The North America Fleet Management Market is expected to witness market growth of 13.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Fleet Management Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $18.39 billion by 2031. The Canada market is experiencing a CAGR of 15.4% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 14.5% during 2024-2031.
This refers to the processes and technologies used to efficiently oversee, coordinate, and manage a company’s vehicle fleet. It encompasses various activities to ensure that commercial vehicles, such as cars, trucks, vans, ships, or planes, operate smoothly, cost-effectively, and comply with legal regulations.
The core goal of this management is to enhance the efficiency, productivity, and safety of vehicles and drivers while reducing operational costs and minimizing risks. This is achieved through various strategies and tools, including vehicle tracking, fuel management, driver monitoring, route optimization, and maintenance scheduling.
This market in North America is experiencing significant growth. The region's advanced logistics networks, technological adoption, and government initiatives are key contributors to this expansion. This industry is witnessing robust growth in the United States, largely propelled by the expansive transportation and logistics sector. The country's intricate supply chains and the necessity for efficient goods movement have led to increased adoption of these technologies. Government initiatives, such as the SmartWay Transport Partnership administered by the Environmental Protection Agency (EPA), encourage businesses to enhance fuel efficiency and reduce environmental impacts through advanced fleet management practices. Additionally, the Federal Fleet Manager Certification Program by the General Services Administration (GSA) provides training and resources to federal fleet managers, promoting best practices in fleet operations. These programs underscore the government's commitment to optimizing fleet performance and sustainability. Therefore, North America's market is poised for continued expansion.
The US market dominated the North America Fleet Management Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $18.39 billion by 2031. The Canada market is experiencing a CAGR of 15.4% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 14.5% during 2024-2031.
This refers to the processes and technologies used to efficiently oversee, coordinate, and manage a company’s vehicle fleet. It encompasses various activities to ensure that commercial vehicles, such as cars, trucks, vans, ships, or planes, operate smoothly, cost-effectively, and comply with legal regulations.
The core goal of this management is to enhance the efficiency, productivity, and safety of vehicles and drivers while reducing operational costs and minimizing risks. This is achieved through various strategies and tools, including vehicle tracking, fuel management, driver monitoring, route optimization, and maintenance scheduling.
This market in North America is experiencing significant growth. The region's advanced logistics networks, technological adoption, and government initiatives are key contributors to this expansion. This industry is witnessing robust growth in the United States, largely propelled by the expansive transportation and logistics sector. The country's intricate supply chains and the necessity for efficient goods movement have led to increased adoption of these technologies. Government initiatives, such as the SmartWay Transport Partnership administered by the Environmental Protection Agency (EPA), encourage businesses to enhance fuel efficiency and reduce environmental impacts through advanced fleet management practices. Additionally, the Federal Fleet Manager Certification Program by the General Services Administration (GSA) provides training and resources to federal fleet managers, promoting best practices in fleet operations. These programs underscore the government's commitment to optimizing fleet performance and sustainability. Therefore, North America's market is poised for continued expansion.
List of Key Companies Profiled
- AT&T Inc.
- Geotab, Inc.
- Wheels, LLC
- Masternaut Limited
- Omnitracs, LLC (Solera Holdings, Inc.)
- Trimble, Inc.
- WorkWave LLC
- Verizon Communications Inc.
- Samsara Inc.
- TomTom N.V.
Market Report Segmentation
By Component
- Solution
- Operation Management Solution
- Asset Management Solution
- Other Solution Type
- Services
- Managed Services
- Professional Services
By Fleet Type
- Commercial Fleet
- Passenger Cars
By Vertical
- Transportation & Logistics
- Retail
- Government
- Automotive
- Other Vertical
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Fleet Management Market by Component
Chapter 6. North America Fleet Management Market by Fleet Type
Chapter 7. North America Fleet Management Market by Vertical
Chapter 8. North America Fleet Management Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- AT&T Inc.
- Geotab, Inc.
- Wheels, LLC
- Masternaut Limited
- Omnitracs, LLC (Solera Holdings, Inc.)
- Trimble, Inc.
- WorkWave LLC
- Verizon Communications Inc.
- Samsara Inc.
- TomTom N.V.
Methodology
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