Photo: NexTraqFleet management systems could become a popular item by the year 2018.
According to a study from MarketsandMarkets, the fleet management market is expected to grow from $10.91 billion this year to $30.45 billion by 2018, at a Compound Annual Growth Rate (CAGR) of 22.8 percent.
The study is a worldwide forecast focusing on North America, Asia-Pacific, Europe, Latin America, the Middle East and Africa.
Fleet systems are based on GPS-based telematics to help with vehicle performance, driver control and optimizing routes.
It explores business potential of fleet management solutions across varied industry verticals such as academia, government and waste management, public transport, utilities, retail, logistics, construction, mining, oil, gas and chemicals, service sectors and others.
