Fleet management involves the management of vehicles, such as cars, trucks, and vans, to ensure efficient and safe transportation of goods and people.
In this era of globalization, businesses and organizations have been forced to expand their operations beyond their local areas, and as a result, the need for effective fleet management has become more critical than ever before.
In this blog post, we will explore fleet management statistics, including insights into market size, trends, technologies, and best practices.
Fleet Management Stats
| Statistic | Value |
|---|---|
| Positive ROI in less than 6 months (2021) | 32% of GPS tracking users |
| Increase in the adoption of fleet management technology (2020) | 8% |
| Fleet managers currently using GPS fleet tracking solution | 64% |
| Increase in technology adoption rate among small fleets (2019-2020) | 12% |
| Fleet managers achieving positive ROI with fleet management solutions | 45% |
| Professionals reporting positive ROI in less than three months (2021) | 22% |
| Unaware of results achieved by fleet management solutions | 41% |
| Interest rate expected to be maintained by Federal Reserve through 2023 | 0% |
| Safety incidents reduced after using fleet tracking software | 42% |
| Leasing cost-efficient than complete ownership | 10-15% |
| Companies with mid-to-large size fleets that lease their vehicles | 80% |
| Fleets surveyed using big data analytics to guide strategic decision-making | 23% |
| Companies unaware of possibilities for fleets in improving operations with the use of rich data | ~60% |
| Improvement in customer service because of fleet tracking in 2020 | 54% |
| Companies’ average spending on vehicle maintenance | $860 |
| Companies saving on vehicle maintenance with fleet management software | >$100 |
Fleet Management fuel consumption statistics
| Statistic | Value |
|---|---|
| Fleets considering fuel as largest expense | 32% |
| Fleets reporting reduced fuel costs after using telematics software | 55% |
| Reduction in annual fuel consumption with eco-driving training programs | 5% to 30% |
| Increase in fuel consumption when vehicles run on low tire pressure | 10% |
| Average drop in fuel cost after using fleet tracking technology (2020) | 8% |
| Fuel cost as part of total cost to own and operate a vehicle | 22% |
| Organizations lowering fuel costs as a result of implementing fleet tracking | 36% |
| Organizations reporting lower accident costs as a result of implementing fleet tracking | 22% |
| Organizations reporting reduced labor costs as a result of implementing fleet tracking | 13% |
| Fleet professionals choosing GPS fleet tracking software for ease of use and adaptability | 89% |
| Increasing costs as a top challenge to daily fleet operations | 44% |
| Decrease in accident cost measured by industries using GPS tracking for fleet management | 11% |
| Savings on fuel cost per year in fleet industries after implementing AI technologies like route optimization | 30% |
| Idle time and diesel wasted by long-haul trucks per annum | 1,800 hours and 800 million gallons, respectively |
| Fleets idling three to four hours per day | 39% |
| Fleets idling more than four hours per day | 14% |
Key Fleet Management Statistics 2023 – MY Choice
- 32% of GPS tracking users reported a positive ROI in less than 6 months in 2021.
- Just 23% of fleets surveyed say they use big data analytics to guide strategic decision-making, and only another 15% plan to in the future. This is a big missed opportunity for fleets to improve operations by using the rich data telematics provides.
- Despite the known benefits of telematics, on average companies only use 3 (of 12 listed) telematics features; they could be getting more ROI out of their technology investments.
- A minority of fleets use their telematics solution to track idling (37%) harsh braking (33%), maintenance (32%) and fuel usage (30%), all important factors in safety and cost savings.
- While 66% use ELDs to track HOS, 24% still (unlawfully) use paper logs and 19% are using AOBRDS despite the rapidly approaching December deadline.
- 8% increase in the adoption of fleet management technology was noticed in 2020
- 64% of fleet managers are currently using a GPS fleet tracking solution in their organization. An increase of 8.5% from the previous year.
- 12% increase in the rate of technology adoption was noted among small-fleets from 2019-2020. Though enterprise and medium-sized fleets lead the way in technology adoption rates.
- 45% of 1,200 U.S. fleet managers, executives, and other mobile-business professionals achieved positive ROI in 11 months or less with fleet management solutions, increasing 18.4% from last year.
Fleet Management Market Size and Growth:
- The global fleet management market was valued at $16.98 billion in 2020 and is projected to reach $31.25 billion by 2026, at a CAGR of 10.2% during the forecast period (2021-2026).
- The North American fleet management market is expected to grow at a CAGR of 13.5% from 2021 to 2026.
- In Europe, the fleet management market is expected to grow at a CAGR of 9.5% from 2021 to 2026.
- The APAC region is expected to have the highest growth rate in the global fleet management market, with a CAGR of 16.5% from 2021 to 2026.
Fleet Management Technologies and Trends:
- The adoption of telematics systems for fleet management is expected to grow at a CAGR of 18.7% from 2021 to 2026.
- The adoption of electric vehicles in fleet management is expected to grow at a CAGR of 23.5% from 2021 to 2026.
- Fleet management companies are increasingly adopting AI and machine learning technologies to improve vehicle performance and maintenance.
- Predictive maintenance is gaining popularity in the fleet management industry, with the market expected to grow at a CAGR of 26.1% from 2021 to 2026.
- Real-time tracking and monitoring of fleet vehicles through GPS and RFID technologies is becoming more common in the industry.
Fleet Management Cost Savings and Efficiency:
- Fleet management systems can help reduce fuel costs by up to 15% by optimizing routes and reducing unnecessary idling.
- Implementing a fleet management system can reduce maintenance costs by up to 14% by optimizing maintenance schedules and reducing vehicle downtime.
- Improved driver behavior and compliance with safety regulations can result in a 20% reduction in accidents and associated costs.
- The use of data analytics and machine learning in fleet management can result in a 25% reduction in fuel consumption.
- Efficient routing and real-time traffic updates can reduce travel time by up to 20%.
Fleet Management Vehicle Maintenance:
- Regular vehicle maintenance can extend the lifespan of a vehicle by up to 50%.
- The average cost of maintenance for a commercial vehicle is $1,214 per year.
- Routine maintenance can reduce fuel consumption by up to 10%.
- The most common cause of vehicle breakdowns is battery failure, accounting for 50% of all breakdowns.
- Brake and tire failures account for 15% of all vehicle breakdowns.
Fleet Management Driver Behavior:
- Harsh braking and acceleration can increase fuel consumption by up to 40%.
- Speeding can reduce fuel efficiency by up to 33%.
- Distracted driving is a leading cause of accidents and can be reduced through the use of telematics and driver safety training.
- Drivers who receive regular safety training are 30% less likely to be involved in accidents.
SAFETY KPIs
| KPI | Description |
|---|---|
| Crashes and accidents | Number of crashes and accidents |
| Excessive speeding incidents | Number of incidents where drivers exceeded the speed limit |
| Corner handling incidents | Number of incidents where drivers did not handle corners safely |
| Harsh braking and acceleration incidents | Number of incidents where drivers had harsh braking and acceleration |
- 86% of fleets now use telematics, up significantly from just 48% two years ago and 82% in 2018.
- 55% of fleets reported reduced fuel costs from telematics software – a huge win considering that fuel is the largest expense for 32% of fleets.
- 42% have seen fewer safety incidents since using fleet tracking software to monitor driver behavior.
- Most fleets (74%) monitor vehicle and equipment location with telematics and a good number track hours of service (66%) and speed (61%), which are all key to efficient operations.
- Telematics improves safety all around, with more than a quarter citing driver monitoring (32%), speed prevention (26%) and preventing driver fatigue/exhaustion (30%) as top telematics-related safety benefits.
EFFICIENCY KPIs
| KPI | Description |
|---|---|
| Fleet asset utilization | How often each vehicle is being used |
| Empty miles | Miles driven without cargo or passengers |
| Fuel economy and idling time | How efficiently fuel is being used and how long vehicles idle |
COMPLIANCE KPIs
| KPI | Description |
|---|---|
| Hours of Service (HOS) available | How much time each driver has left for driving before taking a break |
| HOS violations | Number of violations of HOS regulations |
| Unassigned mileage per vehicle | Mileage that is not assigned to a specific driver |
ADDITIONAL KPIs
| KPI | Description |
|---|---|
| DVIR results | Daily Vehicle Inspection Report results |
| Improve preventative maintenance schedules | Schedule and complete preventive maintenance on time |
| Automatic maintenance alerts | Alerts for diagnostic issues in real-time |
| Cost per mile | Cost of operating each vehicle per mile |
| Average speed | Average speed of each vehicle |
| Time spent at each stop | How long each vehicle spends at each stop |
| Delivery/pickup times | Time it takes for each delivery/pickup |
| Revenue per mile | Revenue earned per mile driven |
| Driver turnover rate | Percentage of drivers leaving the company |
| Average age of fleet | Average age of fleet vehicles |
| Accidents per million miles | Number of accidents per million miles driven |
| Compliance rate | Percentage of drivers and vehicles that are compliant |
| Customer satisfaction rate | Percentage of customers satisfied with service |
| On-time delivery rate | Percentage of deliveries made on time |
| Maintenance cost per mile | Cost of maintenance for each vehicle per mile driven |
| Breakdown rate | Percentage of breakdowns in the fleet |
| Carbon footprint | Carbon footprint of the fleet |
| Training completion rate | Percentage of drivers who completed training |
| Fuel consumption rate | How much fuel is used per mile driven |
