The Rise and Benefit of Fleet Management Technology

We live in the age of technology. Our realities are incepted by digital realities, and information is spread more quickly and malignantly than humanly possible. In the past few decades, technology has been emulsified into every sector of our lives, especially our business structures. It is a crutch to every process we take part in. It has radically altered how we carry out every business practice and day-to-day endeavor. However, some sectors lag. The transportation industry, ironically, has taken the scenic route to new-age technology integration, but fleet management and operations are beginning to accept the widespread adoption of new software and solutions. Today’s automation tools and telematics are creating a new world for management and business operations entirely.

Growth and Outgrowing

As businesses evolved and fleet sizes have grown, they have simultaneously outgrown the antiquated role of the fleet manager and manual processes. Organizations across the board can’t function based on only spreadsheets and paper forms. Fleet management has become nuanced, and the skill sets necessary have become more difficult. Now, the job goes beyond managing vehicles – it includes managing vendor relationships, tracking procurement budgets, optimizing expenses, conducting employee training, and more. All these facets involve ever-changing information and data that can be updated and communicated in real time via new-age solutions. As Winston Churchill said, “To improve is to change…”

Innovation, Integration, and Demand

The late 20th century began the slow and steady adaptation of technological solutions in fleet management rooted in automotive manufacturing. During this time, innovations such as desktop computing, basic telematics, and GPS technology began to emerge and become widely accessible. In this, the framework was laid for business fleet management technologies to start booming in the 21st century.

In all areas, technology is maximizing the efficiency of business. To keep up, the transportation industry is parading into the era of digitization. While many fleets are still relying on traditional processes, current trends point to the expansion of the global fleet software market. In 2021, the market was valued at $18.20 billion and is projected to grow to $67.38 billion by 2029, despite its staggering growth during the global COVID-19 pandemic. Today, fleet managers of all sizes are turning to technological solutions to assist in operations across the board, including managing vehicles, schedules, budgets, and all other information business-wide.

Benefits of Fleet Management Technology

The integration of technological solutions provides countless benefits to the transportation industry and automotive management. Because of its scalability and customizability, supportive fleet management technology allows for business operations to be completed on a new level of transparency and efficiency. The deployment and interoperability of artificial intelligence, machine learning, GPS, and data analytics pave the road for unprecedented, real-time fleet insights. Further, the combination of IoT-powered telematics and GPS technologies allows operators to track and forecast data. This will increase vehicle lifespan, improve safety, reduce costs, and ultimately, increase customer satisfaction.

Technology will continue to evolve and the demand for solutions will continue to rise. With the right technology implementation, organizations can optimize their fleet management and overall business structure. Learn how Routr’s solutions can maximize fleet efficiency at industry-leading costs.