According to a recent study by global market research company Markets and Markets, the Fleet Management Market is expected to triple from $10.91 billion in 2013 to $30.45 billion in 2018.

Growing competitiveness in the transportation service industry makes fleet management crucial to a business operating a fleet of vehicles.

The study analyzed market opportunities, drivers, and restraints from around the world including North America, Latin America, Europe, Africa, the Middle East, and Asia.

Emerging economies are expected to have the greatest increase in fleet management, but established fleet management companies can expect business opportunities to arise across the board from logistics, public transportation, retail, and service industries as GPS tracking systems become a standard feature in new automobiles.