The global fleet and transportation management system for transportation and logistics market was valued at $24.9 billion in 2021, and is projected to reach $64.9 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031.
The fleet and transportation management system for transportation and logistics market is segmented into Application and Component.
Growing steadily as technology progresses, fleet and transportation management systems seemingly flourished as one of the most helpful transportation solutions in supply chain management. Fleet and transportation management systems are designed to streamline the transportation process, a subpart of the supply chain. It deals with monitoring, organizing, managing, and handling any matter related to the transportation of the products right from placing the order until the final delivery. The popularity of fleet and transportation management system platform is continuously growing and businesses are now using the platform for managing their transportation network. With the increasing complexities of logistics and transportation as the business grows, the need for fleet and transportation management systems can never be exaggerated. Technically, the fleet and transportation management system enable a better transactional and communication system that allows the users to leverage from vast real-time data and make easier decisions, plan and strategize for optimal transportation solutions.
Fleet and transportation management systems equip the shipper with all necessary and advanced tools that play a vital role in monitoring, organizing and managing the shipment process. The platform can be leveraged to handle several types of shipments all under a single dashboard allowing control from a centralized location. It resolves and mitigates all unnecessary stress and dubieties that might occur due to unknowingness.
Continuous technological advancements across transportation & logistics sector, growth in E-Commerce industry coupled with government regulations for vehicle telematics are some of factors propelling the growth of fleet and transportation management system.
However, lack of uninterrupted & seamless internet connectivity and high upfront cost are some of the prominent factors that could hamper the growth potential of the fleet and transportation management system for transportation and logistics market. Furthermore, strengthening communication network coupled with rise in concerns about fleet safety are expected to create numerous opportunities for the industry players in the future.
The fleet and transportation management system for transportation and logistics market is segmented on the basis of application, component, and region. By application, the market is further categorized into scheduling, routing and tracking, ADAS, fuel management, telematics and others. On the basis of component, the market is segmented as solutions and services. By region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
The prominent players operating in the fleet and transportation management system for transportation and logistics market are Azuga Inc., E2open Parent Holdings Inc., Element Fleet Management Corp, Geotab Inc., Holman Inc., MercuryGate International Inc., Solera Holdings LLC, Trimble Inc., Verizon Communications Inc., Wheels LLC, SAP SE, and Samsera Inc.
Ongoing technological advancements across transportation & logistics sector
The transportation & logistics acquires a significant share within the entire supply chain, and it physically connects businesses to its supply chain partners, such as suppliers and customers, thereby increasing customer satisfaction and profit margin. Rise in integration of technology within the transportation sector has created unprecedented opportunities for operational efficiencies, sustainability, new business models, and richer customer experiences. Advanced technologies, such as Internet of Things (IoT), big data, and artificial intelligence (AI), and their predictive capabilities result in creation of smarter and more efficient transportation operations.
Emerging technologies such as AI and machine learning, have enabled back-office automation, predictive operations, intelligent transportation assets, and new customer experience models. These technologies primarily aim to digitize the entire end-to-end transportation process of order management, contracting, delivering, and payment. Thus, digital innovation services right from connected warehouses to autonomous last-mile delivery services has widened the scope of transportation management system, which in turn is set to increase the productivity performance by enabling innovation and reducing the costs of a range of business processes, and thereby creating a strong foundation for fleet and transportation management market
Rise in concerns about fleet safety
Safety is one of the top work challenges faced by fleet operators. Thus, due to the disastrous impact of accidents and other emergencies, the demand for technologically innovative applications such as alarm systems, real-time notification devices, driver behavior monitoring systems, and other AI-based software has increased. Furthermore, integrating IoT & telematics in the automotive industry fetched key innovations for vehicle & driver’s safety creates wider scope for the growth of the fleet and transportation management system for transportation and logistics industry.
Moreover, it includes connected fleet technology such as collision avoidance system to improve fleet safety, remote diagnostics to access real-time vehicle services, in-cab video cameras to protect fleets against false claims, and other sensor-based applications to transform the fleet services hub by integrating more technology & robust virtual solutions.
In January 2021, Altrad Services UK announced a strategic partnership with Trakm8, a recognized leader in telematics data, to improve safety across fleet using Trakm8 technology and made significant improvements to combat poor driving & blowout best practices throughout the fleet drivers. Hence, such advancements in technology concerning fleet & driver’s safety foster fleet tracking products in the fleet and transportation management market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fleet and transportation management system for transportation and logistics market analysis from 2021 to 2031 to identify the prevailing fleet and transportation management system for transportation and logistics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the fleet and transportation management system for transportation and logistics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global fleet and transportation management system for transportation and logistics market trends, key players, market segments, application areas, and market growth strategies.
Fleet and Transportation Management System for Transportation and Logistics Market Report Highlights
| Aspects | Details |
 By Application |
|
 By Component |
|
 By Region |
|
 Key Market Players | Wheels LLC, E2open Parent Holdings Inc, Azuga Inc, Solera Holdings LLC, MercuryGate International Inc, Trimble Inc, Verizon Communications Inc, Holman Inc, Element Fleet Management Corp, Geotab Inc |
Analyst Review
The global fleet and transportation management system for transportation and logistics market is expected to witness significant growth. The current business scenario has witnessed an upsurge in the adoption of novel technology in developed as well as developing regions. Market players have adopted technological tools such as GPS tracking devices, route optimization, and driver management support & communication that allow the monitoring & control of fleets in charge of cargo transportation. Moreover, it ensures the smooth operation of vehicular assets by reducing maneuver costs, improving operational performance, and ensuring proper compliance to manage, organize, and coordinate fleet operations.
Furthermore, the significant adoption of fleet and transportation management is observed in various industries such as government, transportation, education, construction, retail, oil & gas, and others. Meanwhile, the implementation of telematics & fleet and transportation management apps enhanced the fleet operations through major compensations such as enhanced performance & productivity, improved customer assistance, and accuracy in driver & vehicle management. Moreover, the board of directors of Bridgestone Americas signed an agreement with Azuga Holdings, Inc., a fleet and transportation management platform to offer comprehensive solutions such as real-time vehicle operations insights & data analytics to improve safety, efficiency, and enhance customer services.
In 2020, Tata Motors announced the launch of Tata Motors Fleet Edge – a next-generation connected vehicle solution to access a large amount of data generated by the Telematics Control Unit (TCU) & offers real-time insights for vehicle tracking, driver’s behavior, and real-time fuel efficiency for fleet owners & managers to take informed decisions.
Factors such as need for operational competency in fleet and transportation management, mandatory government regulations toward vehicle maintenance & tracking, rise in concerns about fleet safety, and increase in the adoption of wireless technology, owing to their low cost & availability supplement the market's growth across the globe. However, factors such as cost sensitivity among local players and lack of uninterrupted & seamless internet connectivity hamper the market's growth around the world. Moreover, factors such as the development of transportation in the logistics industry, the adoption of intelligent transport systems, and the strengthening of communication networks create ample opportunities for the market's growth during the forecast period.
Among the analyzed regions, Asia-Pacific is the highest revenue contributor, followed by Europe, North America, Latin America and Middle East. On the basis of forecast analysis, Asia-Pacific is expected to maintain its lead during the forecast period, owing to increased inclination for fleet and transportation management & tracking across the region.
Scheduling, Routing and Tracking is the leading application of Fleet and Transportation Management System for Transportation and Logistics Market
Asia-Pacific is the largest regional market for Fleet and Transportation Management System for Transportation and Logistics
The global fleet and transportation management system for transportation and logistics market was valued at $24,846.6 million in 2021, and is projected to reach $64,886.9 million by 2031, registering a CAGR of 10.3% from 2022 to 2031.
Verizon Communications Inc, SAP SE, Element Fleet Management Corp, Trimble Inc. and Geotab Inc are some of the prominent players accounts for the considerable share in the overall revenue pie in the target market
Effective integration of advanced telematics solutions in commercial fleet is one of the prominent trends in global fleet and transportation management system for transportation and logistics market
Loading Table Of Content...
