According to a report published by Global Trade Magazine in 2023 the worldwide fleet management market is expected to reach a value of $13,868.2 million. This growth is projected to continue at a Compound Annual Growth Rate (CAGR) of 10.4% from 2023, to 2033 driven by increasing demand from industries aiming to enhance their transportation network operations. If this upward trend persists the market value could potentially reach $37,300.17 million by 2033.
There are factors contributing to this market expansion. Notably there is a growing concern for fleet safety government regulations mandating vehicle maintenance and tracking the need for efficiency in fleet management practices and the widespread adoption of low cost wireless technology.
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