According to a market research report, currently around eight million GPS/wireless devices are used to manage fleet vehicles, trailers, construction equipment and mobile workers across US. According to the “2016-17 U.S. Mobile Resource Management Systems Market Study”, by 2019, this market will expand to more than 14 million units. The annual hardware and service revenues will grow to nearly $4.7 billion! The use of commercial telematics solutions is expanding at a rate of 15-20 percent per year. However, the trucking sector’s rate of growth is projected to exceed the local fleet market because of the recently issued regulations requiring the use of Electronic Logging Devices (ELDs) by interstate trucking fleets for monitoring driver hours of service.
How do these figures impact vehicle & fleet management?
Well, if you want your business to be among those with a competitive edge and be part of the ever growing market and increase profitability, optimizing your financial and administrative operations is essential, and now is the time. The complexity that develops in the logistic operations of fleets management can be tremendous in today’s world of technology.
The power to aggregate, analyze, and take action on data collected from a wide variety of vehicles and assets in one integrated application is of great importance to the fleet manager. To have a finger on the pulse of the tracking system can bring in several benefits and thus help minimize risks – which come via reckless drivers, idling drivers, speed violation, fuel wastage, long hours of driving etc.
We wrote in our previous blogs about the kinds of technology that are used by the vehicle and fleet tracking organizations. The newest entrant is the use of how mobile and cellular networks can help manage vehicle & fleet management and even help in tracking ambulance services, an essential component within the healthcare industry.
Optimizing Fleet Management operations
Emerging technologies in social telematics now provide end-to-end fleet management technology which includes solutions like real-time engine reading, mobile integration, cloud computing . This combination leads to increased efficiency, improved driver safety and enhanced ROIs. According to a study, vehicle maintenance costs companies between $1,000 and $3,000 per year for medium-duty trucks, and nearly double for heavy-duty trucks!
Crucial information such as in-depth engine diagnostics capabilities, real-time snapshot of every vehicle on the road, can now be delivered directly to mobile devices anytime, anywhere. This empowers better and enhanced decision making and the need to design effective strategies.
Smartphone or tablets with efficient and effective apps, helps fleet managers easily run teams as efficiently as from the desktop and/or even better.
Further, did you know that according to a recent study, fleet vehicle tracking can also help you reduce your labor costs significantly – save an average of $5,484 per employee per year by utilizing GPS technology!
Moreover, alerts on the mobile can help fleet managers get better insight and run the service smarter more efficiently.
- Important events are instantly updated as part of alerts
- Idling, speed violations help you monitor and act fast
- Reduce hardware & operational costs
- Reduces administrative costs- paperless logs can be easily maintained on phone using an app stored on cloud
Efficiency and speed are of paramount importance in fleet management and mobile devices can be effectively employed to get that competitive edge and reduce costs too. Mobile devicess also help simplify the lines of communication, and their decreasing costs on one hand and increasing computing power make it ideal for business owners to leverage their power and keep on top of the business activities at all times.