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Key insights on fleet management for 2024

By Verizon Connect Team November 3, 2023

One of the most important insights that the 2024 Fleet Technology Trends Report Europe reveals is that GPS tracking solutions can make a difference for businesses in terms of regulatory compliance. In fact, fleet tracking solutions helped 69% of survey respondents stay compliant.

In the Fleet Technology Trends Survey conducted by ABI Research for Verizon Connect, results reveal that the number of fleets using GPS tracking technology in 2023 was 73%, an increase of 3% on the previous year. So for the third year in a row GPS tracking is the top technology most used in Europe among businesses that utilise fleet management solutions.

This report is based on a survey conducted by Verizon Connect in collaboration with ABI Research. A total of 1,538 fleet managers, executives and other mobile-business professionals in Europe in 8 countries (The UK, Ireland, France, Germany, Austria, Italy, Spain and Portugal) shared the results they achieved after the implementation and utilisation of fleet management technologies for their businesses.  

Nowadays, fluctuations in fuel prices have posed a major challenge to fleet operating costs and have required businesses to become more efficient on a day-to-day basis in order to maintain their long-term efficiency and profitability and contribute to a healthier bottom line. Technology can be one of the best allies for businesses to obtain these results and build resilience.

Let’s dive into the most used fleet management technologies that help businesses in Europe:

  • 73% GPS tracking
  • 52% Field Service Management (scheduling, dispatch, communication)
  • 49% In-cab video (including front-facing and driver-facing cameras)
  • 49% Asset/ Trailer/ Equipment tracking

Download your Fleet Technology Trends Report Europe and learn more about the most utilised fleet management technologies in all European countries.

Insights on GPS fleet tracking that will become trends

The Fleet Technology Trends Survey reveals some key insights from the results achieved by fleet managers and the direct impacts on their business’ daily operations, costs, fuel economy, ROI, challenges and more. These are some of the insights: 

  • Daily operations impact your efficiency: 76% of fleets using GPS fleet tracking software found it “very” or “extremely beneficial” to manage their fleets. From route optimisation, to remotely monitoring the operations, to sending the nearest technician to the next customer, all matter to promote efficient daily operations.
  • Fuel economy to raise the bar on efficiency: 53% of those implementing GPS fleet tracking have lowered their fuel consumption. Fuel efficiency is key for businesses to reduce operational costs. In this area, driver behaviour is crucial and fuel-efficient driving can help reduce fuel consumption by 20% to 25%.  
  • Fleet costs matter directly to your business: 60% of survey respondents who have a GPS tracking solution stated that it is “very” or “extremely” beneficial in reducing their fleet costs. The top 5 refers to fuel consumption, labour costs, accident costs, vehicle maintenance and insurance costs, and are crucial ones that impact business profitability.
  • The timeframe to get a positive ROI: Almost half (47%) of businesses across all industries achieved a positive return on investment (ROI) within 7 to 12 months.
  • The top 10 challenges of fleet managers: 69% rated increased costs as a top challenge in daily fleet operations followed by fuel, safety or meeting customer demands and expectations, among others, and fleet managers can have a proactive control on team, vehicles and operations thanks to this technology. 
  • Every business day, an opportunity to do it better: 59% of businesses improved productivity. Managing the daily operations with the use of a live map with near real-time insights, with route optimisation and with a clear overview of team, vehicles, drivers and assets available can help better manage the team’s work time. 
  • Customer-centric strategy pays off: 58% of survey respondents improved customer service. Offering an innovative and customer-centric approach can help improve customer loyalty and retention. 
  • Asset utilisation makes a difference in daily costs: 73% of companies that implemented asset tracking have seen improvement in utilisation. Having a clear overview of the assets’ hour activity, idling, stop duration, etc, can help make better use of assets, machinery, powered and unpowered assets. 
  • Businesses adopt smart video solutions to protect from false claims: 71% of those that have adopted video solutions have improved protection from false claims. (Only for the UK and Ireland).

Download your Fleet Technology Trends Report Europe and learn more about the key insights and trends on fleet management technologies that can benefit your business. 

How fleet management can help improve your business

GPS fleet tracking technology is key in helping to deliver results, and can help boost competitiveness and build resilience across industries. Business owners and fleet managers continue trusting in fleet management technologies that can help increase efficiency and reduce fleet costs. 

To learn more about how your peers view and value GPS fleet tracking technology, download the full 2024 Fleet Technology Trends Report Europe.

Verizon Connect Team

We drive a connected world in constant motion! We automate, optimise and revolutionise the way people, vehicles and things move around the world.

Tags: Cost control, Productivity & efficiency

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