The future of fleet management systems: Emerging technologies and trends shaping the industry
It wasn’t so long ago that fleet managers relied on spreadsheets and paper documents to track vehicle usage, performance, maintenance, and more. However, the rise of new fleet management technology solutions has enabled better, more proactive decision-making for fleets, helping to improve efficiencies, better train drivers, and extend the service life of vehicle assets.
The transportation and logistics sectors are expanding at a significant rate, with the global commercial vehicle market size expected to grow from $553.65 billion in 2024 to $826.53 billion by 2033. This rapid evolution is not just a matter of speed and efficiency but also a reflection of how intertwined these industries are with technology. Consider, for example, AI-enhanced route planning, which has led to a 22.2% reduction in crash reports.
Learn more about how emerging technologies like AI are improving efficiency, promoting sustainability, and enhancing overall fleet performance — as well as how these innovations are creating new operational standards and driving the fleet industry into the future.
Real-time data sharing
Over the last few decades, corporate fleets have increasingly used data to run and optimize their fleets. But real-time data sharing now provides instant communication across fleet systems, helping teams better coordinate logistics and operations.
With GPS, telematics, and IoT sensors, fleet managers can track an asset’s location, speed, fuel level, mileage, maintenance needs, and more. It’s also possible to use real-time data to monitor driver behavior, such as speeding, braking, and idling times. This data can help fleet managers boost productivity and make more accurate and timely decisions, which is far beyond what traditional reporting systems can offer.
However, there are risks associated with using these systems. For example, as fleet systems collect and process large volumes of data, they become targets for cyberattacks. These risks can be mitigated by picking the right fleet management software. A good fleet management system can vastly reduce the risk of various threats, incorporate robust data security measures, and address privacy concerns.
Electric vehicles
Electric vehicles (EVs) have gained significant momentum in recent years, with 77 million passenger vehicles expected to be used in fleets by 2025. They have lower greenhouse gas emissions and maintenance costs than traditional combustion engines. And because EVs have fewer moving parts and electricity is often cheaper than gasoline or diesel, fleet operators can financially benefit from reduced fuel and maintenance expenses to extend their vehicles’ lifespan and value.
It is also because of improvements in battery technology and charging infrastructure that EVs are becoming the more practical and more convenient choice, as more fleet operations are encouraged to go electric. Thanks to longer driving ranges, faster charging times, and expanding charging networks reducing concerns about range anxiety, EVs are becoming a more viable option for businesses aiming to reduce their carbon footprint while capitalizing on the economic benefits of lower operational costs.
Predictive AI
Artificial intelligence is becoming more popular in various sectors for its potential financial benefits. For example, AI may help organizations achieve $1.5 trillion in additional value in the global industrial sector by 2030, thanks to its ability to increase productivity and reduce downtime in the supply chain.
When it comes to fleet management, predictive AI can be used in asset management to forecast when vehicles need repairs, suggest ways to save fuel, spot risky driving behaviors, and determine the best delivery routes. Its capabilities not only enhance safety but also improve the reliability and punctuality of services. It can predict inventory needs, catch fleet system problems early, and be tailored to better serve clients depending on their needs.
This article was written by Jon Stojan from Digital Journal and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.
