It comes as no surprise that fleet telematics is not only gaining popularity, but also becoming the standard for improving supply chain efficiency while ensuring fleet operator safety. The global fleet telematics market is expected to grow to $75 billion by 2025, according to McKinsey. Additionally, at least 15% of fleet vehicles now come with telematics installed as
standard.
However, while there’s no questioning the growth of fleet telematics or its benefits for companies, current fleet management technologies don’t effectively track ancillary assets in relation to service vehicles and their drivers. As it stands, most fleet managers face the challenge of piecing together costly standalone solutions that don’t tie into their main service tracking applications. Consequently, organizations have all the tracking data available at their fingertips but lack the unified insights they actually need to determine whether a driver is exhibiting risky behavior, if an asset is delivered on time or if an asset is missing.
Fortunately, fleet tech is getting smarter, allowing fleets of all types to track a wide range of assets with full visibility, edge intelligence, and custom solutions that are more integrated and at a lower cost than traditional cellular-based solutions. In addition, these new IoT technologies not only give drivers more visibility across their inventories, but they also help organizations track fleet operators to mitigate liabilities and improve overall driver safety. In short, the smarter fleet management tech becomes, the higher the efficiencies your company can yield including saved time, labor and costs.
Here are two ways that fleet tech is getting smarter, resulting in more efficiencies for organizations than ever before.