Growth Trends in American Fleet Management
Reports suggest that the installation of active fleet management units in North America and Latin America will surge to 29 million by 2024.
The use of GPS tracking systems and telematics has revolutionized the modern fleet management industry. Because such technology provides a more efficient way of doing business in trucking and shipping, the industry and governments have adopted new guidelines for how business is conducted.
In a recent review, the impact of these new technologies on the industry was made clear. Fleet management software has changed the course of the industry, allowing workers to focus more on the transportation of goods, and less upon the paperwork and reports that they used to do manually.
Installation of fleet management systems in North America and Latin America is expected to reach 29 million units by 2024, according to Berg Insight.
Fleet Management Systems on the Rise in North America
Berg Insight, the leading IoT market research provider, reports that the number of active fleet management systems deployed in commercial vehicle fleets in North America is expected to reach 22.2 million by 2024.
In the fourth quarter of 2019, 11 million fleet management systems were in use in North America. The number of systems in use is forecasted to grow at a compound annual growth rate of 15%. This means that use of the technology will more than double within four years.
Fleet management technology has revolutionized the tracking of a variety of data, streamlining processes, eliminating paperwork and headaches for fleet management business owners and drivers.
This extends beyond GPS software, which can provide you with your fleet’s location immediately and provide your drivers with more accurate directions and faster routes.
The United States Department of Energy requires tracking of fuel and alternative fuel consumption. This was conducted manually before, but now telematics can monitor the data directly from vehicles to your company’s cloud.
The Food and Drug Administration requires that shipped food remains safe by staying at a constant temperature. Fleet management software and temperature monitoring in refrigerated trucks can track that, alerting managers of any deviation in temperature or breakdown of equipment while perishable goods are en route.
Insurance companies investigating claims and incidents can easily review dashcam footage from your vehicles, protecting your company and your drivers from false accusations or criminal activity. Additionally, fleet management software can often lead to reduced insurance rates.
Even driver conduct has come under the government’s purview, assuring that roads are safer as drivers commit to good behavior and sobriety.
The benefits to integrated software make conducting business easier. Instead of manually checking a variety of reports or dealing with a multitude of separate monitoring companies, fleet management platforms can be customized to compile your data in one report, placing the most necessary and valid information at your fingertips as you need it.
Thus, its impact and growth within the industry is not surprising. Its time-saving methods affect the effectiveness and safety of your team and improve your bottom line.
Industry Leaders in Fleet Management
Though there are a variety of players across the GPS tracking and fleet management space, what they offer can be vastly different from provider to provider. For example, while some providers may boast a low monthly rate, their offering may not provide end-users with the kind of information they require to help improve their business.
When shopping for the right fleet management solution provider, it’s important that their solution cover the most crucial features required to make business better. For example:
- Real-time tracking and mapping
- Maintenance alerts
- Driver dispatching
- Landmarks and Geofences
- PTO event tracking
- Mobile fleet tracking
- Robust reporting
- High-level analytics
- Field service management tools
- Ongoing training and technical support
GPS Trackit’s own software provides its customers with the fleet management solutions they require, customized to their business needs and at the cutting edge of industry trends, including vehicle maintenance reports, location services, temperature monitoring, geofencing and driver report cards. Customer service and individual attention is key.
The growing popularity of fleet management software, based entirely upon the benefits and ease that it provides workers in the industry, means that the industry has forever changed from the days of paper tracking and CB radios. The new technology is both innovative and cost-efficient.
Using the GPS Trackit fleet assessment tool, you can determine how your GPS tracking software and fleet management solutions can best grow your business into the future.
If you’d like to learn more, speak to a fleet advisor who can help you determine the best solutions for your growing business.