Fleet management is an administrative process that lets companies organize and coordinate work vehicles and mobile assets. This management helps companies keep up with the changing market conditions and regulations, all the while maintaining cost-effective and reliable operations. Having a proper fleet management system in place helps monitor lifecycle of commercial vehicles while cutting down associated risk and improve productivity.
Fleet management plays a huge role in industries where commuting is essential. Delivery, couriers, utility sectors, repair, and product servicing sectors can all benefit from a reliable fleet management system. This industry has changed a lot over the past years, incorporating new technologies and is still evolving rapidly.
Let’s take a look at some of the top trends in fleet management industry.
Electric & Autonomous Vehicles
The interest in electric fleet vehicles is growing noticeably, considering their benefits. The use of electric vehicles reduces carbon footprint of the company, adding to its green side. Besides saving on fuel costs, electric vehicles also seem to need lesser repairs. This not only decreases costs for the company but also ensures business continuity. It also helps that it is relatively easy to switch to electric vehicles and adapt processes for the same.
Autonomous and semi-autonomous vehicles is one of the technologies that is generating widespread interest among the industry players. Even though this technology is still in development, it is an important concept that is attracting a lot of investment from the industry players.
It is believed that adoption of autonomous vehicles in the fleet management industry will lead to efficient operations and increased productivity. This technology will help fleet managers to enhance processes and potentially have a safer experience for operators.
Improved Data Security
Transport and automobile industry is increasingly adopting software to manage their work. In such cases, one of the components is securing the data. Any leak or loophole in the security of the data can become a major problem. It is believed that as fleet management industry incorporates newer technologies and advanced software, need for stronger cybersecurity will emerge. This will lead to the development of enhanced technologies solely for the purpose of protecting data and confidential intellectual properties. Although these newer ways of protection might be aimed at fleet management sector, they will be adapted to benefit other industries as well.
Automobile and fleet management industry will also be prepared to adopt the latest generation of mobile networks, 5G. This newest technology is touted to be 100 times faster and have much higher flexibility than 4G. This technology will be adapted to cover large areas as well. This means with 5G, more devices can be connected, and internet can be adapted to get more functions done.
This will lead to a lot of innovation and newer technologies emerging. One such technology that will grow to a new level with 5G will be the Internet of Things (IoT).
Internet of Things (IoT)
IoT will pay a major role in atomizing a lot of processes involved in fleet management. Especially with the emergence of 5G, IoT will be implemented for functions that we can’t even think of at this point. Telematics and tracking will be much more detailed and do a lot more than just track location and timing. The real-time streaming of driver’s location, scheduling, and traffic will be down to the millisecond.
Another technology that 5G and IoT will support is Artificial Intelligence. AI will see a lot of progress, expected to integrate data analytics and other functions in the fleet management industry. It is said that internet and IoT will be seamlessly incorporated in every process of fleet management and this, in turn, will support the implementation of AI.
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