A recent study by Transparency Market Research (TMR) on the global IoT fleet management market has found that smartphone integrated real-time data is driving demand for fleet management services worldwide. The study notes that an increasing number of transportation companies are integrating their tracking and monitoring, routing, fuel management and remote diagnostic processes using mobile technology.
Mobile Technology has had a defining effect on the fleet management market, as an increasing number of transportation companies are integrating their tracking and monitoring, routing, fuel management, and remote diagnostic processes with it.
The advent of Internet of Things has made it possible for automobiles to seamlessly connect to smartphones, and provide emergency roadside assistance as well as real-time traffic alerts.
Commenting on the report, Ruth Kang’ong’oi, GM, Safetrac Limited, noted that more people are increasingly accessing the internet through mobile phones, which is playing an increasingly important role in the future of fleet management business.
‘’Mobile technology has evolved tremendously in ways which benefit businesses and their fleet. With smartphones or tablets, companies can employ active fleet monitoring without the need to buy additional equipment. This, in the end, helps the companies make significant savings and meaningful decisions on their businesses’’ she said.
Fleet owners should, therefore, expect mobile fleet management solutions to grow increasingly popular as fleets work to make their drivers’ lives easier.
‘’Our mobile application, for example, enables fleet owners to track their vehicle via the application. You can view all online and retrospective movements of your vehicle and receive all alarm reports through it. This saves time and labor and ensures tracking and control of your vehicle no matter where you are as long as you are an Arvento system user.’’ Ruth Kang’ong’oi adds.
The IoT is made up of several smart devices such as sensors, mobile devices and cameras, all of which make use of wireless technology to communicate with each other. Incorporating IoT with fleet management helps in managing fuel and labor costs, improving fleet maintenance procedures, maximizing dispatching and scheduling, increasing response times, and enhancing customer satisfaction.
Safetrac Limited has partnered with Arvento Mobile Systems one of the world’s largest vehicle tracking and fleet management companies in the world to provide this advanced technology in the East African region.
This superior technology provides fleet operators with visibility into their vehicle location, fuel usage, speed and mileage and other insights into their mobile workforce.
The study also found out that the demand in the global IoT fleet management market will escalate at a highly impressive CAGR of 20.0% during the forecast period of 2017 to 2025. It evaluates that the IoT fleet management market, across the globe, was worth merely US $3,340.0 mn in 2016, and estimates it to reach a valuation of US $15,870.0 mn by the end of the forecast period.