Fleet telematics has been around since 2010, but it has now occupied center stage in the transportation industry, in large part due to the pandemic. Advancements in telematics and GPS tracking technology are continuing to become more sophisticated, while improving efficiencies, minimizing costs, and improving driver safety.
With the outbreak of the pandemic, fleet industries had to adopt vehicle telematics as a reliable way of monitoring their fleets, lowering asset thefts and losses, and promoting better driver behavior.
At present, about 35% of all US fleets are using some kind of telematics system to monitor and maintain their fleets. There are plenty of advancements currently in the field of the Internet of Things for vehicles (Internet of Vehicles) and in the area of telematics that are virtually astounding.
By 2022, the market for global fleet telematics will have become a staggering $103 billion business. The growing sophistication of these systems has allowed management to become much more streamlined, especially with the growing importance of the Internet of Things.
With non-stop developments in the area of embedded systems and external sensors, fleet management in the USA can capitalize on coming trends in fleet telematics to gain an upper hand on competitors and to ensure their own success.
Through the usage of fleet management systems, it will be possible to assume control over business-critical operations like order management, shipping, mileage, and compliance reporting, lower fuel consumption, reduced CO2 emissions, and better routing for vehicles.
What the IoV can do for Vehicle Telematics?
Vehicle telematics boils down to installing a device with an embedded SIM card that can allow for the remote acquisition of vehicle information such as speed, tire pressure, location, and engine idling.
This information can be delivered faster and more accurately than has ever been possible in the past, and this technology has already been implemented by a number of US companies so as to save money on their insurance policies. Insurance companies are more than willing to reward fleet managers and their companies for good driving behavior.
In the business world, telematics has tremendous usage for locating and keeping fleet vehicles safe while they’re in transit on transport jobs. The Internet of Vehicles (IoV) is the logical next step in the continuing evolution of vehicles. Sensors are capable of gathering a great deal of information about the vehicle, the general environment, driver behavior, and even data relevant to other vehicles.
This opens up a tremendous number of possibilities in the way of better navigation and routing, as well as traffic management. It can even contribute to measure and control the air pollution by vehicles on the road.
5G Will Expand Connectivity
The future of fleet telematics will be heavily influenced by the latest technology in GSM. 5G technology has more bandwidth, increased reliability, lower latency, and is extraordinarily fast.
When coupled with IoT hardware and superior computing power, 5G technology can provide a whole world of new opportunities in the way of vehicle monitoring and connectivity. 5G technology will help fleet managers to monitor vehicles in remote locations through the use of smartphones.
Current technology has a tendency to be disrupted by weather fluctuations or other types of interference, and this causes vehicle camera systems to lose their effectiveness and accuracy. 5G cameras can accomplish much faster data transmission, improved control of operations, better monitoring, and lower costs.
Given the fact that the fleet telematics industry will have 24/7 connectivity, it will be possible to improve lane merge coordination, empower long-range sharing of sensor information, and provide greater protection for pedestrians and drivers on the road.
Enabling Data for Greater Access
The newest generation of vehicles equipped with IoT-powered sensors will be capable of providing enormous amounts of data on a continuous basis. GPS tracking systems will be able to deliver information on mileage, excessive speeding, hard acceleration, and other driver behaviors.
Fleet owners will thus have the opportunity to delve deeply into this data in an effort to promote better driving behavior amongst their operators. It will be much more possible to use data generated from vehicle telematics systems to do things like map roadway conditions, to alert drivers in routes that are high risk.
Cloud technology will certainly have its uses to store and process these vast amounts of data. Cloud solutions will use real-time data to ensure that remotest device tracking and management becomes more reliable and more dependable. Given that all this information is available on the cloud, it also means that fleet owners and managers will have the capability of accessing that data from literally anywhere on the planet.
Historical data stored on the cloud surely can enhance managerial processes such as human resource management, customer service, and operational analysis. Thus, cloud usage will not only enhance fleet telematics management by itself but other aspects of business management as well.
Trends for the Coming Year
There is little doubt that fleet telematics and GPS will continue to evolve and expand in 2022, and that will improve the management and efficiency of any business which operates a fleet of vehicles.
It will be necessary to make a major effort to secure the vast amounts of data that will become available from both internal and external sensors. That means that data security will receive greater emphasis in the coming year, as companies get to protect their data assets.
Embracing new trends will allow company executives to stay competitive and monitor their fleet vehicles much better, with a view toward increasing efficiency, driver performance, and real-time updates which can be provided to clients.
Any business which operates a fleet of vehicles in the future will have to undergo constant improvement, by acquiring more useful information from both vehicles and drivers. Future fleet management improvements will undoubtedly happen when 5G technology becomes more prevalent, and improvements are made in hardware and software relative to fleet management.