Fleet Management Market Forecasted at USD 68.67 Billion by 2033 Driven by IoT and AI-Powered Solutions | SNS Insider

By GlobeNewswire On Oct 22, 2025

The Fleet Management market is expanding as organizations adopt telematics, connected vehicles, and AI-driven analytics to optimize routes, improve predictive maintenance, and enhance operational efficiency across commercial and passenger fleets.

Austin, Oct. 22, 2025 (GLOBE NEWSWIRE) — The Fleet Management Market Size was worth USD 25.04 Billion in 2025E and is expected to reach USD 68.67 Billion by 2033, expanding at a CAGR of 13.48% during 2026-2033.

The increasing use of telematics, connected automobiles, and internet of things (IoT)-based technologies in both commercial and passenger vehicles is driving the expansion of the fleet management market. This makes it possible for businesses to use real-time predictive maintenance, route optimization, and vehicle tracking to improve operational effectiveness and cut expenses.

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The U.S. Fleet Management Market size was valued at USD 8.71 Billion in 2025E and is expected to reach USD 23.46 Billion by 2033, growing at a CAGR of 13.21% over 2026-2033.

Strong regulatory standards and rising demand for connected vehicle technology, together with the broad use of telematics, IoT, and AI-powered fleet solutions that improve real-time tracking, predictive maintenance, and operational efficiency, are driving the expansion.

Segmentation Analysis:

By Component, in 2025, Solutions Segment Dominated the Market with a Share of 65.10%, while Services is the Fastest-growing Segment with a CAGR of 15.20%

Solutions lead in 2025, due to the demand for integrated and multi-functional software platforms to support advanced features, enabling real-time vehicle tracking, route optimization, predictive maintenance, and driver behavior monitoring. Services is the most rapidly growing segment, driven by the growing need for installation, maintenance, and consulting services for fleet management solutions.

By Vehicle, in 2025, Commercial Vehicles Held the Largest Share of 73.80%, while Passenger Vehicles is the Fastest-growing Segment with a CAGR of 14.80%

Commercial Vehicles leads in 2025, owing to the high utilization of fleet management services in the transportation, logistics, and delivery domain. Passenger Vehicles Segment is the fastest-growing segment of the market as connected car technologies become more common and ride-sharing services gain popularity.

By Communication Technology, Cellular System Segment Dominated the Market with a Share of 60.20%, while GNSS is the Fastest-growing Segment with a CAGR of 14.40%

Cellular System leads the market in 2025, due to its keen adoption as a fleet telematics and Real-Time vehicle tracking solution. GNSS segment has witnessed a tremendous growth due to rising demand for accurate location tracking, navigation, and geofencing functionalities.

By Deployment Type, in 2025, Cloud Segment Led the Market with a Share of 63.40%, and is also the Fastest-growing Segment with a CAGR of 15.32%

Cloud leads in 2025, due scalability, the flexibility & cost-effectiveness of the Cloud technology. It is also the fastest-growing segment due to the adoption of Software-as-a-Service (SaaS) models, remote fleet management needs and supportive demand from small and medium enterprises, globally, which typically operate low-maintenance, subscription-based fleet management systems.

By Industry Verticals, in 2025, Transportation Segment Held the Largest Share of 41.08%, while Oil and Gas is the Fastest-growing Segment with a CAGR of 14.10%

Transportation leads in 2025, due extensively deployed in logistics, public transit, and delivery segment. Oil and Gas vertical is the fastest growing segment due to growing demand for fleet management in remote and high-risk, and resource intensive operations.

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Regional Insights:

North America dominated the Fleet Management Market in 2025E, with over 48.30% revenue share, due to the rapid acceptance of integrated telematics IOT, AI-based Fleet Management solutions all over North America.

Asia Pacific region is expected to have the fastest-growing CAGR 14.57%, due to increasing urbanization, growing logistics and e-commerce activities, and expanding adoption of connected and smart fleet solutions.

Recent Developments:

In January 2025, Verizon Connect launched its Extended View Cameras, providing nearly 360-degree visibility around vehicles to enhance driver safety and accident prevention.
In June 2025, Samsara announced a major expansion of its fleet management capabilities by introducing AI-powered safety tools, advanced routing solutions, smart wearables, and predictive maintenance enhancements.

Key Players:

Samsara Inc.
Verizon
Azuga (Bridgestone Company)
Teletrac Navman
Trimble Inc.
Powerfleet (formerly Fleet Complete)
Geotab Inc.
Omnitracs LLC
Fleetmatics (Verizon Connect)
Continental AG
MiX Telematics
Gurtam
TomTom Telematics
Zonar Systems
Ctrack (Inseego Corp.)
Quartix
Masternaut
ORBCOMM Inc.
CalAmp Corp.
Magellan GPS

Fleet Management Market Report Scope:

Report Attributes	Details
Market Size in 2025E	USD 25.04 Billion
Market Size by 2033	USD 68.67 Billion
CAGR	CAGR of 13.48% From 2026 to 2033
Base Year	2025E
Forecast Period	2026-2033
Historical Data	2022-2024
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	• By Component (Solutions, Services) • By Vehicle (Passenger Vehicles, Commercial Vehicles) • By Communication Technology (Cellular System, GNSS) • By Deployment Type (On-Premises, Cloud) • By Industry (Construction, Transportation, Government, Logistics, Retail, Automotive, Oil and Gas, Others)
Customization Scope	Available upon request
Pricing	Available upon request

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Exclusive Sections of the Report (The USPs):

PREDICTIVE & OPERATIONAL INSIGHTS – helps you evaluate fleet efficiency by tracking reductions in vehicle downtime, accuracy of predicted vs. actual maintenance issues, frequency of risky driving events, and active vs. idle vehicle utilization.
TECHNOLOGY & INNOVATION METRICS – helps you measure digital adoption by analyzing the average number of sensors per vehicle, AI-enabled decision-making for route, maintenance, or fuel efficiency, share of vehicles in real-time monitoring systems, and speed of data transmission to control systems.
SUSTAINABILITY & ENVIRONMENTAL METRICS – helps you quantify environmental impact by monitoring CO₂ savings, fuel/electricity usage reduction, idle engine time reduction, and fleet composition across diesel, petrol, electric, and hybrid vehicles.
FINANCIAL & ROI METRICS – helps you assess investment effectiveness through payback periods, cost savings on maintenance, fuel, insurance, and labor, reduction in insurance claims, and improvement in vehicle lifespan via predictive maintenance.
OPERATIONAL PERFORMANCE & UTILIZATION METRICS – helps you benchmark fleet deployment efficiency, monitor vehicle utilization patterns, and identify operational bottlenecks for better resource allocation.
COMPETITIVE LANDSCAPE – helps you gauge the strategic strength of leading IaaS & PaaS providers in fleet management based on technology integration, AI adoption, cost-saving capabilities, and client deployment success.

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