The Global Fleet Management System market is to grow at a CAGR of 26.66 percent over the period 2012-2016. One of the key factors contributing to this market growth is the expansion of fleet size of commercial vehicles. The Global Fleet Management System market has also been witnessing an increasing number of in-vehicle technologies. However, the increasing operating cost of vehicles could pose a challenge to the growth of this market.
Since the market is being affected by high operational costs, rising fuel prices, and difficulties in gaining adequate return on investment, fleet management system vendors are developing innovative offerings for their customers. In addition, to enhance the driving experience of end-users, vendors are developing technologically advanced products that give additional information to the driver, such as data analysis that can help modify the driving style of the driver, and increase the fuel efficiency.
Companies such as Fleetmatics and Qualcomm have provided fleet management systems to more than 300,000 vehicles in 2012. The number of fleet operators using fleet management systems in their vehicles is increasing rapidly. Fleet operators are continually expanding their fleet size, which is driving the growth of the Global Fleet Management System market. In addition, vendors are also selling other products such as fuel cards, GPS navigation devices and third party complimentary devices, which is further driving the growth of the Global Fleet Management System market.
For more information on the Global fleet management system market, please click here: Global fleet management system market
Follow us on Twitter now @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.