Is The Fleet Management Market Worth Investing In?

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There aren’t many markets that investors can turn to today for a safe investment. With the world in economic turmoil, it seems that uncertainty is the only certainty in the financial markets. However, there are still some industries that are expected to perform well over the next couple of years. The fleet management market is one of them.

Is The Fleet Management Market Worth Investing In? - Brand Spur

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What Is Fleet Management?

Fleet management services are essential for any business that operates commercial vehicles. Fleet management refers to the range of technologies and techniques that now exist to enable businesses to easily oversee their fleet of vehicles and monitor their status and performance. In doing so, businesses can ensure that they are always operating at maximum productivity and efficiency. Without proper fleet management in place, it is hard to utilize company vehicles to their full efficiency.

Why Do Businesses Need It?

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For any business operating a fleet of commercial vehicles, fleet management services are essential. There are a number of reasons that fleet operators need to have access to the tools necessary to properly manage their fleets.

First of all, fleet management ensures maximum efficiency. Businesses like Trimble Transportation offer comprehensive fleet management solutions that offer businesses the analytical tools they need to make more informed decisions about their commercial fleets.

Another important benefit of a fleet management system is that it can improve the safety of vehicle operators. Ensuring the safety of drivers is a paramount concern for any business that operates its own vehicle fleet. This is difficult to do when the manager of a fleet is located hundreds of miles away from the vehicles themselves. Fleet management systems ensure that all the most important metrics are being relayed to management.

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Finally, the proper management of a fleet enables businesses to minimize their costs in a variety of different ways. For example, fleet management solutions enable more efficient fuel usage. This, in turn, means that businesses need to spend less money keeping their fleet of vehicles fueled.

The State Of The Market

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Fleet management services are an essential purchase for a variety of businesses. As the technologies involved have become cheaper and more accessible, the prevalence of fleet management services around the world has increased accordingly. Right now, fleet management services can be found in every nation and market.

The Future Of The Market

According to one report, the fleet management services market is expected to grow by $6.46 billion between 2020 and 2024 in Europe alone. This represents a cumulative annual growth rate of 14% over the forecast period. Similar trends are being repeated across the world as a growing number of businesses turn to fleet management services to enable them to manage their vehicles more effectively.

The global fleet management market is expected to undergrow an impressive growth spurt over the next couple of years. The trends being observed in Europe are indicative of the growing prominence of fleet management services throughout the world. Any investor looking for a strong and relatively safe industry to invest in should seriously consider taking a punt on the fleet management industry.

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Is The Fleet Management Market Worth Investing In? - Brand SpurIs The Fleet Management Market Worth Investing In? - Brand Spur

Latest News

Chubb launches “Chubb LifeBalance” in Korea, a 360 degree personalised Health and Well-being App

SEOUL, SOUTH KOREA - Media OutReach - 12 April 2021 - Chubb today announced its release of "Chubb LifeBalance" in Korea, a digital health and well-being application that encourages people to incorporate healthy routines into their lifestyle.


Is The Fleet Management Market Worth Investing In? - Brand Spur


Chubb LifeBalance comprehensively assesses the lifestyle of users and provides a holistic view of health to help them to objectively measure and manage their own health condition.


Once users set their personal goals within the app, such as walking 5,000 steps a day, reducing snack consumption, and establishing a meditation and/or sleep routine etc., the coaching functionality starts to monitor and encourage the users to achieve their goals.


Chubb LifeBalance tracks and records over 115 different activities—including yoga, swimming, boxing, and meditation, and lets users invite their friends and family to join challenges and compete in these activities together. It connects with a full range of health devices and other apps such as Fitbit, Strava and Garmin.


Based on over 2,500 clinical papers and years of clinical data collected from over 300 million people, reputable teams from the Massachusetts Institute of Technology (MIT) USA participated in building a credible health score system behind the app so that users can effectively monitor their overall health and well-being.


The health points, based on activities and goal achievements set on the app, can be exchanged for mobile vouchers at various coffee shops, gas stations, and grocery stores to enjoy varied benefits. These are only available as exclusive incentives to existing Chubb customers.


Edward Ler, Country President of Chubb's general insurance business in Korea said, "Chubb LifeBalance was created to offer more advanced and personalized health and well-being services for the customers in Korea who lead busy lifestyles. We believe Chubb LifeBalance will help our customers strive towards a sustainable and balanced lifestyle."


The app is currently available on the Google Play Store and Apple App Store.


About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: www.chubb.com.


Is The Fleet Management Market Worth Investing In? - Brand Spur
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