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Russian market shows high growth for fleet management systems
Fleet management systems are seeing a large and growing market in Russia and the CIS with a compound annual growth rate of over 15 percent.
With local fleet management system suppliers being firmly in the doldrums, Russia and Eastern Europe are turning to established US and European suppliers to meet their industry needs, according to the 2014 edition of the “Fleet Management in Russia/CIS and Eastern Europe” market research report from Research and Markets.
The current size of the installed base of fleet management systems in commercial vehicles is placed at just under 3 million for the fourth quarter of last year, with a third of those having been supplied by the top ten suppliers of fleet management systems. With Russia being the strongest market region and high growth being observed in the country, the market is expected to leap ahead with a CAGR of 15.7% to reach an installed base of nearly 6 million by 2018.
Currently, suppliers into the whole former Soviet space is highly regionalised with the CIS and Eastern European countries being supplied predominantly by Gurtam from Belarus and NIS Group, TechnoKom, Omnicomm and Mobiliz, all strong telematics suppliers each with a local presence of over 100,000 installed units.
However, Russia is seeing a shift away from the main local suppliers with top players M2M Telematics and Russian Navigation Technologies each shrinking in favour of start-ups in the region like SpaceTeam. According to Berg Insight’s Rickard Andersson, so far none of the main international suppliers from outside the region have attained any kind of leadership in Russia and the CIS but it’s expected that they will reach it within the next few years.
Details of the future of Russian and CIS fleet management systems can be found in the report here: “Fleet Management in Russia/CIS and Eastern Europe” which is available from Research and Markets.
Any company wanting to reach markets in Russia and CIS can make use of TrafficSafe’s native language Russian technical authorship or translation services. Contact firstname.lastname@example.org