Europe Fleet Management Report: The Growth of FM Systems in the Region

The fleet management industry in Europe is set to experience significant growth in the coming years. According to a new report by ResearchAndMarkets.com, the installed base of fleet management systems in Europe is projected to reach 26.5 million units by 2027, up from 14.8 million units at the end of 2022. This represents a compound annual growth rate (CAGR) of 12.4%.

The report provides valuable insights into the current trends and developments in the commercial vehicle telematics industry. It includes 50 new executive interviews with market-leading companies, offering up-to-date information about vendors, products, and markets. Additionally, it offers a comprehensive overview of the fleet management value chain and key applications, as well as in-depth analysis of market trends and key developments.

One of the key drivers behind the adoption of fleet management systems in Europe is the increasing need for efficient vehicle management. As commercial fleets continue to expand, companies are looking for ways to optimize their operations, improve driver safety, and ensure regulatory compliance. Fleet management systems provide valuable tools and technologies to achieve these goals, including vehicle tracking, driver performance monitoring, and maintenance scheduling.

The report also highlights the growing collaboration between original equipment manufacturers (OEMs) and aftermarket solution providers. All major truck manufacturers in the European market now offer OEM telematics solutions as part of their product portfolio. This trend has been driven by the demand for standard line fitment of fleet management solutions. For example, Scania has rolled out the Scania Communicator as standard on all European markets, while Volvo offers Dynafleet as a standard feature.

In terms of market share, Targa Telematics is currently the largest vendor in Europe, with 710,000 subscribers in the region. It is followed by Webfleet and Verizon Connect with 680,000 and 490,000 subscribers, respectively. The report also highlights the consolidation trend in the industry, with several mergers and acquisitions taking place in 2023. This trend is expected to continue in 2024 as companies seek to expand their market presence and strengthen their offerings.

Looking ahead, the report outlines several key trends and developments that are expected to shape the future of the fleet management industry. These include the integration of big data and artificial intelligence (AI) technologies, the emergence of alliances among FM solution vendors, the expansion of the Internet of Things (IoT) in transportation, and the influence of autonomous and electric vehicle fleets.

In conclusion, the European fleet management market is poised for significant growth in the coming years. With the number of fleet management systems expected to reach 26.5 million units by 2027, companies in the industry should be prepared to adapt to the evolving market trends and seize the opportunities for growth.

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ResearchAndMarkets.com is a leading source for international market research reports and market data. They provide the latest data on international and regional markets, key industries, top companies, new products, and market trends. For more information about this report, please visit [https://www.researchandmarkets.com/r/9a6gr1](https://www.researchandmarkets.com/reports/5205284/fleet-management-in-europe-18th-edition?utm_source=BW&utm_medium=PressRelease&utm_code=qlf6h9&utm_campaign=1920520+-+Europe+Fleet+Management+Report+-+The+Installed+Base+of+FM+Systems+to+Reach+26.5+Million+Units+by+2027&utm_exec=cari18prd).