IoT-based fleet management solutions have seen significant market momentum and substantial industry leader activity in the fleet & freight optimization space — making them a technology worth prioritizing.
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Retail leaders are shifting more of their budgets toward tech-enabled solutions that improve efficiencies and connectivity across the supply chain — increasing the automation as well as the flexibility of the fleet and freight management processes.
Using CB Insights data, we examined tech markets across fleet & freight optimization for retailers and ranked them across two metrics — market momentum and industry leader activity — to help companies decide whether to monitor, vet, or prioritize these technologies.
IoT-based fleet management earned a recommendation to prioritize based on the market’s strong market momentum and industry leader activity.
IoT fleet management solutions leverage GPS, cameras, mobile devices, and other connectivity infrastructure to track and monitor vehicles. These solutions help supply chain operators improve operations and reduce costs.
Typical functions offered within IoT-based fleet management platforms include route planning, fuel management, EV charging management and emissions tracking, predictive maintenance, and vehicle diagnostics.
Retailers, brands, and e-commerce players should prioritize AI-based solutions that offer more predictive and prescriptive capabilities than previous IoT technology.
Dash cams that use computer vision to monitor and detect driver behavior, as well as real-time equipment monitoring, can contribute to significant costs savings and efficiency gains.
FACTS & FIGURES: IoT-based fleet management
- Funding: IoT-based fleet management companies have raised nearly $2.4B in disclosed equity funding since 2017 (as of 4/20/22).
- Stage: The space is notably mature relative to other fleet & freight optimization tech markets, with just 38% of companies at the early-stage level.
- Top-funded companies: Top-funded companies in the space include Samsara ($1.2B in disclosed equity funding), Cambridge Mobile Telematics ($503M), and Motive ($417M).
Clients can dive into IoT-based fleet management and more in our complete MVP Technology Framework: Fleet & Freight Optimization for Retail report.
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