Fleet Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Fleet Management Market is poised for significant growth driven by the adoption of advanced telematics, IoT solutions, and electric vehicles. Key opportunities include route optimization, fuel management, and AI-driven predictive maintenance. Challenges like cybersecurity risks and high upfront telematics costs may impede smaller enterprises.

Dublin, Jan. 26, 2026 (GLOBE NEWSWIRE) -- The "Fleet Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031" has been added to ResearchAndMarkets.com's offering.

The Global Fleet Management Market is projected to experience substantial growth, expanding from USD 33.17 Billion in 2025 to USD 75.69 Billion by 2031, representing a CAGR of 14.74%

Fleet management involves using integrated software and hardware solutions to oversee and maintain commercial vehicle assets for enhanced operational efficiency. The market is largely driven by the urgent need to lower costs through route optimization and fuel management, alongside strict government requirements regarding electronic logging devices. The magnitude of this sector is highlighted by data from the American Trucking Associations, which reported that trucks transported 11.27 billion tons of domestic freight in 2024.

However, the market faces a notable obstacle regarding the susceptibility of connected fleet systems to cyber threats. As operations become more digitized, the risk of unauthorized access to sensitive telematics data causes apprehension among potential users. Additionally, the substantial upfront investment needed for advanced telematics infrastructure acts as a deterrent for smaller enterprises, preventing them from adopting comprehensive management solutions and restricting broader market penetration in cost-sensitive sectors.

Market Drivers

The swift adoption of advanced telematics and IoT solutions is transforming fleet operations by offering detailed visibility into driver behavior and vehicle performance. Operators are deploying complex sensor-based systems and video telematics to minimize risks and improve safety. These technologies enable real-time coaching and accident reconstruction, which significantly reduces liability costs while ensuring adherence to evolving safety standards. Geotab's May 2024 'State of Commercial Transportation' report reinforces this trend, noting that fleets using integrated safety features saw a 40% decrease in collision rates, proving the practical safety value of connected infrastructure.

Simultaneously, the shift toward electric vehicles (EVs) and green initiatives is driving organizations to upgrade their management platforms to address specific range and charging constraints. With governments enforcing stricter emission regulations, logistics providers are actively moving from internal combustion engines to electrified options. The International Energy Agency's 'Global EV Outlook 2024' (April 2024) indicated that global sales of electric light commercial vehicles rose by over 50% in 2023, marking a clear transition to sustainable transport. To manage this shift profitably, companies rely on data insights; Verizon Communications Connect Group found in 2024 that nearly 47% of surveyed fleets realized a positive ROI from GPS tracking in under a year, confirming the financial benefits of modern tools.

Market Challenges

The significant initial capital required for advanced telematics infrastructure serves as a major barrier to the Global Fleet Management Market's growth. Implementing complete hardware and software solutions demands heavy investment, which limits adoption among small and medium-sized enterprises with restricted financial liquidity. When fleet operators must choose between procuring essential assets and funding digital upgrades, the market encounters a natural ceiling. This financial strain is especially severe in budget-conscious sectors where thin profit margins make investing in new technology systems a difficult strategic choice, thereby slowing overall market penetration.

Recent industry cost analyses quantify this economic pressure. Data from the American Transportation Research Institute in 2025 showed that the marginal cost of trucking, excluding fuel, reached a record high of $1.779 per mile in the previous year. Furthermore, the analysis highlighted an 8.3% increase in truck and trailer lease or purchase payments, rising to $0.390 per mile. These increasing baseline operational expenses significantly reduce the discretionary budget available for fleets to invest in management platforms. As the fundamental costs of equipment survival climb, the financial capacity to integrate additional monitoring systems diminishes, directly hampering market expansion.

Market Trends

The adoption of AI-Driven Predictive Maintenance is revolutionizing fleet strategies by shifting the focus from reactive repairs to proactive asset health management. Operators are utilizing advanced algorithms to analyze real-time sensor data and forecast mechanical issues before they cause critical failures, thereby maximizing vehicle uptime and minimizing unnecessary service intervals. This technological shift is particularly crucial for controlling variable operational costs and managing aging fleets. As noted in Samsara's 'State of Connected Operations' report from June 2024, 51% of physical operations leaders surveyed identified predictive maintenance as a top priority for their artificial intelligence investments.

At the same time, the market is seeing a decisive shift toward OEM-Embedded Telematics Solutions, reducing the need for aftermarket hardware installations. Vehicle manufacturers are increasingly standardizing factory-installed connectivity modules, enabling fleet managers to access high-fidelity diagnostic data and subscription-based tools immediately upon delivery. This integration simplifies the onboarding process and ensures seamless data compatibility across mixed fleets. Illustrating this momentum, Forbes reported in June 2024 (in 'Ford Pro Becomes The Engine Pulling Ford Into The Connected Future') that Ford Pro saw a 46% year-over-year increase in paid commercial software subscriptions, surpassing 500,000 active units.

Key Players Profiled in the Fleet Management Market:

• Trimble Inc .
• Verizon Communications Connect Group
• Geotab Inc.
• Samsara Networks, Inc.
• Teletrac Navman, LLC
• MiX Telematics Limited
• Fleet Complete, Inc.
• TomTom N.V.
• Orbcomm Inc .
• AT&T .

Report Scope: In this report, the Global Fleet Management Market has been segmented into the following categories:

Fleet Management Market, by Vehicle Type:

• Heavy Commercial Vehicle
• Aircraft
• Railway
• Watercraft
• Light Commercial Vehicle

Fleet Management Market, by Component:

• Solution
• Service

Fleet Management Market, by Communication Technology:

• GNSS
• Cellular System

Fleet Management Market, by Industry:

• Retail
• Government
• Transportation and Logistics
• Automotive
• Others

Fleet Management Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Key Attributes:

Report Attribute	Details
No. of Pages	180
Forecast Period	2025 - 2031
Estimated Market Value (USD) in 2025	$33.17 Billion
Forecasted Market Value (USD) by 2031	$75.69 Billion
Compound Annual Growth Rate	14.7%
Regions Covered	Global

For more information about this report visit https://www.researchandmarkets.com/r/ejw5fj

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• Fleet Management Market

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