Dublin, Oct. 16, 2019 (GLOBE NEWSWIRE) -- The "Fuel Card Market to 2027 - Global Analysis and Forecasts By Type; Application" report has been added to ResearchAndMarkets.com's offering.
The global fuel card market is estimated to account to US$ 6.29 Bn in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period 2019-2027, to account to US$ 10.39 Bn by 2027.
The increasing penetration of digitization in various industries, including logistics and transportation, is driving the demand for efficient and transparent payment solutions. In addition to this, the changing consumer preferences and increasing technological shifts are the two major factors that are driving the paradigm shift in global payments and cards industry.
The rising penetration of mobile phones has led customers to embrace mobile and in-app payment methods over the traditional payment methods. This trend of using alternative payment methods over traditional ones is anticipated to drive the adoption of fuel cards in North America.
Various governments in this region are formulating policies to attract foreign direct investments (FDIs) in the technology sector with the increasing demand for enhanced digital services from customers. For instance, China's government relaxed the restrictions on new entries with an objective to encourage overseas and private capital investments in their economy. In the digital landscape, the Chinese government is very keen to maintain its stronghold and competitiveness through initiatives such as Industry 4.0, Made in China 2025, and Internet Plus.
Australia has also taken initiatives to promote digital transformation of various industries with announcement of Digital Transformation Strategy'. Over the past three years, Australia had delivered some transformational new services such as Airport SmartGates, myTax and Medicare which focused on transforming traditional services into digital services. This strategy lays a roadmap to 2025. Increasing tech savvy population, rising investments in digital solutions by enterprises and favorable government policies to promote digitization are some of the major factors that are expected to drive the demand of fuel cards in the Asia Pacific region.
The fuel card market has been segmented based on type, application, and geography. Based on type, the fuel card market has been segmented into branded fuel cards, merchant fuel cards, and universal fuel cards. In 2018, the universal fuel cards segment contributed a substantial share in the global fuel card market. The merchant branded fuel cards segment is anticipated to grow at a rapid CAGR of 6.6% during the forecast period. The fuel card market is further segmented on the basis application into fuel refill, parking, vehicle service, toll charge, and others.
Allstar, Arco, Caltex , Chevron Texaco, Commdel, EDC, Engen Petroleum Ltd., FastFuel, Fleetcare Pty Ltd, fuelGenie, Fuelman, and HDFC Bank few other market players from value chain which are not profiled in the report but the can be included based on request.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the fuel card market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Fuel Card Market - By Type
1.3.2 Global Fuel Card Market - By Application
1.3.3 Global Fuel Card Market - By Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Fuel Card Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Fuel Card Market - North America PEST Analysis
4.2.2 Fuel Card Market - Europe PEST Analysis
4.2.3 Fuel Card Market - Asia-Pacific PEST Analysis
4.2.4 Fuel Card Market - Middle East and Africa PEST Analysis
4.2.5 Fuel Card Market - South America PEST Analysis
5. Fuel Card Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Efficient fleet administration with the help of enhanced data capture
5.1.2 Less Fraudulent risk associated with the usage of fuel card is expected to drive the market
5.2 Key Market Restraints
5.2.1 Concerns related to security
5.3 Key market opportunities
5.3.1 Integration of telematics with fuel cards
5.4 Future Trends
5.4.1 Leveraging telematics with the adoption of fuel card
5.5 Impact Analysis of Drivers and Restraints
6. Fuel Card Market Analysis - By Type
6.2 Global Fuel Card Market Breakdown, By Type, 2018 & 2027
6.3 Branded Fuel Cards
6.4 Merchant Fuel Cards
6.5 Universal Fuel Cards
7. Fuel Card Market Analysis - By Application
7.2 Fuel Card Market Breakdown, By Application, 2018 & 2027
7.3 Fuel Refill
7.5 Vehicle Service
7.6 Toll Charge
8. Global Fuel Card Market - Geographic Analysis
8.2 North America Fuel Card Market Revenue and Forecast to 2027
8.3 Europe Fuel Card Market Revenue and Forecasts To 2027
8.4 APAC Fuel Card Market Revenue and Forecasts To 2027
8.5 Middle East and Africa Fuel Card Market Revenue and Forecasts To 2027
8.6 South America Fuel Card Market Revenue and Forecasts To 2027
9. Industry Landscape
9.1 Market Initiative
9.2 New Development
10. Fuel Card Market - Company Profiles
10.1 BP plc
10.2 DKV EURO SERVICE GmbH + Co. KG
10.5 Fleetcor Technologies Inc.
10.6 Radius Payment Solutions
10.7 Royal Dutch Shell PLC
10.8 U.S. Bank
10.9 World Fuel Services Corporation
10.10 WEX Inc.
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