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The Global Fleet Management Market size is expected to reach $31.7 billion by 2023, rising at a market growth of 19% CAGR during the forecast period. Fleet management is a process where telematics solutions are used to add value to commercial fleet-based organizations. The technology is used to increase profitability and improve sustainability by reducing fuel consumption, tracking average idle times per vehicle, providing better understanding of the performance of the vehicle and the driver, mitigating overtime payouts, and with various other benefits. Major factors that have led to growing adoption of fleet management solutions are growing awareness about the benefits of fleet management systems, volatile fuel prices, growing concern about CO2 emissions, stringent rules on emission-related regulations, and the need for efficient management of complex operations of commercial fleet-based companies.

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Fleet Management Market - Fleet Management Market Size - Fleet Management Market Share - Fleet Management Market Trend - Fleet Management Market Growth.