ResearchAndMarkets.com has reported that the installed base of fleet management systems (FMS) in Australia and New Zealand (ANZ) is expected to grow significantly, reaching 2.7 million units by 2028.
This represents an increase from approximately 1.6 million units in 2023, with a compound annual growth rate (CAGR) of 11.5% over the five-year period.
The penetration rate of FMS in commercial vehicles is also predicted to climb, rising from 26.6% in 2023 to 39.5% by 2028. Regulatory requirements, including chain of responsibility legislation, health and safety standards, electronic work diaries, and road usage charges, are key drivers behind this growth.
Teletrac Navman, EROAD, and MTData are identified as leading FMS providers in the ANZ region.
Teletrac Navman, headquartered in the US under the Vontier brand, was among the first to achieve an installed base of 100,000 units. Similarly, EROAD, based in New Zealand, reached this milestone following its 2021 acquisition of Coretex. MTData, an Australian firm owned by Telstra, has also established a strong market presence.
Other notable providers include Verizon Connect and Netstar Australia. Canada’s Geotab has emerged as a growing player, particularly in Australia.
Local companies such as IntelliTrac, Linxio, and Smartrak, which operates under Constellation Software, are also active in the sector. International entrants like MiX by Powerfleet have expanded their footprint through acquisitions, including the 2024 purchase of Fleet Complete. Fleet Complete, which entered the ANZ market nearly a decade ago, originally acquired Geotab’s reseller, Securatrak.
Original equipment manufacturers (OEMs) are another important component of the market. Several have introduced fleet telematics solutions through direct channels or partnerships. OEMs active in the region include Toyota, Hino, UD Trucks, Volvo Group, and Daimler Truck.
Parallel to developments in fleet management, the global market for hybrid and electric vehicle (EV) insurance is projected to grow at a CAGR of 16.88% through 2030, according to a report from HTF Market Intelligence.
Increasing adoption of hybrid and EV technologies is driving demand for insurance products tailored to their specific risks, such as battery replacement costs and charging infrastructure challenges.
The report highlighted opportunities for insurers to develop specialised products catering to this growing segment. However, challenges such as higher repair costs for EV components and elevated premiums could limit consumer uptake.
Insurers are expected to explore strategies that align with the shift toward sustainable transportation, tapping into market opportunities created by regulatory changes and consumer demand for green technology.
The fleet management and hybrid/EV insurance markets are poised for substantial growth, shaped by technological advancements, regulatory developments, and evolving business priorities in the ANZ region.
