Pace-up with Your Fleets Through IoT Technology
The Internet of Things (IoT) is introducing automation to boost the productivity of every industry. The technology plays an important role by connecting the fleet assets with suitable applications to make the operations safer, greener, and cost-effective especially in the transportation sector.
The Global IoT fleet management market is expected to grow with a CAGR of 21% during 2021-2026. It reveals a huge growth in the transportation sector that IoT technology is widely accepted to carry out fleet functioning. It gives you data in real-time, alerts you immediately about the vehicle’s condition, improves fuel usage efficiency, along with keeping the fleet drivers safe. IoT constitutes advanced level sensor devices that help the industry grow its potential to the maximum. Also, a data-driven approach offers accurate insights for the fleet managers to make better decisions. Let’s find out the potential motives of IoT in the fleet industry.
The Potentiality of An IoT-powered Fleet Monitoring Solution
Fleet management is hugely benefitting from the increase in asset interconnectivity through IoT. Here, sensors assist you to connect with other vehicles entering close to your range. This vehicle-to-vehicle interconnectivity is the most unique aspect introduced by IoT. It not only curbs the traffic flow but also maintains driver safety and follows an environmental-friendly pattern of using automobiles.
IoT solutions offer a better fleet and insightful information regarding operations. It presents better business strategies for fleet managers and authorities to stay competitive. These solutions benefit in the following ways:
- Maintaining Vehicle’s Condition
- Remote Asset Tracking
Fleets are purchased at a very hefty amount and maintaining them through traditional ways becomes more expensive including the manual supervision charges. However, with the help of IoT solutions, you can manage your fleets remotely. IoTizing your fleet management desk fetches the data from the sensors activated on your vehicles and displays it on your dashboard. This possibly helps in gaining accurate insights about the vehicle’s position, fuel efficiency, and driving habits all from your office’s cabin.
- Predictive Maintenance
IoT technology consists of advanced algorithms that assist managers in analyzing better results. Predictive maintenance is the method that with the help of real-time information on assets like tire pressure, engine’s health, vehicle’s battery generates immediate alerts for the user to stay aware. This helps in identifying vehicle issues before it’s too late.
- Green Fleet Strategy
- Eliminating the Asset Idleness
IoT is a way to reduce the carbon footprint of your fleet, allowing you to stay compliant and environment-friendly. An investment in IoT ensures that there is efficient fuel usage at every mile. You can keep an eye on your driver’s habits of handling the vehicle and also prepare instructions to coach them for the best fuel optimization practices. The Internet of Things technology comprises of an improved route optimization strategy that can potentially guide the drivers with easy commuting ways, avoiding gas wastage in traffic.
- Safe Driving Experience
- Predicting Weather Conditions
Sensor-installed vehicles get real-time updates regarding the weather conditions in the destined region. These updates automatically course-correct the drivers immediately and save a lot of time for scheduled deliveries. The sensor devices in the vehicles provide accurate weather data for the drivers to take immediate decisions and optimize delivery time.
The potentiality of IoT technology is thus reducing the traditionality of vehicle maintenance. The strong interconnectivity between the fleet assets allows you to manage things on and from one platform, simplifying everyday tasks. It naturally increases the chances of expanding the fleet business in more areas when you have a simplified dashboard with built-in analytics. IoT uses the data-driven approach that improves the operability of the fleet industry by storing the historical data on a cloud platform for quick analysis.
Apart from the benefits above, what are the possible IoT solutions that allow you to have a good rapport with your fleets?
Pace-up with your Fleets by Using these IoT Solutions
- One-Stop Fleet Monitoring Solution
Fitting perfectly with all your fleet’s unique needs, this solution resolves every query related to the driver’s behavior, delivery delays, thefts, operational overheads, and much more. This one-stop solution empowers your fleet business with the latest and advanced sensor technology that automates the entire fleet operability.
The solution is capable of generating real-time alerts related to the vehicle’s speed, maintenance, temperature, engine conditions, traffic idleness, etc. It allows the driver to stay aware of his vehicle’s condition and take immediate action in case he faces any inefficiency.
- GPS Fleet Tracking Solution
Always stay in touch with your fleet’s vehicle and know every activity of your driver with this GPS fleet tracking solution. It accurately processes the real-time fleet data and provides 24X7 location tracking.
Other than this, the solution is capable of solving real business challenges in the fleet industry. It assists fleet managers with efficient fuel optimization techniques and guarantees on-time delivery through real-time insights into fleet operations. The solution is equipped with a personalized dashboard and seamlessly handles the data of unlimited vehicles. If you are looking for a cost-effective and safer IoT solution, this is the one for you.
- Smart Contract Solution
It is a modern way to safeguard the title of your goods. It is powered with a subtle combination of IoT and blockchain technology that maintains the confidentiality of the contracts. The terms and conditions decided among the two parties are encoded through this solution, which is self-verified on every level the product passes through.
The solution uses the capabilities of sensor devices that immediately alert the concerned parties in case of any contract breach. Smart contracts are highly recommended for international trade to avoid substantial hurdles during cross-border goods exchange. It significantly helps in automatic and secured transactions soon after the confirmation of contract execution.
- Cargo Monitoring Solution
The fleet industry operates hugely with all sized cargos and containers. These containers are highly exposed to damage or thefts, which requires unique ways for secured cargo transits. The fleet industry, with the help of an IoT-powered cargo monitoring solution, can mitigate such challenges. The managers can supervise every activity and location of the cargo during its transit.
Moreover, the solution takes the responsibility of maintaining favorable parameters for the cargo like temperature, humidity, weight, and luminosity. No matter if your cargo is travelling through any mode of transport, the cargo monitoring solution provides instant updates and creates transparency for the managers to optimize supply chain operations at any moment.
IoT is the technology that you need for your trucking business to see through every fleet activity regardless of the vehicle’s or cargo’s location. Implementing the required IoT applications to carry out fleet business offers seamless operability and better management of the tasks. Performing periodic checks on your fleet or keeping a daily record of the fleet’s activity on your smart device, an IoT-powered solution can do everything. In the current times, you can scale-up your fleet business by installing IoT applications and walk through every activity of your fleet from the comfort of your office.
This article was written by Sanjeev Verma, the founder and CEO of Biz4Group, based out of Orlando. He has conceptualized the idea of Biz4 Brand and founded Biz4Group and Biz4Intellia. He has 20+ years of experience in boosting IT-based start-ups to success. In the past, he has worked on leadership positions with Marriott Vacations, Disney, MasterCard, Statefarm, and Oracle.