The global automotive fleet market has attracted a respectable amount of revenues in recent times. The growing volume of vehicles, catering to a wide range of industries, has generated the need for managing automotive fleets. Furthermore, government authorities have also instated new systems for management of state-owned vehicles. The global automotive fleet market shall expand with increasing sophistication across the transport industry.
Lytx, a global solution provider for public sector fleets lately released data about vehicle collisions. The company finds that around 20% of all collisions occur at speeds less than 5mph. This is a key consideration from the perspective of managing fleets, and fostering safety across their operations. The use of video telematics and other platforms helps in proper management of automotive fleets. The demand within the global automotive fleet market is growing alongside advancements in the field of public transport.
Transparency Market Research (TMR), in this blog, enunciates several trends that contribute towards market growth:
Popularity of Cab Services
A large population of people subscribe to cab services provided by established providers. This factor has also played a vital role in the growth of the global automotive fleet market. Managing cab services involves the use of mobile apps, dashboards, and automated messaging. All of these services can be provided by vendors operating within the global automotive fleet market.
Increased Use of Public Transport
Governments encourage people to use public transport for their regular commutes. This factor is expected to increase passenger traffic in buses and trains. The management of these modes of transport shall also aid the growth of the global automotive fleet market. Manufacturing units and industries are also required to track and manage their vehicles. This factor has also spearheaded the growth of automotive fleet market.
Some of the leading vendors in the global automotive fleet market are Element Fleet Management Corp., Midas International Corporation, and LD Automotive Pvt. Ltd.