ABI Research expects fleet management penetration to rise over the next five years—the fastest in Eastern Europe and Asia Pacific—with a global CAGR of over 11% as commercial telematics innovations drive new business models. The industry's rapid convergence is evident in the new partnerships arising, such as the one between prognostics supplier Noregon with Geotab and Omnitracs, as well as another in which fleet safety solutions provider Lytx infused its video capabilities with artificial intelligence and analytics from Olea Sensor Networks.
"We expect further consolidation and key acquisitions as multiple supply chain players exhibit a fear of missing out on this key market opportunity," concludes Beardslee.
These findings are from ABI Research's Commercial Telematics (https://www.abiresearch.com/market-research/product/1025258-commercial-telematics/) report.
About ABI Research
ABI Research stands at the forefront of technology market research, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company's global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit www.abiresearch.com.
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SOURCE ABI Research