Global Fleet Management Systems Strategic Business Report 2023: Market to Reach … – Press Release

[ad_1]

DUBLIN, April 18, 2023 /PRNewswire/ — The “Fleet Management Systems: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.


Global Fleet Management Systems Market to Reach $71.7 Billion by 2030

The global market for Fleet Management Systems estimated at US$21.5 Billion in the year 2022, is projected to reach a revised size of US$71.7 Billion by 2030, growing at a CAGR of 16.3% over the analysis period 2022-2030.

Solutions, one of the segments analyzed in the report, is projected to record 15.4% CAGR and reach US$43.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 17.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $6.6 Billion, While China is Forecast to Grow at 21% CAGR

The Fleet Management Systems market in the U.S. is estimated at US$6.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2030 trailing a CAGR of 21% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.1% and 14.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR.

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.

Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.

Volatile…

[ad_2]