Fleet Complete's 2021 Outlook Report Reveals Key Insights Into Shifting Telematics Industry
"Unpacking 2021 for Fleet Telematics in North America, Europe, and Australia" provides data-driven insights into the commercial vehicle industry, detailing trends gathered directly from stakeholders within the industry's ecosystem.
TORONTO, Feb. 3, 2021 /PRNewswire/ - Fleet Complete, a global provider of connected mobility solutions for business fleets, assets, and mobile workers, has released its annual report "Unpacking 2021 for Fleet Telematics in North America, Europe, and Australia", focusing on commercial vehicle industry trends and insights.
Between October and December of 2020, Fleet Complete conducted a Voice of Customer (VoC) research study, focused on its fleet clients. With survey data captured from fleets of all sizes, the report reveals findings on both the supply and demand sides of fleet telematics industry, identifying key trends and changes in the market today.
"Last year was all about adapting to the 'new normal' during the pandemic, placing a spotlight on fleets as essential services. This year, we continue to see growth leading to record market penetration, with customers demanding more of their telematics solutions," explains Sandeep Kar, Chief Strategy Officer at Fleet Complete.
The analysis in key markets indicates that fleets in North America, Europe, and Australia will add 3.2 to 3.9 million new subscriptions in 2021, representing 16% year-on-year growth.
The top three factors for investing in fleet telematics solutions in 2021, according to the study, are:
- Real-time tracking of vehicles and assets;
- Compliance and regulation; and
- Enhancing fleet safety through driver coaching.
Among newly added subscriptions in 2021, the industry will see a significant increase in, and customer appetite for, OEM connectivity (factory-fitted telematics hardware). The VoC also noted increased demand for video telematics, particularly from heavy-duty fleets:
- 73% of surveyed light-duty fleets and 68% of heavy-duty fleets showed interest in either choosing only factory-fitted telematics or a combination of factory-fitted telematics hardware for some vehicles and aftermarket hardware for others; and
- 63% of light-duty fleet customers and 81% of heavy-duty fleet customers will evaluate video telematics or are already using a video telematics solution.
Other notable shifts in customer views include the following:
- Fleet vehicles are regarded more as a service than a product;
- Telematics insights are becoming more predictive than descriptive; and
- Performance success revolves around owning vehicle data transactions rather than just owning vehicles.
These shifts will affect how solutions and services are engineered, and will dictate the importance of partnerships in the future, thus consolidating the industry ecosystem.
The report includes a number of recommendations for various stakeholding groups within the ecosystem – fleet-owners, vehicle manufacturers, wireless telecom providers, the financial services industry, and telematics solution providers. These recommendations provide a data-driven approach to success for organizations within the commercial vehicle industry in 2021.
To read the full report, please visit https://www.fleetcomplete.com/whitepaper/unpacking-2021-for-fleet-telematics/
About Fleet Complete
Fleet Complete® is a leading global provider of connected vehicle technology, delivering mission-critical fleet, asset and mobile workforce management solutions. The company is servicing approximately 600,000 subscribers and over 40,000 businesses and government organizations in Canada, the U.S., Mexico, Australia, and across Europe. It maintains key distribution partnerships with AT&T in the U.S. and Mexico, TELUS and Rogers in Canada, Telstra in Australia, Telia in Denmark, Cosmote in Greece, and Deutsche Telekom (T-Mobile) in multiple European countries. Fleet Complete cultivates strong OEM partnerships with global market leaders, such as Cummins, Ford, General Motors, Mitsubishi Australia, and Toyota, among others. It remains one of the fastest-growing companies globally, having won numerous awards for innovation and growth. For more information, please visit www.fleetcomplete.com
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