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Read moreThe potential of GPS asset tracking in the construction industry
The construction industry in Europe represents one of the most important industries for the economy employing more than 24.9 million people and is affected by the current situation in which the global economy is reeling from the largest energy crisis since the 1970s (1).
However, the good news is, in our new Advanced Fleet Management Technology for the Construction Industry 2023 eBrief we're sharing crucial information that can help transform the sector. Find out how you can leverage the latest fleet management technologies, like asset tracking, to help improve efficiency and profitability within your operations.
How can a GPS asset tracking solution help the construction industry?
#1 Boost equipment and trailer utilisation for construction
Businesses in the construction industry encounter a host of daily challenges, such as selecting the right type of machinery, which can significantly impact the success of a project. Equipment costs are also a crucial factor, making it imperative to optimise their usage for greater cost-effectiveness. With asset tracking technology construction companies can look to achieve efficient utilisation of their equipment and boost profitability.
According to our latest Fleet Technology Trends Report in Europe 75% of survey respondents that implemented an asset tracking solution improved equipment and trailer utilisation.
Equipment and trailer thefts are a common and costly problem for fleets, making it essential to take a thoughtful approach to addressing this issue. Fortunately, fleet technology provides a powerful solution. By utilising GPS asset tracking software, fleets can significantly reduce the risk of theft and loss:
- Monitor equipment hours and utilisation reports
- Reduce downtime of your equipment and assets
- Find your assets and reallocate when needed
- Enhance workflows to promote getting more out of every workday
#2: Improve the security of your businesses in the construction industry
Construction plant machinery and equipment theft is a real problem in the construction industry.
GPS fleet tracking solutions offer significant benefits for businesses looking to improve key areas of their operations. By gaining near real-time insights into your fleet's performance, you can make data-driven decisions and address daily challenges with confidence. Using smart data and powerful business intelligence tools like GPS vehicle tracking can also help you optimise your business.
Among GPS users in the construction industry, 73% improved the security of assets and equipment. With this technology in place you can:
- Monitor near real-time asset locations and stay in control of valuable assets
- Programme geofence alerts that create a virtual perimeter around your assets and know when they move
- Receive near real-time movement alerts that can help recover your valuable assets quickly
Discover the full range of benefits achieved by construction businesses who have implemented a GPS asset tracking solution by downloading our Advanced Fleet Management Technology for the Construction Industry 2023 eBrief.
#3: The green transition of the construction industry
GPS asset tracking can help businesses in the construction industry to improve their strategic KPIs. In fact, 49% of respondents reduced their fuel consumption, which directly impacted their daily operational costs.
Reducing CO2 emissions is also more crucial than ever with 25% of respondents we surveyed stating they have already reduced theirs and are currently moving towards a greener business.
The commitment of the European Union to become climate-neutral by 2050 is implied by the European Green Deal (2). As part of this initiative, the construction industry has been identified as a priority sector for reducing carbon emissions (3).
So the construction industry has to reduce their greenhouse gas emissions (GHG) and position their business as part of the solution because customers are increasingly demanding environmentally friendly business practices. A GPS asset tracking solution could help your business to:
- Reduce CO2 emissions
- Reduce idling
- Reduce fuel consumption
- Monitor carbon footprint
Fleets are using GPS vehicle tracking to help improve their business while doing a better job of meeting customer demands and cutting costs as well. Download the and learn more about how this tech can help you and your business.
Sources:
(1)https://www.oecd-ilibrary.org/sites/f6da2159-en/index.html?itemId=/content/publication/f6da2159-en )
