How Does IoT Impact Fleet Operations?

 The IoT industry is on a boom globally. Despite the pandemic, it has seen considerable growth. According to a report by Fortune Business Insights, the IoT market size will increase from USD 308.97 billion (2020) to USD 381.30 billion in 2021. According to some estimates, this value can reach up to USD 1,854.76 billion in 2028. This trend indicates the thriving popularity of IoT in various industries. 

 

IoT solutions bring automation to operations and help businesses make data-driven decisions. Due to this reason, various industries, from healthcare to transportation, are deploying IoT-based solutions to run efficient operations. The impact of IoT on fleet business has been revolutionary with the invention of fleet management software. Here we will discuss it in detail.

Role of IoT in Fleet Management:

IoT-based vehicle tracking software play a vital role in fleet operations. They help businesses to achieve complete control of operations for elevating efficiency. Let us look into it in detail.  

Eco-driving:

Longer engine hours mean more damage to the environment. Similarly, harsh acceleration and braking also cause pollution. Therefore, it is essential to achieve better productivity and driving efficiency, and that is where IoT comes into play.  

With IoT, you can monitor driver behavior in real-time. From speed to brakes and turns, you can keep everything under check. You can also watch the idling time of the vehicles during trips. The availability of real-time notifications helps to keep up with the latest updates. In case of rash driving, you immediately get the alert enabling instant accountability.

Automation:

IoT has brought automation in fleet operations by facilitating different aspects. For example, the record-keeping of vehicles and drivers can be conducted through IoT-based fleet management software. Similarly, trip management can be done much efficiently with lesser chances of personal errors. It removes the paperwork and helps in the faster processing of tasks.

Fuel Efficiency:

High fuel consumption is an issue for every transportation business. IoT helps achieve better fuel efficiency with real-time alerts on leakage or drainage. Similarly, route optimization allows drivers to be prepared about the road condition enabling them to take timely turns. It helps them reach the destination faster and preserve fuel. Driver monitoring also helps in achieving fuel-efficient driving. 

Preventive Maintenance:

Managers pay a lot of focus to maintenance. They have to look after a large number of vehicles which can be a daunting task at times. However, IoT solves that issue with anticipation of service and repair tasks. An IoT-based fleet management software fetches vehicle diagnostics to identify the parts that require maintenance. You can also set notifications for various tasks so that they are performed timely.

Analytics:

Reporting and analytics are essential for monitoring the efficiency of operations. IoT allows the data transmission in real-time, and this data is stored by the tracking software for analysis. Modern monitoring solutions enable users to select the customized time limit to generate reports. Moreover, with the insightful dashboard displaying real-time data, a manager can make smart data-driven decisions. 

Safety:

Safety is the prime concern for any business, and fleet operations are no different. Whether you talk about preventing accidents or theft, there is a lot to consider for managers. IoT enables foolproof safety through alarm systems, driver identification, driver behavior monitoring, etc.  

IoT-based fleet management software informs you about the need for service and repair through notifications. Preventive maintenance ensures that the vehicles remain in good condition and help prevent the probability of accidents.

Benefits:

 

• Running efficient operations with better control and lesser probability of mistakes. 
• Meeting compliance related to environmental and safety rules. 
• Enhancing fuel efficiency with the help of driver monitoring, vehicle maintenance, and route optimization. 
• Ensuring foolproof safety by preventing crashes, theft, and other emergencies. 
• Maintaining vehicles efficiently helps enhance their sustainability.  
• Improving the efficiency of processes, achieving better productivity and profitability.
• Better planning and strategy-making with the help of insightful reporting and analytics. 
• Achieving client satisfaction with better service quality. 

Takeaway:

IoT appeared to be a far-fetched idea when it first emerged. However, now its applications are widespread, ranging from security solutions to fleet management software. IoT-based monitoring solutions are helping businesses globally to achieve better control over fleet operations. With new advancements in IoT, its impact on the fleet industry will increase in the future.