Geotab has announced that it has surpassed 3 million subscribers worldwide, signaling a strong market for fleet telematics and data products. The 22-year-old company has added 1 million new subscriptions, despite the global pandemic, since 2020, said Geotab CEO Neil Cawse.
Geotab has leveraged the data from its devices, saying 55 billion data points are harvested each day. In addition, the company’s OEM telematics platform has been installed in many government fleets.
“In the government sector specifically, there is certainly additional opportunity for expansion as fleets seek to better manage and optimize performance and achieve sustainability commitments and mandates,” Cawse said. “Geotab is the telematics provider for New York City and the State of California among others, and has just recently added the State of Ohio, Oklahoma and the US Airforce, and will continue to drive success in this segment moving forward.”
As a location market, commercial telematics continues to mature, with an estimated grow of $34.79 billion in 2020 to US$158.31 billion by 2028, the company said.
While fleet telematics seems to be growing in such places as South America, mature markets like those in the United Kingdom have been fueled by government regulations. In fact, this week, The UK Ministry of Transportation is mandating that every vehicle (in categories N2 and N3) that were manufactured on and after Sept. 1, 2022, or new models made on Jan. 1, 2023, will be required to be outfitted with a tracking system if they carry hazardous goods.