Middle East and Africa Fleet Management Market Overview:
Middle East and Africa
Fleet Management Market industry is projected to grow from USD 17.6 Billion in
2023 to USD 40.6 Billion by 2032, at a CAGR of 11%
The worldwide Middle East and Africa Fleet
Management Market size projects revenue and growth estimates for the projected
period. A thorough explanation of the COVID-19 epidemic and its repercussions
on the industry is provided. The practice of overseeing an organization's
fleets is known as fleet management. It makes use of software to monitor
assets, driver behavior, and vehicle diagnostics. Waste management, oil and
gas, construction, chemicals, mining, retail and logistics, utilities, and both
public and private transportation are among the industries in which it is used.
Over the course of the
forecast period, the global Middle East and Africa Fleet Management Market is
anticipated to rise at a CAGR of 22%. The market is mostly driven by the
ongoing need for logistics and transportation, pollution reduction programs,
connection problems, and fluctuating fuel prices. Fleet management software may
be used by organizations to track their vehicles and guarantee the security of
its drivers. The market demand might be considerably increased by integrating
electronic logging devices in fleets to comply with current regulations and the
growth of smart transportation.
Fleet management software
demand may increase if regulations requiring drivers to get more sleep and
breaks are enforced. This can guarantee operational effectiveness and save
overall expenses. In the upcoming years, the industry may benefit from
sustainability measures combined with real-time notifications for management
and GPS monitoring for vehicle location. The market may benefit from the
integration of big data and artificial intelligence to access fleets and their
routes in real-time.
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Middle East and Africa
Fleet Management Market Competitive Outlook
Trimble Inc., I.D.
Systems, Inc., Verizon Telematics Inc., Cisco Systems, Inc., WorkWave LLC, Fleetmatics
Group PLC, and Zonar Systems, Inc. are key players of the global Middle East
and Africa Fleet Management Market. Acquisitions are the primary strategy
undertaken by players for gaining the competitive edge in the market. Recently,
Infobric acquired TelliQ AB, a Swedish telematics company, in 2020. The large
number of clients in the construction industry by the former provides the
acquisition a new path by engaging in a smart manner and integration of fleet
management systems in vehicles.
Fleet Management Segmentation
·
By connectivity type, it is divided into cellular system and
satellite navigation.
·
By deployment type, it is segmented into cloud, on-premises,
and hybrid. The cloud segment is expected to dominate the market owing to its
easy integration and cost-efficiency.
·
By services type, it is segmented into professional services,
managed services, and integration and deployment services. The professional
services segment can lead in the market owing to presence of various logistics
and transportation companies and mandatory laws for curbing emissions.
·
By management type, it is segmented into operation
management, asset management, and driver management.
Fleet Management Regional Analysis
The North American and
Europe regions are expected to dominate the market due to stringent norms on
vehicle emissions and huge innovations in the fleet management technology
deployment. Sustainability approaches by countries in these regions combined
with modernization of infrastructure for monitoring fleet vehicles can drive
the demand for Middle East and Africa Fleet Management Market. Presence of
reputed logistics companies and focus on efficiency and cost savings can bode
well for the market. In order to encourage sustainability, the state of
California has mandated its vehicles to be emission-free by 2035.
The Asia Pacific region is
expected to be the fastest growing region with increased opportunities in
countries of China and India. Large scale adoption of web and mobile based
business services in these countries is the primary driver for the market in
the region. Incorporation of low-emission vehicles and efforts for
electrification of transport infrastructure can drive the global Middle East
and Africa Fleet Management Market demand.
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