Geotab Geotab ”), a connected transportation solutions company, announced the release of “Leading the Journey: Accelerating ROI Through Data-Driven Insights,” its second report on commercial transportation. Expanded to include a global analysis, this edition covers trends and valuable insights into the evolving landscape and provides essential information to address challenges and leverage the sector's potential.
The 2024 edition highlights the crucial role of advanced telematics in optimizing fleet operations. By leveraging 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 report's findings also reinforce that sustainability initiatives aimed at reducing fuel consumption are crucial, as fuel costs account for approximately 60% of total fleet operating costs. See below for key insights and trends.
Security:
- In 2023, fleets using Geotab's safety features showed a 40% reduction in collision rates compared to those that did not.
- 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.
- During this period, vehicles in Brazilian fleets connected to Geotab increased the total kilometers traveled before a collision by 4%. This suggests an improvement in fleet safety, as vehicles are able to travel a greater 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. Germany (-27%), Portugal (-30%), the United Kingdom (-19%) and the United States (-12.6%) registered a reduction in this distance, indicating the need for greater focus on safety measures.
Sustainability and fuel use:
- Analyzing Geotab's clients globally, the data suggests that fleets should focus on reducing engine idling time, as it significantly contributes to fuel waste and CO2 emissions.
- Canada and the United States successfully reduced vehicle idling time with engines running from 2022 to 2023, with decreases of 5.73% and 3.75%, respectively.
- Germany, the United Kingdom, and Mexico, on the other hand, recorded an increase in the time vehicles were idling with their engines running during the same period, indicating an opportunity to further optimize this area.
- Regarding electric vehicles (EVs), Geotab provides data support for a variety of manufacturers (OEMs) and over 300 models. Geotab identified in its report that, from 2022 to 2023, adoption increased globally:
- Stronger growth in South Africa (796%); Peru (289%); Mexico (248%) and Brazil (173%), indicating a strong push for the adoption of EVs in these regions.
- The research also reveals that, in 2023, there was an 8.5% reduction in the intensity of emissions (kg CO2/kilometer) in all heavy-duty vehicles.
- And, according to the report, proper vehicle maintenance, reinforced by predictive analytics, not only ensures the safe and efficient operation of a fleet, but can also improve fuel economy by 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 sector is strong and continues to grow. It is expected to reach US$172.4 billion by 2032, demonstrating an incredible 17% growth between 2023 and 2032. The report highlights trends that demonstrate the fundamental role data and AI will play in driving performance, efficiency, profitability, and sustainability in the transportation sector in the coming months. Amidst complex economic, environmental, and technological transformations, Geotab is committed to providing 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/ .
