The marketplace for fleet administration (FM) options in Southeast Asia (SEA) has been in a development interval for a number of years.
The market skilled fairly important setbacks in the course of the pandemic, however the present outlook is constructive as a result of a number of elements comparable to basic financial development, growing competitors within the transportation and logistics sector in addition to a rising consciousness of fleet telematics.
The overall variety of FM methods in lively use is forecasted to develop at a compound annual development fee (CAGR) of 13.7 p.c from about 2.8 million items in 2023 to nearly 5.4 million items by 2028. The penetration fee within the whole inhabitants of fleet autos utilized by companies is on the identical time estimated to extend from 15.7 p.c in 2023 to 25.7 p.c in 2028.
The report covers the next key markets in Southeast Asia: Indonesia, Malaysia, Singapore Thailand and the Philippines in addition to an summary of the Remainder of SEA. The fleet administration markets in Southeast Asia to a big extent resemble one another however are additionally affected by totally different rules and basic financial development ranges within the respective international locations. Frequent traits between the markets embrace being much less developed than different areas of the world and having comparably low penetration charges from a global perspective.
Removed from all deployments are full-scale superior fleet administration options and a notable share of the put in base is represented by comparatively fundamental monitoring methods with pretty restricted FM performance. The adoption of extra feature-rich fleet administration methods is nonetheless growing throughout the whole area. One nation that stands out from the gang is Singapore, the place extra superior fleet administration options with a better worth level have had a better adoption additionally traditionally.
William Ankréus, IoT Analyst, Berg Perception, mentioned:
“The fleet telematics industry in Southeast Asia is in many respects still nascent, with major parts of the addressable market remaining largely untapped. The region could gain considerably from an increasing focus on supply chain optimisation through the use of technology to improve visibility and sustainability.”
Berg Perception ranks Jimi IoT, Cartrack (Karooooo) and TransTRACK as the most important suppliers of fleet administration options in Southeast Asia.
“These three companies all have total installed bases of over 100,000 fleet management units in SEA on their respective platforms. The fleet management market in Southeast Asia is served by a wide range of vendors of varying size and origin”, continued Mr. Ankréus.
A part of the top-5 are additionally DTC and Onelink from Thailand. Different top-15 distributors with estimated put in bases of greater than 30,000 lively items within the area embrace native and regional answer suppliers comparable to Katsana headquartered in Malaysia, GPSiam from Thailand, Indonesian EasyGo, Astrata Group and V3 Sensible Applied sciences based mostly in Singapore, in addition to worldwide gamers together with Gurtam (Wialon) from Lithuania, WanWayTech from China, Canada-based Geotab, SquareGPS (Navixy) headquartered within the US and Sweden-based GpsGate.
“Notably, international providers of white-label solutions have done particularly well in Southeast Asia as telematics service providers in the region have opted for faster time to market and the flexibility of readymade solutions”, concluded Mr. Ankréus.
Extra notable distributors furthermore embrace Radius Telematics headquartered within the UK, Thailand-based Nostra Logistics and Forth Monitoring System, Gussmann Applied sciences and SafeTruck from Malaysia, Indonesian McEasy, Overdrive IoT and TNT Surveillance from Singapore, Tramigo headquartered in Finland, FleetHunt based mostly within the Philippines in addition to EUPFin from Taiwan.
