Thousands of fleet vehicles—from heavy-duty trucks to vans and commercial vehicles—travel the roads every day, transporting the products that fuel the global economy. Any firm that arranges fleet management using fleet management technology that streamlines the procedure may be able to benefit.
Coordination of hundreds of distinct factors is required for effective fleet management, 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 current with developing fleet management technologies and government regulations.
Top fleet providers have enhanced their customized fleet management systems to meet their organizations' short- and long-term objectives. Technology advancements in fleet management are appreciated by all managers, with options ranging from simple truck rentals to full turnkey solutions that handle 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.
Aside from a 12% growth in fleet management technology adoption between 2019 and 2020, the market for fleet management reached $25.5 billion in 2022 and is expected to reach $52.4 billion by 2027. It continues to expand at a CAGR of 15.5%.
Why Do We Need Fleet Management Technology?
- Fleet management technology advancements make optimizing operations a fluid process that may help firms save time and money.
- Using fleet management systems, fleet managers can better adapt to changing market conditions. Determine the cost of developing a fleet management system.
- Once fleet management technology is integrated into a company's operations, any industry concerns, such as driver retention, fuelling issues, and new compliance regulations, may be handled.
- Furthermore, fleet owners may utilize these technologies from their offices to monitor many elements of their cars, such as fuelling, starting and stopping trips, battery degeneration, engine difficulties, and other concerns.
- For improved functionality, fleet management technology readily interfaces with other external third-party platforms. Future developments such as mobility-as-a-service, 5G networks, telematics, and autonomous cars are poised to revolutionize fleet management.
Here are some examples of how technology has changed fleet management and improved the overall process for managers and drivers.
Applications for Fleet Management Technology for Drivers and Managers
Fleet maintenance technology may be utilized to help the organization tackle a variety of issues.
Check out some of them.
- Distracted Driving
Driving carelessly in company vehicles, especially those with wraps, might harm the firm's brand. Fortunately, new fleet management technology allows fleet managers to monitor drivers for unsafe and distracted driving tendencies.
- Improve Your Understanding
Unlike old approaches, modern fleet management systems have enabled fleet managers to collect a large amount of data about fleet operations. However, the availability of large amounts of data presents a data processing challenge that only big data can solve. With the aid of big data, fleet management companies may conduct financial analyses and collect data on the operation of their equipment and vehicles. They may also infer trends about their fleet, suppliers, manufacturers, and staff, which can help them make business choices.
- Driver Alert
Fleet managers may utilize GPS tracking to estimate their cars' precise position, speed, staff hours, distance, and stops, which can assist them in keeping drivers safe. A GPS monitoring device, for example, can alert vehicles when someone is approaching a corrective bend.
Additionally, Geofencing allows vehicles to be restricted to a specific delivery region. Managers will receive immediate information to assist them in identifying drivers who deviate from their routes and adopt shorter routes to limit the number of kilometres traveled and the quantity of petrol consumed.
- Estimate Maintenance Needs
Monitoring vehicle performance allows fleet managers to anticipate vehicle performance and condition. With the capacity to arrange vehicle maintenance and service in advance, companies can eliminate the possibility of future repair expenditures interfering with fleet operations.
- Routes should be planned
Routes should be planned by fleet management. Automatic route planning not only reduces fuel consumption by determining the quickest route, but it also assists fleet owners in avoiding impediments that might cause delays. It is possible to do this by utilizing clever navigation systems.
7 Advanced Fleet Management Technologies for Business
Recent fleet management technology developments have proved that its use in an organization may be incredibly advantageous and has demonstrated a favorable influence in those organizations that have previously implemented it. For example, according to a Verizon survey, investment in fleet management systems reduced fuel expenses and the frequency of accidents for 52% and 43% of organizations, respectively.
The following sophisticated technologies are widely utilized to improve fleet management systems.
Examine it out.
- Internet of Things
IoT has brought sensors that notify managers and owners of possible shipment damage. Nothing escapes the sensors' detection, not even fast shocks, changes in humidity and temperature, or even the light around the package. With the use of IoT, businesses can identify and reduce the causes of damaged objects. Using this information, damaged items may also be proactively fixed or removed before being shipped to customers.
This Internet of Things (IoT) technology in fleet management goes far beyond the realm of cars. It employs both ground staff at fleet hubs and sensors in automobiles. Notepads have been surpassed by tablets and portable devices. The maintenance staff may now scan any automobile component in real time and update the diagnostic report on the central hub.
- Augmented Reality (AR)
Augmented reality (AR) is another developing technology that is having a huge influence on fleet management. AR is used in almost every aspect of fleet management, from loading the vehicle to safely driving it on the road.
Using AR, technicians may quickly pinpoint an issue in a specific part. Wearable AR glasses assist in identifying the problem just by glancing at the vehicle part. By periodically inspecting the car, one may keep it in good condition and contribute to total cost savings.
Another advantage of AR is that it provides the driver with a full picture of what is happening on the road, improving the overall safety and efficacy of the operation.
- Machine learning and AI Cams
AI/ML is always trying to deliver efficient solutions to typical supply chain fleet management difficulties. To protect drivers and cut expenses, your fleet must have AI dash cameras with real-time issue detection and proactive in-cab training. Tracking your drivers helps you to rapidly discover any poor behaviour that might cause accidents, in addition to providing the opportunity to conduct instruction through actual circumstances.
During training, it may be beneficial to highlight instances of both excellent and bad practices. In the event of an accident, you will have documentation, avoiding costly legal proceedings.
AI and machine learning in fleet management enables you to handle the mountains of paperwork that come with working with suppliers, OEMs, customers, insurance providers, and a variety of other parties. ML and AI may also handle the processing of sensitive legal documents and screening for terms and phrases that may be considered harmful to the organization.
Telematics is the study of the driver's behaviours and the assets of the vehicle via the use of various technologies and equipment such as GPS, Dash Cams, sensors, and so on. Fleets may be handled considerably more securely and effectively with the use of modern analytics and telematics. Fleet managers can efficiently monitor their systems, resulting in a safer fleet, real-time updates, lower insurance rates, easy and timely maintenance, and total cost savings. Having current and real-time updates on the state of the vehicle assists in improved operations management. Providing precise delivery status based on weather prediction and real-time updates contributes to increased and better customer service.
Obtaining accurate fuel consumption records aids in improved maintenance and cost savings by ensuring that the vehicle is operating at peak performance at all times. When renewing car insurance, better-maintained automobiles have greater insurance premium benefits.
- Autonomous Vehicles
Autonomous cars excite both ordinary people and fleet management. The benefits of computerized driving are obvious, especially for commercial fleets. Self-driving vehicles take fewer breaks, are safer on the road, and help to save costs. These vehicles can also help schedules operate more smoothly because they do not require breaks and are not permitted to traverse unauthorized routes.
Blockchain is a record-keeping mechanism in which all participants can view a record of transactions, making tampering nearly impossible. Blockchain technology may be used to create automated, transparent payment systems. It simplifies the transactional element of the business. Because fleet management often involves many forms of record keeping, blockchain may be integrated in a variety of ways.
Blockchain can enable smart contracts that automatically begin transactions when a delivery is completed. Everything is managed via blockchain in the most safe, complete, and transparent manner possible. Whether it's keeping track of vehicle maintenance and upkeep, obtaining delivery route information, maintaining a record of all goods carried by your fleet, or even monitoring the whole supply chain blockchain will do everything.
- Fuel Management Techniques
Any logistics company has several challenges, including fuel waste, so having effective methods for dealing with it is critical. Fuel management systems are one of the most effective ways to reduce your running costs. You may use software to track your fleet's fuel use and how your drivers operate their cars. If they are using inefficient routes, you can take prompt action.
Lilac Infotech can help you develop a Fleet Management System. Looking back over our history, you'll see that we've been able to give some exceptional digital solutions to several major and well-known businesses. No matter how difficult the topic, our technique is simple and easy to grasp.
After completely comprehending the issue at hand, we strive to comprehend the market context in which your software operates. Based on those findings, we conceptualize, plan, construct, and implement a solution tailored to your company's needs, and we stick with you until you see favorable results.
1. What do you mean by integrated fleet management solutions?
Integrated solutions frequently comprise hardware, software, telematics, and telematics for fleet management that are linked to fuel, asset utilization, maintenance, driver performance, work orders, and other monitoring systems. Some of these also track employee attendance and working hours.
Fleet management software allows you to optimize your procedures and make better use of your resources, lowering your costs. Data gathering, monitoring, and reporting capabilities are also included in fleet management solutions. These solutions result in providing great, valuable services to your clients while minimizing dangers and bad outcomes.
2. How do I pick between a desktop and a web-based fleet management application?
The desktop application is already installed on your PC. You have complete control over network settings, data file storage, and data backup. To utilize the program, a one-time fee is necessary, and technical support packages are optional. Because user licensing is per concurrent user, you can install the client program on as many workstations as you like.
The web-based application, on the other hand, offers maximum flexibility because it can be accessed via a web browser on any Internet-connected device, whether it is a PC, tablet, or smartphone. This guarantees safe and secure cloud-based data storage with no setup or upfront payments. Because of this, there is a monthly cost per user.
3. How Does IoT Help Fleet Management Systems?
Fleet management technology is giving fleet managers a significant advantage. Sensors enabled by IoT in fleet management, for example, inform fleet managers and owners of any potential package damage scenarios. It has also created a variety of tools to assist managers to manage their fleets more efficiently.
Owners may be proactive in moving information from the driver's dashboard to the manager's screen thanks to IoT's internet connectivity. It also enables fleets to include linked mobility, which improves transportation efficiency and security