The next trend in fleet IoT is happening quickly.

 

• The fleet industry is facing a challenge

Fleet management system is used for monitoring different kinds of vehicles such as cars, vans, trucks, aircraft, ships as well as rail cars. Nowadays, IoT technology can help solve the pain points in the fleet industry, such as rising costs, driver safety, asset management, and support operations.

” The supply chain of vehicle materials has affected daily manataince and repair in the past three years. According to Global Fleet Management, the cost of labor and parts has risen between 4% and 8% in 2021.”

Collecting data by telematics solutions to get information, such as fuel, position, speed, tire pressure, mileage, and driver behavior will help the fleet industry more advanced.

 

• Dangerous driving behavior has been an active topic in the fleet industry

Dangerous driving behavior is the leading factor of road traffic accidents; therefore, how to predict dangerous driving behavior quickly and accurately has been a topic of the fleet industry in the past decades.

” According to Automotive Fleet, “20% of a fleet’s vehicles annually incur downtime due to accidents.” And the Federal Motor Carrier Safety Administration reports that an average accident costs $91,000, rising to $200,000 if there is an injury—not to mention the costs further down the line in an accident when insurance rates rise.”

Avoiding accidents or collisions has become very important. For this purpose, automotive manufacturers install advanced driver assistance system, the systems include driver monitoring system, forward-collision warning system, lane departure warning system, and blind spot detection system in vehicles, enhancing vehicle systems for safety and better driving.

These ADAS solutions can alert drivers, transmit packets of data to the database, and then analyze driver behavior to avoid accidents or collisions. Also, the fleet management tool can provide various event signal outputs for system integration.

 

• Electric vehicles hold great potential for many fleets

Electric vehicle market is developing so quickly over the last number of years. Electric vehicle technology has evolved. Driving ranges have improved, there is a growing network of charging infrastructure, and the costs of vehicles are falling.

” According Facts and Factors, the demand of Global Electric Vehicle (EV) Market size is estimated to cross USD 980 billion by 2028, at a CAGR of 24.5% between 2022 and 2028.”

Electric vehicles can be an excellent decision for the fleet industry because they have lower running costs and zero tailpipe emissions when being driven on electricity. In addition, Reduced motoring and fleet costs, switching to electric vehicles can be economically advantageous for fleet operators, in both the public and private sectors.

The private sector will be instrumental in the electric vehicle transition. Provided there is sufficient long-term clarity of policy to address market barriers, the various actors in the electric vehicle ecosystem can work together to create a sustainable market transformation. Therefore, the internet of electric vehicles will be in more demand in fleet management.

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