Fleet Management Systems Get a Charge

Being able to effectively manage a fleet of vehicles offers a number of benefits such as saved time and costs. In the past, some hurdles to implementation have been cost to implement and technology complexity. Now, however, one analyst firm is predicting significant growth for the installed base of fleet management systems.

In a new report from Berg Insight, the analyst firm forecasts the installed base of fleet management systems in the Americas will exceed 16 million units by 2020.

In the fourth quarter of 2015, the number of active fleet management systems deployed in commercial vehicle fleets was 5.8 million in North America and 2.3 million in Latin America.

Looking to 2020, Berg Insight says the number should soar to 12.7 million in North America, which is a compound annual growth rate of 17 percent. Meanwhile, in Latin America, the number is expected to increase to 4.1 million in 2020, which is a 12.8 percent compound annual growth rate.

During the past several years, the fleet management industry has been in a phase of consolidation, with a number of mergers and acquisitions happening in the space.

What’s more, the top 15 providers having a combined installed base of more than 4 million active units and the top 5 players account for 2.5 million units.

Additionally, Berg Insights anticipates that at least one of the solution providers will have reached the milestone of 1 million fleet management units globally by 2018.

For the construction industry, fleet-management solutions enable faster, more efficient project delivery, while saving costs. And predictions such as this suggest use will grow on jobsites in the future, perhaps even greater than previously had been anticipated, some analysts suggest.

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