EROAD has reported 5.5% growth in the second quarter with 4468 contracted units added.
The transport technology services company has a total of 86,240 contracted units for the period and annualised growth of 21.9%
It saw 4.6% growth in the Australian and New Zealand market between June and September with 2851 units added for a total of 65,285 units and 18.3% annualised growth in the region.
In North America, the company saw 8.4% growth for the quarter with 1617 units added for a total of 20,995 units and 33.4% annualised growth.
The company says demand in the Australian and New Zealand markets “remains solid” with a “healthy pipeline” ahead with a number of contracts and customers signed for delivery of over 1500 units for the remainder of FY19.
“In North America, growth moderated from last year’s levels, but remains steady. The ELD (electronic logging device) market is transitioning from its pre-mandate deadline phase to a longer-term, continuous sales cycle,” the company says.
The North American market is also promising given fleets with out-of-date onboard recording devices must have them replaced with ELDs by December 2019.
“There are also fleets which rushed to install ELD units to meet the December 2017 deadline which are experiencing ‘buyer’s remorse’ from the acquisition of ELD solutions that are not meeting their needs.
“Both dimensions offer opportunity for EROAD, alongside intrastate fleets that are required to adopt ELD solutions to meet State regulatory requirements,” the company says.
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