LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global Fleet Management market and the market is poised to experience spend growth of more than USD 17 billion between 2018-2023 at a CAGR of over more than 17%. Request free sample pages.
Read the 103 page research report with TOC and LOE on "The Global Fleet Management Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
This increase in fleet management procurement will be primarily attributed to the pressing requirement of various sectors to upgrade their existing systems and services in their fleet. This is expected to enhance the fleet features while increasing their operational competency.
The fleet management companies in the US are implementing technologies such as cloud, big data, and AI that improve vehicle data analysis and are functional in better route planning. This is boosting the category viability and is driving the fleet management services procurement in the US.
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Insights into the market price trends
- The rising tire costs are making significant additions to the service provider’s TCO. This increase is mainly attributed to the usage of large diameter and seasonal tires to add cargo and Euro-style vehicles to fleets. Consequently, this is inflating fleet management procurement costs on a global scale.
- The rise in the standard of living and an increase in demand for skilled workforce will increase minimum wages which will propel supplier’s operational costs.
Insights into strategies that will help buyers optimize their procurement spend
- To optimize fleet management procurement spend, buyers are advised to implement vehicle replacement cycles to calculate maintenance and depreciation-related costs associated with a vehicle. Such insights aid buyers to proactively undertake safety measures and minimize their operating costs.
- Buyers are advised to partner with service providers who adopt green fleet management that involves usage of fuel-efficient methods to offset the impact of fuel cost fluctuations.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Fleet Management Market Procurement Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
Some of the top Fleet Management suppliers enlisted in this report
This Fleet Management market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Holman Enterprises (ARI)
- MiX Telematics
- Element Fleet Management
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Some of the key topics covered in this report are:
- Fleet Management market spend segmentation by region
- Fleet Management supply market analysis
- Regional spend opportunity for Fleet Management suppliers
- Fleet Management suppliers cost structure
- Total cost of ownership analysis in the Fleet Management market
- Fleet Management pricing models analysis
- Category management objectives
- Cost saving opportunities in the Fleet Management market
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