$8.3bn
$XXX.Xm
22,661
288
$X.Xbn
The Fleet Telematics Systems industry has 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 industry revenue has been surging at a CAGR of 5.0% over the past five years and is expected to total $8.3 billion in 2023, when revenue will jump by an estimated 0.7%. Profit will increase amid falling purchase fees.
Industry revenue has grown at a CAGR of 5.0 % over the past five years, to reach an estimated $8.3bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Verizon Communications Inc. | 466.3 | 110.8 | 23.8 | |
Trimble Inc. | 464.0 | 35.3 | 7.6 | |
Vontier Corporation | 315.9 | 60.8 | 19.2 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Local fleet systems, Long haul fleet systems and Trailer tacking and monitoring systems . Local fleet systems is the largest segment of the Fleet Telematics Systems in the US.
Local fleet systems devices help maximize efficiency
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.
Purchase this report to view all 4 major companies in this industry.
NAICS 33451 - Fleet Telematics Systems in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The surge of mobile device usage provides the industry with a booming market. Rapidly improving software capabilities have led to greater telematics system use on mobile devi...
Learn about an industry's products and services, markets and trends in international trade.
Fleet telematics systems for local trucking remain the industry’s largest product segment. Producing software for mobile platforms also accounts for a significant portion of ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Fleet telematics systems manufacturers choose to locate themselves near suppliers, making the West a popular choice to set up establishments. Manufacturers can quickly and co...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competitive pricing is key to attracting downstream customers in a relatively low-margin industry. Fleet telematics systems manufacturers must be able to deliver a range of h...
Learn about the performance of the top companies in the industry.
Fleet telematics systems manufacturing is highly fragmented. Still, Verizon Communications Inc. is a strong player focusing primarily on the telecommunications market.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Fleet telematics systems manufacturers are under heavy environment and noise regulations. These include the Clear Water Act, Resource Conservation and Recovery Act, Clean Air...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases are the largest cost for fleet telematics systems manufacturers. Purchases include metal products, printed circuit boards, semiconductors, wireless communications d...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Fleet Telematics Systems in the US industry in United States is $8.3bn in 2024.
There are 288 businesses in the Fleet Telematics Systems in the US industry in United States, which has grown at a CAGR of 6.1 % between 2018 and 2023.
The market size of the Fleet Telematics Systems in the US industry in United States has been growing at a CAGR of 5.0 % between 2018 and 2023.
Over the next five years, the Fleet Telematics Systems in the US industry in United States is expected to grow.
The biggest companies operating in the Fleet Telematics Systems market in United States are Verizon Communications Inc., Trimble Inc. and Vontier Corporation
Manufacturing vehicle data collection and transmitting devices and Manufacturing fleet communication hub devices are part of the Fleet Telematics Systems in the US industry.
The company holding the most market share in United States is Verizon Communications Inc..
The level of competition is high and increasing in the Fleet Telematics Systems in the US industry in United States.