Frost Radar™: Telematics in Vehicle Leasing & Rental Markets in the Americas

Frost Radar™: Telematics in Vehicle Leasing & Rental Markets in the Americas

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Despite the slump and slow recovery in automotive sales following the pandemic and ongoing semiconductor shortages, the vehicle leasing and rental industry in the Americas is on a robust growth trajectory. The Americas denotes Canada, the United States, Argentina, Brazil, and Mexico. Leasing and rental companies in North America and Latin America favor implementing telematics and fleet management solutions in their fleets. Growing concerns among fleet companies, primarily in Latin America, about vehicle theft, negligent driving, and increased road fatalities demand feature-rich connected technologies that prioritize safety, security, and fleet management functions. With telecom and technology companies expanding their portfolio into the internet of things (IoT) solutions, it is imperative that these industry stakeholders extend partnerships with telematics companies and offer fleet management solutions that benefit fleet companies, corporates, and other stakeholders in the vehicle leasing and rental ecosystem.

Connected features enabled by advanced IoT, artificial intelligence (AI), and machine learning technologies in automotive telematics will help vehicle leasing and rental companies to incorporate new functionalities, such as ADAS, video safety, and keyless access to their fleets.

The emergence of connected car solutions and safety standards within the shared mobility sector will also boost the growth of insurance telematics across leasing and rental fleets to help companies determine insurance claims and premium calculations based on telematics data.

This Frost Radar™ focuses on fleet telematics in the passenger and light commercial vehicle leasing and rental markets. Frost & Sullivan independently plotted the top 10 companies in this analysis: CalAmp, Danlaw, Powerfleet, Guidepoint Systems, Geotab, Verizon Connect, Ituran, Zubie, IMS, and Golfleet. The 10 companies plotted on the Frost Radar™ are benchmarked on 2 primary factors: (1) Innovation, which enables them to offer cutting-edge solutions, and (2) Growth, which allows these companies to hold a strong market position and influence growth trends in the market.