The Europe Fleet Management Market is exponentially growing, with enormous opportunities for the market players. Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies' preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the Europe fleet management market.
Competitive Strategy: Key players in the Europe fleet management market analyzed and profiled in the study involve fleet management-based product manufacturers and start-ups. Moreover, a detailed competitive benchmarking of the players operating in the Europe fleet management market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
- TomTom International BV
- Gurtam
- Astrata Europe BV.
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- TELTONIKA
- Navtelecom, LLC
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Table of Contents
1 Markets
- 1.1 Global Market Outlook
- 1.1.1 Fleet Management Trends
- 1.1.1.1 Successful Transport Companies Becoming Increasingly Data-Driven
- 1.1.1.2 Moving Toward Privately Owned Vehicles
- 1.1.1.3 Uncertain Fuel Costs
- 1.1.1.4 Keeping Fleets Relevant Requires the Adoption of Electric Vehicles
- 1.1.2 Supply Chain Analysis
- 1.1.3 Key Patents Mapping
- 1.1.4 Regulatory Landscape
- 1.1.4.1 U.S. Fleet Management Laws
- 1.1.4.1.1 Vehicle Tracking Laws
- 1.1.4.1.1.1 ELD Rule
- 1.1.4.1.1.2 ELD Compliance Deadline
- 1.1.4.1.2 Impact of Fleet Management Laws on the U.S. Fleet Management Market
- 1.1.4.2 Germany Fleet Management Laws
- 1.1.4.2.1 DGUV (German Social Accident Insurance) Regulation
- 1.1.4.2.2 Impact of Fleet Management Laws on the Germany Fleet Management Market
- 1.1.4.3 France Fleet Management Laws
- 1.1.4.3.1 WLTP Effect
- 1.1.4.3.2 Impact of Fleet Management Laws on the France Fleet Management Market
- 1.1.4.4 Australia Fleet Management Laws
- 1.1.4.4.1 Heavy Vehicle National Law
- 1.1.4.4.2 Impact of Fleet Management Laws on the Australia Fleet Management Market
- 1.1.5 Business Model
- 1.1.5.1 Subscription Model
- 1.2 Business Dynamics
- 1.2.1 Business Drivers
- 1.2.1.1 Growing Number of Vehicle and Asset Thefts
- 1.2.1.2 Increase in Road Accidents
- 1.2.1.3 Volatility in Fuel Prices
- 1.2.1.4 Augmented Demand for Fleet Management Solutions from Transportation and Logistics Industry
- 1.2.2 Business Challenges
- 1.2.2.1 Connecting Information Together from a Variety of Sources
- 1.2.2.2 Risk of Cyber Attacks
- 1.2.3 Business Strategies
- 1.2.3.1 Product Developments
- 1.2.3.2 Market Developments
- 1.2.4 Corporate Strategies
- 1.2.4.1 Mergers and Acquisitions
- 1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances
- 1.2.5 Business Opportunities
- 1.2.5.1 Surging Demand for Connected and Autonomous Vehicles
- 1.2.5.2 Emergence of the Internet of Things (IoT)
2 Region
- 2.1 Europe
- 2.1.1 Market
- 2.1.1.1 Buyers Attributes
- 2.1.1.2 Competitive Benchmarking
- 2.1.1.3 Key Fleet Management System Providers in Europe
- 2.1.1.4 Business Challenges
- 2.1.1.5 Business Drivers
- 2.1.2 Application
- 2.1.2.1 Europe Fleet Management Market (by Application Type), Value Data
- 2.1.2.2 Europe Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.1.3 Product
- 2.1.3.1 Europe Fleet Management Market (by Component), Value Data
- 2.1.3.2 Europe Fleet Management Market (by Deployment), Value Data
- 2.1.4 Europe (by Country)
- 2.1.4.1 Italy
- 2.1.4.1.1 Market
- 2.1.4.1.1.1 Buyers Attributes
- 2.1.4.1.1.2 Key Fleet Management System Providers in Italy
- 2.1.4.1.1.3 Business Challenges
- 2.1.4.1.1.4 Business Drivers
- 2.1.4.1.2 Application
- 2.1.4.1.2.1 Italy Fleet Management Market (by Application Type), Value Data
- 2.1.4.1.2.2 Italy Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.1.4.1.3 Product
- 2.1.4.1.3.1 Italy Fleet Management Market (by Component), Value Data
- 2.1.4.1.3.2 Italy Fleet Management Market (by Deployment), Value Data
- 2.1.4.2 France
- 2.1.4.2.1 Market
- 2.1.4.2.1.1 Buyers Attributes
- 2.1.4.2.1.2 Key Fleet Management System Providers in France
- 2.1.4.2.1.3 Business Challenges
- 2.1.4.2.1.4 Business Drivers
- 2.1.4.2.2 Application
- 2.1.4.2.2.1 France Fleet Management Market (by Application Type), Value Data
- 2.1.4.2.2.2 France Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.1.4.2.3 Product
- 2.1.4.2.3.1 France Fleet Management Market (by Component), Value Data
- 2.1.4.2.3.2 France Fleet Management Market (by Deployment), Value Data
- 2.1.4.3 Germany
- 2.1.4.3.1 Market
- 2.1.4.3.1.1 Buyers Attributes
- 2.1.4.3.1.2 Key Fleet Management System Providers in Germany
- 2.1.4.3.1.3 Business Challenges
- 2.1.4.3.1.4 Business Drivers
- 2.1.4.3.2 Application
- 2.1.4.3.2.1 Germany Fleet Management Market (by Application Type), Value Data
- 2.1.4.3.2.2 Germany Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.1.4.3.3 Product
- 2.1.4.3.3.1 Germany Fleet Management Market (by Component), Value Data
- 2.1.4.3.3.2 Germany Fleet Management Market (by Deployment), Value Data
- 2.1.4.4 Spain
- 2.1.4.4.1 Market
- 2.1.4.4.1.1 Buyers Attributes
- 2.1.4.4.1.2 Key Fleet Management System Providers in Spain
- 2.1.4.4.1.3 Business Challenges
- 2.1.4.4.1.4 Business Drivers
- 2.1.4.4.2 Application
- 2.1.4.4.2.1 Spain Fleet Management Market (by Application Type), Value Data
- 2.1.4.4.2.2 Spain Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.1.4.4.3 Product
- 2.1.4.4.3.1 Spain Fleet Management Market (by Component), Value Data
- 2.1.4.4.3.2 Spain Fleet Management Market (by Deployment), Value Data
- 2.1.4.5 Rest-of-Europe
- 2.1.4.5.1 Market
- 2.1.4.5.1.1 Buyers Attributes
- 2.1.4.5.1.2 Key Fleet Management System Providers in Rest-of-Europe
- 2.1.4.5.1.3 Business Challenges
- 2.1.4.5.1.4 Business Drivers
- 2.1.4.5.2 Application
- 2.1.4.5.2.1 Rest-of-Europe Fleet Management Market (by Application Type), Value Data
- 2.1.4.5.2.2 Rest-of-Europe Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.1.4.5.3 Product
- 2.1.4.5.3.1 Rest-of-Europe Fleet Management Market (by Component), Value Data
- 2.1.4.5.3.2 Rest-of-Europe Fleet Management Market (by Deployment), Value Data
- 2.2 U.K.
- 2.2.1 Market
- 2.2.1.1 Buyers Attributes
- 2.2.1.2 Competitive Benchmarking
- 2.2.1.3 Key Fleet Management System Providers in the U.K.
- 2.2.1.4 Business Challenges
- 2.2.1.5 Business Drivers
- 2.2.2 Application
- 2.2.2.1 U.K. Fleet Management Market (by Application Type), Value Data
- 2.2.2.2 U.K. Fleet Management Market (by Commercial Vehicle Type), Value Data
- 2.2.3 Product
- 2.2.3.1 U.K. Fleet Management Market (by Component), Value Data
- 2.2.3.2 U.K. Fleet Management Market (by Deployment), Value Data
3 Markets - Competitive Benchmarking & Company Profiles
- 3.1 Competitive Benchmarking
- 3.2 Market Share Analysis
- 3.3 Company Profiles
- 3.3.1 TomTom International BV
- 3.3.1.1 Company Overview
- 3.3.1.1.1 Role of TomTom International BV in the Fleet Management Market
- 3.3.1.1.2 Product Portfolio
- 3.3.1.2 Business Strategies
- 3.3.1.2.1 Research Outputs, Developments, and Product Launches
- 3.3.1.3 Corporate Strategies
- 3.3.1.3.1 Partnerships, Collaborations, Investments, Mergers, and Acquisitions
- 3.3.1.4 Production Sites and R&D Analysis
- 3.3.1.5 Analyst View
- 3.3.2 Gurtam
- 3.3.2.1 Company Overview
- 3.3.2.1.1 Role of Gurtam in the Fleet Management Market
- 3.3.2.1.2 Product Portfolio
- 3.3.2.2 Corporate Strategies
- 3.3.2.2.1 Partnerships, Collaborations, Investments, Mergers, and Acquisitions
- 3.3.2.3 Analyst View
- 3.3.3 Astrata Europe BV.
- 3.3.3.1 Company Overview
- 3.3.3.1.1 Role of Astrata Europe BV. in the Fleet Management Market
- 3.3.3.1.2 Product Portfolio
- 3.3.3.2 Business Strategies
- 3.3.3.2.1 Research Outputs, Developments, and Product Launches
- 3.3.3.3 Corporate Strategies
- 3.3.3.3.1 Partnerships, Collaborations, Investments, Mergers, and Acquisitions
- 3.3.3.4 Analyst View
- 3.3.4 TELTONIKA
- 3.3.4.1 Company Overview
- 3.3.4.1.1 Role of TELTONIKA in the Fleet Management Market
- 3.3.4.1.2 Product Portfolio
- 3.3.4.2 Analyst View
- 3.3.5 Navtelecom, LLC
- 3.3.5.1 Company Overview
- 3.3.5.1.1 Role of Navtelecom, LLC in the Fleet Management Market
- 3.3.5.1.2 Product Portfolio
- 3.3.5.2 Business Strategies
- 3.3.5.2.1 Research Outputs, Developments, and Product Launches
- 3.3.5.3 Analyst View
4 Research Methodology
- 4.1 Data Sources
- 4.1.1 Primary Data Sources
- 4.1.2 Secondary Data Sources
- 4.2 Data Triangulation
- 4.3 Market Estimation and Forecast
- 4.3.1 Factors for Data Prediction and Modeling