According to a new report, published by KBV research, The Global Fleet Management Market size is expected to reach $78.36 billion by 2031, rising at a market growth of 13.9% CAGR during the forecast period.
Fleet management solutions are also crucial in maintaining vehicle safety and operational efficiency in MaaS. Predictive maintenance tools, powered by IoT sensors and telematics, alert operators about potential issues before breakdowns occur, reducing downtime and ensuring safety. Companies like Lime and Bird use such systems to maintain their scooter and bike fleets.
The Solution segment is experiencing a CAGR of 13 % during the forecast period. Businesses increasingly rely on telematics, GPS tracking, route optimization, fuel management, and driver behavior monitoring solutions to improve efficiency, enhance safety, and ensure regulatory compliance. The surge in e-commerce and logistics, coupled with the need for real-time data analytics, has further fueled the adoption of these solutions.
The Commercial Fleet segment led the maximum revenue in the Global Fleet Management Market by Fleet Type in 2023, thereby, achieving a market value of $56.0 billion by 2031. The rapid growth of e-commerce and global supply chains has increased the need for real-time vehicle tracking, route optimization, fuel efficiency monitoring, and predictive maintenance solutions. Additionally, stringent government regulations on fleet safety, emissions control, and compliance monitoring have accelerated the adoption of advanced fleet management technologies.
The Transportation & Logistics segment is growing at a CAGR of 12.6 % during the forecast period. Fleet management solutions are critical in optimizing logistics operations, improving route planning, reducing fuel consumption, and ensuring timely deliveries. With the rise of e-commerce and the growing need for last-mile delivery services, logistics companies have increasingly adopted advanced telematics, GPS tracking, and route optimization tools to manage complex distribution networks.
Full Report: https://www.kbvresearch.com/fleet-management-market/
The North America region dominated the Global Fleet Management Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $25.6 billion by 2031. The Europe region is anticipated to grow at a CAGR of 13.5% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 14.7% during (2024 - 2031).
By Component
By Fleet Type
By Vertical
Unique Offerings 
