The Global Fuel Cards Market size is expected to reach $834.6 billion by 2023, rising at a market growth of 5% CAGR during the forecast period, due to factors such as growing value-added services that enable fleet managers to minimize fraudulent claims and improve fuel management. Additionally, emerging trend of digitization and Internet of Things (IoT) are the other factors that drive the demand for fuel cards in developing regions. Growing alliances and collaborations among various key vendors, especially in the developing countries would contribute to the market expansion, globally. Nevertheless, increased uptake in the mobile payments system and data breaches are the factors that would limit the growth of the fuel cards market.
Based on Type, the Fuel Cards Market segments the market into Universal, Branded, and Others. Based on Application, the market report segments the market into Fuel Refill, Parking, Vehicle Service, Toll Charge, and Others. Based on Regions, the Fuel Cards Market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the Global Fuel Cards Market. Key companies profiled in the report include Royal Dutch Shell, ExxonMobil, British Petroleum, FLEETCOR Technologies, Inc., U.S. Bancorp, WEX Inc., OiLibya, Trafigura (Puma Energy), Engen Limited, and First National Bank..