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Here’s how tracking technology is rising aggressively

The GPS tracking market is reported to manifest notable development potential by the year 2023.

November 22, 2019 / 07:51 PM IST

Vikram Kumar

Tracking technology rose from directing submarines to supporting delivery truck drivers. However, as smartphones became common, GPS data turned out to be progressively widespread and inevitably influenced all industries. Thanks to proper hardware and software implementation in smartphones, the location tracking system witnessed serious development.

The GPS tracking market is reported to manifest notable development potential by the year 2023.

The market pioneers capturing the overall GPS tracking industry

Today, a large number of individuals throughout the globe are benefitting through this technology. The key driving elements for the aggressive growth of the tracking technology market incorporate smaller size, the expansion in the market of commercial vehicles, reasonable cost, and the exceptional yield on investment.

Logistics and transportation hold the highest share of general GPS tracking technology. Soaring cases of unauthorised utilization of commercial automobiles combined with the growing demand for fleet efficiency are influencing the worldwide GPS tracking system demand.

Additionally, the ongoing trend from ownership of cars to renting or carpooling is further propelling the demand for an advanced vehicle tracking system. Furthermore, the flourishing travel industry has significantly boosted the necessity for car rental services. Thus, GPS tracking sector demand is blooming.

Vehicle tracking technology empowers prompt, recorded tracking of routes travelled, vehicle speeds, idling times, and stops on maps with complete time reports, making them invaluable for companies or individuals who own fleets.

GPS tracking augmentation is generally the best solution for tracking and monitoring of both individuals and products. Its fundamental features include:

  • An upheld solution with flawlessly supported tech, such as satellites, accessibility, and others.

  • Incredible real-time and exact tracking system.

  • Accessibility to all service providers, mediators, and consumers.

  • A booming industry loaded with tool optimization, research, and development.

Problems solved by advanced vehicle fleet tracking system

Vehicle tracking frameworks like Letstrack offer an alternate number of solutions, contingent upon their necessities and intricacy.

Road safety

This innovation could facilitate advances to dispose of common road perils and annoyances. The technology promotes third party APIs for park-assist, traffic reporting, driving etiquette management, average speed, and much more.

Fleet metrics

The technology enables the owner to recognise inappropriate use or use of alternate routes by drivers. It additionally permits the execution of driver identification proof to ensure that only an authorised driver utilizes any of the armada vehicles. Further, fleet summary reports underline the actions performed per fleet, indicating territories where most activities happened.

Monitoring automobile use

This advanced framework identifies the working of associated hardware. For instance, Private Mode: the feature utilized in vehicles operated for both private as well as business purposes, enables the user to turn off the time tracking system when they use vehicles personally. Additionally, there is a panic button which can be used by drivers in case of any emergency.

Fuel management

The product can build up targets for fuel consumption, as per the moves made by the vehicle, so the fuel utilization lessens. It is achieved through improved upkeep, driver behaviour observation, identifying unapproved driving, and individual use. Also, a few tracking systems for vehicles consist of alternatives for fuel consumption drop to share the best practices of driving.

Driving etiquettes

Safe driving among staff is promoted through driver behaviour alerts sent through the vehicle tracking system. The device provides a strong foundation to fleet risk evaluation and management and driver training. Also, reports offered by the vehicles tracking system direct to change driving styles for better driving.

Cost deduction

The vehicle tracking technology likewise saves money in various manners, from diminishing fuel consumption to diminishing regulatory time and checking drivers' locations without calling.

Additionally, cost reduction from forgotten maintenance, wear and tear, and aggressive driving manner is something benefited with the cutting-edge tracking frameworks.

The author is Founder and CEO of Letstrack.

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Moneycontrol Contributor
Moneycontrol Contributor
first published: Nov 22, 2019 07:51 pm