Fleet Telematics Systems in the US - Industry Market Research Report

Fleet Telematics Systems in the US - Industry Market Research Report

Fleet Telematics Systems in the US

Fleet telematics systems have expanded rapidly through the end of 2023. Operators manufacture devices and develop service software to track the location and characteristics of fleet vehicles. Industry revenue is reliant upon demand from truck transportation, the industry's key downstream market, in addition to trade flows and the taxi and limousine industry. Although volatile fuel prices often distort industry revenue for the transportation sector, revenue is only affected if the industry's key markets encounter reduced revenue due to significantly deficient demand. This was the case amid the COVID-19 pandemic, which led to much lower economic activity in the US and overseas, including reduced demand for truck transportation and taxi & limousine services. Nonetheless, demand will regain momentum amid the recovering economy. Fleet telematics systems revenue has surged at a CAGR of 5.5% over the past five years, pushed up by a 2.8% increase to an estimated $8.5 billion in 2023 alone.

This industry manufactures hardware and software for fleet telematics systems. Fleet telematics systems use electronics and GPS to track the location and other characteristics (e.g. mileage or speed) of vehicles in a fleet. This industry includes fleet telematics systems for mobile devices.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.