Technavio has been monitoring the fleet management market in Europe and it is poised to grow by USD 6.46 billion during 2020-2024, progressing at a CAGR of over 14% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Fleet Management Market in Europe 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
What was the size of the fleet management market in Europe in 2019?
Technavio says that the value of the market was USD 6.95 billion in 2019 and it is projected to reach USD 13.41 billion by 2024.
At what rate is the market projected to grow?
Growing at a CAGR of over 14%, the incremental growth of the market is anticipated to be USD 6.46 billion during the forecast period.
Who are the top players in the market?
AB Volvo, ABAX UK Ltd., Astrata Group, Bridgestone Corp., Caterpillar Inc., Daimler AG, Fleet Complete, MiX Telematics International (Pty) Ltd., Trimble Inc., and Verizon Communications Inc. are some of the major market participants.
What are the key market drivers and challenges?
Focus on efficient use of data to enhance fleet management and integration of video-based safety systems in fleet management are the major factors driving the market. However, the high cost of on-premise software restraints the market growth.
How big is the Rest of Europe market?
The market in the Rest of Europe region was valued at USD 3.61 billion in 2019 and it is anticipated to grow to USD 6.52 billion by 2024.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB Volvo, ABAX UK Ltd., Astrata Group, Bridgestone Corp., Caterpillar Inc., Daimler AG, Fleet Complete, MiX Telematics International (Pty) Ltd., Trimble Inc., and Verizon Communications Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Focus on efficient use of data to enhance fleet management has been instrumental in driving the growth of the market.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Fleet Management Market in Europe 2020-2024: Segmentation
Fleet Management Market in Europe is segmented as below:
Commercial Telematics Hardware
Rest of Europe
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Fleet Management Market in Europe 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The fleet management market in Europe report covers the following areas:
Fleet Management Market Size in Europe
Fleet Management Market Trends in Europe
Fleet Management Market Analysis in Europe
This study identifies the integration of video-based safety systems in fleet management as one of the prime reasons driving the fleet management market growth in Europe during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Fleet Management Market in Europe 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist fleet management market growth in Europe during the next five years
Estimation of the fleet management market size in Europe and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the fleet management market in Europe
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of fleet management market vendors in Europe
Table of Contents:
Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five Forces Summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Technology
Comparison by Technology
Commercial telematics hardware - Market size and forecast 2019-2024
Software - Market size and forecast 2019-2024
Connectivity technologies - Market size and forecast 2019-2024
Market opportunity by Technology
Germany - Market size and forecast 2019-2024
UK - Market size and forecast 2019-2024
France - Market size and forecast 2019-2024
Rest of Europe - Market size and forecast 2019-2024
Market opportunity by geography
Volume driver - Demand led growth
Market positioning of vendors
ABAX UK Ltd.
MiX Telematics International (Pty) Ltd.
Verizon Communications Inc.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200806005620/en/