The global fuel management systems market is expected to grow by US $ 1,084. 64 million in 2021 at US $ 2,089. 56 million by 2028; it is estimated to increase at a CAGR of 9. 82% from 2021 to 2028. In fuel management systems, the introduction of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), will increase demand and expand possibilities.
New York, January 07, 2022 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Fuel Management Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Component, Function and End User” – https://www.reportlinker.com/p06195596/?utm_source=GNW
Ongoing research and development efforts help develop sophisticated fuel management systems that benefit end users. Artificial intelligence can help correctly measure and track fuel stocks through an automated tank monitoring system. As a result, the fuel management systems market is expected to be driven by the effective use of AI solutions to control the gap between supply and demand and ensure the lowest fuel prices and environmental impact. across the world during the forecast period.
Telematics systems can do more than just track the movement of vehicles, and many of these features can help with fuel management. for individual drivers, individual cars, a specific part of the fleet or the entire fleet.
This information can then be used to spot patterns and indicate areas where efficiency can be improved. Likewise, track gasoline purchases to verify that drivers are only buying what their car needs and not refueling during off-peak hours, buying more fuel than their tanks can hold, or refueling. outside a predetermined area.
Furthermore, the COVID-19 outbreak has affected the overall growth rate of the global fuel management systems market in 2020 negatively to some extent, owing to the decline in revenues and the growth of companies operating in the market due to supply and demand disruptions. all along the value chain. Thus, there has been a decline in the year-over-year growth rate during the year 2020.
However, the sudden growth of vaccinations, COIVD-19 safety protocols, restrictions are lifted, which would have a positive impact on the production capacities of different industries, and therefore on the fuel management system as well. This upward growth is expected to normalize the growth of the fuel management systems market during the forecast period.
A few key companies operating in the fuel management systems market are Chevin Fleet Solutions; OPW fuel management systems; Franklin Refueling Systems; Gilbarco Inc .; Spa Piusi; Multiforce systems company; Navig8; Orpak Systems Ltd. ; Banlaw; and Syntech Systems, Inc. The report also includes secondary research on other companies which have significant market share.
The overall Fuel Management Systems market size has been calculated using primary and secondary sources. To begin the research process, an exhaustive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves to get overview and forecast for the Fuel Management Systems market with respect to all segments relating to the region. In addition, several primary interviews were conducted with participants and industry commentators to validate the data and gain further analysis. insights on the subject.
Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as industry experts. valuation, research analysts and key opinion leaders specializing in the fuel management systems market.
Read the full report: https://www.reportlinker.com/p06195596/?utm_source=GNW
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