Fleet Management Market Report and Forecast 2020-2025

The global fleet management market size is expected to grow from USD 19.9 billion in 2020 to USD 34.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period. The growth of the market can be attributed to the cost benefits versus Software-as-a-Service (SaaS) and cloud-based deployments of fleet management solutions. The primary factors driving the growth of the fleet management market include the increasing government regulations and need for optimization of fleet operating expenses. The other factors supporting the market growth include the decreasing hardware and software costs and growing need for operational efficiency among fleet owners.