According to a 2023 report from Global Trade Magazine, the global market for fleet management is projected to reach a value of $13,868.2 million. This market is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.4% from 2023 to 2033 due to increasing demand from various end-use industries worldwide for bettering transportation network operations. If this growth trend continues, the market value could reach $37,300.17 million by 2033.
Several factors are contributing to this market growth. Key among them are rising concerns about fleet safety, government regulations mandating vehicle maintenance and tracking, the need for operational efficiency in fleet management, and the surge in the use of low-cost, readily available wireless technology. Continue reading “Navigating the Global Fleet Management Market: Trends, Opportunities, and Predictions”