This article provides latest fleet management industry statistics such as market growth, fleet safety, telematics usage, sustainability, and electric vehicle (EV) adoption.
Sourced from reliable resources like U.S Bureau of Transportation, Labour Bureau, OSHA, McKinsey, and more. Also, check trucking statistics.
Top Fleet Management Statistics
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Market Growth: The global fleet management market will reach $97.45 billion by 2031. Within this, the US fleet management market will grow from $10.95 billion to $25.97 billion. The Asia-Pacific region is projected to grow the fastest at a 10.6% CAGR, dominated by China. Germany leads in Europe.
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Telematics Use: 83% of fleet operators use telematics. 40% cite budget limits as a barrier. Yet, 41% see positive ROI from GPS tracking within a year.
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Owner-Operators: 16% of all truck drivers are owner-operators. In 2022, the US had 700,000 owner-operators.
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Safety Concerns: 48% of fleet managers prioritize safety. Only 37% use dashcams due to costs. Commercial driver deaths rose 16.3% from 2020 to 2021.
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Electric Vehicles: 65% of fleets struggle with electric vehicle adoption. Only 22% have EVs, making up less than 5% of their fleets.
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Inflation Impact: Inflation affects 79% of US fleets in 2024, up from 44% in 2021.
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Top Risks: Main risks are fuel costs (31%), vehicle breakdowns (14%), and maintenance costs (13%).
How Big is the Fleet Management Industry?
The global fleet management market was valued USD 28.6 billion in 2023 and is projected to explode to USD 97.45 billion by 2031. Within this, the US market is expected to more than double, from USD 10.95 billion in 2023 to USD 25.97 billion in 2031. The Asia-Pacific region is predicted to experience the fastest growth during this period.
Fleet Management Market Share by Region
In 2023, Asia Pacific holds the largest regional fleet management market share followed by Europe and North America.
North America
North America is projected to hold the 31% market share in the global fleet management industry by the end of 2036. Within North America, the U.S. and Canada are expected to account for 75% and 25% of the regional market, respectively, in 2023. This growth is driven by telematics adoption, 5G penetration, and increased market demand.
Some of the largest fleet management companies in North America include: ARI Fleet, Element Fleet Management, Enterprise Fleet Management, and Wheels Inc.
Asia-Pacific
Asia-Pacific region is projected to have the highest CAGR (2021-2030), with China dominating due to large fleets, early tech adoption, and a mature market.
Europe
Germany expected to lead due to advanced technology, robust infrastructure, and a mature market.
Other Data Points:
- Management Approach: In-house fleet management holds the largest global market share.
- Vehicle Segments: The passenger vehicle segment is projected to account for 42% of the market by 2032.
- New Fleet Growth: The global automotive segment saw 42,980 new fleets in 2022, projected to reach 59,089 by 2031 (3.6% CAGR).
Technology in Fleet Management
Technology adoption is reshaping fleet operations:
- Telematics Usage: 83% of surveyed fleet operators use telematics. This rises to 93% for fleets with 50+ vehicles, and 52% for fleets with 3 or fewer vehicles.
- Telematics Benefits: Top benefits include locating vehicles (29%), improved driver safety and behavior (27%), and fuel savings (6%).
- Telematics ROI: 41% of GPS tracking users saw positive ROI in under a year, 21% in over a year.
- Technology Barriers: 40% cite budget constraints as the biggest barrier to adopting fleet technology.
Emerging Technologies
- Vehicle Diagnostics and Maintenance Market: Valued at $2.9 billion, expected to reach $6.3 billion by 2030.
- Data Management Technology Growth: CAGR of 11% from 2015 to 2020, projected to reach 15% by 2028. Market value heading to $1.9 billion by 2030.
- RFID Technology Growth: Projected market value increase from $4.5 billion to $13.9 billion by 2030.
- Cloud-Based Fleet Management: Accounted for 65% of the market share in 2022.
- GPS Tracking and Dashcam Growth: GPS at ~10% growth vs. dashcams at ~8%.
- USDA Telematics Implementation: Improved efficiency, theft recovery, and cost savings.
- Small Fleet Technology Adoption: Fleets with 1-5 vehicles are the biggest adopters of fleet management technology.
Fleet Safety Statistics
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Commercial driving is a risky profession. In 2021, there were 28.8 fatalities per 100,000 commercial drivers, making it a leading cause of workplace deaths—a 16.3% increase from 2020.
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Vehicle accidents cost employers over $60 billion annually in the US. The average crash costs an employer $16,500, rising to $74,000 with injuries and exceeding $500,000 for a fatality.
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Distracted driving is a factor in 25-30% of crashes. This highlights the critical need for ongoing driver training and awareness programs.
While these statistics are concerning, positive trends and ongoing efforts aim to improve fleet safety:
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Overall traffic fatalities are declining. A 3.6% decrease occurred in 2024 compared to 2022, with an additional 3.3% reduction in Q1 2023 compared to Q1 2022.
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48% of US fleet managers identify driver safety as a top priority. This prioritization translates into concrete actions such as driver training, which 48% focused on in the past year and plan to continue in the coming year.
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70% of surveyed fleet managers believe the 2020 Hours of Service (HOS) regulations improved driver safety. Additionally, 42% report fewer safety incidents after implementing fleet tracking software.
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Budget limitations have led to a decrease in dashcam investment, dropping from 52% to 37%.
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The automotive safety system market is projected to grow by 23% from 2021 to 2027. The broader automotive IoT market, including safety technologies, is estimated to reach $882 billion by 2028.
Fleet EVs & Sustainability Statistics
The industry is gradually shifting towards more sustainable practices:
- Fleet Electrification: 65% of US respondents haven’t taken action towards fleet electrification. 22% of respondents in a separate survey have EVs, but they make up less than 5% of their fleet.
- Carbon Emissions Reduction: 27% haven’t taken steps to reduce carbon emissions. 14% have no carbon neutrality goals. 27% expect to achieve carbon neutrality in 5-10 years.
- EV Consideration: 24% have never considered switching to EVs. Of those who have, 23% cited cost reduction, 21% cited remaining competitive, and 21% cited meeting compliance standards.
- EV Barriers: 33% cite economic viability, 27% lack of charging infrastructure, and 22% inadequate EV models for current needs.
- Emission Standards Impact: 61% believe proposed emission standards would increase EV use in commercial fleets.
- Government Support for EVs: 74% want more government financial support and guidance for EV transition.
- UK Fleet Electrification: 56% hybrid/EV by end of 2024, 78% fully electric by 2030.
- US Decarbonization Goals: Over 50% of US fleet operators aim for carbon-free fleets by 2027, 90% plan to decarbonize eventually.
- Fleet Depot Electricity Usage: Projected to provide over 25% of electricity for EVs in the US by 2030.
- Charger Distribution at Depots: 52% fast DC chargers, 42% commercial L2 chargers projected by 2030.
- Light Commercial Vehicle Growth (US): Projected to grow from 24,000 in 2021 to 3.8 million by 2030 if zero-emission vehicle targets are met.
- Energy Demand for Light Commercial Vehicles (US): Projected to increase from 0.2 TWh in 2021 to 33 TWh by 2030.
- Heavy-Duty Truck Emissions: Heavy-duty trucks represent 10% of vehicles but contribute to ~40% of greenhouse gas emissions from global transportation and 5.1% of total CO2 emissions from fossil fuels.
Fleet Manager Demographics
Understanding the people behind fleet management:
- Gender: 83.2% male, 16.8% female. Women earn slightly more ($51,772 annually) than men ($51,570 annually).
- Median Age: 45 years old.
- Race/Ethnicity: 59.1% White, 18.3% Hispanic/Latino, 11.6% Black/African American, 6.2% Asian.
- Employment Type: 68% work for private companies.
Trucking Industry Statistics
The trucking sector plays a crucial role in fleet management:
- Freight Bill Share: Represents 80.7% of the US freight bill, generating over $940.8 billion in 2022.
- Freight Tonnage: Trucks transported 11.46 billion tons of freight in 2022 (72.6% of domestic shipments).
Fleet Business Expense Statistics
Fleet managers face various challenges and set priorities accordingly:
- Gas Costs: Gas prices averaged $3.70 in June 2024 and are projected to fall to around $3.50 across 2025. Estimates place gas as 25% of total fleet spending.
- Operational Risks: Top three risks are fuel costs (31%), vehicle breakdowns (14%), and maintenance costs (13%).
- Top Priorities: Reducing costs, increasing operational efficiency, and increasing driver productivity.
What These Fleet Management Statistics Reveal
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Technology Adoption Gap: While 93% of large fleets (50+ vehicles) use telematics, only 52% of small fleets (3 or fewer vehicles) do. This technology gap could lead to a widening performance divide in the industry.
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Safety ROI is Clear, but Underutilized: 42% report fewer safety incidents with fleet tracking software, yet only 48% prioritize driver training. This disconnect suggests a significant opportunity for improving fleet safety outcomes.
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Electrification Faces Resistance: 65% of US fleets haven’t taken action on electrification, with 33% citing economic viability as the main barrier. However, with heavy-duty trucks contributing 40% of transportation greenhouse gas emissions, regulatory pressure for electrification is likely to intensify.
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Market Consolidation Looms: The projected growth to $52.50 billion by 2030, coupled with the fact that small fleets are the biggest adopters of new technology, suggests we may see increased M&A activity as larger players seek to acquire innovative smaller fleets.
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Demographic Shift Could Drive Innovation: With women in fleet management earning slightly more than men ($51,772 vs $51,570) despite being only 16.8% of the workforce, we might see a push for greater diversity, potentially bringing fresh perspectives to industry challenges.
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Data Management is the Next Frontier: With data management technology in fleet operations projected to reach a 15% CAGR by 2028, the ability to effectively analyze and act on fleet data will likely become a key differentiator.
These trends suggest that successful fleet managers in the coming years will need to be tech-savvy, data-driven, and adaptable to rapid change. The industry appears poised for a period of significant transformation, where those who can effectively balance technology adoption, safety improvements, and sustainability initiatives will likely emerge as leaders.