Fleetmatics Named Fleet Tech Leader By Research Firm
ABI Research has named Fleetmatics Group as the fleet management technology market leader in terms of vehicle market share, according to the company.
"The stellar growth of Fleetmatics is quite unique in a commercial telematics market that has been characterized by an overall healthy and stable but unspectacular enterprise-type market development," said Dominque Bonte, vice president and practice director with ABI Research. "The commercial telematics market, and Fleetmatics in particular, is delivering on its potential for those companies brave enough to take up the challenge of being customer and service minded, adopting next-generation technologies, and looking beyond their own borders."
Fleetmatics continued its strong growth in the first quarter of 2014, bolstering its market leadership position. With approximately 23,000 customers, Fleetmatics posted quarterly revenues of $51.9 million, a 35 percent year-over-year increase, along with healthy profitability. The company grew the number of active vehicles under subscription to 472,000, a 33 percent year-over-year increase from 356,000 at the end of the first quarter of 2013.
"It's gratifying to be recognized by ABI Research for leadership in our market, which is due to the hard work of our team across the board – from the advanced and unique product innovation from our development team to our award-winning customer service organization to strong sales and marketing," said Jim Travers, Fleetmatics chairman and CEO. "We are well-positioned to continue our strong growth and market leadership having recently announced entrance into Australia, The Netherlands, Mexico and mainland Europe and by continuing to provide the most advanced product available through our recent launch of a new technology platform and increasingly feature-rich products."