The transportation industry is undergoing unprecedented transformation. Fleet management professionals are faced with new challenges, regulations, and decisions on a rapidly increasing basis.
This presents new opportunities for Application Service Providers (ASPs) to develop innovative IoT solutions that help Fleet Managers address these evolving challenges and create new efficiencies.
To succeed in this era of innovation and disruption, ASPs will need to bring creative offerings to market while also improving upon capabilities that Fleet Managers and drivers depend upon each day. With internal resources dedicated to the core competency of application development, some of the most significant – and sometimes overlooked – components required to power the application for highly effective Fleet IoT solutions include:
- Security requirements: Safeguarding your customers’ data, vehicles, cargo, and drivers should be the top consideration. How will your solution secure data traffic at every stage? Will VPN services be needed?
- Devices: Are you designing your own connected hardware device to support your application, or will you leverage an existing off-the-shelf device? If building your own device, include plenty of time in your go-to-market schedule to secure the proper device certifications. This process, which can take weeks or even months, is one of the most overlooked factors – it can delay product launches and eat away at ROI.
- Roaming requirements: Anticipate your customers’ geographies and business models – are they primarily long haul or short haul operators? Do they cross national borders? These questions will dictate your solution’s network requirements. If your customer base operates within the EU, you may be able to connect your application with a roaming SIM from a single carrier. If your customer base operates throughout North America, you may require connectivity from multiple carriers.
- The impact of network shutdowns: While 2G or 3G connectivity may seem like an easy solution right now, think longer-term and consider your solution’s lifecycle. Many carriers have announced sunset dates for 2G/3G networks, so there is a possibility that your device will be obsolete at some point in the coming years. This could leave your end users scrambling to upgrade devices and create a poor customer experience.
With the global IoT fleet management market estimated to reach $15,500 million by 20241, Fleet businesses are demanding advanced management tools now more than ever. For ASPs, this presents a golden opportunity for innovation and market disruption.