Europe - Fleet Management Market by Vehicle Type and Technology - Forecast and Analysis 2023-2027

Published: Sep 2023

Pages: 148

SKU: IRTNTR43563

Snapshot

Europe - Fleet Management Market 2023-2027:

The Europe - fleet management market size is estimated to grow at a CAGR of 19.69% between 2022 and 2027. The market size is forecast to increase by USD 16.08 billion. The growth of the market depends on several factors, including a growing focus on the efficient use of data to enhance fleet management, the integration of video-based safety systems in fleet management, and the booming e-commerce industry. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

This Europe fleet management market report extensively covers market segmentation by vehicle type (commercial fleets and passenger cars), technology (commercial telematics hardware, software, and connectivity technologies), and geography(Germany, France, UK, and Rest of Europe). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Europe Fleet Management Market During the Forecast Period?

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Europe Fleet Management Market Dynamic

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Driver

The booming e-commerce industry is the key factor driving the growth of the market. The growing demand for efficient last-mile delivery services is driving the growth of fleet management in Europe. With consumers desiring faster deliveries, fleet operators are extending their fleets to accommodate larger volumes. To meet the urgent need, route optimization technologies are used to provide the fastest and most cost-effective delivery routes.

In Europe, for instance, organizations such as the DPD and Hermes use real-time tracking systems to provide customers with up-to-date information on actual delivery locations and times. As the e-commerce market grows, this trend highlights the applicability of fleet management solutions to reduce delivery times, reduce operating costs, and improve customer satisfaction. The booming e-commerce industry will greatly boost the demand for fleet management and thus drive the growth of the market during the forecast period.

Trend

An increase in EV adoption is the primary trend in the market. Government incentives aimed at reducing emissions and promoting sustainable transport are essentially the driving force behind this movement. European governments such as Germany and France have introduced significant subsidies and tax breaks for the introduction of EVs, encouraging vehicle operators to add EVs to their fleets. Hence, there is an increasing demand for specialized EV vehicle management solutions.

Furthermore, companies like Geotab and ChargePoint are at the forefront of EV fleet management systems, helping companies to successfully manage their EV fleets while maximizing cost savings and environmental advantages. This trend is likely to continue as European countries step up efforts to mitigate climate change and reduce their dependence on fossil fuels. Therefore, increasing the introduction and acquisition of electric vehicles is expected to propel the growth of the market during the forecast period.

Challenge

Increasing data security and privacy issues with fleet management is a challenge that affects the growth of the market. Complying with the General Data Protection Regulation (GDPR) first requires careful handling of personal and vehicle-related data. The priority is to strike the right balance between data collection for operational insight and driver privacy.

Additionally, interconnected systems are vulnerable to security breaches, which can lead to the loss of critical data, thus increasing the potential for cyber-attacks. High-profile incidents, such as the recent data breach at a major fleet management company, highlight the importance of strengthening cybersecurity measures to thwart potential attacks. Therefore, data protection and privacy concerns are expected to impede the growth of the market during the forecast period.

Europe Fleet Management Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Europe Fleet Management Market Customer Landscape

Who are the Major Europe Fleet Management Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AB Volvo: The company offers fleet management such as Volvo Connect software.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What are the Largest-Growing Segments in the Europe Fleet Management Market?

Vehicle Type Segment Analysis

The commercial fleets segment is estimated to witness significant growth during the forecast period. Commercial fleets are the major players in the Europe - fleet management market and represent a changing situation. This segment includes a wide range of vehicle types such as trucks, vans, and specialty vehicles. The featured market is growing rapidly due to the expansion of e-commerce, the growing need for efficient last-mile delivery, and stricter environmental laws.

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The commercial fleets segment was the largest segment and was valued at USD 5.23 billion in 2017. Fleet management software is in high demand to streamline operations, improve route planning, and ensure regulatory compliance. Telematics, GPS tracking, and vehicle diagnostic technology are being used more and more, resulting in increased efficiency and reduced costs. In addition, sustainability and electric commercial vehicle initiatives are changing the market, and companies are increasingly integrating green solutions into their vehicles to meet environmental goals and requirements. Thus, the demand for commercial fleets is expected to grow, boosting the growth of the focus market during the forecast period.

Technology Segment Analaysis

Based on technology, the market has been segmented into commercial telematics hardware, software, and connectivity technologies. The commercial telematics hardware?segment will account for the largest share of this market.?This segment includes sensors, displays, RFID, networking, and connectivity devices. The European fleet management market is rising owing to the growing adoption of various sensors integrated into fleets for different functions. The increasing use of electronic systems such as sensors in fleets also leads to increased acceptance of fleet management. Additionally, the integration of RFID into fleet management plays a key role in fleet management applications. Demand for fleet management systems is expected to increase during the forecast period, owing to rising demand for RFID solutions.

Segment Overview

The Europe fleet management market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

Vehicle Type Outlook (USD Billion, 2017 - 2027)
- Commercial fleets
- Passenger cars

Technology Outlook (USD Billion, 2017 - 2027)
- Commercial telematics hardware
- Software
- Connectivity technologies

Region Outlook (USD Billion, 2017 - 2027)
- Europe
  - Germany
  - France
  - UK
  - Rest of Europe

Europe Fleet Management Market Scope
Report Coverage	Details
Page number	148
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 19.69%
Market growth 2023-2027	USD 16.08 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	14.86
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	AB Volvo, ABAX UK Ltd., AddSecure Group AB, Aeromark Communications Ltd., AREALCONTROL GmbH, Astrata Europe BV, Bridgestone Corp., Caterpillar Inc., Fleet Complete, Frotcom International, G4S Telematix, Geotab Inc., Inseego Corp., Karooooo Ltd., Mercedes Benz Group AG, MiX Telematics Ltd., Targa Telematics S.p.A., TraXall International, Trimble Inc., and Verizon Communications Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Europe Fleet Management Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across Europe
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Europe: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ billion)

4 Historic Market Size

4.1 Fleet management market in Europe 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on fleet management market in Europe 2017 - 2021 ($ billion)

4.2 Vehicle Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Vehicle Type Segment 2017 - 2021 ($ billion)

4.3 Technology Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ billion)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Vehicle Type

6.1 Market segments
- Exhibit 29: Chart on Vehicle Type - Market share 2022-2027 (%)
- Exhibit 30: Data Table on Vehicle Type - Market share 2022-2027 (%)

6.2 Comparison by Vehicle Type
- Exhibit 31: Chart on Comparison by Vehicle Type
- Exhibit 32: Data Table on Comparison by Vehicle Type

6.3 Commercial fleets - Market size and forecast 2022-2027
- Exhibit 33: Chart on Commercial fleets - Market size and forecast 2022-2027 ($ billion)
- Exhibit 34: Data Table on Commercial fleets - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Chart on Commercial fleets - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Commercial fleets - Year-over-year growth 2022-2027 (%)

6.4 Passenger cars - Market size and forecast 2022-2027
- Exhibit 37: Chart on Passenger cars - Market size and forecast 2022-2027 ($ billion)
- Exhibit 38: Data Table on Passenger cars - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
- Exhibit 40: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Vehicle Type
- Exhibit 41: Market opportunity by Vehicle Type ($ billion)
- Exhibit 42: Data Table on Market opportunity by Vehicle Type ($ billion)

7 Market Segmentation by Technology

7.1 Market segments
- Exhibit 43: Chart on Technology - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Technology - Market share 2022-2027 (%)

7.2 Comparison by Technology
- Exhibit 45: Chart on Comparison by Technology
- Exhibit 46: Data Table on Comparison by Technology

7.3 Commercial telematics hardware - Market size and forecast 2022-2027
- Exhibit 47: Chart on Commercial telematics hardware - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Data Table on Commercial telematics hardware - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Chart on Commercial telematics hardware - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Commercial telematics hardware - Year-over-year growth 2022-2027 (%)

7.4 Software - Market size and forecast 2022-2027
- Exhibit 51: Chart on Software - Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Data Table on Software - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Chart on Software - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Software - Year-over-year growth 2022-2027 (%)

7.5 Connectivity technologies - Market size and forecast 2022-2027
- Exhibit 55: Chart on Connectivity technologies - Market size and forecast 2022-2027 ($ billion)
- Exhibit 56: Data Table on Connectivity technologies - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Chart on Connectivity technologies - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Connectivity technologies - Year-over-year growth 2022-2027 (%)

7.6 Market opportunity by Technology
- Exhibit 59: Market opportunity by Technology ($ billion)
- Exhibit 60: Data Table on Market opportunity by Technology ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 62: Chart on Market share by geography - 2022-2027 (%)
- Exhibit 63: Data Table on Market share by geography - 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 64: Chart on Geographic comparison
- Exhibit 65: Data Table on Geographic comparison

9.3 Germany - Market size and forecast 2022-2027
- Exhibit 66: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 67: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 68: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 69: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.4 UK - Market size and forecast 2022-2027
- Exhibit 70: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 71: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 73: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.5 France - Market size and forecast 2022-2027
- Exhibit 74: Chart on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 75: Data Table on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 77: Data Table on France - Year-over-year growth 2022-2027 (%)

9.6 Rest of Europe - Market size and forecast 2022-2027
- Exhibit 78: Chart on Rest of Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 79: Data Table on Rest of Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Chart on Rest of Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 81: Data Table on Rest of Europe - Year-over-year growth 2022-2027 (%)

9.7 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ billion)
- Exhibit 83: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 84: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 85: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 86: Overview on factors of disruption

11.4 Industry risks
- Exhibit 87: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 88: Vendors covered

12.2 Market positioning of vendors
- Exhibit 89: Matrix on vendor position and classification

12.3 AB Volvo
- Exhibit 90: AB Volvo - Overview
- Exhibit 91: AB Volvo - Business segments
- Exhibit 92: AB Volvo - Key news
- Exhibit 93: AB Volvo - Key offerings
- Exhibit 94: AB Volvo - Segment focus

12.4 ABAX UK Ltd.
- Exhibit 95: ABAX UK Ltd. - Overview
- Exhibit 96: ABAX UK Ltd. - Product / Service
- Exhibit 97: ABAX UK Ltd. - Key news
- Exhibit 98: ABAX UK Ltd. - Key offerings

12.5 Aeromark Communications Ltd.
- Exhibit 99: Aeromark Communications Ltd. - Overview
- Exhibit 100: Aeromark Communications Ltd. - Product / Service
- Exhibit 101: Aeromark Communications Ltd. - Key offerings

12.6 AREALCONTROL GmbH
- Exhibit 102: AREALCONTROL GmbH - Overview
- Exhibit 103: AREALCONTROL GmbH - Product / Service
- Exhibit 104: AREALCONTROL GmbH - Key offerings

12.7 Astrata Europe BV
- Exhibit 105: Astrata Europe BV - Overview
- Exhibit 106: Astrata Europe BV - Product / Service
- Exhibit 107: Astrata Europe BV - Key offerings

12.8 Bridgestone Corp.
- Exhibit 108: Bridgestone Corp. - Overview
- Exhibit 109: Bridgestone Corp. - Business segments
- Exhibit 110: Bridgestone Corp. - Key news
- Exhibit 111: Bridgestone Corp. - Key offerings
- Exhibit 112: Bridgestone Corp. - Segment focus

12.9 Caterpillar Inc.
- Exhibit 113: Caterpillar Inc. - Overview
- Exhibit 114: Caterpillar Inc. - Business segments
- Exhibit 115: Caterpillar Inc. - Key offerings
- Exhibit 116: Caterpillar Inc. - Segment focus

12.10 Fleet Complete
- Exhibit 117: Fleet Complete - Overview
- Exhibit 118: Fleet Complete - Product / Service
- Exhibit 119: Fleet Complete - Key offerings

12.11 G4S Telematix
- Exhibit 120: G4S Telematix - Overview
- Exhibit 121: G4S Telematix - Product / Service
- Exhibit 122: G4S Telematix - Key offerings

12.12 Geotab Inc.
- Exhibit 123: Geotab Inc. - Overview
- Exhibit 124: Geotab Inc. - Product / Service
- Exhibit 125: Geotab Inc. - Key news
- Exhibit 126: Geotab Inc. - Key offerings

12.13 Inseego Corp.
- Exhibit 127: Inseego Corp. - Overview
- Exhibit 128: Inseego Corp. - Product / Service
- Exhibit 129: Inseego Corp. - Key offerings

12.14 MiX Telematics Ltd.
- Exhibit 130: MiX Telematics Ltd. - Overview
- Exhibit 131: MiX Telematics Ltd. - Business segments
- Exhibit 132: MiX Telematics Ltd. - Key offerings
- Exhibit 133: MiX Telematics Ltd. - Segment focus

12.15 Targa Telematics S.p.A.
- Exhibit 134: Targa Telematics S.p.A. - Overview
- Exhibit 135: Targa Telematics S.p.A. - Product / Service
- Exhibit 136: Targa Telematics S.p.A. - Key offerings

12.16 Trimble Inc.
- Exhibit 137: Trimble Inc. - Overview
- Exhibit 138: Trimble Inc. - Business segments
- Exhibit 139: Trimble Inc. - Key offerings
- Exhibit 140: Trimble Inc. - Segment focus

12.17 Verizon Communications Inc.
- Exhibit 141: Verizon Communications Inc. - Overview
- Exhibit 142: Verizon Communications Inc. - Business segments
- Exhibit 143: Verizon Communications Inc. - Key offerings
- Exhibit 144: Verizon Communications Inc. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 145: Inclusions checklist
- Exhibit 146: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 147: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 148: Research methodology
- Exhibit 149: Validation techniques employed for market sizing
- Exhibit 150: Information sources

13.5 List of abbreviations
- Exhibit 151: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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