Eight million GPS/wireless devices are used to manage fleet vehicles, trailers, construction equipment and mobile workers, according to a new report by C.J. Driscoll & Associates, a supplier of telematics market research and consulting services.
According to the “2016-17 U.S. Mobile Resource Management Systems Market Study,” by 2019 this market will expand to more than 14 million units, and annual hardware and service revenues will grow to nearly $4.7 billion.
Growth has been strong in the local service and delivery fleet market, where the use of commercial telematics solutions is expanding at a rate of 15-20 percent per year. However, the trucking sector’s rate of growth is projected to exceed the local fleet market because of the recently issued regulations requiring the use of Electronic Logging Devices (ELDs) by interstate trucking fleets for monitoring driver hours of service.
While the largest GPS fleet management companies are becoming increasingly dominant, this has not discouraged new players from entering the market, some with considerable success. Overseas suppliers also continue to be drawn to the U.S. market due to its size and rate of growth.
The 323-page market study provides in-depth information on each major MRM market segment, including the markets for vehicle-installed GPS fleet management solutions for local service and delivery fleets and long haul trucking fleets. The market for driver behavior management systems is also examined, along with the emerging market for managing mobile workers with GPS-equipped smartphones and tablets. In addition, the study covers the markets for monitoring mobile assets, such as fleet trailers and heavy equipment.
The study assesses the current market penetration of MRM systems and services and projects annual subscriber and revenue growth through 2019. Detailed profiles are provided on more than 140 suppliers of MRM systems and services, including target markets, key features, installed base and pricing.