Innovations in digital technology have transformed fleet management like never before. Devices such as smart sensors, actuators, and more – enabled by IoT – are helping fleet operators achieve performance and growth.
With IoT in the fleet industry, fleets have become more efficient and smarter. With IoT-based sensors, fleet conditions and locations are monitored continuously. Besides contributing to the analysis of other fleet factors, such as the vehicle’s speed and the braking system, they are also a key component of the analysis of other fleet factors.
IoT-savvy fleet operators rejoice. There are a variety of problems that IoT-based fleet management vehicle tracking systems, such as a need for real-time supervision of fuel consumption, delays in shipments, and truck driver management can address.
With the Internet of Things at the center of the IoT wheel, fleet operators can increase the success and growth of their fleets through constant investment and development.
Table of Contents
Statistical report: IoT is revolutionizing fleet management technology
A report by Verified Market Research indicates that the IoT Fleet Management Market is expected to generate revenue of USD 19.94 Billion by 2026, representing an annual growth rate of 20.4% between 2019 and 2026. With IoT, fleet management is evolving as information about the routes, vehicle performance, cargo, drivers, and passengers is collected. During the last decade, the automotive industry has undergone an extreme transformation, driven by new technologies such as cyber security, electrification, vehicle to everything (V2X), and a long list of others quickly becoming mainstream
The challenges of IoT fleet management
In today’s fleet management world, fleet managers face many complex challenges. Tracking vehicle and driver info in real-time helps you make sound business decisions to run an efficient fleet. Bringing IoT together poses some challenges.
Keeping drivers safe
Video technology can monitor driver behavior to improve safety and minimize risk. Before driver management technologies, driving behavior management technology was used to monitor harsh braking, accelerations, and sharp turns.
Maintenance of vehicles
The IoT vehicle tracking and fleet management system can measure vehicle performance, preventing costly breakdowns. Fleet managers can schedule preventative maintenance in advance to avoid disruptions.
Recovery of stolen vehicles
IoT fleet management solutions for stolen vehicle recovery include cellular and satellite trackers, GPS, and location-based software.
Reporting, monitoring, and vehicle tracking solutions are key to reclaiming them before they’re stolen, sold illegally, or scrapped. In addition, remote disabling technology can help prevent vehicle theft
How is IoT revolutionizing fleet management?
With IoT, fleet tracking solutions have become so smart that we can even call them stewards of other technologies. IoT has paved the way for connected vehicles.
Asset tracking and remote monitoring
Smart tracking solutions make the best use of telematics (i.e., in the form of telecommunications and informatics), an application of the IoT designed specifically for vehicles. The system provides fleet operators an efficient way to monitor vehicle locations and asset movements by connecting sensors and GPS devices.
Management of fleet operations efficiently
As IoT integrates disparate technologies, including cloud computing and big data, connected devices become more seamless. A well-connected endpoint makes it possible to access data in real-time, anywhere, anytime, and on any device. The cloud makes it possible. Smart fleet management solutions can also be integrated with existing ERP systems to help fleet operators make informed decisions faster.
Managing driver behavior robustly
The behavior of its drivers highly influences the performance of a fleet operator. Through IoT, they can monitor infringements or whether drivers follow operating standards and established schedules and routes. As a result of IoT, fleet operators can track the engine’s ON/OFF frequency, driving pattern, or sleeping pattern through sensors.
Optimizing costs for higher profits
Technology such as IoT enables freight and transportation businesses to eliminate traditional operating methods that are both time-consuming and costly and create communication gaps between parties. As a result of successful integration with other technologies, fleet operations can be simplified on a day-to-day basis.
Use Cases of IoT in Fleet Management
Fleet management can be facilitated through IoT in many ways. Here are a few of them:
Maintenance of fleets
The importance of data analysis, predictive algorithms, and telematics solutions is evident when trying to resolve any underlying problems with a vehicle. Motors, brakes, batteries, and tires are protected from damage, resulting in long-lasting, efficient vehicles.
Automating your fleet management with IoT will help you automate multiple processes and plan your trips seamlessly. IoT makes fleet management intelligent with minimal human involvement, such as sending alerts in case of a bad weather forecast, selecting the fastest routes, and sending vehicle breakdown warnings.
In IoT-enabled buses and other passenger vehicles, passengers can access information about services, routes, and fares. In addition, it allows passengers to be informed about rules and regulations while providing them with services such as paperless ticketing and WiFi access.
As IoT becomes more common in large and small fleet deployments, it will play a more pivotal role in fleet management. As well as artificial intelligence (AI), autonomous vehicles, and other emerging technologies, fleet management is also set to be affected by several other emerging technologies.
Albert Smith is Digital Marketing Manager at Hidden Brains, a leading software development company specializing in mobile & web apps. He provides innovative ways to help tech companies, startups and large enterprises build their brand.