According to a new report from Berg Insight, a leading IoT market research provider, by the end of 2020, the number of active fleet management systems deployed in North American commercial fleets will be 12.3 million.
With a compound annual growth rate (CAGR) of 14.0%, this number is expected to reach 23.6 million by 2025.
In Latin America, the number of active fleet management systems is expected to grow at a compound annual growth rate of 13.1%, from 4.2 million at the end of 2020 to 7.9 million in 2025. There are now more than 30 participants with an installed base of at least 100,000 active fleet management units in the Americas.
By the end of 2020, the top 30 suppliers managed more than 11 million vehicles in the region, and the top 10 suppliers accounted for almost 50% of total installations in the Americas.
Berg Insight lists Geotab and Verizon Connect as the leading fleet telematics providers in the Americas. These two front-runners are the only participants in the milestone of over 1 million active fleet management users in the region.
“Geotab even reached the 2 million mark”, Said Rickard Andersson, principal analyst at Berg Insight.
Other major suppliers with more than 500,000 devices include Omnitracs, Trimble, Lytx, Zonar Systems and Samsara.
“The remaining top 15 players are Michelin, Fleet Complete, Gurtam, KeepTruckin, Teletrac Navman, Azuga, CalAmp and PowerFleet, all of which have installed at least hundreds of thousands of devices in the area”, Mr. Anderson continued.
He added that Michelin has established a strong position in the field of fleet management through multiple acquisitions in the Americas and other regions. Bridgestone is now following closely behind, acquiring European market leader Webfleet Solutions (formerly TomTom Telematics) in 2019, and acquiring Azuga, headquartered in the United States, in September 2021. Driven by a growth strategy based on mergers and acquisitions activities and rapid organic growth, Berg Insight predicts that in future scenarios, the global fleet management market will be dominated by a few suppliers with millions of installed bases.
Mr. Anderson concluded:
“The global milestone of 1 million connected devices has been surpassed by 10 solution providers, of which 3 have reached 2 million.”
