That’s the finding of Research and Markets, as it launches its new report on the subject.



The firm’s analysts have forecast the Global Fleet Management System market will grow at a CAGR of 25.94% over the period 2013-2018.



Commenting on the report, an analyst from the team said: ‘Various devices and technologies are now being integrated with fleet vehicles such as mobile phones, GPS, and other software, which have transformed the way fleet operators and drivers interact. This trend will continue to grow, and the improvement in interactions between fleet managers and drivers will enhance the fleet monitoring operations during the forecast period.’

According to the report, the Global Fleet Management System market is driven by several factors, of which increasing demand for this system from the BRIC countries is one of the main drivers. Continuous economic growth in the BRIC countries has improved the financial status of the people in these countries, leading to a rise in the demand for automobiles.



The report also says that an increase in the operating cost of vehicles as a result of factors such as a rise in vehicle cost and competition from other fleet operators is one of the main challenges inhibiting the market growth. These factors are forcing operators to reduce expenditure on new products and services.