Berg said that the number of active fleet management systems in North America had reached 13.7 million at the end of last year
The number of active fleet management systems deployed in commercial vehicle fleets in North America is forecast to reach 26 million by 2026, up compared to 13.7 million at the end of last year, according to a new report from Swedish IoT market research provider Berg Insight.
The report noted that the market is expected to grow at a compound annual growth rate (CAGR) of 13.7% during the period.
In Latin America, the number of active fleet management systems is expected to grow at a CAGR of 12.6% from 4.7 million at end 2021 to reach 8.5 million in 2026. According to the report, there are now more than 30 players with installed bases of at least 100,000 active fleet management units in the Americas. At the end of 2021, the top-30 vendors together had 13 million vehicles under management in the region and the top-10 alone represented 50% of the total installed base in the Americas.
“Geotab and Verizon Connect are the leading fleet telematics providers in the Americas,” said Rickard Andersson, principal analyst at Berg Insight. Geotab currently has well over 2 million active fleet management subscribers in the region. “The remaining top-5 players are Trimble and Solera Fleet Solutions, both active in the industry for decades, as well as the relative newcomer Samsara,” Andersson said.
The analyst also noted that additional solution providers with more than half a million units include Motive (formerly KeepTruckin), Lytx and Zonar Systems (Continental). The remaining top 15 players include Gurtam, Fleet Complete, Michelin, CalAmp, Bridgestone, Teletrac Navman and Powerfleet. “The world leading tire manufacturers Michelin and Bridgestone as well as Continental have all established strong positions in the fleet management space through acquisitions,” Andersson added.
Driven by growth strategies based on M&A activity and high-pace organic growth, 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. The IoT research firm also highlighted that the milestone of one million connected units has already been surpassed by over ten solution providers. “Four of the vendors have reached two million units and two players have even surpassed the three million mark,” Andersson said.
Berg Insight had previously said that the number of active fleet management systems deployed in commercial vehicle fleets in Europe will reach 22.5 million by 2024, up from 11.5 million at the end of 2020.
