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 |
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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.
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.
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.
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:
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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 |
The anticipated CAGR for Korea's fleet management industry through 2033 is 6.4%.
Demand for fleet management solutions in Korea is likely to reach US$ US$ 1,298.80 million by 2033.
Trucks, buses, and cars are the favored choices for fleet management solutions, comprising 42.30% of the industry share.
In Korea, the hardware component segment dominates the fleet management landscape, with a share of 48.20%.
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
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