It’s been eye-opening to consider the rapid adoption of geo-productivity across a variety of industries, starting with fleet management (see our announcement last week with General Motors, which will see our geo-productivity software (GPS), MapAnything Live, integrated with OnStar). I believe we are on the cusp of an entirely new era of the “smart industry.” In this era, technology such as our GPS platform will open new doors to productivity, service, safety, and compliance across industries including insurance, transportation, and logistics. GPS, integrated with traditional telematics and fleet management is only the beginning – and is driving the evolution of “thinking fleet.”
According to a recent study by Technavio, the global commercial telematics market is growing at an impressive CAGR of more than 27%, and this rate is projected to continue through 2020. The market is projected to reach a global value of $49.2 billion by 2020, according to Allied Market Research, who also indicate that fleet and asset management are the most prominent use cases of GPS and telematics today, and are expected to continue to dominate the use cases in to the future.
It’s no wonder that leading commercial vehicle manufacturers, such as GM are focused on telematics as an essential technology for their fleet customers. Why? Because telematics represents a major leap forward for companies’ that need to improve security, optimize routing, simplify and monitor compliance, eliminate idling, and improve bi-directional communication with corporate applications and systems. As these organizations integrate intelligent routing, geo-fencing, navigation, vehicle diagnostics, and many other highly-valuable capabilities, companies will gather critical trend data about vehicles, drivers, productivity, safety and compliance. More importantly, they’ll discover new and innovative ways to improve business results and reduce costs.
Geo-productivity, built into fleet management solutions like OnStar, provides a platform for building intelligent fleets—and corporate customers are demanding it. Companies that operate fleets of vehicles need critical insights to help their fleet managers operate safely, efficiently, and as cost effectively as possible. Intelligent routing and scheduling, automatic work order creation, case status changes or invoice creation based on customer proximity improves customer relationship management. Telematics that incorporate vehicle diagnostics, fuel tank capacity, speed, ignition, driving behaviors etc. improve fleet productivity. As this information is captured and analyzed at scale, fleet managers make more informed business decisions, and optimize for the bottom line.
Geo-productivity is an important part of the thinking fleet. We are thrilled to be at the forefront of this innovation, and are looking ahead to bringing GPS to even more industries in the future.
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CPO at MapAnything