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 system trends of 2024.
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 2024-2043." 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 vehicle 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) The development of 5G networks
The top trend this year will be 5G fleet management. Fleets will be able to take advantage of 5G's key characteristics to improve productivity and decrease latency. The reach of tracking solutions will change as a result of the development of this technology resulting in more productivity. Employees can receive instructions from managers in real-time, which improves the overall operational productivity. With 5G widely available everywhere, now is the ideal time to invest in best white label GPS tracking software to maximize productivity and stay ahead of the competition.
Businesses that use a fleet management app will gain from 5G's enhanced coverage and productivity since it will improve communication. According to estimates, 5G signals can travel 20 times quicker than 4G. The developed nations of the globe already have 5G. However, it will be spreading worldwide in 2023-2024.
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.
Achieving fuel efficiency and cutting down fuel expense will be a main concern for commercial fleets in 2023 due to a record-high rise in diesel prices. In 2023, the fleet industry will experience advancements in technology and stronger tech integration, which will enhance the capabilities of GPS tracking software. Utilizing fleet management software will improve fleet tracking and management and operational efficiency.
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