Did you know that the global vehicle tracking market was worth $17.64 billion in 2020 and is projected to expand at a 13.3% compound annual growth rate from 2021 to 2028?
According to Grand View Research, different factors contribute to the expected market growth. They include the need for better operational efficiency, profitability, and productivity.
These are the sorts of things to consider if your business has a fleet of vehicles. Are you interested in learning more about the benefits of GPS fleet tracking?
Here’s a look at 5 major benefits of tracking your fleet with GPS technology.
1. Lessen Operating Costs
If you’re a fleet manager, you’ll want to investigate ways to reduce operating costs — and GSP technology is one such option. It’ll help you reduce vehicle repair costs, fuel costs, and insurance costs.
You’ll gain insight into how the vehicles are being used and will then be able to implement any needed changes to substantially lower operating expenses.
2. Learn About Vehicle Fleet Usage
When using a tracking system, you can find out about the location of the vehicles in your fleet, idle time, car speed, stops, and inappropriate use. The level of information you get will all you to get more out of your vehicles.
You can set up the system to get notifications in real-time that allow you to make decisions in real-time.
Your staff will be more accountable and less likely to be about their own business while on duty.
3. Prevent Vehicle Theft
For every 100,000 people, 246 vehicles were stolen in 2020. That was the most substantial rate of vehicle theft since 2009. If any vehicles in your fleet get stolen, that will lead to downtime that you can’t afford.
You may never get a stolen vehicle back again if there’s no GPS system. So, it does make sense for a fleet manager to use GPS tracking technology. There’s a better possibility that any stolen vehicle will be found and returned to you.
A company like equipmentshare.com provides GPS tracking technology you’ll want to explore. It might be just what your company needs for fleet vehicles.
4. Better Productivity
GPS tracking makes fleet management easier. You’ll know where all your vehicles are at any time of the day. So, you’ll be able to assign specific drivers to different locations.
Your staff will be more productive if your vehicles are equipped with GPS tracking technology. If there’s a driver in close proximity to a customer, you’ll know it. You’ll be able to dispatch the driver closest to the client in question.
5. Meet Customer Expectations
If you use GPS tracking to manage fleets, you’ll be able to provide accurate information to your customers. They’ll want reliable delivery times, and you’ll be able to deliver accurate tracking information in real-time.
GPS Fleet Tracking is a Must if You Have a Fleet
If your company has a fleet of vehicles, then GPS fleet tracking is worth considering. The benefits will likely outweigh the cost.
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