Fleet management operations of all sizes are taking advantage of the many ways IoT can improve their performance, including efficiency, safety, and ease of management. And the opportunity for further innovation using IoT is significant. A 2019 report from MarketsandMarkets estimates the market size for IoT fleet management solutions will be more than $8 billion by the end of 2021, representing an average of more than 21% annual growth. IoT is creating a wealth of opportunities for fleet managers in several ways, and this article serves as an introductory guide to how your company can leverage it for greater growth.
Fleet management includes all of the activities required to keep a fleet of vehicles running on time and within budget in an efficient manner. It ensures the maintenance and performance of the fleet so that the business runs as smoothly and productively as possible. Fleet management balances the desire for efficiency and productivity with an eye towards safety and long-term sustainability.
Many different kinds of companies manage fleets, from retailers to service companies. For example:
Fleet vehicles are literally everywhere, and many product and service companies depend on their fleets to deliver their offerings to retailers and customers.
IoT makes fleet management easier and simpler while streamlining processes to reduce costs. Fleet managers can use IoT to optimize maintenance and logistics, better comply with regulatory requirements, improve fuel efficiency, monitor driver performance and promote safer habits, maintain vehicle health, improve scheduling for on-time delivery, and increase customer satisfaction. Here are five ways IoT is driving fleet management forward.
IoT can optimize performance, which can extend the life of a fleet and reduce costs. Using sensors, vehicles can send automated alerts when parts require maintenance or are experiencing an issue. Additionally, they can identify when a battery needs to be replaced or when coolant temperature is off. IoT-enabled remote cameras allow for remote inspections or for monitoring when drivers get tired and are at risk of injury.
IoT assists in improving fuel management, identifying issues with vehicles, scheduling preventive maintenance, and increasing idling time efficiency. These activities reduce costs and create a smaller carbon footprint. Using IoT, companies can also reduce inefficient acceleration, bad breaking patterns, and excessive speed.
IoT can provide significantly increased visibility into fleet operations, which companies can use to make strategic changes for efficiency gains. From route planning to optimizing downtime, companies can use data generated by IoT sensors and supply chain systems to more effectively manage their operations.
Using IoT, fleet operators can automate many processes. For example, automatic notifications can be sent when a vehicle needs service, for weather warnings, and when a trip needs to be rerouted due to traffic or some other disruption.
IoT can be used to remotely lock an engine to keep unauthorized drivers from being able to access vehicles. Companies can proactively address safety concerns before they become a problem.
These improvements represent some of the most significant changes we’re seeing in fleet management today, and we’re sure IoT will continue to revolutionize this industry in new and innovative ways.
There are so many innovative examples of companies using IoT in fleet management today. Here are some examples of several Zipit customers as well as other established companies across different segments of transportation to give you an idea of how today’s businesses are using IoT and the benefits they’re seeing from it.
These are just a few of the many examples of IoT improving fleet management being implemented today. We’re also seeing companies that help to improve fuel efficiency, provide predictive maintenance alerts, and monitor driving habits, which can be used across all fleets. It will be interesting to see how these advances evolve over the coming years as more and more fleet management companies and businesses that manage fleets take advantage of all that IoT has to offer.
Zipit offers worldwide tier-one carrier connectivity from the top cellular providers. We partner with companies in transportation and other industries, making it easier to launch and monetize IoT solutions anywhere in the world. Innovative fleet management companies can leverage Zipit’s sophisticated and intuitive multi-carrier platform to manage device connections, handle billing, and more.
Want to know more about Zipit’s robust yet intuitive IoT platform to connect and monetize IoT solutions for the transportation industry? Contact us to discuss your company's unique needs. We’re happy to offer insights based on our extensive experience.
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