Fleet management is a process or an approach that enables companies to systemize and co-ordinate work vehicles with the aim to reduce costs, improve efficiency, and provide compliance to government regulations. Solutions such as driver management, vehicle management and operations management are encompassed in the scope of fleet management solutions. The rising adoption of fleet management analytics and a shift towards smaller fleets are some of the reason that are expected to drive the fleet management solution market in the next few years.
On the basis of deployment, the global fleet management solution market is segmented into cloud and on-premise. The cloud-based deployment segment is anticipated to contribute major share in the global fleet management solution market. With the increased demand and adoption of Software as a Service model, the cloud deployment segment is anticipated to witness rapid and steady growth throughout the forecast period. The on-premise deployment segment is expected to hold a comparatively smaller share of the global fleet management solution market.
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On the basis of type, the global fleet management solution market has been segmented in the report into vehicle management, driver management, and operations management. Of these, the segment of operations management solutions is expected to hold the dominant share of the global market throughout the forecast period.
The segment is expected to be followed by the segment of vehicle management solutions in terms of market share. Moreover, the vehicle management solutions segment is also projected to be the segment with the most promising growth opportunities owing to high rate of growth.