According to a new report from market research firm Berg Insight, “Fleet Management in the Americas,” the number of active fleet management systems deployed in commercial vehicle fleets in North America was 11 million in the fourth quarter of 2019. Growing at a compound annual growth rate (CAGR) of 15%, analysts expect this number to reach 22.2 million by 2024. In Latin America, the number of active fleet management systems is expected to grow at a CAGR of 12.6% — from 3.8 million in Q4-2019 to 6.8 million in 2024.
There are more than 25 players with installed bases of at least 100,000 active fleet management units in the Americas. At the end of 2019, the top-25 vendors together had nearly 10 million vehicles under management and the top 10 represented 50% of the total installed base.
Read the full report for more detail as well as insight into which fleet telematics companies Berg Insight considers front-runners in the space and why. The market research firm anticipates a future scenario where the global fleet management market is dominated by a handful of providers with installed bases measured in the millions, driven by growth strategies based on M&A activity and high-pace organic growth.
“The milestone of one million connected units globally has already been surpassed by seven solution providers, and three players have even reached the two million range,” said Rickard Andersson, principal analyst with Berg Insight.
