Only 20 percent of the North American fleet market has adopted telematics technology, according to a new research report from a London firm.

The telematics market for fleet vehicles is "mature in terms of years but not penetration," according to Telematics Update's Connected Fleet Report 2014.

The telematics market must reach 40 percent before it can achieve critical mass even though telematics products have helped fleets gain greater knowledge about return on investment, cost analysis, and increased productivity.

The fleet telematics industry is undergoing "significant consolidation," including Trimble acquiring niche providers, wireless carriers getting into the market, and larger fleet owners introducing their own products, according to the report.

To get a copy of the report, click here.