For companies managing entire fleets of vehicles, monitoring the vehicles, while trying to reduce operation costs and focus on fleet efficiency can be difficult. IoT vehicle telematics can help. Incorporating vehicle telematics provides a range of benefits for fleet management companies. Benefits include reduction in labor costs, increased productivity, control of fuel costs, improved customer service, increased fleet safety and security, reduction in operating expenses, and reduction of unauthorized vehicle use.
Steering Vehicle Fleets to Success with Telematics
With IoT vehicle telematics, fleet operators can analyze even the most basic of details, such as route lengths and duration, and it can help them to understand how to modify a journey to save money. Vehicles generate data around breakdowns, component failure rates and driving habits. When operators monitor vehicle data, they can track GPS location, driver speed and seat belt safety. Fleet managers can identify vehicle issues and driving patterns before they become a costly crisis.
According to a report from Transparency Market Research (TMR), the number of companies incorporating IoT with fleet management is growing. With AT&T, Cisco, IBM, Intel, Omnitracs, Oracle, Sierra Wireless, TomTom International BV, Trimble and Verizon Communications being the current leading players.
TMR also notes that the demand in the global market for IoT fleet management will escalate at a CAGR of 20 percent during the forecast period of 2017 to 2025. The report evaluates that the IoT fleet management market, across the globe, was worth US$3,340 million in 2016, and estimates it to reach a valuation of US$15,870 million by the end of the forecast period.
Fleet Complete, one of the fastest-growing providers of industry-leading GPS fleet and asset tracking technology and cloud-based mobile workforce solutions, provides companies across the globe with a comprehensive telematics platform. Day & Ross Dedicated Logistics, a Canadian automotive private fleet carrier, relies on the Day & Ross platform to optimize its operations and move ahead of the competition.
Diagnostics and Real-time Coaching for Drivers
In this video, Intel Lead Solution Architect George Moakley explains the efficiencies derived from local analytics gathered by the Intel gateway computing platform operating system. He notes two major concerns in running a fleet of trucks: fuel efficiency and keeping the vehicles in service while generating revenue for the company. When each vehicle has a gateway computing device, fleet management companies can monitor the state of tires, obtain detailed diagnostics and use information to coach the drivers on their driving behavior, such as shifting, breaking and accelerating, which can improve fuel usage.
For rental car companies, vehicle telematics are enabling faster emergency response and improved customer service. Car manufacturers are offering remote diagnostic and safety services that encourage brand loyalty. Fleet managers are able to seamlessly monitor productivity and track vehicle efficiency, usage and functionality.
Rev Up Your Knowledge of Fleet Management Telematics:
- Learn more about Intel’s on-board diagnostics-II (OBD-II) dongle and how it turns virtually any vehicle into a connected device capable of real-time data analysis and feedback.
- Watch this video to see how Transcode addresses operational problems using IoT technology to link real-time vehicle data and drivers to the office with in-vehicle computer systems.