Report Reveals 40% Reduction in Collision Rates Through Implementation of Proactive Safety Measures

Toronto, ON (May 9, 2024) - Geotab is pleased to announce the release of “In the Driver’s Seat: Accelerating ROI Through Data Driven Insights,” its second commercial transportation report. Expanded to a global report, this comprehensive edition offers valuable insights into the evolving landscape of the commercial transportation sector, providing essential information to navigate challenges and capitalize on opportunities.

The 2024 edition of the report delves into key trends, challenges, and potential within the industry, highlighting the pivotal role of advanced telematics in optimizing fleet operations. By leveraging data intelligence and cutting-edge AI models, fleets can enhance safety measures, improve productivity, and reduce costs, amidst rising fuel prices, regulatory shifts, and economic uncertainties.

 

Key Findings: Trends and Observations

• Fleets using Geotab’s safety features have shown a 40% reduction in collision rates.  
  • Brazil (4%), Italy (5.3%), and Spain (5.7%) experienced the most significant rise in miles driven prior to a collision, suggesting increased safety measures and fewer collisions.
  • Germany (-27%), Portugal (-30%), the United Kingdom (-19%), and the United States (-12.6%) saw a decrease in miles driven prior to a collision, suggesting a need for increased focus on safety measures.
• Expanded use of Geotab’s safety features could have averted an estimated additional 3,500 collisions. 
• Rising vehicle ages highlight predictive maintenance’s role in operational safety and efficiency.
• Sustainability initiatives that cut fuel consumption are critical as fuel costs hit 60% of total fleet operating costs.
  • Canada and the United States have shown strong, successful reductions in idling times, with decreases of 5.73% and 3.75% respectively.
  • Germany, the United Kingdom, and Mexico experienced a rise in idling time over the same period, indicating an opportunity to further optimize sustainability operations.
• In 2023, EV adoption surged globally: 
  • Strongest growth in South Africa (796%); Peru (289%); and Mexico (248%) indicating strong momentum toward EV adoption in these regions.

"The transformative potential of connected vehicles and the power of trusted data are clear,” said Mike Branch, Vice President of Data and Analytics, Geotab. “‘In the Driver’s Seat: Accelerating ROI Through Data Driven Insights’ provides invaluable insights into the dynamic landscape of the transportation industry. As companies strive to adapt to evolving market conditions and embrace sustainable practices, Geotab remains committed to empowering them with the data-driven tools and recommendations needed to thrive in an increasingly complex environment."

The global telematics industry is strong and continuing to grow, it is expected to reach $172.4B US by 2032, demonstrating an incredible 17% growth between 2023 and 2032. This report highlights trends that demonstrate the pivotal role that data and AI will play in driving performance, efficiency, profitability, and sustainability in the transportation industry in the coming months. Amid complex economic, environmental, and technological transformations, Geotab is committed to provide exceptional insights that empower businesses to make informed decisions.

This report is available for free and can be accessed on the Geotab website. The 2022 report is available here.