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The top 5 emerging fleet management software trends for 2024
After using software, fleet management companies gave powerful insights in the 2024 Fleet Technology Trends survey.
Read moreFleet management technology is shaping the future of fleet-based business.
This technology can help streamline processes, transforming fleet performance insights into actionable triggers to improve business operations. In fact, according to our Fleet Technology Trends Survey in Australia and New Zealand, 82% of fleet managers using fleet management software rated it as “extremely or very beneficial” when it came to managing their fleets.
We surveyed a total of 371 fleet managers, mobility professionals and business owners for the Verizon Connect 2024 Fleet Technology Trends study. The respondents shared powerful insights and future trends that businesses can discover to transform their fleet operations.
Software for fleet management has made many trends possible that are going to shape the future of fleet-based businesses. Let’s dive into them:
Trend #1: Fleet management is key to reducing costs
Fleet managers rely on the use of fleet management software to help reduce daily operating costs. Insights on fuel consumption, distance travelled, and increased fuel consumption related to speeding are used as real-time triggers that can help reduce fleet costs.
In fact, our latest Fleet Technology Trends Report in Australia and New Zealand showed that 73% of fleet managers and mobility professionals found fleet management software to be “extremely or very beneficial” in reducing their fleet costs.
According to our survey across all industries, GPS tracking users decreased:
- Accidents costs by an average of 17%
- Insurance costs by an average of 17%
- Labour costs by an average of 16%
- Vehicle maintenance costs by an average of 16%
- Fuel costs by an average of 15%
Download the Fleet Technology Trends Report in Australia and New Zealand 2024 to learn more about how fleet management software can help businesses like yours to improve fleet operations. This is all while reducing costs and contributing to a healthy bottom line.
Trend #2: The number of electric vehicles (EVs) is increasing slowly, yet steadily
Electric and hybrid vehicles are starting to become a potential alternative to traditional petrol and diesel vehicles.
A greater number of vehicle fleets are starting to incorporate electric vehicles. In fact, according to our latest Fleet Technology Trends Report in Australia and New Zealand, 50% of fleets in Australia and 44% in New Zealand already include electric vehicles.
Additionally, our survey revealed that 35% of fleets in Australia and 29% in New Zealand plan to boost the electrification of their fleets in the next 3 to 5 years.
On the other hand, several concerns could arise as a result of increased electric vehicle sales including:
- Higher prices of electric vehicles compared with diesel or petrol ones.
- Lack of network infrastructure for charging points.
- Low autonomy of electric vehicles.
However, once these problems are mitigated such as the reduction in high prices, improvement in charging points map and range, it is possible that electric vehicle sales will increase even further in the coming years.
Trend #3: Asset tracking is key to improving equipment and trailer utilisation
One of the biggest challenges that fleet managers face is making greater use of their available resources and asset tracking technology.
For example, in the construction industry, most of the machinery is leased. This uses a lot of fuel and the machinery spends long periods of time idling. For instances such as this, good resource management is key.
Asset tracking in the construction industry will help identify idling time that increases fuel consumption, enabling you to coach your team to avoid this practice. In short, you can track all your assets and see which ones are in use, and which ones are free for the next task. This allows you to achieve a continuous workflow to get more out of your resources.
Furthermore, our latest Fleet Technology Trends Survey in Australia and New Zealand shows that 68% of respondents improved equipment and asset utilisation when implementing a fleet management solution.
Trend #4: GPS is the most used fleet technology to transform fleet operations and get results
A fleet management solution comes with many benefits.
This includes tracking vehicles and providing fleet performance data, so fleet managers and business owners can use these insights to help reduce costs, increase productivity and stay on top of vehicle maintenance.
Moreover, the Fleet Technology Trends Report reveals that GPS tracking is, for the third year in a row, the top fleet management technology that is most utilised in Australia and New Zealand. Mostly, because business owners trust fleet management technologies to get results.
According to our survey, the majority of businesses saw major improvements since implementing a GPS tracking solution including:
- 55% Improved customer service
- 54% Improved EWD/regulatory compliance
- 50% Improved routing
- 49% Improved productivity
- 51% Decreased fuel consumption
- 42% Decreased accidents
- 36% Improved vehicle maintenance
- 28% Decreased labour costs
- 32% Improved fuel tax credit claim
- 40% Reduced CO2 emissions
- 22% Improved safety
- 31% Improved managing daily operations
- 28% Improved sustainability
- 35% Improved efficiency
The 2024 Fleet Technology Trends Report in Australia and New Zealand uncovers even more ways fleets are using technology to overcome business challenges, achieve their goals, improve operating efficiency and drive down costs.
Download the new 2024 Fleet Technology Trends Report in Australia and New Zealand.