"As global connectivity gets more pervasive and vehicles become ever-more connected, the fleet management industry has entered a rapid phase of digitisation, and the marketplace in North America is set for a steady upturn over the course of the short-term future, driven by growth strategies based on M&A activity and high-paced organic growth, according to a study from Berg Insight."
"The internet of things analyst says the North American fleet management market is relatively consolidated, with the total number of active fleet management systems deployed in commercial vehicle fleets in North America at around 19.2 million in the fourth quarter of 2024, growing at a compound annual growth rate of 11.6%. Berg expects this number to reach 33.2 million units by 2029."
Global connectivity and increasingly connected vehicles are driving rapid digitisation across the North American fleet management industry. The installed base reached approximately 19.2 million active fleet management systems in commercial vehicle fleets in Q4 2024, with a compound annual growth rate of 11.6% projecting growth to about 33.2 million units by 2029. The market is relatively consolidated: ten players are estimated to have installed bases above 500,000 units, and the top five account for roughly half of active units. Growth is driven by M&A activity and fast organic expansion, led by Geotab, Samsara, Verizon Connect, CalAmp and Lytx.
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