Fleet cards are part of the broader commercial credit card market, but fleet card is a unique product set designed for defined industry segments where managing the expenses of automotive and trucking fleets has been the primary target. In a new research report, The U.S. Fleet Card Market Still Has Legs, the author reviews the current market size and discusses the consolidation of the major network players. The report addresses evolving needs of commercial fleets and some technological innovations allowing them to gain more benefits from card. The current position of the major networks supporting fleet cards in the U.S. is analyzed, and the report’s author identifies key factors with an impact on the fleet market now and into the future, providing insights on variables that concern fleet executives.
The report delves into the market drivers and opportunities along with possible headwinds that challenge a payments industry segment dominated by several key competitors.
"The fleet card industry is an esoteric space, dominated through gradual consolidation by two major closed-loop players. In order to continue their growth and hedge against fuel-centric revenue bases, the companies are pursuing broader payments and payables strategies, including international expansion and increasing open-loop presence" commented Steve Murphy, Director of Commercial and Enterprise Payments Advisory Service, author of the report. "However, the fleet business in the U.S. still has some room for transaction growth through flexible business models, new technology, and further program penetration into the non-adopter market areas through targeted segmentation," he added.
Highlights of the research report include:
- Overall commercial card volumes and how fleet cards fit in the picture
- Breakouts of both closed-loop and open-loop network share
- Market forces that support continued fleet card demand
- Potential longer-term impact of alternative-fuel vehicles.
1. Executive Summary
3. Market Sizing
4. Fleet Card Market Share
- Overall Fleet Share
5. Market Drivers
- Industry Growth and Small Business
- Corporate Average Fuel Economy (CAFÉ) Standards
- Fleet Card Adoption
7. Looking Ahead
- Alternative Fuels and Vehicles
- EMV Liability Shift
- Fleet Card Volume Growth
List of Figures
Figure 1: Fleet Cards Account for 14.2% of U.S. Commercial Credit Card Purchase Volume
Figure 2: U.S. Fleet Card Market Is Dispersed Across Open- and Closed-Loop Networks
Figure 3: Projected Growth of Fleet Occupational Employment in the U.S. Exceeds GDP
Figure 4: U.S. Fleet Card Industry Spend Capture Has Increased Substantially
Figure 5: Growth of Alternative-Fuel Vehicles Could Reduce Fleet Card Revenue
Figure 6: U.S. Fleet Card Growth Estimates, 2017-2020
List of Tables
Table 1: Hybrid and Electric Vehicles Change the Fleet Revenue Dynamics