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The number of active fleet management systems deployed in commercial vehicle fleets in Australia and New Zealand will rise from 0.5 million in the fourth quarter of 2015 to 1.1 million by 2020, at a CAGR of 16%, according to the latest note from analyst firm Berg Insight.

The market in the region is driven positively by a number of factors including regulatory developments such as health and safety regulations, road user charges and electronic work diaries.

Rickard Andersson, senior analyst at Berg Insight, notes that Teletrac Navman is established as the leading regional provider in terms of subscriber base, but notes EROAD, IntelliTrac, MTData and Smartrak as other key players.

“The fleet management solution market in Australia and New Zealand is served by a variety of players ranging from small local vendors to leading international solution providers,” said Andersson. “The adoption levels for the OEM telematics initiatives however remain relatively modest and the market is so far clearly dominated by aftermarket solution providers serving fleets directly.”

The local suppliers Ezy2c and Coretex as well as the international vendors MiX Telematics, Ctrack and Geotab also possess a robust presence. A number of commercial vehicle OEMs have also launched fleet management offerings for vehicles marketed in the region either independently or working in partnership with a telematics supplier.

Berg Insight has been especially busy with its prognostications of late. Another report earlier this month argued that the global third party IoT platform market grew 36% to €610 million (£520.4m) in 2015, and expect revenues to see a 30.8% CAGR to €3.05 billion (£2.60bn) by 2021.