Market Share of Europe Telematics Industry
The intensity of competitive rivalry in the European telematics market is high, with the presence of multiple players vying for market share in a fairly contested space. Mergers and acquisitions can be identified as a key strategy followed by market incumbents to strengthen market dominance. Furthermore, the competition is expected to increase further, with newer players looking to offer specialized offerings and innovative business models. Key Vendors include Verizon Communications Inc., Webfleet Solutions BV, ABAX UK Ltd, Masternaut Limited, and Targa Telematics SpA, among others.
In May 2023, Targa Telematics announced the acquisition of Viasat Group Spa to strengthen its leadership in the Italian market and accelerates its expansion in Europe. Through this acquisition, the company aims to mark the creation in the field of IoT and the development of solutions and digital services for connected mobility.
Similarly, in March 2023, Targa Telematics announced a strategic partnership with Ford to expand its range of connected car solutions and the integration of data from the car manufacturer's vehicles.
In October 2022, Webfleet announced a strategic partnership with Muses, a new eOEM based near Paris, to offer integrated telematics solutions. The company's telematics solution enables Muses to monitor fleet health and predictive schedule maintenance. It provides Muses' customers' access to the full Webfleet suite to optimize fleet efficiency and reduce cost.
Europe Telematics Market Leaders
Webfleet Solutions BV
Verizon Communications Inc.
ABAX UK Ltd
Masternaut Limited
Targa Telematics SpA
*Disclaimer: Major Players sorted in no particular order
