It is estimated that by 2023, 50% of product-centric businesses will have invested in real-time transportation visibility platforms. In addition, with the continuous invention of new digital technologies, vehicle manufacturers are equipping their vehicles with advanced connectivity and user technology services.
The use of application programming interfaces and software development kits has increased the use of telematics through integration with other business systems, namely maintenance, route planning, safety compliance and risk management.
Let’s discuss the top telematics trends that will take center stage in 2022.
1. Remote fleet management
Due to the ongoing COVID-19 pandemic, it has become difficult to rely on a static monitoring system within a fast-paced fleet operation that has to meet increased demands. This is where remote fleet management comes into play. Fleet managers are seeking new and innovative ways to monitor the productivity of their fleet and manage tasks from a distance.
More businesses now rely on remote monitoring technology to keep abreast with various activities. The advancement of telematics software allows fleet managers to communicate in real-time with drivers and manage their fleets from a computer or via an app on their phones. It makes it easier to check on the status of vehicles, locate assets and be alerted to unexpected events in real-time, no matter where a manager or supervisor might be situated in the moment.
This software’s accessibility, reliability, and convenience will further drive the remote working culture in 2022.
2. Evolution of the 5G network
One of the top trends for this year will be 5G fleet management. In comparison to 4G, 5G provides fast network speeds, increased capacity, and extremely low latency.
These features will translate into smoother Vehicle-to-Everything (V2X) communication, enhanced predictive analytics, and more innovative vehicle tracking and data collection on a fleet management level. In addition, 5G is the catalyst for even greater innovations, namely augmented reality fleet application and advanced charging technology for Electric Vehicles (EVs).
The demand for transparent data and remote fleet management is inextricably linked to the need for a more robust network. Therefore, a 5G-centric approach would be a good start for businesses looking to fulfil increased expectations for real-time information updates and provide a seamless fleet management experience.
3. Optimized safety
In any fleet operation, safety is one of the central points of concern. Different, more advanced techniques are now being introduced to prevent accidents and vehicle theft. Driver behavior and identification, alarm systems, geofencing, to name a few, are all features that guarantee fleet safety.
Modern monitoring systems provide real-time notification about different activities, helping fleet managers to receive updates every minute and enabling them to respond to emergencies quickly. With insightful reports, fleet managers can identify deficiencies in their operations related to safety and rectify them.
4. Deeper data security
Data is at the core of any fleet operation, and fleets hold a significant amount of sensitive data that needs to be protected. Thus, increased cybersecurity measures will be another big focus this year, with an integrated database becoming a popular trend in vehicle telematics.
Additionally, there will be a shift towards strategic management from tactical management, including upskilling in IT for the adoption of new roles.
5. Mobility-as-a-Service (MaaS) to become prominent
Mobility-as-a-Service (MaaS) is expected to grow in popularity as it allows fleet managers to customize their services and shift away from the traditional approach. MaaS will assist fleet managers in rethinking their fleet management process, and by embracing vehicle sharing, they can better utilize idle vehicles, control budgets, and reduce their carbon footprint.
Additionally, key fleet metrics will also evolve, shifting from vehicle numbers and data to factors such as timing, journey success rates, attendance rates and annual cost.
6. Stronger focus on telematics tracking
Even though tracking has always been an integral part of telematics, fleet managers are now using GPS technology to assess real-time diagnostic levels. It allows them to track their driver’s location via a customizable dashboard, know their vehicles’ status, and ensure drivers follow safety practices.
Fleet management software will improve in 2022 with features such as the integration of voice capabilities, robust data analytics and enhanced Artificial Intelligence (AI). Furthermore, in-cab video has emerged as one of the most popular new fleet management solutions.
7. The rise of Internet of Things (IoT)
One of the most popular trends in telematics is the Internet of Things (IoT). It enables the re-engineering of the entire supply chain process through intelligently connecting the physical world (people, devices, and sensors) with the digital world (processes, data devices and sensors). Thus, creating a layer called “infostructure”.
Advanced IoT solutions, such as fleet tracking software, allow every aspect of the operations to be managed efficiently through continuous measurement, collection, and exchange of real-time data. As a result, it provides visibility into every process and transaction within the chain, facilitating improvement to be identified and actioned directly and rapidly.
The future ahead
In 2022, GPS and telematics developments will continue to expand and advance, improving the management and efficiency of businesses with a fleet of vehicles. However, one of the main challenges will be securing the growing amount of data from internal and external sensors. As a result, there is an increasing need for future telematics solutions that focus on data security, in-vehicle telematics, and GPS tracking systems.
Embracing new trends will assist decision-makers to remain competitive and keep track of their vehicles to improve efficiency, driver performance and offer real-time updates to customers. In addition, the success of any business that uses vehicles in its core operations in the future will need continuous development in gathering meaningful information from vehicles and drivers in larger volumes.
As with technology, there are continuous improvements in the system, hardware, software, and infrastructure, such as satellite systems and the power of 5G. This technology will evolve in the future to use 5G to provide more accurate information both from a safety and economic perspective, creating an even more meaningful contribution to the world of business.
Source: Market Screener