Asset tracking helps strengthen the construction industry

The potential of GPS asset tracking in the construction industry

The construction sector is one of the most vital industries in the UK economy, with over 2.9 million people employed across more than 280,000 businesses (1). In fact, it contributes almost £90 billion to the UK economy. 

And, 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 Climate Change Act 2008 is the UK’s approach to reducing emissions and preparing for environmental change. It set a statutory target to reduce UK Greenhouse Gas (GHG) Emissions by at least 80 % (against 1990 levels) by 2050. Stating that the construction industry is a priority sector for reducing carbon emissions in this context. (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 can 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 Advanced Fleet Management Technology for the Construction Industry 2023 eBrief and learn more about how this tech can help you and your business.

Sources:

• https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/datasets/constructionstatisticsannualtables
• https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/229339/construction-sector-infographic.pdf
• https://www.gov.uk/government/case-studies/net-zero-programme-looking-beyond-carbon-emissions