Authored By: Sarah
23 Aug 2023

Fleet Management Market In Europe to exhibit growth at a CAGR of  16.72% through 2021-2025

The fleet management market in Europe is all set to become a billion-dollar industry with forecasted revenue growth of  USD 8.78 billion from 2020 to 2025, followed by a market advancement at a CAGR of 16.72%. The increasing focus on efficient usage of data to enhance fleet management services with an improved understanding of the fleet's individual needs is the primary growth driver of Europe's Fleet Management Market.

As per Technavio's analyst, "the availability of big data analytics will allow fleet managers to access, analyze, and strategize fleet operations to attain maximum asset utilization for optimum operating efficiency, thus making a significant impact on market demand for fleet management across Europe"

Navigating through the Segment-wise classificationTechnavio’s report captures the Fleet Management Market In Europe as per segmentation depending on several factors be it type, fastest-growing segment, fastest-growing region, or the overall geography of the market landscape.

  • The fleet management market in Europe is segmented by technology (commercial telematics hardware, software, and connectivity technologies) and geography (Germany, UK, France, and Rest of Europe). 
  • 45% of the market's growth will originate from the Rest of Europe during the forecast period with Germany, UK, France, and Italy being the key markets for fleet management in Europe.
  • Fleet management in the Rest of Europe is growing due to the presence of fleet management solution providers. The key drivers for fleet management solutions in Eastern Europe and Central Europe include cost reductions related to fuel savings and regulatory developments.

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Fleet Management Market in Europe Segment-wise Classification at a Glance 

Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus segment-wise.Request for our sample report on Fleet Management Market in Europe

Core Companies: When it comes to the core companies of the Fleet Management Market In Europe it is observed that the market in Europe is fragmented and the organizations are deploying growth strategies such as technological innovations, and partnerships among each other and service providers to compete in the market.

Some of the organizations worth mentioning are 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., etc.

Organizations like AB Volvo offers a 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. In February 2020, the company launched the Volvo FH featuring a re-imagined cab, innovative safety features, and a driver-focused working environment. Request for a sample report for all the insights.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of almost 16.72%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 8.78 bn through 2021-2025.

  3. What is a key factor driving this market?
    Growing focus on the efficient use of data to enhance fleet management will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    Germany, the UK, France, and Rest of Europe are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    45% growth will originate from Rest of the Europe
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