New market data from Berg Insight.
According to a new research report from the analyst firm Berg Insight, the number of fleet management systems deployed in commercial vehicle fleets in North America was 2.1 million in Q4-2010. Growing at a compound annual growth rate (CAGR) of 12.6 percent, this number is expected to reach 3.8 million by 2015. In Latin America, the number of installed fleet management systems is expected to increase from 0.9 million in Q4-2010, growing at a CAGR of 20.6 percent to reach 2.3 million in 2015.
The report cites customer awareness of the benefits of telematics as the main driver behind growth. “Today managers in North America generally know that fleet management technology can help their businesses reduce costs and improve efficiency. In Latin America, an educational process may however be needed in order to increase the awareness among prospective users about the benefits that fleet management solutions bring beyond mere security related features”, said Rickard Andersson, Telecom Analyst, Berg Insight.
New regulations related to road transport activities also have a major impact on the market environment. The recently implemented CSA safety scoring system in the US to identify high-risk motor carriers requiring interventions is one example. The hours-of-service regulations are further being revised and a mandate to use electronic on-board recorders to log working hours for truckers is likely to come in place starting in 2012 for new vehicles to eventually include all commercial vehicles. In Brazil, the mandated installation of tracking units in all new vehicles is also an important influencer of the development in this region.
Find out more here: http://www.berginsight.com/ShowReport.aspx?m_m=3&id=116