The number of active fleet management systems deployed in commercial vehicle fleets in Europe was 9,1-million in Q4-2018, according to a new research report from the IoT analyst firm Berg Insight.
Growing at a compound annual growth rate (CAGR) of 14,1%, this number is expected to reach 17,6-million by 2023.
The top 22 vendors today have more than 100 000 active units in Europe.
The consolidation trend in this market continued in 2019.
“Twelve major mergers and acquisitions have taken place in the past twelve months among the vendors of fleet management systems in Europe,” says Johan Fagerberg, principal analyst at Berg Insight.
Fagerberg anticipates that the market consolidation of the still overcrowded industry will continue in 2019-2020.