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The installed base of fleet management systems in the Americas to reach 37 million units by 2027

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 15.3 million in Q4-2022.

Growing at a compound annual growth rate (CAGR) of 12.6 percent, this number is expected to reach 27.6 million by 2027.

In Latin America, the number of active fleet management systems is expected to grow at a CAGR of 12.6 percent from 5.3 million in Q4-2022 to reach 9.6 million in 2027.

There are now more than 30 players with installed bases of over 100,000 active fleet management units in the Americas. At the end of 2022, the top-30 vendors together had nearly 15 million vehicles under management in the region and the top-10 alone represented 50 percent of the total installed base in the Americas.

Geotab, Verizon Connect and Samsara are the leading fleet telematics providers in the Americas in terms of the number of active fleet management subscribers in the region.

“Geotab is clearly in the lead with an installed base in the three million range, ahead of Verizon Connect in second place followed by Samsara”, said Rickard Andersson, Principal Analyst, Berg Insight.

The remaining top-5 players in the region are Solera Fleet Solutions and Trimble Transportation, both active in the industry for decades.

“Additional solution providers with more than half a million units include Lytx, CalAmp, Gurtam and Motive as well as Zonar Systems which is owned by Continental”, continued Mr. Andersson.

He adds that in addition to Continental, the world leading tire manufacturers Michelin and Bridgestone have also established strong positions in the fleet management space through acquisitions. The remaining top-15 players include MICHELIN Connected Fleet, Bridgestone Mobility Solutions, Fleet Complete, Powerfleet and GPS Insight (including Certified Tracking Solutions).

“Powerfleet has recently announced an agreement with MiX Telematics to form a combined business which will be branded as Powerfleet”, said Mr. Andersson.

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 milestone of one million connected units worldwide has already been surpassed by more than ten solution providers. Five of the vendors have achieved two million units and two players have surpassed the three million mark.

“Geotab has this month even reached four million subscriptions globally”, concluded Mr. Andersson.

Download report brochure: Fleet Management in the Americas

The post The installed base of fleet management systems in the Americas to reach 37 million units by 2027 appeared first on IoT Business News.

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