Fleet Management Market size is valued at USD x million in 2021 and is expected to reach a value of USD x million by 2028, growing at a CAGR of x% during the forecast period 2022 to 2028. The global market provides a detailed overview of the fleet management market and that can be segmented by deployment type, fleet type, and application. component, the fleet management market has been segmented into solutions and services. The solutions segment is likely to be the largest and fastest-growing segment in terms of components. Further, solutions are further segregated into operation management, vehicle maintenance and diagnostics, performance management, fleet analytics, and reporting. Services are segmented into professional services and managed services. Based on deployment type, the fleet management market is segmented into on-premises, and cloud. Among these, the on-premises segment is expected to have the fastest-growing market during the forecast period 2022-2028. On the basis of fleet type, the market is divided into the commercial fleet, light commercial vehicles, medium and heavy commercial vehicles, passenger cars, the internal combustion engine, and electric vehicles. The commercial fleet held a considerable market share during the forecast period.
In Feb 2021, Inseego has agreed to sell Ctrack’s South African branch to Convergence Partners, an investment management firm concentrating on Africa’s technology, media, and telecom sector.