Global sales of the fleet maintenance software market will reach a moderate compound annual growth rate of 9.2% between 2022 to 2032, according to Dublin-based market research company FactMR.
The net worth of the fleet maintenance software market will reach US$30.9 billion by 2032, increasing from US$ 11.6 billion in 2021, the group reported.
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Fleet maintenance software is a digital solution that allows the manager or employees to complete a series of specified duties in the management and administration of all parts of a private or public organisation’s fleet of vehicles used in logistics or transportation.
These tasks cover the whole process starting from vehicle purchase, operation and final disposal – resulting in huge demand for fleet maintenance software in the present market, the group said in a press release.
Takeaways
• The overall increase of the worldwide fleet maintenance software market, calculated in absolute dollars, is expected to reach roughly US$ 18.1 billion during the next ten years.
• Based on component type, the services segment, with a higher growth rate of 9%, is anticipated to overtake the market against the solution segment by 2032.
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By GlobalData• Passenger car segment remains the largest contributor to the market, with a projected growth rate of 9% between 2022 to 2032.
• In terms of overall value, the market in the US occupies the largest share. In the year 2022, the size of the US market is estimated to be US$ 4.7 billion.
• While UK market is rapidly expanding with the highest CAGR of 9.1% through 2032.
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