Article Commercial fleet management systems are sweeping the Americas

Commercial fleet management systems
are sweeping the Americas

Kindel Media

By AJ Irving, December 2024

Fleet management systems in the Americas are seen to reach 43 million in 2028 from just under 24 million in early 2024, up by nearly 80% in five years.

In North America, the number of fleet management systems in commercial vehicles is forecast to grow by 75.3%, reaching 30.5 million in 2028, compared to 17.4 million in late 2023, according to a report from IoT market research provider Berg Insight.

This represents a compound annual growth rate (CAGR) of 11.9%. Meanwhile, in Latin America, the number of fleet management systems is set to double, going from 6.5 million to 13 million, a CAGR of 14.9%.

The Americas now have more than 30 companies with over 100,000 active fleet management units. As of late 2023, the 30 largest companies together managed over 16 million vehicles, with the top 10 accounting for half of the region’s total installed base.

“A handful of solution providers have emerged as frontrunners on the fleet management market in the Americas and the top five players have now all reached the million-unit mark in terms of installed base”, says Berg Insight Principal Analyst Rickard Andersson.

Rickard Andersson

Some big players are standing out in this market. Geotab, based in Canada, leads the pack with more than 3 million active fleet management subscribers, mostly in North America. They’re followed by US-based companies like Verizon Connect, Samsara, CalAmp, and Solera Fleet Solutions International.

Other companies with at least 500,000 active units include Lytx, Motive, Trimble, Gurtam, GPS Insight, Fleet Complete (Powerfleet), Bridgestone Mobility Solutions, Michelin Connected Fleet, and Zonar Systems (Continental). Several of these companies, like the tire giants Bridgestone, Michelin, and Continental, have strengthened their positions through acquisitions.

Powerfleet, in particular, has grown by acquiring both Fleet Complete and MiX Telematics, says Rickard, adding that Trimble’s global transportation telematics business is also being acquired by Platform Science, with the deal expected to close by June 2025.

See some of the main players in the market here.

Keep your eyes out fleet experts! The market seems headed for a future where a few big players dominate, each managing millions of fleet systems across the globe.