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The top trends of vehicle fleet management for 2024

By Verizon Connect Team January 4, 2024

Vehicle fleet management is shaping the future of fleet-based companies and can help streamline processes and transform fleet performance insights into actionable triggers to improve fleet operations. In fact, according to our Fleet Technology Trends Survey in Europe, 76% of fleet managers rated vehicle fleet management solutions as “extremely or very beneficial” when it came to managing their fleets.  

We surveyed a total of 1,538 fleet managers, mobility professionals and business owners for the Verizon Connect 2024 Fleet Technology Trends survey. They shared powerful insights and future trends for fleet-based businesses to transform fleet operations.

Let’s dive into these fleet management trends that are going to shape the future of fleet-based companies

Trend #1: Vehicle fleet management is key to reducing costs

Fleet-reliant companies depend on the use of fleet management technologies to help reduce daily operating costs. Insights on fuel consumption, distance travelled, and speeding that increases fuel consumption are used as real-time triggers that can help reduce fleet costs every day and over time.

In fact, our latest Fleet Technology Trends Report Europe showed that 60% of fleet managers and mobility professionals found a vehicle fleet management solution to be “extremely or very beneficial” in reducing their fleet costs. 

Also, according to our survey across all industries, GPS tracking users decreased:

  • Accident costs by an average of 29%
  • Fuel costs by an average of 24%
  • Labour costs by an average of 23%
  • Vehicle maintenance costs by an average of 21%
  • Insurance costs by an average of 22%

Download the Fleet Technology Trends Report Europe 2024 to learn more about how fleet management can help companies like yours improve fleet operations while reducing fleet costs and contributing to a healthy bottom line. 

Trend #2: The number of EVs is increasing slowly but consistently in Europe

Today, electric and hybrid vehicles are becoming a real alternative to traditional petrol and diesel combustion vehicles. 

Furthermore, with the agreement passed by the European Parliament to ban the sale of diesel and petrol vehicles by 2035 and the subsidies available for the purchase of electric vehicles, sales are increasing, but not yet at the rate of displacing traditional vehicles.  

More and more vehicle fleets now include electric vehicles. In fact, according to our latest Fleet Technology Trends Report Europe, 48% of fleets surveyed already include electric vehicles and 34% plan to boost the electrification of their fleets in the next 3 to 5 years.

According to our survey, this is a ranking of countries that have electric vehicles in their fleets:

  1. United Kingdom: 59%
  2. Germany: 54%
  3. France: 53%
  4. Spain: 50%
  5. Italy: 47%
  6. Austria: 40%
  7. Ireland: 39%
  8. Portugal: 38%

Problems of increased sales of electric vehicles include: 

  • High prices of electric vehicles compared with diesel or petrol ones.
  • Lack of network infrastructure for charging points.
  • Low autonomy of electric vehicles.

Once the high prices of electric cars are reduced, the map of charging points is improved, and the range aspects are improved, it is possible that electric vehicle sales will increase even more in the coming years.

Trend #3: Asset tracking is key to improving equipment/trailer utilisation

One of the biggest challenges fleet managers face is making better and greater use of their available resources and asset tracking technology, which can make all the difference. 

As an example, in the construction industry where most of the machinery is leased, uses a lot of fuel, and spends long periods of time idling, good resource management is key. 

In this case, asset tracking in the construction industry will help identify idling time that increases fuel consumption, and you can coach your team to avoid this unnecessary practice. With the right technology in place to support you, you can track all your assets and see which ones are in use, and which ones are free for the next task, achieving a continuous workflow and maximising the output of your resources.

Furthermore, our latest Fleet Technology Trends Survey in Europe shows that 73% of respondents improved equipment and asset utilisation. Here is the ranking of countries that improved equipment and trailer utilisation the most with the help of an asset tracking solution:

  1. Portugal: 82%
  2. Spain: 80%
  3. Italy: 76%
  4. Ireland: 73%
  5. France: 72%
  6. Austria: 70%
  7. Germany: 68%
  8. The UK: 66%

Download the Fleet Technology Trends Report Europe 2024 to learn more about how asset tracking can help businesses like yours.

Trend #4: GPS tracking is the most used fleet technology to help transform fleet operations and achievet results

One of the many key benefits of a vehicle fleet management solution is tracking your vehicles and providing fleet performance data, so fleet managers and business owners can use these insights to help reduce costs, increase productivity, stay on top of vehicle maintenance and get more out of every business day.

The latest Fleet Technology Trends Report reveals that GPS tracking is, for the third year in a row, the top fleet management technology most utilised in Europe. This is because business owners trust fleet management technologies to build resilience and achieve results in their company.

According to our survey, the majority of businesses saw major improvements since implementing a GPS tracking solution: 

  • 69% of those surveyed improved tachograph/ regulatory compliance
  • 59% Improved productivity 
  • 58% Improved customer service
  • 57% Improved routing 
  • 57% Improved safety 
  • 53% Decreased fuel consumption 
  • 53% Improved the management of daily operations 
  • 50% Improved sustainability 
  • 49% Decreased accidents 
  • 47% Reduced CO2 levels
  • 45% Improved efficiency 
  • 36% Improved vehicle maintenance 
  • 34% Decreased labour costs 

Download the Fleet Technology Trends Report Europe 2024 to learn more about how GPS tracking can help businesses like yours.

Vehicle fleet management can help boost your fleet-based business

The 2024 Fleet Technology Trends Report uncovers even more ways fleets are using technology to overcome business challenges, achieve their goals, improve operating efficiency and drive down costs. 

Download the new 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, Data & analytics, Fleet trends report, Productivity & efficiency

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