Tech-powered automotive logistics, predictive maintenance, and telematics are a few of the industry trends that fleet managers should know about heading into 2024. - Photo: Automotive Fleet

Tech-powered automotive logistics, predictive maintenance, and telematics are a few of the industry trends that fleet managers should know about heading into 2024.

Photo: Automotive Fleet

Fleet management is an ever-evolving industry with new tools, techniques, and technologies always emerging—all requiring new strategies for success. These latest trends provide insight into everything you need to know to stay one step ahead of your competitors. 

1. Growth in Predictive Maintenance

Predictive maintenance offers several benefits to your operation. For instance, it uses real-time data and analytics to predict when maintenance will be necessary, allowing for proactive repairs, minimizing downtime, and reducing costs associated with emergency situations.

Some companies have already implemented predictive maintenance in their fleet management systems, resulting in decreased maintenance costs and increased vehicle uptime.

2. Tech-Powered Automotive Logistics 

With the global fleet management market size anticipated to reach $52.4 billion by 2027, according to Markets and Markets, there’s an increasing reliance on automotive logistics and the role that technological innovations play in its efficiency. 

As supply disruptions seem inevitable, a key component of a successful fleet management operation is a progressive auto transport partner. With an increasing need for visibility in the car shipping process, tech-forward 3PLs are providing real-time visibility and tracking in their transportation management systems. This allows you to effectively manage inventory rotation by tracking your vehicles in transit, in real-time.

3. Increase in Fleet Telematics 

Telematics can help you overcome operational challenges by enhancing reports and using data and analytics to handle issues. Moreover, you can use information from onboard sensors, GPS tracking, and more to gain a comprehensive view of a vehicle’s performance and health, in addition to tracking driver behavior and improving route optimization.

4. Mobility-as-a-Service (MaaS) Growth

As Mobility-as-a-Service (MaaS) is projected to grow 23.3% by 2030, according to Markets and Markets, fleet owners are exploring new avenues with company-owned vehicles, including leasing options. MaaS encourages re-evaluating fleet management processes to allow for the adoption of vehicle-sharing strategies.

This results in more efficient use of idle cars, better budget control, and a reduced carbon footprint. Additionally, key fleet metrics will transform, shifting focus from vehicle quantities and data to timing, journey success rates, attendance rates, and yearly expenses.

5. Greater Focus on Safety 

Long hours on the road increase the risk of driver fatigue or distractions. Consequently, fleet management companies are combating these safety risks by rewarding safe driving practices and fostering a culture of safety. By using technology, you can identify areas of improvement and provide feedback and coaching to your drivers. 

Vehicle upkeep is also critical to safety. By regularly maintaining and inspecting each vehicle, your drivers can identify potential safety hazards and address the need for repairs before vehicles hit the road. 

6. Upskilling Technicians 

Upskilling your fleet technicians helps minimize costs associated with recruiting and retaining skilled employees and the need for costly repairs due to outdated or incorrect maintenance practices. By investing in the right training, you can ensure technicians are up to date on industry changes and best practices, helping improve service quality, increase efficiency, and reduce downtime.

Furthermore, ensuring your technicians have the skill set to repair and maintain EVs is essential as fleets shift towards electric vehicles. As more EVs enter the market, the industry faces a shortage of skilled technicians. According to the Bureau of Labor Statistics, the United States will need around 80,000 electrician jobs through 2031. This includes technicians to install and repair electric vehicles and EV chargers. 

7. Increasing Fleet Electrification 

As government regulations have pushed automakers towards selling zero-emissions vehicles by 2030, many fleet operators are transitioning to EVs and slowly phasing out standard internal combustion engine (ICE) vehicles to reduce their carbon footprint. For example, rental car giant, Hertz, is converting to EVs and currently has 50,000 electric vehicles in its fleet. 

The future of fleet management is evolving with advancements in technology. By leveraging predictive maintenance, embracing fleet electrification, increasing the use of telematics, and more, these trends will help you stay ahead of the curve and ensure optimal performance and cost efficiency.

Photo: Montway Auto Transport

Photo: Montway Auto Transport

About the Author:

Mike Trudeau is the Executive Vice President of Business Development at Montway Auto Transport, one of the nation’s leading third-party auto logistics providers. Committed to service excellence, Montway provides tech-forward auto shipping solutions to fleet management and rental car companies.

Originally posted on Automotive Fleet