Investment in fleet telematics and driver safety technology continued during the pandemic as operators prioritised safe and efficient vehicle operation.
A survey conducted for Verizon Connect among more than 1,350 UK/European fleet managers has found that despite all the challenges and the uncertainty in the market, 2021 showed growth in fleet technology across Europe and the UK, helping businesses to achieve and stay competitive.
After experiencing the pandemic’s effects and the consequent economic impact, many companies made the decision to take action and prepare their fleets for future eventualities.
A total of 59% of respondents said they established processes to check the safety and security of employees and vehicles during this period, while 47% invested in new systems that helped them to track vehicle data. And 42% said they focused on plugging ‘cost leakages’, while 38% monitored employee and vehicle hours closely.
Conducted by ABI Research, the survey also revealed the goals achieved since implementing a field service solution. Fuel costs were lowered in 52% of respondents, while the number of accidents was reduced in 43% of respondents.
Operational improvements were also seen; 66% achieved improved scheduling while 63% noted enhanced office efficiency. A total of 50% reported more jobs per engineer and 53% gained improved visibility into the near real-time location of technicians.
Video solution adopters also saw positive cost-benefits, with 57% seeing a reduction in accident costs and 47% obtaining a reduction in vehicle insurance costs.
The survey also revealed 86% of European fleets achieved ROI within a year or less and just under half (44%) gained this within six months or less.
“These results demonstrate in hard numbers, the transformational effect using fleet management solutions can have – especially for small businesses,” said Peter Mitchell, senior vice president and general manager of Verizon Connect.
“Many companies have been financially stretched during the pandemic. Fleet management technologies allow a dramatic reduction in costs while also enabling companies to get more work done. Equally as important, these technologies can also help prioritise safety, increase customer satisfaction and promote sustainability through reduced fuel usage.”
To access Verizon’s 2022 Fleet Technology Trends Report Europe, click here.
