In terms of revenue, the smart fleet management market in Europe contributed $XX billion in 2018 and is estimated to reach a value of $XX billion by 2027, while developing at a CAGR of 6.03% between 2019 and 2027. The Europe market is influenced mainly by the rising production and sale of vehicles along with the launch of new autonomous, connected cars by leading auto manufacturers.
Countries such as Germany, the United Kingdom, Italy, Spain, and France are included in the North America smart fleet management market. The report also analyzed the Rest of Europe region which comprises of other remaining European countries. The large automotive industry in Germany is surging demand for fleet management systems, in turn, driving its market growth at a significant pace. Also, public enterprises in Germany are increasing their vehicle fleets and adopting connected technologies, thereby fuelling the growth of the fleet management market in the country. Also, the lease fleet companies are upgrading technologies, in turn, providing lucrative opportunities to fleet management market in the region.
The key companies operating in the smart fleet management market are Denso Corporation, I.D. Systems, Cisco Systems Inc., Omnitracs LLC, IBM Corporation, and Continental AG, among others. The smart fleet management market is competitive due to the consolidation of the market by leading players and increasing R&D activities.