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Every day, thousands of fleet vehicles—from heavy-duty trucks to vans and commercial vehicles—travel the roadways, moving the goods that power the world economy. Any business may be able to gain profits if they arrange for fleet management with fleet management technology streamlining the process.
Effective fleet management calls for the coordination of hundreds of distinct factors, including vehicle specification, acquisition, and maintenance; hiring qualified drivers and technicians; planning effective delivery routes and schedules; coping with erratic economic conditions and rising fuel prices; and working with a finite amount of capital—all while remaining updated with the developing fleet management technologies and government regulations.
Today’s top fleet suppliers have refined their customized fleet management solutions to match their organization’s short- and long-term goals. With the variety ranging from straightforward truck rentals to full turnkey solutions that do everything from contracting a third party to handle the technical details, financing and purchasing the vehicle, ongoing maintenance, and even hiring, supervising, and training professional drivers, technology developments in fleet management are being appreciated by all managers.
Apart from a 12% increase in the adoption rate of fleet management technologies between 2019 and 2020, the market for fleet management reached $25.5 billion in 2022 and is projected to grow up to $52.4 billion by 2027. It keeps growing at a CAGR of 15.5%.
In this article, we will talk about six technologies that are changing the face of fleet management and some trends in the industry. But before that, let us quickly look into why at all we need technology for fleet management.
Technology developments in fleet management make optimizing operations a fluid process that can help businesses save time and money.
Fleet managers can better respond to the market’s shifting conditions by utilizing fleet management systems. Know how much it costs to develop a fleet management system.
Once fleet management technology is incorporated into a company’s operations, any industry challenges can be overcome, including driver retention, fuelling problems, and new compliance standards.
Additionally, fleet owners may use these technologies from their offices to monitor various aspects of their vehicles, such as fueling, the beginning and end of trips, battery deterioration, engine problems, and other issues.
Fleet management technology easily integrates with other external third-party systems for better functionality. Future innovations like mobility-as-a-service, 5G networks, telematics, and autonomous vehicles are ready to elevate fleet management to a whole new level.
Here are some ways technology has altered fleet management and optimized the entire process for managers and drivers.
Fleet maintenance technology can be used in a number of applications to benefit the organization and overcome multiple challenges. Have a look at some of these.
Driving recklessly in company vehicles, especially ones with wraps, can negatively impact the business’s reputation. Fortunately, modern fleet management technologies enable fleet managers to keep an eye out for risky and distracted driving patterns among drivers.
Unlike traditional methods, new fleet management systems have made it feasible for fleet managers to gather a lot of data regarding fleet operations. Large data availability, however, creates a data processing problem that only big data can address.
Fleet management firms can conduct financial studies and acquire data on the functioning of their equipment and vehicles with the help of big data. Additionally, they can infer patterns regarding their fleet, suppliers, producers, and employees that can direct business decisions.
Fleet managers can use GPS tracking to estimate the precise location, speed, employee hours, mileage, and stops of their vehicles, which can help them to keep drivers safe. For instance, a GPS tracking system can inform drivers about who is approaching a corrective curve.
Along with that, geofencing allows for limiting the movement of trucks to a predetermined delivery area. Managers will receive prompt notifications to help quickly spot drivers who stray from their routes and choose the shorter routes to reduce the number of miles driven and the amount of gasoline consumed.
Fleet managers can forecast vehicle performance and condition by monitoring vehicle performance. With the ability to schedule vehicle maintenance and servicing in advance, they can completely rule out the chance of future costs of repairs that might interfere with fleet operations.
Fleet managers should have a plan for their routes. Automatic route planning not only aids in lowering fuel usage by figuring out the shortest route but also helps fleet owners avoid obstacles that could cause delays. It can be achieved by utilizing intelligent navigation systems.
The recent fleet management technology trends have confirmed that their introduction in an organization can be extremely beneficial and have shown a positive impact in those organizations that have already been using it. For instance, as per a survey conducted by Verizon, investment in fleet management technology led to reduction in fuel costs and number of accidents for 52% and 43% organizations, respectively.
The following advanced technologies are being used commonly to enhance fleet management systems. Have a look.
AI/ML are always working to provide effective solutions to common problems in supply chain fleet management. Your fleet must have AI dash cams with real-time incident detection and proactive in-cab teaching to safeguard drivers and reduce costs. In addition to offering the means to deliver training through actual situations, tracking your drivers allows you to immediately identify any bad habits that could cause accidents.
Highlighting examples of both good and harmful practices during training might be a good idea. In the event of any accidents, you will also have proof, avoiding any expensive legal procedures.
AI and machine learning in fleet management allows you to deal with the tons of paperwork involved in dealing with suppliers, OEMs, customers, insurance providers, and many other parties. The processing of delicate legal papers and screening for terms and phrases that can be deemed damaging to the company can also be dealt with by ML and AI.
Understanding the driver’s habits and the vehicle’s assets by tracking through different technologies and tools like GPS, Dash Cams, sensors, etc., is telematics. With the help of advanced analytics and telematics, the fleets can be managed much more safely and efficiently at the same time.
The fleet managers can effectively monitor their systems which will help in enhancing a safer fleet, monitoring real-time updates, better insurance premiums, easy and timely maintenance, and saving overall costs.
Getting current and real-time updates on the vehicle status aids in better operations management. Providing exact delivery status based on the weather forecast and real updates helps in providing enhanced and better customer service.
Getting detailed fuel consumption reports helps in better maintenance, and cost reduction by ensuring that the vehicle is performing optimally all the time. Better maintained vehicles get better insurance premium benefits while renewing the vehicle insurance.
IoT has introduced sensors that alert managers and owners of any potential instances of package damage. Nothing eludes the sensors, not even rapid shocks, changes in humidity and temperature, or even the light around the package. Businesses can discover and minimize the causes of harming items with the help of IoT. Damaged goods can also be proactively repaired or withdrawn using this information before being delivered to customers.
This IoT technology in fleet management extends much beyond the world of vehicles. It involves ground employees in fleet hubs as well as the sensors used in the cars. Tablets and portable electronics have superseded notepads. The maintenance team may now instantly scan any automotive component and quickly update the diagnostic report on the central hub. Your fleet managers can simply dispatch cars and meet rising demand without sacrificing the advantage on the quality front with quick ground operations.
Another emerging technology that has a significant impact on fleet management is augmented reality (AR). Almost every part of fleet management uses AR, from the time of loading the vehicle to securely operating it on the road.
With AR, the technicians can easily identify the problem in a specific part. The wearable AR glasses help identify the issue just by looking at the vehicle part. By routinely checking the vehicle, one can keep the vehicle well maintained, contributing to overall cost saving.
Another benefit of AR is that it gives the driver a more thorough understanding of what is going on the road, enhancing the operation’s overall safety and effectiveness.
Blockchain is a method of preserving records in which all parties can see a record of transactions, making tampering almost impossible.
Blockchain can be put to use to develop automated, transparent payment systems. It makes the transactional aspect of the business quite simple. As fleet management typically uses many types of record keeping, you can integrate blockchain in a number of different ways.
Smart contracts that automatically start transactions after a delivery is complete can be made possible through blockchain. Blockchain manages everything in the most secure, thorough, and transparent way possible. Whether it’s keeping track of vehicle maintenance and service, getting information on delivery routes, keeping a record of all the cargo that your fleet has delivered, or even managing the whole supply chain, blockchain does it all.
Regular people and fleet managers alike are fascinated by autonomous vehicles. The advantages of computerized driving are clear, particularly for fleets used by businesses. Self-driving cars require fewer breaks, are safer on the road, and contribute to cost savings. Because these cars don’t require breaks and aren’t allowed to travel unapproved routes, they can also help schedules run more smoothly.
Any logistics business has numerous issues, including fuel waste, so having efficient ways to deal with it is crucial. One of the best methods to lower your operating costs is fuel management systems. You can use software to monitor the fuel used by your fleet and how your drivers are operating their vehicles. You can take immediate action if they are traveling inefficient routes.
Know how much it costs to develop an on-demand fuel delivery app like EzFill and CAFU.
If you look back on Appinventiv’s history, you’ll see that we’ve been able to provide some outstanding digital solutions to multiple global and well-reputed brands. Appinventiv’s method is straightforward and understandable no matter how complex the issue is.
We attempt to comprehend the market environment in which your app is operating after fully understanding the issue at hand. We conceptualize, design, create, and implement a solution specifically for your business based on those findings and stand with you till you see positive outcomes.
In one of the cases, Appinventiv worked with a US-based manufacturer with a heavy supply chain and logistical need. We gave their existing software a makeover to tackle its challenges. The outdated software was causing delays in the execution of crucial business processes and increasing transportation costs because of the low visibility in the supply chain. It needed something to improve the company’s operational efficiency.
Appinventiv came up with an approved solution of data analytics and AI-powered robotic process automation (RPA) to automate the company’s processes, reduce costs, and scale up operations. The solution brought about 60% more visibility in the supply chain, reduced transportation costs by 40%, and increased operational efficiency by 30%.
Appinventiv is your perfect bet for a logistics software development company for developing custom fleet management software that tackles all your challenges and meets your organizational goals. Get in touch with our experts now.
Q. What are integrated fleet management solutions?
A. Integrated solutions often include hardware, software, telematics, and telematics for fleet management that are connected to monitor systems for fuel, asset utilization, maintenance, driver performance, work orders, etc. Some of these also track staff attendance and time spent working.
Fleet management software enables you to improve your processes and use your resources more efficiently, reducing expenses. Fleet management technologies also combine data collection, monitoring, and reporting capabilities. Delivering exceptional, priceless services to your clients while avoiding risks and unfortunate events is the outcome of these solutions.
Q. How to choose between a desktop and a web-based application for fleet management?
A. The desktop program is installed on your computer. Network configuration, data file storage, and data backup are all under your control. A one-time price is required to use the program, and technical support packages are optional. You can install the client program on as many workstations as you choose because user licensing is per concurrent user.
On the other hand, maximum flexibility is provided by the web-based application, which can be accessed using the web browser on any Internet-connected device, be it a PC, tablet, or smartphone. This assures cloud-based data storage, which is safe and secure and doesn’t require setup or upfront fees. There is a per-user, per-month fee because it is a subscription-based service.
Q. How IoT Improves Fleet Management Systems?
A. Fleet management technologies are adding a great advantage to managers in fleets. For example, sensors made possible by IoT in fleet management alert fleet managers and owners of any potential package damage situations. Additionally, it has introduced a number of tools that help managers efficiently manage their fleets.
IoT’s online connectivity enables owners to be proactive in transferring information from the driver’s dashboard to the manager’s screen. It also allows fleets to include connected mobility, improving transportation efficiency and security.
[Also Read: IoT in Manufacturing: Applications and Benefits]