India Fleet Management Software Market is anticipated to grow at a CAGR of 15% by FY’25- Which factors will help the industry grow?

  OEM’s will start manufacturing standardized Fleet Management Devices that will be in-built feature of trucks to come with the help of partnering with various tech platforms, says a report by Ken Research

1. Solutions provided by fleet management software - The various uses that it offers.      

                                          

Uses of Fleet Management Software

Fuel Monitoring alerts the owner on fuel drop, mileage drop and fuel consumption. Detailed fuel reports on fuel consumption and trend analysis is sent to the customer to have control over the cost. Fuel Management can save between 20%-25% of overall operational expense per truck for a transporter.

Trailer Monitoring includes Temperature Sensor, Door Sensor installed and also gives the customer real time update of which trailer is hooked to which truck.

Basic Vehicle Management solutions such as GPS Navigation, Emergency Response system are popular and heavily demanded.

2. Mass adoption of entry level FMS solution driving 85% of industry revenue in 2020.

                         

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Solutions provided by entry level FMS

• Tracking and Tracing
• Driver Identification.
• Geo Fencing.
• Trip Recording.
• Fuel Level Monitoring.
• Predominant in the market, contributing to the most in the industry.
• Small and Medium Fleet Operators prefer entry level products.
• Predominantly used on a compliance stand point with just track and trace.

3. AIS 140 Standards brought by ARAI ensures safety and brings all Commercial Vehicles under

 one platform.

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• AIS 140 is the latest Automotive Industry Standards introduced by Automotive Research Association of India (ARAI) and deals with the requisite safety features required on Public Transport and Commercial Vehicles.
• All Commercial and Public Transport vehicles should have the ability to transmit real time location, should include one or more emergency buttons (depending on the size) and other vehicle information.
• AIS 140 introduction creates a surplus demand for devices, technology and platform utilization. Expected Increase in growth to up to 20%.
• Increased data tracking and technological advancement will bring all CVs under one common platform & introduction of emergency buttons also increases safety for drivers and passengers. 

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