Global Fleet Management Market Size, Share & Trends Analysis Report By Component, By Fleet Type (Commercial Fleet and Passenger Cars), By Vertical, By Regional Outlook and Forecast, 2024 - 2031

The Global Fleet Management Market size is expected to reach $78.36 billion by 2031, rising at a market growth of 13.9% CAGR during the forecast period.

The North America segment acquired 35% revenue share in the market in 2023. The United States and Canada have well-established transportation and logistics sectors, which heavily rely on these management systems for real-time vehicle tracking, route optimization, fuel monitoring, and driver safety. Government regulations such as the Electronic Logging Device (ELD) mandate in the U.S. have significantly driven the demand for these management technologies, ensuring compliance with hours-of-service (HOS) rules and improving overall safety standards.

The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In December, 2024, Geotab, Inc. teamed up with Volvo Cars, Luxuxry Vehicle Company to integrate Volvo's vehicle data into Geotab’s MyGeotab telematics platform. This collaboration simplifies this management by eliminating the need for aftermarket hardware installations. It provides real-time vehicle metrics, enhances fleet sustainability by monitoring emissions, and enables efficient management of mixed-brand fleets. Moreover, In February, 2025, Samsara Inc. teamed up with Carahsoft, an IT Company to bring its Connected Operations Cloud to the public sector. Carahsoft will act as Samsara’s Master Government Aggregator, enabling public agencies to access Samsara’s fleet management solutions via NASPO and OMNIA contracts. This collaboration aims to improve safety, efficiency, and

Based on the Analysis presented in the KBV Cardinal matrix; Verizon Communications Inc. and AT&T Inc. are the forerunners in the Fleet Management Market. In December, 2023, AT&T Inc. announced the partnership with Rivian, an automotive company to reduce CO2 emissions by piloting Rivian’s electric vehicles (EVs). This initiative aims to enhance sustainability, improve safety, and cut costs. AT&T will also provide exclusive connectivity for Rivian cars in the U.S. and Canada, enabling smarter, safer driving. Companies such as Trimble, Inc., Samsara Inc. and Geotab, Inc. are some of the key innovators in Fleet Management Market.

Market Growth Factors

IoT integration allows fleet managers to connect vehicles, drivers, and logistics systems, enabling real-time data exchange and continuous monitoring. With IoT sensors embedded in vehicles, fleet managers gain immediate visibility into critical parameters such as location, speed, fuel levels, engine performance, and even cargo conditions. This real-time monitoring empowers businesses to make swift, informed decisions that enhance operational efficiency, improve safety, and reduce costs. Hence, these factors will aid in the expansion of the market.

Additionally, With global initiatives focused on reducing carbon emissions and promoting sustainable transportation, many businesses are incorporating EVs into their fleets. However, managing electric vehicles comes with unique challenges that require specialized these management tools. Unlike traditional internal combustion engine vehicles, EVs depend heavily on battery performance and charging infrastructure. Thus, these factors will aid in the expansion of the market.

Market Restraining Factors

However, Establishing a robust this management infrastructure requires businesses to invest heavily in hardware components such as GPS tracking devices, telematics systems, onboard diagnostic tools, and sensors. Additionally, purchasing or subscribing to advanced fleet management software platforms, often with recurring licensing fees, adds to the financial burden. Hence, the high upfront costs continue to pose a substantial challenge to the widespread adoption of these management systems, particularly among smaller enterprises.

Component Outlook

Based on component, the market is bifurcated into solution and services. The services segment procured 42% revenue share in the market in 2023. As businesses adopt complex solutions, they require specialized services for installation, integration, system customization, and ongoing technical support. Managed services have become increasingly popular, especially among companies lacking in-house technical expertise, as they offer end-to-end fleet operations management.

Fleet Type Outlook

On the basis of fleet type, the market is classified into commercial fleet and passenger cars. The passenger cars segment acquired 27% revenue share in the market in 2023. The growing integration of connected car technologies, telematics, and AI-powered fleet management platforms has enabled businesses to optimize vehicle usage, reduce operational costs, and enhance driver safety. Additionally, the rising trend of electric vehicles (EVs) and autonomous these management systems has driven demand for sophisticated fleet tracking, maintenance scheduling, and fuel efficiency solutions.

Vertical Outlook

Based on vertical, the market is segmented into transportation & logistics, government, automotive, retail, and others. The retail segment procured 21% revenue share in the market in 2023. As consumer expectations for faster deliveries and real-time tracking increase, retailers invest heavily in these management solutions to optimize logistics and distribution networks. These management tools enable retailers to improve delivery accuracy, optimize routes, monitor driver performance, and ensure on-time deliveries.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. have further propelled market growth in the region. The Europe segment recorded 31% revenue share in the market in 2023. Germany, the United Kingdom, France, and the Netherlands have been among the first to implement these management solutions in order to enhance road safety, optimize petroleum consumption, and reduce carbon emissions. Government initiatives like the European Union’s CO2 emission standards and incentives for adopting electric vehicles (EVs) have encouraged businesses to integrate advanced fleet management systems supporting sustainable practices.

Recent Strategies Deployed in the Market

• Jan-2025: Verizon Communications Inc. unveiled two new fleet management solutions: Extended View Cameras offering near-360-degree visibility, and a Driver Vehicle Inspection Report (DVIR) for streamlined compliance and maintenance. These tools enhance fleet safety, reduce liability, and improve operational efficiency. The cameras are available in the U.S., while the DVIR is available in both the U.S. and Canada.
• Jan-2025: Samsara Inc. announced the partnership with Stellantis, an automobile corporation to offer hardware-free access to real-time vehicle data, enhancing fleet management across Europe. The integration of Samsara’s Connected Operations Cloud with Stellantis telematics simplifies vehicle onboarding and provides instant access to vital metrics, improving operational efficiency, safety, and sustainability for businesses.
• Oct-2024: Geotab, Inc. teamed up with EROAD, a fleet management solutions provider to offer affordable fleet management solutions for businesses in Australia and New Zealand. Their first product, EROAD Locate, provides a simple telematics solution for light commercial vehicles. This collaboration enables cost-effective access to fleet management tools, targeting fleets previously priced out of telematics.
• Sep-2024: Geotab, Inc. announced the partnership with Volkswagen Group, an Automobile Manufacturing company Info Services AG to integrate telematics data from VW, Audi, Škoda, and more into its platform. This enables seamless fleet management without retrofitting, providing real-time insights on efficiency, safety, and sustainability while ensuring secure data transmission and compliance across multiple European countries.
• Sep-2024: Trimble, Inc. unveiled Trimble Inspections, a digital Driver Vehicle Inspection Report (DVIR) solution within Trimble Instinct. It enhances fleet safety, compliance, and efficiency by streamlining truck and trailer inspections. Integrated with maintenance solutions, it optimizes workflows, customizes checklists, and ensures regulatory adherence for fleets across North America and Canada.

List of Key Companies Profiled

• AT&T Inc.
• Geotab, Inc.
• Wheels, LLC
• Masternaut Limited
• Omnitracs, LLC (Solera Holdings, Inc.)
• Trimble, Inc.
• WorkWave LLC
• Verizon Communications Inc.
• Samsara Inc.
• TomTom N.V.

Global Fleet Management Market Report Segmentation

By Component

• Solution
• Operation Management Solution
• Asset Management Solution
• Other Solution Type
• Services
• Managed Services
• Professional Services

By Fleet Type

• Commercial Fleet
• Passenger Cars

By Vertical

• Transportation & Logistics
• Retail
• Government
• Automotive
• Other Vertical

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA