The global connected fleet market is expected to grow from $12.56 billion in 2014 to $35.35 billion in 2019. As more commercial fleets realize the benefits of IoT/M2M fleet telematics, business are seeking more reliable connectivity with flexible rate plans and seamless coverage across geographic areas.
On-board telematics solutions are helping truck fleets overcome a wide range of challenges threatening to inhibit efficient and cost-effective management. New regulations, including tighter carbon emissions rules as well as new rules for driver safety, are putting pressure on managers to comply. Legislation can mandate new fleet standards which can force companies to upgrade fleets or even replace vehicles. Ever rising fuel costs continue to reduce margins.
At the end of 2013, there were approximately 11 million fleet management connected devices worldwide -- by 2023, that number is expected to grow to 60 million. These telematics systems are becoming more complex, expanding from the simple need to manage location, routing, and fuel costs to requirements for mission-critical reliability, connectivity in remote areas or across national borders, and innovative market differentiation.
As you look at fleet telematics solutions and the most appropriate connectivity youll need, here are a few things you should consider
More Miles Driven Needs Better Technology: Making dispatch more efficient can be one of the biggest cost-savers for fleet management systems. Location-based technologies enable dispatchers to select the vehicle closest to freight pick-up and reduce the number of non-billable miles driven. IoT/M2M solutions that incorporate GPS with traffic overlays can calculate accurate travel times, which are different than distance, and automated dispatch can tap into real-time traffic updates to provide the most efficient routes.
More Regulations Need Better Connectivity: IoT/M2M solutions that provide always-on capabilities with persistent IP sessions across geographies and operators can reduces latency and increases consistency in the user experience. This is a crucial part of addressing the multi-country requirements and even intra-country procedures. For example, long-haul drivers in the UK face complicated driver log regulations. So any delays in transmitting driver log information can results in a driver downtime and higher operational costs.
More On-Board Systems Need Better Integration: Fleet management systems can be comprised of route optimization software, tire pressure monitoring systems, in-cab cameras, and other performance monitoring tools, which all need to work together seamlessly. The data these different sensors and applications track has to be collected, processed, and analyzed to make business decisions. Experienced IoT/M2M solutions providers are needed who can integrate all of the pieces together with connectivity management.
Want to better understand the changes the global trucking industry is going through? Download this Future of Fleet whitepaper to find out how IoT/M2M telematic systems are transforming trucks into mobile network operating centers.