Part
01
of one
Part
01
What is the market size and growth of the fleet management software industry?
Hello and thank you for asking Wonder! I understand that you are seeking the market size and growth for the fleet management software industry globally. The most helpful sources were several different reports from Research and Markets. In short, globally, the fleet management solutions market, which includes software, is worth around $3.21 billion, growing at a rate of 22.88%. Software specifically, though, is growing at a rate of 21.2%.
FLEET MANAGEMENT SOFTWARE INDUSTRY
According to Research and Market, the global fleet management solutions market was worth $3.21 billion, as of 2015. It is expected to reach $9 billion by 2020, with a CAGR of 22.88%. While this market is not specific to software, it does contain software and was the best publicly available market figure. The market as a whole is made up of "hardware, software, network infrastructure and connectivity solutions". However, while an exact market size was not made available, the fleet management software market has an expected CAGR of 21.2% from 2015-2020.
There are a number of growth drivers that are affecting the industry. Many fleet operations are trying to streamline their processes, increasing demand. As hardware costs go down, more people are adopting these solutions. Market penetration is increasing, too, especially among smaller fleet companies, who were previously unaware of these solutions. There is a trend of people moving to the cloud, rather than on-premise solutions, that is being seen, as well.
Specifically in the software market, the top 5 companies, by the number of customers according to Capterra, are:
Benefits of fleet management software that are starting to be recognized include increased driver safety and accident prevention. Approximately 29% of people that have used the software have noted an improvement in this area. Safety is improved through the tracking of sudden braking or acceleration, or exceeding the speed limit. Accident prevention is seen from maintenance tracking, so owners know what the warranties they have are, when it is time for regular maintenance, and more.
------
Overall, the global market size for fleet management solutions, which includes software, is $3.21 billion. This market is growing at a rate of 22.88%, but software specifically is expected to grow at a CAGR of 21.2%.
Thank you for asking Wonder! Please let us know if we can help you with anything else!