The installed base of fleet management systems in the Americas to reach 28 million units by 2023




The installed base of fleet management systems in the Americas to reach 28 million units by 2023

The installed base of fleet management systems in the Americas to reach 28 million units by 2023

According to a new report from the leading M2M/IoT market research provider Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in North America was 9.5 million in Q4-2018.

Growing at a compound annual growth rate (CAGR) of 17.0 percent, this number is expected to reach 20.8 million by 2023.

In Latin America, the number of active fleet management systems is expected to increase from 3.4 million in Q4-2018, growing at a CAGR of 15.1 percent to reach 6.9 million in 2023. All of the top-25 fleet management solution providers in the Americas for the first time had at least 100,000 active units each in the region at the end of 2018.

The top-25 vendors together had 8 million vehicles under management and the top-5 represented around 40 percent of the total installed base in the Americas.

Berg Insight still ranks Verizon Connect as the leader in the fleet telematics space in the Americas.

“Verizon’s closest competitor is Geotab which has grown considerably in the past years, now having an installed base of well over 1 million active fleet management subscribers in the region”, said Rickard Anderson, Principal Analyst, Berg Insight.

Geotab is followed by Trimble and Omnitracs. Zonar Systems rounds off the top-5, just ahead of Michelin which has established a strong position in the Americas and beyond through multiple acquisitions.

chart: installed base of active fleet management units - Americas 2018-2023“Teletrac Navman, Fleet Complete and KeepTruckin are also major players with estimated installed bases of at least a quarter of a million units in the region”, continued Mr. Andersson.

He adds that Berg Insight anticipates a future scenario where the global fleet management market is dominated by a handful of providers with installed bases measured in the millions, driven by growth strategies based on M&A activity and high-pace organic growth.

Mr. Andersson concluded:

“The milestone of one million connected units globally has already been surpassed by five solution providers, and three players have even reached the two million range.”

Download report brochure: Fleet Management in the Americas

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Original article: The installed base of fleet management systems in the Americas to reach 28 million units by 2023
Author: IoT.Business.News