The fleet management market in Australia and New Zealand is forecasted to grow at a compound annual growth rate (CAGR) of 15% from almost 0.9 million units in 2018 to nearly 1.8 million by 2023, according to a report by Berg Insight.
The fleet telematics market in the region is today influenced by several different drivers including regulatory developments related to health and safety regulations, chain of responsibility legislation, and road user charges, according to the report.
Some of the topic fleet management solution providers in the region are Teletrac Navman, EROAD and Verizon Connect, the report found.
Similarly, the penetration rate in the total population of non-privately owned fleet vehicles used by businesses is at the same time estimated to increase from 18.5% in 2018 to 33.6 percent in 2023.
Originally posted on Automotive Fleet