The Internet of Things is transforming business operations across a variety of industries, and fleet management is no exception. With IoT-enabled fleet tracking systems, fleet managers have been able to increase operational efficiency and reduce expenses. So it should come as no surprise that Grand View Research estimates the global IoT fleet management market to grow at a compound annual growth rate (CAGR) of 20.8% through 2025.
Reducing corporate risk exposure while keeping costs low is a primary goal of fleet managers, and IoT-enabled fleet tracking systems help them achieve that by centralising vehicle data. Centralising vehicle data, typically with a single location-based services (LBS) platform, helps streamline fleet operations while providing quick access to real-time intelligence and location data on all vehicles.
With centralised vehicle data thanks to IoT-enabled fleet tracking systems, fleet operators are able to gain actionable intelligence on vehicles, assets, and drivers. This advanced data collection and analytics, along with geofencing and real-time alerts, enables businesses to monitor driver behaviour, optimise trip routes, and track vehicles and cargo seamlessly.
Reducing corporate risk exposure means ensuring driver safety, vehicle security and maintenance, regulatory compliance, and operational efficiency. Location-based services and fleet tracking systems leverage the power of the IoT to monitor activities and routes in real-time, which helps mitigate risks and ensures efficient resource management.
In business, time is money. When fleet operators and managers are expected to manually evaluate fuel usage, service hours, maintenance workflows, and schedules, the costs become exorbitant. Streamlining these processes with centralised vehicle data in a single platform helps increase productivity and profitability by automating the analysis of resource activities.
KORE offers a comprehensive solution that reduces the complexities of remote tracking, monitoring, and management of vehicles and drivers by eliminating costly integrations and configurations needed to centralise vehicle data. The KORE solution includes a robust fleet management application, managed network connectivity from top cellular operators, and support for advanced vehicle tracking devices.
To learn more about how the IoT is transforming the fleet management industry, download our free eBook “The Fleet Manager's Guide to the Internet of Things.”
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