As for the fleet industry, it is no exception.
Vehicle tracking and telematics systems are undoubtedly part of successful fleet management and customer success.
Businesses need breakthrough technology to optimize operations, monitor fuel consumption, and maintain costs, to name a few.
Here are some telematics trends for 2022 that will help keep your business relevant.
But first, how relevant is the telematics industry?
According to Fortune Business Insights, the global automotive telematics market is expected to grow to $179.5 billion by 2028.
Through telecommunications and information technology, telematics is being used in top-level transportation and logistics in various industries.
What are the different types of telematics for your fleet?
With the rise of innovative fleet technologies, companies will need to select the ideal telematics solution for their vehicles.
These are some of the telematics solutions that exist today:
- ON-BOARD DIAGNOSTICS (OBD) II
This is an interface in the vehicle that allows the user to retrieve valuable data such as the vehicle's speed, engine performance, etc. The portable fleet telematics device will be connected to the OBD interface. The OBD-II telematics device transmits on-board datato the base station for processing and use in fleet management software.
THE SMARTPHONE MOBILE APP RECEIVES DATA VIA BLUETOOTH-ENABLED IN-VEHICLE SENSORS AND OFFERS CUSTOMIZED VEHICLE TRACKING OPTIONS. THE LATEST SMARTPHONES ARE EQUIPPED WITH (GPS) RECEIVERS AND OFFER VARIOUS SERVICES TO CAPTURE, STORE, AND PROCESS REAL-TIME DATA
- Hardwired devices
These are secure, hard-loaded in the vehicle, connected to the vehicle's electronics, and powered by the vehicle's battery. The telematics control unit sends critical telematics data over the wireless infrastructure.
What are the top three benefits for companies using telematics?
- Improve fleet operations
Many areas of the fleet business can be expanded to the next level. Telematics solutions will provide actionable data insights so you can make the best operational decisions for your business. For example, this data will provide insight into ways to improve fleet maintenance to prevent roadside violations, minimize vehicle downtime, increase driver awareness, and improve maintenance costs.
- Enhanced security
GPS VEHICLE MONITORING ALLOWS YOU TO SEE IF AN ASSET IS IN THE RIGHT PLACE, ESSENTIALLY THE FIRST STEP IN ENSURING THE SAFETY OF YOUR VEHICLE. HOWEVER, TELEMATICS TECHNOLOGIES AND FRAMEWORKS CAN TAKE FLEET SECURITY TO ANOTHER LEVEL.
Here are some examples of telematics security features:
– Vehicle Immobilizer: Track driver ID, route deviations, and unauthorized stops to prevent your drivers from entering high-risk areas. Notifications and alerts are sent to warn the fleet manager accordingly.
– Driver safety: If your driver is unfortunately attacked, you will receive an alert and be able to react immediately to protect your driver and vehicle. Simply press the panic button and get instant notifications about the driver's location and other information.
– Safe driving methods: Telematics platforms provide various information about driver behavior, such as demanding driving and excessive idling, which can be used to mitigate road accidents and promote healthy driving patterns.
- Increase cost management and revenue
Businesses have the opportunity to reveal weaknesses in their operations and make them better overall. This will only bring more customers into the business, maintain a competitive edge, and delight existing customers with exceptional service. Sometimes it can be difficult to identify these challenges, which is why a fleet management system will do the job for you.
Perhaps the management process is lacking, and the platform will organize it better for you. Or maybe there is a fuel difference that you can't explain. In this case, you'll gain insight into how to monitor fuel consumption, as well as other fuel-saving factors such as fuel card theft and fraud.
10 telematics trends to watch in 2022
- Improve driver behavior
There is a strong focus on monitoring the fleet industrydriverand give them the ability to improve their driving methods. The company understands that this has a positive contribution to overall fleet performance and business profits, and vehicle telematics systems will help them achieve this goal. They will always need a variety of real-time information such as sharp speeds, sharp turns, hard braking, and excessive idling to prevent accidents and improve fuel consumption during the process.
- Internet of Things (IoT)
IoT brings internet connectivity, data processing, and analytics into the world of physical objects. As a result, devices can be interconnected and communicate with each other to provide users with unique experiences and develop business operations.
IoT solutions are the telematics trend in fleet management solutions, where all aspects of fleet operations can be effectively managed by exchanging real-time data.
For example, fleet operations transporting goods that require temperature regulation can benefit from IoT technology. If there is an unnecessary fluctuation in temperature, the sensor device gives data and managers are alerted via the telematics fleet platform.
- 5G EXPANDS CONNECTIVITY
ACCORDING TO EXPERTS, 5G WILL BE INTEGRATED INTO SMART TRANSPORTATION IN THE NEXT DECADEwirelessThe use will boom at a rate of 26% per year, reshaping the future of the vehicle telematics market.
WHAT'S ALL THE FUSS ABOUT 5G? THE TECHNOLOGY IS FAST, HAS MORE BANDWIDTH, LOWER LATENCY, AND HIGHER RELIABILITY. IT CAN CREATE NEW OPPORTUNITIES IN VEHICLE CONNECTIVITY AND MONITORING.
LOW-LATENCY 5G TECHNOLOGY ENABLES AUTOMAKERS TO OFFER ADVANCED FEATURES IN ADVANCED DRIVER ASSISTANCE SYSTEMS (ADAS), SUCH AS FUEL TRACKING, REAL-TIME NAVIGATION AND COMMUNICATION, SPEED AND CRUISE CONTROL, AND BETTER FLEET MANAGEMENT.
It also helps fleet managers monitor and control parameters from remote locations via smartphones.
- Reduce maintenance costs and increase productivity
Any way fleet managers can save and improve their business will always be a hit.
Cutting maintenance costs is a growing trend as it reduces breakdowns, unnecessary downtime, and expenses that keep profits rising.
Telematics systems allow fleet managers to take a proactive approach to maintenance and get real-time information on vehicle mileage, maintenance schedule alerts, and more. It's an affordable way to run a well-maintained vehicle and prevent costly repairs later.
- Actionable data insights
Taking a lot of data and gaining insight into what it means, then taking action is at the heart of effective fleet management. This will always be an ongoing trend, likeCartrackSuch a software platform is dedicated to providing the best insights through advanced telematics.
At the same time, cloud technology is needed to store, process, and process large amounts of data. With the cloud, fleet owners can access data anytime, anywhere.
Historical data can also be extracted from the platform to analyze various business tasks.
Ultimately, this data is used to make actionable decisions to streamline processes and ensure the business is always up to speed.
- Remote fleet managementSince the global pandemic, the way we conduct business and work culture has changed. With the demands of day-to-day operations, fleet managers are always looking for ways to make their lives easier.
The remote-friendly system gives them the flexibility they need to master the activity remotely.
For example, software platforms allow managers to communicate with drivers in real time and manage their fleets through apps on computers or mobile phones.
They can check the delivery status anytime, anywhere and find the location of their fleet and drivers.
- Data security
The reliance on technology and data transmission makes vehicles more vulnerable to hacking and cyberattacks.
As cyberattacks increase, fleet owners will need to ensure that their sensitive data is protected. In 2022 and beyond, they will need to install devices and software from trusted brands like Cartrack.
Training employees on safety measures to improve fleet safety is also an ongoing trend.
- Optimize fleet safety
Advanced fleet safety measures will always be one of the top priorities for fleet managers. They seek appropriate technology that will give them insight into implementationDrive safelyMethods, prevention of vehicle theft, avoidance of accidents, etc. AI camera technology solutions are also on the rise, as fleet managers use high-camera systems to monitor and ensure the safety of drivers, fleets, and cargo. Onboard based on artificial intelligencecameraUsed to identify dangerous driving and can alert drivers to potential safety violations so they can correct them immediately.
- Electric vehicle
EV (ELECTRIC VEHICLE) SALES INCREASED IN 2021, AND THIS TREND HAS NOT GROWN FURTHER. EV COMPANIES ARE LOOKING FOR WAYS TO MAKE COMMUNICATION AND DATA SHARING EASIER WITH FLEET SOFTWARE. THESE VEHICLES ALSO OFFER LOWER PREVENTATIVE MAINTENANCE, EMISSIONS, AND FUEL COSTS, SO THERE'S NO DOUBT THAT COMPANIES WILL CONSIDER THESE IN THE NEAR FUTURE.
- Telematics traces
GPS telematics tracking isn't going away anytime soon. Real-time tracking and diagnostics make it easy for companies to track drivers' location and driving habits and provide additional data insights that benefit the entire fleet.
With the development of technology, the telematics industry will also grow exponentially.
WITH THE DEVELOPMENT OF TECHNOLOGIES SUCH AS SYSTEMS, HARDWARE, SOFTWARE, AND 5G CAPABILITIES, BUSINESSES CAN MORE EFFECTIVELY MEET THE NEEDS OF THEIR CUSTOMERS.
By embracing new trends, it will provide fleet owners with a competitive advantage and master every aspect of their fleet with meaningful telematics insights.
Chat with Cartrack today for the latest software solutions to keep you informed of vehicle telematics trends in 2022 and beyond.