Fleet Telematics Companies
Three trends in fleet telematics are increased video telematics, increased trailer monitoring, and the switch to prognostic approaches as opposed to diagnostic approaches.
- Video telematics, or having a telematics system equipped with video footage of the driver, is growing in popularity. Specifically, video telematics "combines vehicle data and driving data to provide more context around any incident footage while transmitting the video evidence in real-time over a cellular network."
- The trend is being driven by the increased need for improved driver monitoring and safety and decreased company liability. Additionally, the technology necessary for video telematics is beginning to be more widely available.
- Clem Driscoll, founder and principal of C.J. Driscoll & Associates, a market research firm focused on fleet telematics, stated: "Video is a growing interest to a lot of different fleet segments. It’s really a way, if there’s an accident, to find out what really happened. Or if a driver is speeding a lot or making hard turns and braking all the time, the company wants to know that because he may be a greater risk. The majority of fleets are not using it yet, but that probably will change in the next few years."
- Trailer monitoring and the creation of "smart" trailers is growing. This is when the trailer, and not just the truck cab, is equipped with sensors that monitor the wheels, axles and cargo.
- This is being driven by new technology, like IoT technology, and the need for better asset management to reduce overall costs.
- Clem Driscoll, founder and principal of C.J. Driscoll & Associates, a market research firm focused on fleet telematics, stated: "Trailer monitoring solutions have been around for a long time, but the market penetration is still considerably lower than for in-cab solutions. It’s growing now, and the number of sensors that can be monitored on a trailer is increasing. Some of the trailer manufacturers are introducing or will be introducing what they call smart trailer solutions, where they are building sensors into the trailers from the start. I think it’s really kind of a logical extension to the fact that fleet telematics in the trucking sector are widely used for monitoring things in the cab, the engine, the driver etc. A large list of things are being monitored, so what about the trailer? There are things that go wrong with wheels, tires, axles and what about the cargo? You can get video to monitor the load. To see if it’s moving around when it shouldn’t be, or, monitoring the temperature if it’s a perishable load. There are clear benefits to monitoring a lot of these things especially as the costs of sensors and other technology comes down and the awareness of the overall potential benefits of this technology grows. Why not?"
- Fleet telematics is shifting from diagnostic approaches to problems that have already occurred to prognostic approaches to anticipate and prevent problems from happening.
- This is being driven by new technologies like big data analytics, IoT and machine learning. The use of this approach is being driven by increased need for safety and efficiency.
- Squarell Technology is one such company offering predictive maintenance solutions using vehicle data.
Trends were determined based on their mention by multiple publications and the ability to find an expert discussing the trend or a company illustrating the trend.