As you continue to plan your business improvements, learn ways to improve the profitability potential for your high-value fleet
Could telematics improve your return on assets?
Telematics is having a significant impact on a growing number of industries and construction is no exception. Tracking of heavy equipment is helping project managers meet tight deadlines and tough performance metrics, while getting a better return on their construction equipment. Safety and security also see marked improvement. It’s no surprise then that it features heavily in our short-list of trends. here we will highlight the trends to watch for this year impacting the construction industry.
Big trend #1
Assets with built-in telematics will become a lot more common.
See all your equipment on one screen, one view. Telematics for assets isn’t new but the idea of it being built right into the vehicle, heavy equipment, or asset is, and it’s good news for customers. For equipment managers who were tracking assets in the past they generally split their time among several disparate systems which was a tedious, time-consuming process. Over 80% of all heavy equipment produced in the US since 2009 now comes equipped with telematics offered at no cost by the OEM. AEMP is spearheading efforts to unify manufacturers to standardize data shared by the heavy equipment they build to make it easier for owners to see a mixed fleet on a single screen— one login to manage all their assets regardless of brand. John Deere, Caterpillar, Komatsu, and Volvo have indicated willingness to use the new standards, and more are in the pipeline. The growth in built-in telematics for assets will see richer diagnostic data that’s unique to each OEM and result in greater efficiencies and management accuracy such as maintenance schedules, the life expectancy of parts, and driver behavior (such as seat belt use).
Big trend #2
Managers will be accessing more near real-time data on the go
Leverage just one easy-to-use application for all your field service needs. Managers of both people and equipment will not be waiting until they get back to the office to get project updates. With the growing processing power and screen size of mobile devices, the spread of 4G and ubiquity of Wi-Fi hotspots (including in-vehicle Wi-Fi hubs) and real-time cloud-based location services such as Verizon Connect Supervisor, managers will have access to all the information they need in the palms of their hands. Locating nearby assets, near real-time job updates, or alerts for issues that need to be addressed, along with regular reports is all information that’s available on a smartphone or tablet. Applications for managing assets are being developed for popular operating systems such as Android and iOS.
In the next part we will discuss next 3 trends in construction industry.