Use of IoT and Telematics Bring Opportunities In Smart Fleet Management

Industry Insights Technology

Smart fleet management is a fully integrated system employed to simplify creation of effective maintenance plans. It integrates commercial, technical or operational requirements and restrictions. It also provides a fully integrated suite of solutions, which includes flight and business operations, reservations and distribution, fleet management and maintenance, human resources, and financial reporting. The smart fleet management offers timely and relevant data for optimum business decisions that can intensely lower costs; increase revenues; and improve customer experience.

Smart fleet management also provides a wide range of critical alerts, real-time alerts, driver behavior and anti-theft alerts, and safety alerts. Use of smart fleet management enhances safety; reduces costs; and ensures compliance. The smart fleet management helps keep drivers harmless by observing driver behavior and alerting the driver of actions that may pose a risk to his/her safety. With access to real-time fleet status and fleet data, fleet managers can perform operations more effectively and increase driver productivity.

Smart fleet management offers a broad range of tools to meet the needs of fleets of all sizes. Fleet operators track vehicles in real time to lessen transportation costs and idle time and thereby, increase the operational efficiency. The purpose of smart fleet management is to deliver effective real-time monitoring, fleet tracking, and security. With the adoption and advancement of smart fleet management solutions, driver behavior can be monitored and maintenance costs can be measured.

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Smart fleet management solutions comprise operation management, driver management, and vehicle management solutions. Increasing adoption of smart fleet management analytics is anticipated to drive the smart fleet management market in the next few years. Other driving factors include increasing demand for fleet monitoring and real-time tracking, rising requirement for automation of processes to enhance efficiency, and requirement for reducing overall operating costs. The growing need to lessen energy consumption, reduce vehicular emissions, and prevent traffic congestions leads to increased adoption of smart fleet management solutions.

The global smart fleet management market is expanding at a rapid pace. Regions such as North America are looking forward to adopting smart fleet management solutions. In terms of geography, the global smart fleet management market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is projected to be the leading smart fleet management market in 2018 due to growing transport facilities in countries such as India, China, and Japan. The smart fleet management market in the region is driven by regulations about transport safety.

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Some of the leading companies in the global smart fleet management market are Denso Corporation, CarTrack Technologies Co. Ltd, General Motors, ChainwayTSP Co., Ltd., Infineon Technologies AG, Magellan and Trimble Navigation Ltd., Zonar Systems, and Workwave LLC.

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Lisa Smith

Lisa Smith is a specialist in search engine optimized (SEO) content with a wealth of experience gathered from working in leading market research firms. Currently, she is the Team Lead for the SEO department at Transparency Market Research. In the said role, she has actively contributed to building a winning content strategy leveraging right keywords, link building, market research and analysis, and competitor analysis. Lisa has a Bachelor’s Degree in Computer Science from Nagpur University and a Master’s degree in Business Administration.

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