The fleet industry is constantly evolving and can make the management of a fleet challenging and time consuming, especially for smaller organisations without dedicated fleet staff. According to Allied Market Research, the global fleet management market was valued at $19.47 billion in 2020, and is estimated to reach $52.50 billion by 2030.
Some barriers may be related to technology (e.g., mobile apps), driver training, maintenance issues, and more, while other barriers include, keeping up with evolving technology, managing driver safety, vehicle maintenance, compliance and regulatory requirements.
One of the biggest challenges in the fleet industry today is making sure that the devices installed in vehicles will work reliably and efficiently for at least the life of the vehicle. That means keeping up with new devices, new networks – and new applications.
By keeping up with the ever-changing technology landscape, fleet managers can take advantage of innovative advances in edge computing, AI for both devices and software, and sensors that can monitor virtually anything of importance on, or in a vehicle – from cargo to tools.
With so many fleet vehicles traveling on routes, it can be difficult for both small and large businesses to keep track of the safety of their drivers. One of the biggest challenges they face is knowing when drivers are too tired to be on the road, and a good way to solve that problem is through technology.
A Global Positioning System (GPS) tracking device can monitor how much time drivers spend behind the wheel as well as when they're not driving, allowing employers to make sure drivers aren't overworked and fatigued (whilst keeping compliant to laws on daily driving time). The device can also collect data like whether a driver has been speeding or following other unsafe driving practices, so that managers can keep track of how their employees are performing on the road. And video telematics can do all of that and more.
Maintaining a company's fleet performance is essential for reducing costs and maximising profits. The high price of fuel, coupled with the increased demand for fuel-efficient vehicles has made it more difficult for businesses to meet their goals of reducing emissions and saving money. Monitoring vehicle maintenance ensures that vehicles are not only running smoothly, but also that they are always operating in top condition.
This can be achieved through tracking vehicle maintenance through performance-based data collection. Unplanned downtime can be costly, so with preventative maintenance, fleet managers can schedule and re-route trucks as needed to avoid costly interruptions to operations.
Compliance with all applicable laws and regulations can be a challenge for any company in any field. However, when it comes to compliance within the fleet industry, there are several factors that can make it especially difficult. For example, there are numerous state laws that cover everything from driver licensing requirements to vehicle inspections; as well as federal laws such as those governing hours of service for drivers or fuel efficiency standards for cars used for company purposes.
KORE understands the barriers that come with managing a fleet team. Our solutions help manage and facilitate safety focused solutions for fleet customers. KORE’s Location Based-Services (LBS) fleet solutions are just one example. Unlock key resources needed to achieve successful daily operations. Want to know if you’re ready to deploy? Get in touch with a KORE expert here.
And to learn more about our fleet solutions, download our whitepaper, “The Fleet Manager's Guide to the Internet of Things” here.
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