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Home Technology AI and Machine Learning

SEA attracted to sophisticated fleet management systems

FutureIoT Editors by FutureIoT Editors
November 11, 2024
Photo by Tom Fisk from Pexels: https://www.pexels.com/photo/aerial-photography-of-parked-trucks-3245123/

Photo by Tom Fisk from Pexels: https://www.pexels.com/photo/aerial-photography-of-parked-trucks-3245123/

The fleet management (FM) solutions market in Southeast Asia (SEA) is poised for significant growth, with projections indicating that the installed base of FM systems will reach 5.4 million units by 2028. This represents a compound annual growth rate (CAGR) of 13.7%, up from approximately 2.8 million units in 2023.

The penetration of fleet management technology in business vehicles is also expected to rise from 15.7% in 2023 to 25.7% by 2028, driven by economic growth, heightened competition in transportation and logistics, and increasing awareness of fleet telematics.

The report examines key markets within the region, including Indonesia, Malaysia, Singapore, Thailand, and the Philippines, highlighting their similarities and unique regulatory environments. While the SEA market is less developed compared to global standards, there is a noticeable shift towards adopting more sophisticated fleet management solutions, particularly in Singapore, where advanced systems have seen greater penetration.

William Ankréus, IoT analyst at Berg Insight, notes, “The fleet telematics industry in Southeast Asia is still nascent in many respects, with major parts of the addressable market remaining largely untapped. The region could gain considerably from an increasing focus on supply chain optimisation through technology to improve visibility and sustainability.”

Berg Insight identifies Jimi IoT, Cartrack (Karooooo), and TransTRACK as the leading providers of FM solutions in SEA, each boasting installed bases of over 100,000 units. Other notable players include DTC and Onelink from Thailand, along with regional firms like Katsana (Malaysia), GPSiam (Thailand), and EasyGo (Indonesia). International vendors such as Gurtam, Geotab, and SquareGPS have also made significant inroads, often leveraging white-label solutions for quicker market entry.

The growing adoption of feature-rich fleet management systems indicates a shift in market dynamics, with companies increasingly recognizing the value of advanced technology for optimizing operations. As the sector matures, there remains substantial opportunity for both local and international vendors to capture market share in this evolving landscape.

With a robust outlook for fleet management systems in Southeast Asia, businesses will likely invest heavily in telematics solutions to enhance operational efficiency and sustainability in the coming years.

Related:  BBTruck and Haulio come together to enhance logistics in Southeast Asia
Tags: Berg Insightfleet management
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The race to harness the power of Internet of Things (IoT) is here. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation, originating from Asia. << Read more >>

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