Global Electric Vehicle Fleet Management Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The global electric vehicle fleet management market is experiencing rapid growth due to increasing adoption of electric vehicles and the need for efficient management solutions

• The process of efficiently managing a fleet of electric vehicles (EVs) is called electric vehicle fleet management. Maximizing the electric fleet's effectiveness and efficiency involves handling several factors, including vehicle acquisition, charging infrastructure, maintenance, route planning, and overall operations.
• The overall environment of fleet management has changed due to the integration of telematics, Internet of Things (IoT) devices, and connectivity solutions. Telematics technologies like GPS tracking and onboard diagnostics make real-time vehicle, driver, and operational data monitoring possible. The expanding accessibility and affordability of these technologies have facilitated the widespread adoption of fleet management solutions.
• This data provide insights into vehicle performance, upkeep requirements, and driver safety. Tools for planning and monitoring vehicle maintenance tasks, such as oil changes, tire rotations, and inspections, are frequently included in maintenance management. Algorithms for predictive maintenance can help find potential problems before they cause breakdowns or expensive repairs. Electric Vehicles promote environmental sustainability driving growth in the market.
• Solutions for advanced fleet management allow for route planning and optimization. These systems assist fleet managers in creating the most efficient routes and lowering mileage and delivery times by considering variables like traffic conditions, weather, and vehicle specifications.
• As the task of managing electric vehicle fleets becomes more complex, there is an increasing need for fleet management software explicitly customized for electric vehicles. This software can track vehicle performance, charging status, battery health, and predictive maintenance features. There are opportunities for software developers to provide all-inclusive fleet management platforms compatible with current fleet management systems.
• However, installing charging stations in many places is still a challenge. Expanding the charging station network to enable efficient fleet management and adopting electric vehicles is essential.
• Additionally, the performance and longevity of the battery life in electric vehicles is a crucial factor. The need to charge frequently can impact the operations and efficiency of managing many electric vehicle fleets.

Market Segmentations

• The Global Electric Vehicle Fleet Management Market is segmented based on Type, Component, Fleet Size, and Geography.
• By Type, the market is classified into On-Premises and Cloud-Based
• Cloud-Based holds a larger market share. They are mostly used as they provide real-time access to fleet management data. It allows managers to collaborate with team members, control the monitor the electric vehicle fleet, and share data. Since it is real-time data, managers can quickly respond to data-driven decisions.
• By Component, the market is classified into Hardware, Software, and Services.
• The hardware segment is expected to hold the dominant market share owing to the high hardware cost and being an integral part of the system.
• By Fleet Size, the market is classified into Large and Small and Medium-sized.
• Large Enterprises hold a significant market share. EV fleet management systems are more complex and customized, with a mix of internal and external expertise, in-house software development, and advanced hardware components. Instead, SMEs usually rely on pre-packaged software, standardized hardware components, and external service providers for simpler and more cost-effective solutions.
• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• America holds a significant market share. Several large fleet operators in transportation, delivery services, and utilities have implemented EV fleet management solutions. Several new fleet management apps are being developed in the region, telematics devices are being integrated, and charging infrastructure is being deployed to support electric vehicle fleets.

Recent Development

• Volvo Cars take total ownership of autonomous driving software firm Zenseact - January 2023
• GPS Insight Acquires FieldAware to Create a Comprehensive, Market-Leading Fleet Management, Field Services, and Telematics Software Platform - December 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electric Vehicle Fleet Management Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electric Vehicle Fleet Management Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Electric Vehicle Fleet Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed Electric Vehicle Fleet Management Market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market