New report finds fleet management is set to grow worldwide

The global fleet management system market is set to grow at a compound annual growth rate of 26.23 per cent between 2014 and 2019, according to research by TechNavio. The research has been compiled into a report titled 'Global Fleet Management System Market 2015-2019', with data collected from industry experts and in-depth market analysis. 

Taking an international approach in its research, TechNavio looked at fleet management in the Americas, Europe, Middle East, Africa and the Asia-Pacific regions. Australia was one of the Asia-Pacific countries studied by TechNavio for this report. The overall results suggest the use of fleet management in Australia is set to grow along with the global trend. 

According to the report, a key driver for the increase in fleet management was the fact that businesses are feeling the need to enhance their operational productivity. They are therefore turning to fleet management to monitor the use of their commercial vehicles. Fleet drivers are also efficiently managed through GPS tracking, navigational assistance and safety performance reviews. 

"An industry benchmark productivity increase of about 20 per cent per vehicle has been achieved by employing high-end fleet management systems," said Faisal Ghaus, vice president of TechNavio.

These results offer fleet managers concrete numbers to turn to, and demonstrate that using fleet software has helped businesses around the world improve their productivity for each commercial car. 

The report also found that green fleet management solutions are growing in popularity. Ghaus noted this trend is largely due to the fact businesses are becoming increasingly conscious about being seen as environmentally-friendly. This has lead to an increase of green cars being adopted by fleet managers.

The year-on-year growth of 26.23 per cent is perhaps unsurprising when taking into account the benefits of fleet management. Drivers are often happier knowing that they are helped with fleet maintenance, fuel efficiency is increased by using the best routes and time is better used through scheduled services, which mean less waiting around due to breakdowns or repairs. 

Indeed, these benefits have been taken into account by the Australian government as a whole. The Department of Finance noted the government has a fleet size of 13,445 vehicles. Of these, 6,995 are leased or managed. 

The positive results from this report are an opportunity for current fleet managers to pat themselves on the back, already being a part of a strong and profitable global trend. Businesses currently not using fleet software can perhaps consider becoming a part of this swelling trend to reap the benefits.