There is a lot of buzz around connected vehicles, and for a good reason. The size of the business opportunity is huge. Navigant estimates that pure revenue from connected vehicle systems is expected to grow from $96.3 million annually next year and to $36.6 billion by 2025.
In addition to improving road safety and fuel consumption, connected vehicles can improve productivity for fleet management. Trucking is a huge industry which is vital to the US economy, so anything that improves its efficiency has a big impact. Nearly 3 million heavy-duty vehicles move approximately 70% of the nation’s freight, about 9.2 billion tons annually, according to the American Trucking Associations.
Connected Trucks on a Roll
Trucking companies are already using real-time data collected from truck sensors to optimize operations. For example, Saia LTL Freight currently sends back live information from its fleet of more than 3,000 trucks, including the vehicle’s fuel economy, location, and engine diagnostics, to engineers in the company’s offices.
Recently, New World Van Lines of Chicago adopted the Rand McNally HD 100, a plug and play fleet technology solution that integrates fleet dispatch, routing and management systems while pairing with drivers’ iPhone or Android devices for complete track and trace. Drivers now have hands-free e-logging that will be compliant with new federal regulations and Rand McNally’s extensive array of driver information for routing, safety and compliance.
Last May, Daimler revealed the world’s first officially recognized self-driving truck, which should be in commercial use within a decade.