October 27, 2017
Before we jump into the benefits of IOT in fleet management let’s discuss what’s IOT and why they are going to be next big thing?
According to Business Insider, by the end of 2020 24 billion internet connected device will be active around the globe.
Far-seeing the possibilities’ US government are planning to invest $8.8 Billon in the IOT market. The astonishing part about this investment is that previous year it was just around $1.1 Billion.
Since IOT is spreading like wildfire isn’t it obvious that it’s going to have a deep-rooted impact on each and every aspects of our day-to-day life?
The story is exactly the same when it comes to transportation and business related to it.
Let’s dig deep
Precisely, IOT is the connection of your physical device to the internet. A physical device can be anything, computers, Smartphone’s, wearables, tablets, TV, kitchen equipment etc., literally it can be anything that’s confined to the digital world.
In short, these devices are exchanging data back and forth seamlessly so that they keep connected 24×7.
WHO has released a shocking report on May 2017. According to the report, around 1.25 million people die each year owing to accidents.
The report clearly indicated that speeding is one of the major causes of accidents globally. However, it is true that speeding is entirely a personal choice. What IOT can do in this situation is that it can monitor as well as notify a driver upon his erratic behaviour through connected transportation.
Quite simply, connected transportation means WIFI and other sensor-enabled vehicles that can exchange data with the internet.
By connecting a vehicle to the internet, issues such as bad weather, traffic congestion, and bad route can be foreseen in advance.
Above all, this kind of smart transportation initiatives can help create safer roads, lesser accidents and save a lot of money.
In the case of fleet business, since all the vehicles are connected, they will be secure, predictive as well as cost-effective.
To get an exact idea about how powerful IOT is going to be, Gartner has recently released a report in which they have estimated that by the end of 2020 quarter of billion cars will be connected.
Coming back to fleet management, IOT‘s use can’t be restricted to just tracking.
Their top 5 uses include,
Drivers tend to stop the fleet vehicle multiple times causing disruption in the proposed time schedule. During these stops, they tend not to turn off their vehicle in fear of malfunction.
Another scenario is that drivers sometimes drive in a reckless manner causing potential danger to the passengers.
BY installing a fleet management solution which supports IOT, all these behaviours can
Be monitored, that too continuously.
Idling (not stopping the engine when the vehicle is at a short halt) is a menace when it comes to fleet business. They are often considered as not dangerous and left alone. However, researchers have found out that over a billion gallon of diesel is being wasted globally because of vehicle idling and more than 10 million ton of greenhouse gas is pumped into our atmosphere owing to it.
By using a Transportation Management solution idling time can be closely monitored and notification can be given to the driver in real-time.
With proper hardware installation, a fleet management system which is connected to the IOT can closely monitor engine and other parts which are subjected to wear and tear. For instance, imagine that your car battery level is low or engine is performing in an erratic way. A fleet management system can graph out this behaviour and compare it to the normal behaviour of your vehicle parts. If there is any irregularity, authorized personals can be informed, thus saving a vehicle from grave damages.
Data have always had godly power in our lives. In the case of a fleet, an enormous amount of data is sent to a vehicle management system with the help of IOT. This enormous quantity of data can be processed using the software-hardware system and come up with magnificent results that will assure efficiency of your fleet.
Primary motto of any business would be to earn the profit. Same is the story in the case of a fleet business. However, there are certain factors which make fleet business risky. The most dangerous one would be the fuel consumption.
A fleet management system can track as well as compare data so that fuel can be saved. Prompting tax payment, notifying proper maintenance schedule, comparing expenditure etc. also helps a lot in saving money.