Fleet management applies mainly to leased and owned fleets, and service portfolios can include maintenance, repairs, fuel cards, and insurance. By centralizing all processes and transactions tied to corporate fleets, fleet management companies allow their clients to be more productive and plan for growth based on hard data and actionable insights on the performance of their vehicles and their drivers.
Although 2020 was a tough year in Latin America because of the COVID-19 pandemic, higher vaccination rates have stimulated the return to the face-to-face work and social activities. As national economies regained their footing, the fleet management industry got back on track. Corporates with owned fleets (a common feature of the region) and third-party fleets (with leasing or rental contracts) have been more interested in acquiring fleet management services so they can concentrate on their core business. To keep existing customers and attract new ones, mobility companies that offer fleet management have been investing in innovative solutions and working on the expansion of their service catalogs. As a result, partnerships have begun to arise in recent years.
Considered in the growth stage, the fleet management market in the region is experiencing more competition. It has exciting potential for evolution and the development of more customer-oriented services as leasing, digital platforms and sustainability become key elements for all competitors.
In a field of more than 20 regional industry participants, Frost & Sullivan independently plotted the top 10 companies in this Frost Radar™ analysis.
The Frost Radar™ reveals the market positioning of each company using its Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and market positioning. It discusses strategic market imperatives and the competitive environment that vendors operate in and makes recommendations for each provider to spur growth.
Strategic Imperative
Growth Environment
Growth Environment (continued)
Frost Radar™: Fleet Management in Latin America
Frost Radar™: Competitive Environment
Frost Radar™: Competitive Environment (continued)
Ariza de México
Arval
AutoCorp
Edenred
Element Fleet Management
Localiza&Co
Movida
NewALD
RDA Mobility
Traxall
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Significance of Being on the Frost Radar™
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Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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| Deliverable Type | Frost Radar |
|---|---|
| Author | Victoria Rinaldi |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Fleet Management in LATAM |
| Keyword 2 | Fleet Management Services |
| Keyword 3 | fleet management service providers |
| Podcast | No |
| WIP Number | K899-01-00-00-00 |
Frost Radar™: Fleet Management in Latin America, 2023
A Benchmarking System to Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines
18-Jan-2023
North America
Frost Radar
