C.J. Driscoll & Associates has released the 2021-22 U.S. Mobile Resource Management Systems Market Study that says approximately 18.0 million GPS/wireless devices are used to manage fleet vehicles, trailers, construction equipment, and field service workers. By 2024, the market will expand to more than 25 million units and revenues will grow to over $8 billion.
The fastest-growing sector in commercial telematics is video telematics. Video is penetrating all fleet segments due to the desire of fleet operators to determine liability in the event of an accident and for driver coaching. It is the fastest growing commercial telematics application, leveraging emerging technologies such as Artificial Intelligence, Machine Learning and Edge Computing. Merger and acquisition activity has been strong, which shows the confidence of both strategic and financial investors in the near and long term prospects for the commercial telematics industry.
High valuations are common for fast-growing, profitable solution providers, the study says. Global expansion continues with U.S. suppliers entering the European, Latin American, and ANZ markets and overseas suppliers entering the North American market, the study says. Insurance telematics is becoming more important for fleet insurers and TSPs. Some commercial insurers are mandating that fleets adopt telematics while other insurers are offering fleets discounts for adopting this technology.
The 368-page 2021-22 U.S. Mobile Resource Management Systems Market Study provides in-depth information on each major MRM market segment, including the markets for GPS fleet management solutions for local service and delivery, long haul trucking, government, and other fleet segments. The study includes in-depth company profiles.
Contact: Clem Driscoll, CJ Driscoll & Associates, (310) 717-7961, clemdriscoll@cjdriscoll.com www.cjdriscoll.com.
