How IoT Benefits Fleet Solutions

According to a report published by Facts & Factors, the global Internet of Things (IoT) fleet management industry is expected to grow at a compound annual growth rate of 21.6 percent from 2019 to 2026. With the increasing number of fleet vehicles globally, there is an increased responsibility for productivity, driver safety, operations, vehicle maintenance, and performance.

Managing a seamless fleet operation doesn’t have to be difficult. IoT plays a large role in the ever-changing fleet industry to provide smart, safety solutions for both fleet companies and drivers.

How Does IoT Fit In?

IoT is one of the driving powers behind the digitisation of fleet management. There are many systems that assist vehicles in monitoring safety, maintenance, and productivity – advanced driver assistance systems (ADAS) and video telematics being two of them.

ADAS monitor several features of driving and contributes to tracking traffic and road conditions, observing driver intentions, and interfering with algorithms to detect any unsafe or unexpected situations on the road. With the help of IoT, ADAS provide superior data for fleet managers. In fact, ADAS is especially useful when combined with video telematics.

Video telematics is a system that connects and tracks vehicles by using GPS technology. This crucial information is stored, analysed, and then sent to fleet managers. AI technology can track eye movement to ensure unsafe driving behaviours, such as nodding off or getting distracted by surroundings are captured and communicated with both the driver and fleet manager.

Video telematic solutions have been found to lower driver distraction by 80 percent, reduce speeding by 65 percent, and increase seatbelt use by 70 percent; overall, resulting in safer driving conditions for the driver, fleet companies, and others on the road.

Benefits of IoT in Fleet Solutions

IoT technology is crucial in advancing the fleet industry; some of the most important benefits of IoT in fleet solutions are as follows:

1. Location technology – In order to maximise total driving time and mileage, it is important to fully utilise routes. Knowing your driving routes is an important part of ensuring operations are running smoothing. GPS tracking and IoT technology work together to help drivers adjust their routes and monitor their locations.
2. Vehicle Theft Recovery – Stolen Vehicle Recovery (SVR) systems are designed to include a comprehensive set of tracking devices and real-time data to promptly alert law enforcement and fleet managers about stolen fleet vehicles.
3. Vehicle Maintenance – Unexpected maintenance and repairs are tasks that are impossible to plan for. With advanced IoT technologies, fleet managers are able to feel peace of mind knowing that telematics offers scheduled maintenance in advance, to fully maximise business operations. This results in lower costs and increased productivity, so you can focus on your customer satisfaction.

An Expert in IoT Solutions

KORE is an expert in facilitating safety focused solutions for fleet customers. With real-time visibility, KORE is here to assist in increasing productivity and streamlining maintenance. We provide IoT solutions to benefit your fleet team, giving you peace-of-mind for the safety of your drivers and helping you achieve successful daily operations.

To learn more about how IoT can benefit fleet solutions, check out our Location-Based Services datasheet to learn more.