US Fleet Management Market

According to a research report "US Fleet Management Market Size, Share, Growth Analysis, by Component (Services, Solutions (Operations Management, Vehicle Maintenance & Diagnostics, Performance Management)), Fleet Type (Commercial Fleets, Passenger Vehicles) - Global Forecast to 2028" published by MarketsandMarkets, the US fleet management market is expected to reach USD 15.2 billion in 2028 from USD 10.0 billion in 2024, at a CAGR of 11.3% during the forecast period.

The US fleet management industry is witnessing a huge transformation due to advancements in technology and the growing imperative for operational effectiveness. Cloud-based deployment of fleet tracking solutions is gaining a strong momentum. Fleet tracking and monitoring solutions deployed on-premises might not yield these benefits. Therefore, vendors are increasingly taking advantage of cloud technologies to deliver scalable solutions responding to evolving customer requirements. In addition to the growing US customer base, the evolution of mobile computing technology is helping fleet management businesses to provide high performance. Major market participants in this area include Geotab, Trimble, Donlen, and Verizon Connect.

The solution segment accounted for the largest share by component segment in the US fleet management market in 2024.

By solution, the US fleet management market is categorized into operations management, vehicle maintenance & diagnostics, performance management, compliance management, and fleet analytics & reporting. Growth in the US market for fleet management solutions is expected to be strong. The burgeoning telematics market, the increasing pace of digital transformation, and the introduction of 5G technology to fleet operations have been the primary growth aspects for the market in US. The upward trend reflects a growing reliance on fleet management solutions that optimize operations, comply with regulatory requirements, and maximize safety. The incorporation of AI and machine learning capabilities to provide predictive analytics and real-time monitoring will stimulate growth in this market.

The fleet tracking & Geo-fencing segment accounted for the largest share by operations management type in the US fleet management market in 2024.

By operations management, fleet tracking & Geo-fencing is set to hold the largest market share in the US fleet management market, driven by its need for real-time vehicle monitoring, enhanced operational efficiency, and improved security measures. Geofencing adoption is increasing, especially in logistics, public transportation and construction, where firms establish virtual borders to facilitate security, delivery tracking. Benefits to U.S. companies include improved route optimization, less fuel consumption, compliance with laws, and reduced theft. As companies pay increasing attention to data-driven fleet management, the role of geofencing and real-time tracking in the U.S. will become more prevalent.

Based on industry, the retail segment is expected to grow at a higher rate during the forecast period.

Increased ecommerce penetration in retail sector across US will drive demand for fleet management solutions. The retail industry comprises clothing, consumer products, and eCommerce. It has emerged as one of the most dynamic and fast-paced industries due to the emergence of new players. This sector has also witnessed tremendous growth over the years due to increased eCommerce penetration in US, along with improvements in fleet management solutions that help address enterprise demands. The major focus of retailers is on enhancing customer satisfaction, increasing customer loyalty, expanding the market, and managing transportation. Controlling the retail sector's costs is challenging with rising shipping expenses and cross-border tariffs. Fleet management solutions also provide a scalable solution to manage fleets, optimize routes, improve efficiencies, reducing costs, and increasing customer satisfaction in retail sector.

Prominent companies include Geotab (Canada), Verizon Connect (US), Trimble (US), Samsara (US), Wheels (US), Inseego (US), Solera Group (US), Verra Mobility (US). Teletrac Navman (US), Holman (US). Orbcomm (US), Zebra Technologies (US), Motive (US), GPS Insight (US), ClearpathGPS (US), Automile (US), and Via Transportation (US).

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