Market Research Report
U.S. Fleet Telematics Systems Market, By Products (Local Fleet Systems, Mobile Devices, Trailer Tacking & Monitoring Systems and Long Haul Fleet Systems) - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025
|Published by||AnalystView Market Insights||Product code||874764|
|Published||Content info||99 Pages
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|U.S. Fleet Telematics Systems Market, By Products (Local Fleet Systems, Mobile Devices, Trailer Tacking & Monitoring Systems and Long Haul Fleet Systems) - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025|
|Published: June 1, 2019||Content info: 99 Pages||
The U.S. fleet telematics systems market was valued at USD 2,350 million by 2017, growing with 11% CAGR during the forecast period, 2018-2025.
Fleet Telematics Systems industry is rapidly expanding owing to the growing demand from truck transportation coupled with increasing number of mobile internet connections. Transportation companies generally own large fleets of vehicles. These companies look to save money and increase the productivity of their drivers and vehicles by using telematics systems. As a result, when the trucking sector's revenue increases, it typically means that more carriers can afford to install telematics systems, driving the industry growth significantly. In addition, increasing access of fleet telematics systems on mobile devices, such as smartphones and tablets augment the market demand. Therefore, as the number of mobile internet connections rise, it will become easier for key players with vehicle fleets to use these systems, and demand for fleet telematics on mobile products will grow.
In terms of products, the market is categorized as;
Local fleet systems accounted for the highest revenue share, over 35% throughout the study period. These devices are installed directly into vehicles, allowing users to monitor things such as driver behavior, route productivity, fuel efficiency and vehicle location. Furthermore, software development has increasingly taken up a larger share of product offering as mobile applications and complex data analysis becomes more popular.
In terms of application, the market is categorized as;
Trucking dominates the market for fleet telematics systems, accounting for over 50% revenue share. Most customers in this market are for-hire carriers, but private fleets have become a major users over the past few years. Long-distance freight trucking companies were the first to invest in fleet telematics systems and remain a large market for the systems.
Trimble Navigation Limited emerged as the major player, capture over 20% industry share. The industry has also begun to rapidly consolidate. Despite the presence of nationwide major players, most of the industry comprises small-scale firms that only serve a small market, based on the functionality of the telematics systems they provide. The struggle to differentiate product offerings, enter new, unsaturated, markets and gain the economies of scale required to bring in and retain clients has incentivized player to merge.
The market size and forecast for each segment and sub-segments has been considered as below:
The scope of this report covers the market by its major segments, which include as follows: