A Geotab Inc, (“Geotab”), a connected transportation solutions company, announced the launch of “Leading the journey: accelerating ROI through data-driven insights”, its second report on commercial transportation.Enlarged for global analysis, this edition covers valuable trends and insights into the evolving landscape and provides critical insights to address challenges and harness the potential of the industry.
The 2024 edition highlights the key role of advanced telematics in optimizing fleet operations.By harnessing data intelligence and AI models, large commercial fleets can enhance safety measures, improve productivity and reduce costs amid rising fuel prices, regulatory changes and economic uncertainties.
The findings of the report also reinforce that sustainability initiatives aimed at reducing fuel consumption are key, as fuel costs reach around 60% of total fleet operating costs.
Security:
- In 2023, fleets using Geotab's security features experienced a 40% reduction in collision rates compared to those not using.
- Based on this difference, it is estimated that more than 3,500 collisions could have been avoided in 2023 if more vehicles had adopted safety features.
- In this period, vehicles from fleets in Brazil connected to Geotab increased by 4% the total number of kilometers traveled before a collision. This suggests an improvement in fleet safety, as vehicles are managing to travel a longer distance before being involved in an accident.
- Among the countries surveyed, Brazil (4%), Italy (5.3%) and Spain (5.7%) had the most significant increases in kilometers driven before a collision. Already Germany (-27%), Portugal (-30%), United Kingdom (-19%) and United States (-12.6%) recorded a reduction in this distance, which indicates the need for greater focus on security actions.
Sustainability and fuel use:
- Looking at Geotab customers globally, the data suggests that fleets should focus on reducing engine-on downtime as it contributes significantly to fuel waste and CO2 emissions.
- Canada and the United States successfully reduced downtime for powered vehicles from 2022 to 2023, with decreases of 5.73% and 3.75%, respectively.
- Germany, the United Kingdom and Mexico saw an increase in engine-powered downtime over the same period, indicating an opportunity to further optimise this area.
- Regarding electric vehicles (EVs), Geotab offers data support for a variety of manufacturers (OEMs) and more than 300 models.Geotab identified in its report that from 2022 to 2023, adoption has increased globally:
- Stronger growth in South Africa (796%); Peru (289%); Mexico (248%) and Brazil (173%), indicating a strong stimulus for EV adoption in these regions.
- The survey also reveals that in 2023, there was an 8.5% reduction in emissions intensity (kg CO2/kilometer) in all heavy-duty vehicles.
- And according to the report, proper vehicle maintenance, enhanced by predictive analytics, not only ensures the safe and efficient operation of a fleet, but also can improve fuel economy in 5% to 10% for Class 8 trucks, which also contributes to vehicle reliability and increases driver safety and satisfaction.
“The transformative potential of connected vehicles and the power of reliable data are clear”, said Mike Branch, vice president of data and analytics at Geotab.“Our study provides valuable insights into the dynamic landscape of the transportation industry.As companies strive to adapt to evolving market conditions and adopt sustainable practices, Geotab remains committed to empowering them with data-driven tools and the recommendations needed to thrive in an increasingly complex environment”
The global telematics industry is strong and continues to grow. It is expected to reach US$ 172.4 billion by 2032, demonstrating incredible growth of 17% between 2023 and 2032. The report highlights trends demonstrating the key role data and AI will play in driving performance, efficiency, profitability and sustainability in the transportation sector in the coming months. Amid complex economic, environmental and technological transformations, Geotab is committed to insights that empower companies to make informed decisions.
The full research report is available at: https://www.geotab.com/pt-br/relatorio-sobre-transporte-comercial2024/.
