According to a new report from the leading IoT market research provider Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in North America was 11.0 million in Q4-2019.
Growing at a compound annual growth rate (CAGR) of 15.0 percent, this number is expected to reach 22.2 million by 2024.
In Latin America, the number of active fleet management systems is expected to grow at a CAGR of 12.6 percent from 3.8 million in Q4-2019 to reach 6.8 million in 2024. There are more than 25 players with installed bases of at least 100,000 active fleet management units in the Americas. At the end of 2019, the top-25 vendors together had nearly 10 million vehicles under management and the top-10 represented 50 percent of the total installed base in the Americas.
Berg Insight ranks Geotab and Verizon Connect as the leading fleet telematics providers in the Americas. “The two front-runners are the only players which have surpassed the milestone of 1 million active fleet management subscribers in the region”, said Rickard Andersson, Principal Analyst, Berg Insight. Additional key providers include Trimble and Omnitracs, followed by the relative newcomer Samsara and the major video telematics player Lytx.
“The remaining top-10 players are Zonar Systems, Michelin, Fleet Complete and KeepTruckin, all having installed bases of at least a quarter of a million units in the region”, continued Mr. Andersson.
He adds that Michelin has established a strong position in the fleet management space through multiple acquisitions in the Americas and beyond. 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 seven solution providers, and three players have even reached the two million range.”
The post The installed base of fleet management systems in the Americas to reach 29 million units by 2024 appeared first on IoT Business News.
Original article: The installed base of fleet management systems in the Americas to reach 29 million units by 2024