A Complete Study of the Fleet Management Industry in Korea from 2023 to 2033

The demand for fleet management solutions in Korea is anticipated to exhibit a CAGR of 6.4% through 2033. The fleet management industry is projected to experience substantial growth, increasing from US$ 687.6 million in 2023 to around US$ 1,298.80 million by 2033.

Attributes Key Statistics
Expected Base Year Value (2023) US$ 687.6 million
Anticipated Forecast Value (2033) US$ 1,298.80 million
Estimated Growth (2023 to 2033) 6.4% CAGR

Don't pay for what you don't need

Customize your report by selecting specific countries or regions and save 30%!

Key Highlights

Demand for Efficient Logistics to Fuel Korea’s Fleet Management Industry

The demand for effective fleet management solutions in Korea is going through an all-time high as timely deliveries, optimized routes, and minimized operational costs become crucial for businesses. As commercial activities increase, companies are faced with the challenge of managing their logistics and transportation efficiently. This provides an excellent opportunity for fleet management solution providers to streamline deliveries by monitoring the deliveries in real time to ensure timely services.

The significance of the fleet management industry is also gaining impetus as it plays a crucial role in minimizing operational costs. Fleet management systems provide insights into fuel consumption patterns, allowing companies to identify areas for improvement and implement fuel-saving strategies. In addition to this, Korea's rapidly developing economy has also driven the growth of the fleet management industry.

Adoption Analysis of Fleet Management Industry in Korea

  • Logistics and transportation companies constitute one of the primary consumer bases for Korea’s fleet management industry. These solutions assist them in streamlining operations by ensuring timely and reliable transportation services.
  • The eCommerce businesses in Korea are experiencing rapid expansion, resulting in a growing demand for efficient last-mile delivery services. These platforms utilize fleet management services to oversee their delivery fleets, track shipments, and provide real-time updates to customers.
  • Local retailers and manufacturing units also employ fleet management solutions to track their orders effectively as they move between production facilities, warehouses, and distribution centers.
  • Home appliance providers such as HVAC, plumbing, or electrical services rely on fleet management solutions to oversee their service vehicles, schedule appointments, and dispatch technicians efficiently.
Sudip Saha
Sudip Saha

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Category-wise Insights

The Popularity of Hardware Components in Korea's Fleet Management Industry

On the basis of components, hardware components dominate the fleet management industry, accounting for a revenue share of 48.20% in 2023.

Attributes Details
Component Hardware
Value Share in 2023 48.20%

Korea is renowned for its robust technological infrastructure and a culture that embraces innovation. This environment has facilitated the availability of high-quality and reliable hardware components for fleet management systems. Korea-based fleet management companies have invested billions of dollars in the development of innovative hardware solutions, including GPS trackers, telematics devices, and onboard diagnostics systems.

There has been a significant surge in the demand for hardware components associated with the fleet management industry, as they facilitate the collection of real-time data on vehicle location, fuel consumption, driver behavior, and other crucial metrics. This data not only plays a vital role in optimizing routes, but also contributes to improved fuel efficiency and enhances vehicle health.

Trucks, Cars, and Buses retain their Popularity in the Korea Fleet Management Industry

Based on the fleet type, the fleet management industry is segmented into trucks, buses, cars, aircraft, ships, etc. In Korea’s landscape, trucks, buses, and cars heavily dominate, accounting for a revenue share of 42.30% in 2023.

Attributes Details
Fleet Type Trucks/Buses/Cars
Value Share in 2023 42.30%

Trucks are widely employed in transportation and logistics due to their versatility and capacity to carry large volumes of goods. With Korea's growing economy and increasing commercial activities, there is a high demand for efficient and reliable transportation. Trucks offer the necessary flexibility to transport a wide range of products, from raw materials to finished goods, across various distances.

In Korea, cars find common use in corporate fleets, ride-hailing services, and for the transportation of individuals. They provide the convenience and comfort required for the efficient transport of smaller shipments. Buses, on the other hand, offer a cost-effective and environmentally friendly mode of transportation for a large number of passengers.

Competitive Landscape

The Korea fleet management industry has experienced significant expansion, driven by the rapid growth of eCommerce platforms and consumers' preference for last-mile delivery services. There are numerous companies in the Korea fleet management industry that cater not only to the regional industry but also to international consumers. As consumers and businesses alike become increasingly conscious of their environmental impacts, the industry is calling for innovations and sustainable changes.

Recent Developments in the Fleet Management Industry in Korea:

  • In 2022, GS Caltex's acquisition of the fleet management system business of LG CNS expanded its capabilities in providing comprehensive fleet management solutions, strengthening its position in the industry.
  • In 2021, KT's acquisition of the fleet management system business of SK Telecom allowed them to enhance their portfolio of fleet management services, leveraging their expertise in telecommunications and technology.
  • In 2020, Naver's acquisition of the fleet management system business of Kakao Mobility enabled them to integrate fleet management capabilities into their platform, offering a seamless and integrated transportation solution for their users.

Get the data you need at a Fraction of the cost

Personalize your report by choosing insights you need
and save 40%!

Some of the Key Players in this field in Korea

  • GS Caltex
  • KT
  • Naver
  • LG CNS
  • SK Telecom
  • Kakao Mobility
  • GPS Insight Korea
  • Fleetmatics Korea
  • Trimble Korea
  • Omnitracs Korea
  • Teletrac Navman Korea
  • Geotab Korea

Scope of the Report

Attribute Details
Estimated Valuation (2023) US$ 687.6 million
Projected Valuation (2033) US$ 1,298.80 million
Anticipated CAGR (2023 to 2033) 6.4% CAGR
Historical Analysis of the Feet Management Industry in Korea 2018 to 2022
Demand Forecast for the Fleet Management Industry in Korea 2023 to 2033
Quantitative Units Revenue in US$ million and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Key Provinces Analyzed South Gyeongsang, North Jeolla, South Jeolla, Jeju
Key Companies Profiled GS Caltex; KT; Naver; LG CNS; SK Telecom; Kakao Mobility; GPS Insight Korea; Fleetmatics Korea; Trimble Korea; Omnitracs Korea; Teletrac Navman Korea; Geotab Korea

Fleet Management Industry by Category

By Component:

  • Hardware
    • GPS Tracking Devices
    • Dash Cameras
    • Bluetooth Tracking Tags (BLE Beacons)
    • Data Loggers
  • Software
    • Fleet Management Software
    • Telematics Software
  • Services
    • Professional Services
      • Consulting & Advisory
      • Integration & Implementation
      • Support & Maintenance
    • Managed Services

By Fleet Type:

  • Trucks/Cars/Buses
  • Ships/Vessels
  • Aircrafts
  • Railcars

By Application:

  • Fleet Tracking and Geofencing
  • Vehicle Maintenance and Diagnostics
  • Driver Behavior Monitoring
  • Fuel Management
  • Others

By Industry:

  • Construction
  • Manufacturing
  • Mining
  • Transportation
  • Oil and Gas
  • Others

By Key Provinces:

  • South Gyeongsang
  • North Jeolla
  • South Jeolla
  • Jeju

Frequently Asked Questions

What is the Projected Growth Rate for the Fleet Management Industry in Korea?

The anticipated CAGR for Korea's fleet management industry through 2033 is 6.4%.

How big will the Fleet Management Landscape be in Korea?

Demand for fleet management solutions in Korea is likely to reach US$ US$ 1,298.80 million by 2033.

Which is the Preferred Fleet Type for Fleet Management Solutions in Korea?

Trucks, buses, and cars are the favored choices for fleet management solutions, comprising 42.30% of the industry share.

What is the Prevalent Component in Korea’s fleet Management Industry?

In Korea, the hardware component segment dominates the fleet management landscape, with a share of 48.20%.

Table of Content
1. Executive Summary
    1.1. Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Investment Feasibility Matrix
    3.5. PESTLE and Porter’s Analysis
    3.6. Regulatory Landscape
        3.6.1. By Key Regions
    3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Component
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
        5.3.1. Hardware
            5.3.1.1. GPS Tracking Devices
            5.3.1.2. Dash Cameras
            5.3.1.3. Bluetooth Tracking Tags (BLE Beacons)
            5.3.1.4. Data Loggers
        5.3.2. Software
            5.3.2.1. Software
            5.3.2.2. Telematics Software
        5.3.3. Services
            5.3.3.1. Professional Services
            5.3.3.2. Integration & Implementation
            5.3.3.3. Consulting & Advisory
            5.3.3.4. Support & Maintenance
            5.3.3.5. Managed Services
    5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
    5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Professional Services
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) Analysis By Professional Services, 2018 to 2022
    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Professional Services, 2023 to 2033
        6.3.1. Consulting & Advisory
        6.3.2. Integration & Implementation
        6.3.3. Support & Maintenance
    6.4. Y-o-Y Growth Trend Analysis By Professional Services, 2018 to 2022
    6.5. Absolute $ Opportunity Analysis By Professional Services, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Fleet Type
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ Million) Analysis By Fleet Type, 2018 to 2022
    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Fleet Type, 2023 to 2033
        7.3.1. Trucks/Cars/Buses
        7.3.2. Ships/Vessels
        7.3.3. Aircrafts
        7.3.4. Railcars
    7.4. Y-o-Y Growth Trend Analysis By Fleet Type, 2018 to 2022
    7.5. Absolute $ Opportunity Analysis By Fleet Type, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application
    8.1. Introduction / Key Findings
    8.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022
    8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033
        8.3.1. Fleet Tracking and Geofencing
        8.3.2. Vehicle Maintenance and Diagnostics
        8.3.3. Driver Behavior Monitoring
        8.3.4. Fuel Management
        8.3.5. Others
    8.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
    8.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Industry
    9.1. Introduction / Key Findings
    9.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022
    9.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033
        9.3.1. Construction
        9.3.2. Manufacturing
        9.3.3. Mining
        9.3.4. Transportation
        9.3.5. Oil and Gas
        9.3.6. Others
    9.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022
    9.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033
10. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
    10.1. Introduction
    10.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
    10.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
        10.3.1. South Gyeongsang
        10.3.2. North Jeolla
        10.3.3. South Jeolla
        10.3.4. Jeju
        10.3.5. Rest of Korea
    10.4. Market Attractiveness Analysis By Region
11. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        11.2.1. By Component
        11.2.2. By Professional Services
        11.2.3. By Fleet Type
        11.2.4. By Application
        11.2.5. By Industry
    11.3. Market Attractiveness Analysis
        11.3.1. By Component
        11.3.2. By Professional Services
        11.3.3. By Fleet Type
        11.3.4. By Application
        11.3.5. By Industry
    11.4. Key Takeaways
12. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Component
        12.2.2. By Professional Services
        12.2.3. By Fleet Type
        12.2.4. By Application
        12.2.5. By Industry
    12.3. Market Attractiveness Analysis
        12.3.1. By Component
        12.3.2. By Professional Services
        12.3.3. By Fleet Type
        12.3.4. By Application
        12.3.5. By Industry
    12.4. Key Takeaways
13. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Component
        13.2.2. By Professional Services
        13.2.3. By Fleet Type
        13.2.4. By Application
        13.2.5. By Industry
    13.3. Market Attractiveness Analysis
        13.3.1. By Component
        13.3.2. By Professional Services
        13.3.3. By Fleet Type
        13.3.4. By Application
        13.3.5. By Industry
    13.4. Key Takeaways
14. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        14.2.1. By Component
        14.2.2. By Professional Services
        14.2.3. By Fleet Type
        14.2.4. By Application
        14.2.5. By Industry
    14.3. Market Attractiveness Analysis
        14.3.1. By Component
        14.3.2. By Professional Services
        14.3.3. By Fleet Type
        14.3.4. By Application
        14.3.5. By Industry
    14.4. Key Takeaways
15. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
    15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        15.2.1. By Component
        15.2.2. By Professional Services
        15.2.3. By Fleet Type
        15.2.4. By Application
        15.2.5. By Industry
    15.3. Market Attractiveness Analysis
        15.3.1. By Component
        15.3.2. By Professional Services
        15.3.3. By Fleet Type
        15.3.4. By Application
        15.3.5. By Industry
    15.4. Key Takeaways
16. Market Structure Analysis
    16.1. Competition Dashboard
    16.2. Competition Benchmarking
    16.3. Market Share Analysis of Top Players
        16.3.1. By Regional
        16.3.2. By Component
        16.3.3. By Professional Services
        16.3.4. By Fleet Type
        16.3.5. By Application
        16.3.6. By Industry
17. Competition Analysis
    17.1. Competition Deep Dive
        17.1.1. Trimble Inc.
            17.1.1.1. Overview
            17.1.1.2. Product Portfolio
            17.1.1.3. Profitability by Market Segments
            17.1.1.4. Sales Footprint
            17.1.1.5. Strategy Overview
                17.1.1.5.1. Marketing Strategy
        17.1.2. Cisco Systems, Inc.
            17.1.2.1. Overview
            17.1.2.2. Product Portfolio
            17.1.2.3. Profitability by Market Segments
            17.1.2.4. Sales Footprint
            17.1.2.5. Strategy Overview
                17.1.2.5.1. Marketing Strategy
        17.1.3. GoFleet Corporation
            17.1.3.1. Overview
            17.1.3.2. Product Portfolio
            17.1.3.3. Profitability by Market Segments
            17.1.3.4. Sales Footprint
            17.1.3.5. Strategy Overview
                17.1.3.5.1. Marketing Strategy
        17.1.4. Geotab Inc.
            17.1.4.1. Overview
            17.1.4.2. Product Portfolio
            17.1.4.3. Profitability by Market Segments
            17.1.4.4. Sales Footprint
            17.1.4.5. Strategy Overview
                17.1.4.5.1. Marketing Strategy
        17.1.5. Digital Matter
            17.1.5.1. Overview
            17.1.5.2. Product Portfolio
            17.1.5.3. Profitability by Market Segments
            17.1.5.4. Sales Footprint
            17.1.5.5. Strategy Overview
                17.1.5.5.1. Marketing Strategy
        17.1.6. GPS Trackit
            17.1.6.1. Overview
            17.1.6.2. Product Portfolio
            17.1.6.3. Profitability by Market Segments
            17.1.6.4. Sales Footprint
            17.1.6.5. Strategy Overview
                17.1.6.5.1. Marketing Strategy
        17.1.7. Fleetmatics Group PLC
            17.1.7.1. Overview
            17.1.7.2. Product Portfolio
            17.1.7.3. Profitability by Market Segments
            17.1.7.4. Sales Footprint
            17.1.7.5. Strategy Overview
                17.1.7.5.1. Marketing Strategy
        17.1.8. GoGPS
            17.1.8.1. Overview
            17.1.8.2. Product Portfolio
            17.1.8.3. Profitability by Market Segments
            17.1.8.4. Sales Footprint
            17.1.8.5. Strategy Overview
                17.1.8.5.1. Marketing Strategy
        17.1.9. Wireless Links
            17.1.9.1. Overview
            17.1.9.2. Product Portfolio
            17.1.9.3. Profitability by Market Segments
            17.1.9.4. Sales Footprint
            17.1.9.5. Strategy Overview
                17.1.9.5.1. Marketing Strategy
        17.1.10. Embitel
            17.1.10.1. Overview
            17.1.10.2. Product Portfolio
            17.1.10.3. Profitability by Market Segments
            17.1.10.4. Sales Footprint
            17.1.10.5. Strategy Overview
                17.1.10.5.1. Marketing Strategy
        17.1.11. Gurtam
            17.1.11.1. Overview
            17.1.11.2. Product Portfolio
            17.1.11.3. Profitability by Market Segments
            17.1.11.4. Sales Footprint
            17.1.11.5. Strategy Overview
                17.1.11.5.1. Marketing Strategy
        17.1.12. Teletrac Navman
            17.1.12.1. Overview
            17.1.12.2. Product Portfolio
            17.1.12.3. Profitability by Market Segments
            17.1.12.4. Sales Footprint
            17.1.12.5. Strategy Overview
                17.1.12.5.1. Marketing Strategy
        17.1.13. Linxio
            17.1.13.1. Overview
            17.1.13.2. Product Portfolio
            17.1.13.3. Profitability by Market Segments
            17.1.13.4. Sales Footprint
            17.1.13.5. Strategy Overview
                17.1.13.5.1. Marketing Strategy
        17.1.14. StreetFleet
            17.1.14.1. Overview
            17.1.14.2. Product Portfolio
            17.1.14.3. Profitability by Market Segments
            17.1.14.4. Sales Footprint
            17.1.14.5. Strategy Overview
                17.1.14.5.1. Marketing Strategy
        17.1.15. TigerFleet
            17.1.15.1. Overview
            17.1.15.2. Product Portfolio
            17.1.15.3. Profitability by Market Segments
            17.1.15.4. Sales Footprint
            17.1.15.5. Strategy Overview
                17.1.15.5.1. Marketing Strategy
        17.1.16. WebEye Telematics Group
            17.1.16.1. Overview
            17.1.16.2. Product Portfolio
            17.1.16.3. Profitability by Market Segments
            17.1.16.4. Sales Footprint
            17.1.16.5. Strategy Overview
                17.1.16.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
Recommendations

Technology

Fleet Management Market

March 2023

REP-GB-3186

322 pages

Technology

Connected Logistics Market

January 2023

REP-GB-4287

316 pages

Explore Technology Insights

View Reports
Future Market Insights

Fleet Management Industry Analysis in Korea

Schedule a Call