Gothenburg, Sweden – November 20, 2023: According to a new report from the 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 expected to reach 27.6 million by 2027.
In Latin America, the number of active fleet management systems expected to grow at a CAGR of 12.6 percent. This growth will take the systems 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. Moreover, 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. Verizon Connect is in second place, followed by Samsara”, said Rickard Andersson, Principal Analyst, Berg Insight. Moreover, the remaining top-5 players in the region are Solera Fleet Solutions. Trimble Transportation is also active in the industry and has been for decades.
“Additional solution providers with more than half a million units include Lytx, CalAmp, Gurtam, and Motive. Zonar Systems, owned by Continental, is also among these providers.”, 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. The combined business will be branded as Powerfleet”, said Mr. Andersson. Berg Insight envisions a future scenario in which a few providers with installed bases in the millions dominate the global fleet management market, propelled by growth strategies centered on M&A activity and high-paced organic growth. More than ten solution providers have already surpassed the milestone of one million connected units worldwide. 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.
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