The car fleet management market - Italy

Fleet management is a service that allows companies to delegate the administration of their employees' vehicles to professionals. This area is intertwined with the car leasing market, which includes both long-term leases and those with a purchase option. Vehicle reservation, i.e., management of vehicle reservation requests and subsequent assignment to drivers, vehicle control and management, i.e., data entry and updating of each vehicle to get a view of overall costs, and vehicle reporting are the four macro-areas into which needs related to corporate fleet management can be divided. Because of the high cost of fleet management, it is sometimes necessary to outsource this function; this has led to the creation of fleet management agencies that act as intermediaries between user companies and suppliers of goods and services, from rental companies to maintenance shops. The size of the global fleet management market is estimated to reach $20.6 billion in 2021 and grow to $33.9 billion by 2026, with a CAGR of 10.5 %. In Italy, fleet management has been a reality for several years now and is seeing medium-to-high development and diffusion. In the last two years, the Italian market has had to adapt to new challenges through new strategies and interesting innovations that have further increased its development and diffusion among Italian companies. By now, all fleet management systems are remote and are practically always outsourced; therefore, the market is very fragmented as these are services that can be provided by both small and large companies. Italy represents a very prolific market that requires great adaptability on the part of companies operating in the sector; the next edition of MissionFleet Awards 2022, or the award for the best fleet management systems adopted by companies, will be held in Milan, bringing great attention and focus to the sector. It is clearly a complex sector whose administration can be transformed by the introduction of the Internet of Things the new connected technologies make it much easier to monitor and control data through software that updates data in real time. Fleet management systems will be critically important in managing the energy transition and the best mobility-related corporate welfare product or project.