AEMP Focus on Technology: Upgrading Fleets And Integrating Technologies
Wednesday, September 27, 2017
Posted by: AEMP
Upgrading Fleets And Integrating Technologies Top List Of Planned Investments For Construction Companies
If you are considering adding some heavy iron and some software to your fleet in the near future, you are keeping good company.
A telematics benchmark report survey was conducted by leading telematics solutions provider recently to identify construction telematics use around the globe, and to highlight best practices and common trends of variety of professionals in construction, oil and gas, mining, aggregate and related industries.
Of the 1,200 people surveyed, 88 percent identified themselves as part of the construction industry. Positions included owners, fleet managers, maintenance/equipment managers, site managers, general managers, operators, and upper management. This survey was conducted in the U.S., United Kingdom, Austrailia, New Zealand, and Mexico.
The survey shows optimism in the construction market remains high as the economic recovery continues to pick up speed on a global scale. More than 90 percent of companies responding plan to invest in their business in 2017 by upgrading fleets (45 percent), finding, retaining and developing talent (38 percent) and/or integrating new technologies and systems (34 percent).
More than half of the organizations will be increasing the number of equipment/fleet size over the next year as a result of more demand for services (64 percent), replacing older equipment/vehicles (55 percent) and domestic growth (34 percent).
Notably, the use of Telematics and Technology in general is making strong headways into the equipment management culture.
Of those surveyed, more than 80 percent said their organizations are already using telematics or plan to do so in the next year. Here is how their use breaks down:
- 75 percent use telematics for equipment tracking
- 61 percent use telematics for tracking speed
- 53 percent track operator/driver hours of service
- 47 percent track distance a vehicle is driven, especially in on-road applications
- 37 percent monitor operator performance
- 34 percent monitor vehicle components for maintenance
- 29 percent track idling
- 27 percent monitor fuel usage
Nearly four out of five of those surveyed said the benefits of using telematics can "quantify the revenue impact" of the cost of installing the technology. The top benefits the survey respondents listed were:
- 59 percent found peace of mind knowing where vehicles/ equipment are located.
- 39 percent saw improved operator behavior
- 26 percent gained insight into vehicle performance and maintenance needs
- More efficient scheduling of equipment
- Time/cost savings
- Meeting environmental compliance requirements
- 13 percent noted better information regarding accidents
Mobile technology is well embedded into the respondents company culture, too.
- 81 percent said they use their telematics system for more than two hours a day
- 57 percent provide mobile technology such as smart phones and tablets to their workers
- 9 percent intend to provide workers with company communication equipment next year
- 7 percent allow employees to bring their own devices and link to company systems
- 27 percent do not use mobile technology for their equipment management
The survey also provided some additional interesting insights into the construction industry's near future:
- The global construction market is expected to grow by 85 percent, to $15.5 trillion worldwide by 2030.
- An analysis by The West Australian newspaper predicts that globally about 30,000 new construction jobs, primarily on commercial property developments due to start or ramp up over the next 12 to 18 months.
- Mexico is the second largest market for used equipment
- In the U.K. rising fuel costs are a driving force behind inflation and rising construction costs
- The U.S., China and India will account for 57 percent of global construction growth between now and 2030. India will grow almost twice as fast as China, providing a new engine of global growth in emerging markets.
- Emerging technologies of interest including fatigue monitoring (27 percent), machine vision technology (19 percent), drones (16 percent) and big data analytics (14 percent). Only 9 percent of those asked thought autonomous/self-driving vehicles were the next big trend.
“The construction industry has long faced pressures to do more with less – more output with fewer resources – to meet customer demands, while also ensuring the safety of its workers and profitability of the business,” said Rachel Trindade, global vice president of marketing, Teletrac Navman.
“It’s no easy task to balance these competing interests, which is why so many fleets are turning to modern technologies, such as telematics, to find efficiencies. We’re committed to supporting the industry by helping them understand and navigate these market shifts.”
Download the Teletrac Navman survey here >>