The number of active fleet management systems deployed in commercial vehicle fleets in Europe was 11,5-million at the end of 2020, according to a new research report from the IoT analyst firm Berg Insight.
Growing at a compound annual growth rate (CAGR) of 14,4%, this number is expected to reach 22,5-million by 2025.
The top-30 vendors have today more than 100 000 active units in Europe.
The consolidation trend on this market continued in 2021. “Eight mergers and acquisitions have taken place so far this year 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 2022.