Geotab (Canada) and Verizon Connect (US) are leading players in Fleet Management Market
The fleet management Market size is expected to grow from USD 25.5 billion in 2022 to USD 52.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.5% during the forecast period. Growing adoption of cloud computing and big data analytics solutions to streamline fleet management operations. Cloud computing and big data analytics can greatly enhance fleet management operations. Fleet managers can analyze driver behavior data to identify drivers prone to accidents. This data-driven insight can be leveraged to offer targeted training or interventions to enhance driver safety.
Various globally established players such as Geotab (Canada), Verizon Connect (US), Donlen (US), Inseego (US), and Teletrac Navman (US) are dominating the fleet management market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the fleet management market.
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Geotab has recently introduced Geotab 9, their newest telematics hardware edition. The Geotab 9 is a compact and lightweight device that can be effortlessly installed in any vehicle, regardless of its make or model. This advanced device gathers a comprehensive range of vehicle data, such as location, speed, fuel usage, and driver conduct. Leveraging this data enables driver safety, fuel savings, and overall fleet productivity enhancements. The Geotab 9 represents a notable advancement compared to earlier iterations of Geotab hardware. With enhanced functionalities and extended battery life, this device has become an invaluable asset for fleet managers aiming to enhance driver safety, decrease fuel expenses, and optimize overall fleet performance.
Another important player in the fleet management market is Verizon. Verizon Connect introduced its compact, discreet asset-tracking solution that is easy to conceal, self-install, and self-manage. This solution is designed for customers running their mobile business on the Verizon Connect Reveal fleet management platform. It helps reduce theft, improve equipment utilization and billing, and reduce downtime.
TravelCenters of America (US) and Trimble announced a software integration to provide a more convenient option for major fleet providers to receive truck maintenance. By using this new model of TMT Fleet Maintenance, users gain direct connectivity to TravelCenters of America’s repair locations to help streamline the repair process and maximize the utilization of their equipment.
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