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 17.4 million in Q4-2023.
Growing at a compound annual growth rate (CAGR) of 11.9 percent, this number is expected to reach 30.5 million by 2028.
In Latin America, the number of active fleet management systems is expected to grow at a CAGR of 14.9 percent from 6.5 million in Q4-2023 to reach 13.0 million in 2028. There are well over 30 players with installed bases of more than 100,000 active fleet management units in the Americas. At the end of 2023, the top-30 vendors together had over 16 million vehicles under management in the region and the top-10 alone represented 50 percent of the total installed base in the Americas.
“A handful of solution providers have emerged as frontrunners on the fleet management market in the Americas and the top-5 players have now all reached the million mark in terms of installed base”, said Rickard Andersson, Principal Analyst, Berg Insight. Geotab, Verizon Connect and Samsara are the leading fleet telematics providers in the region.
“Canada-based Geotab is clearly in the lead, having more than 3 million active fleet management subscribers in North America alone as well as hundreds of thousands of units in Latin America”, continued Mr. Andersson.
He adds that US-based Verizon Connect and the relative newcomer Samsara are the runners-up in the Americas, followed by CalAmp and Solera Fleet Solutions. Additional solution providers with installed bases of more than half a million units in the Americas include Lytx, Motive, Trimble and Gurtam. Trimble Transportation has similarly to Solera Fleet Solutions been active in the industry for decades.
“Trimble’s global transportation telematics business units are now notably acquired by Platform Science in a transaction expected to close in the first half of 2025”, said Mr. Andersson.
The remaining top-15 players include Bridgestone Mobility Solutions, MICHELIN Connected Fleet, Fleet Complete (Powerfleet), Zonar Systems (Continental), GPS Insight and Powerfleet. Bridgestone, Michelin and Continental are all examples of major tire manufacturers that have established strong positions in the fleet management space through acquisitions.
“Powerfleet has expanded its presence considerably in the last year through the acquisitions of both MiX Telematics and most recently Fleet Complete”, said Mr. Andersson.
Many of the frontrunners are indeed driven by growth strategies combining strategic M&A activity and high-pace organic growth.
Mr. Andersson concluded:
“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 post The installed base of fleet management systems in the Americas to reach 43 million units by 2028 appeared first on IoT Business News.
