Fleet industry is on the boom around the world. The fleet management market is anticipated to increase from USD 25.5 billion in 2022 to USD 52.4 billion by 2027, according to a recent Markets and Markets research. In the post-pandemic environment, the fleet management sector has advanced faster as businesses adopt new digital trends to boost productivity and cut expenses. New options are presented by service providers like white label GPS tracking software to cater to the varying needs of businesses.
Let us look at some of the top trends fleet management software trends of 2023.
1) Growing Adoption of Autonomous and Electronic Vehicles
As more businesses release high-end versions that improve communication through greater data sharing and sophisticated fleet software, EV usage is anticipated to increase even further in 2023. The global market for zero-emission trucks is expected to increase quickly over the following ten years, according to an IDTechEx analysis titled “Electric and Fuel Cell Trucks 2023-2043.” By 2043, the market for medium- and heavy-duty zero-emission trucks will be valued more than $200 billion a year.
As the sector lessens its reliance on diesel-powered cars and transitions to electronic and autonomous fleets, technology like fleet management software will be crucial in assisting organizations in achieving their sustainability goals.
2) Greater General Safety
Advancements in GPS tracking software will lead to an increased focus on safety resulting in more innovation related to it. To lower risks and accidents, key elements including geofencing, driver behavior, alarm systems, and others will be strengthened. Accurate vehicle and driver activity notifications are anticipated to be sent by intelligent monitoring systems. Additionally, deeper insights and reports will help you find flaws in your safety-related operations and fix them.
3) Pay attention to telematics tracking
Fleet managers will use telematics and GPS fleet tracking to for achieving real-time diagnostics. In addition to knowing the status of their vehicles and tracking the whereabouts of their fleet drivers, they can also make sure that they are adhering to safety procedures. With new features like voice integration, improved Artificial Intelligence (AI), and sophisticated data analytics, tracking solutions will improve in 2023. In modern GPS tracking software, In-cab video is amongst the most popular emerging technologies.
4) Remote Fleet Administration
The COVID-19 epidemic has put remote fleet management at the center of transportation operations. Fleet managers are concentrating on new approaches to handle activities in a remote setting and track the efficiency of their fleet drivers. With the use of efficient fleet management software, managers can better interact with their team, track statistics in real-time, and communicate with their executives.
5) Additional Data Security
Fleet vehicles contain a substantial amount of confidential information that must be safeguarded. Fleet managers will concentrate on enhancing their cybersecurity measures in 2023. Many fleet managers are upskilling in IT to take on fresh tasks and moving their attention from tactical to strategic management. As data visibility rises, they will concentrate more on gathering and analyzing data.
6) Mobility-as-a-Service (MaaS) to Emerge Mobility-as-a-Service
MaaS will grow in prominence as fleet managers can tailor their services and modify their conventional methodology. According to estimates, the size of the worldwide MaaS market would rise from USD 52.56 billion in 2019 to USD 280.77 billion in 2027.
Fleet managers may try leasing or even using company-owned vehicles. MaaS will assist fleet managers in reevaluating existing fleet management procedures. Businesses may better utilize idle vehicles, manage costs, and lower their carbon footprint by embracing vehicle sharing. The most important fleet metrics will change as well, moving away from vehicle counts and statistics and towards things like timing, trip success rates, attendance rates, and annual cost.
7) Increased Traffic Safety Procedures
Due to the pandemic, fleet owners and managers will concentrate on fleet and driver security. They will prioritize driver safety by tightening sanitization controls during vehicle inspections and ensuring they have the necessary equipment. Modern white label GPS tracking software can also be used to ensure that safety protocols are met by the staff. This will benefit your drivers and employees and show that you are ready to reduce risks and virus exposure.
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A new business mindset has emerged as a result of the industrial revolution. Everything has changed, including operating procedures and work ethics. Companies today consider novel strategies to increase productivity. The fleet industry changed over time as well. However, until fleet management system came along, it was unable to find a permanent solution to its problems. These management solutions solved many daily difficulties in a business’s operations.
Innovative telematics platforms were built on the idea of vehicle management. Their functionality was developed by taking into account a fleet’s regular operations. Most administrative activities are now completed by monitoring systems, and they do so more effectively. They boost a company’s productivity while also saving time.
We will discuss about many areas of GPS tracking software in this blog.
What is Fleet Management?
Fleet management is the process of efficiently managing and utilizing every asset in a fleet, from acquisition to disposal. It’s a broad word that includes everything from telematics to monitoring and maintenance. Managers use a variety of strategies to carry out regular tasks. Therefore, there are no hard and fast rules to manage a fleet.
What is its purpose?
Every company that uses vehicles for daily operations needs a management system. Its goal is to manage every day the full lifecycle of commercial vehicles. It involves boosting production, lowering risk exposure, and assuring compliance. Although modern white label GPS tracking software have a wide range of capabilities, the following are some of their more notable features:
Maintenance:
Any vehicle that is not properly maintained has a tendency to deteriorate quickly. A huge fleet makes maintenance tasks twice as challenging. Without the necessary maintenance, a business not only experiences operational issues but also suffers financial burdens. With the use of an efficient fleet maintenance, a company can run hassle-free operations.
Managing Information:
When many cars are moving around every day, a lot of data is produced. Most of it is not useful for the company while some of it is. The managers start to worry about how to manage this enormous volume of data. They must separate the relevant data from the irrelevant stuff. It requires a lot of work and time. A great answer to this issue is provided by fleet management software, which has a well-organized data management system.
Fuel Management:
The main goal of a fleet manager is to avoid needless expenditures. The majority of operational costs are related to fuel, and it is quite difficult to keep those prices low. The cost of fuel is influenced by a variety of factors, including market pricing and national foreign policy. It is impossible to handle such aspects through management. However, the cost of daily fuel, is something that can be managed with careful preparation and oversight.
Safety:
The demand for driver safety has increased along with the advancements in automotive technology. Accidents cause a lot of damage to businesses. They cause losses in terms of finances as well as resources. There is no fixed answer to this issue, making prevention a challenging task. However, a reliable GPS tracking software can reduce the likelihood of an accident and theft through a number of strategies. For example, with the help of latest fleet maintenance software, the vehicles tend to be in an efficient condition reducing accident risk. Moreover, safety features like alarm systems and driver identification can prevent theft.
In this day and age, fleet maintenance system is the need of the hour for transportation businesses. It can help them manage things efficiently and achieve more productivity. So, if you are running a fleet and want to boost your operations, a fleet management software is the way to go.