The number of active fleet management systems deployed in commercial vehicle fleets in North America was 13,7-million in Q4-2021, according to market researcher Berg Insight, and with a CAGR of 13,7%, is expected to reach 26-million by 2026.
In Latin America, the number of active fleet management systems is expected to grow at a CAGR of 12,6% from 4,7-million in Q4-2021 to reach 8,5-million in 2026. 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,” says Rickard Andersson, principal analyst at Berg Insight. The frontrunner Geotab 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,” says Andersson, adding 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,” says 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 1-million connected units has already been surpassed by over 10 solution providers.
“Four of the vendors have reached 2-million units and two players has even surpassed the 3-million mark,” says Andersson.