Novatel Wireless (News - Alert), a provider of wireless management services, in collaboration with NexTraq, a source of GPS vehicle tracking and fleet management solutions, recently presented "The Future of Fleet Management" at Connected World Conference 2012, in St. Charles, Ill.
The session, led by Tyson King, VP of Sales for M2M Integrated Solutions (News - Alert), Novatel Wireless; and Alain Sergile, director of Product Management at NexTraq, focused on harnessing the power of compact wireless technology for simple installations of fleet management solutions with value added usage-based insurance solutions. These solutions include reports on GPS location, ignition, geofencing, trips and events.
Additionally, these wireless management and fleet management solutions have the ability to capture data about driver behavior, such as excessive engine speed, rapid acceleration, harsh braking, speed violations and excessive idling.
Attendees got an opportunity to learn how effective fleet management solutions help drivers make better, smarter decisions behind the wheel, and provide powerful incentives to fleet operators and enterprises.
"Industry dynamics and innovative approaches such as the NexTraq offering are both redefining and expanding the market for fleet management," said King. "We believe simple-to-install, cost-effective solutions with tools to mitigate risk and liability for the fleet while also reducing operational expenditures have the potential of driving significant adoption into new markets.”
Globally fleet management systems experience strong growth. Recently ABI Research (News - Alert) predicted that global fleet management and trailer tracking system subscriptions will grow from 13.3 million in 2012 to 30.4 million by 2016. According to the firm, usage-based insurance market segment is helping spur growth.
"Generally, our customers experience an average Return-On-Investment within two to four months of implementing our solution,” Sergile stated. “This is typically based on fuel use savings in the 20-30 percent range, with additional savings coming from our innovative usage-based insurance. By minimizing the cost of in-vehicle installations, our customers will be able to achieve even shorter ROIs."
Recently Novatel Wireless also announced new telemetry solutions for remote asset, monitoring and control aimed at industrial automation, vending machines, oil and gas pipelines and energy and smart grid applications.
Edited by Braden Becker