Verizon Connect report highlights fleet tech adoption, ROI gains, and safety improvements

By: Verizon Communications, Inc. via GlobeNewswire

November 18, 2024 at 09:00 AM EST

What you need to know:

For five consecutive years, at least four out of five respondents have reported using at least one form of fleet technology.
Fleet technology is making significant strides in reducing costs, enhancing operational efficiency, and improving safety.
Fleet management software is evolving to meet emerging challenges, including sustainability and electrification.

NEW YORK, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Verizon Connect today released its fifth annual Fleet Technology Trends Report, conducted in partnership with Bobit Business Media, and based on responses from 543 fleet management professionals. The report highlights how fleet management technology continues to serve as a dependable asset for boosting performance across small, medium, and enterprise fleets.

The findings reveal a steady increase in the use of GPS fleet tracking, in-cab video solutions, and predictive analytics, driven by rising costs, evolving regulations, and competitive pressures. With consistent growth in adoption rates and proven return on investment (ROI), these technologies are empowering fleets across industries to enhance efficiency, improve safety, and navigate sustainability challenges.

Key U.S. findings include:

Widespread adoption of fleet technology. For the fifth consecutive year, the Fleet Technology Trends Report shows strong adoption of fleet technology, with over 80% of respondents consistently utilizing at least one form of technology. GPS fleet tracking is a standout, with 69% of fleets across industries reporting its use. A substantial 72% of these users find it extremely or very beneficial, with a majority citing improved efficiency (62%) and a reduction in harsh driving/speeding events (49%).
Cost reduction and rapid ROI. The findings underscore that between 2021 and 2025, average fuel savings doubled (8% to 16%), while accident cost savings increased from 11% to 22%. Nearly half of respondents (47%) achieved a positive ROI from GPS fleet tracking in less than a year, demonstrating the technology’s growing value. Notably, both asset tracking and field service/workforce management solutions saw a 7% increase in users reporting a positive ROI within a year.
Technology enhances safety and efficiency. A renewed focus on safety is clear, with 57% of respondents citing improved driver safety as a key benefit of GPS fleet tracking. Additionally, in-cab video solutions are proving instrumental, with 68% of users rating them as extremely or very beneficial. Not only do these technologies help reduce distracted driving incidents and improve coaching sessions, but they are also linked to substantial reductions in accident and insurance costs.
Embracing EVs and sustainability goals. This year’s report introduces new insights into EV integration. Among U.S. respondents, 28% reported that GPS fleet tracking helps identify suitable applications and routes for EV utilization. Fleets operating EVs are using GPS tracking to improve vehicle visibility (35%), improve efficiency and management of daily operations (35%), reduce maintenance costs (30%), and increase battery status visibility (19%). Encouragingly, 35% have already seen sustainability improvements through fleet technology, underscoring the progress being made in meeting environmental targets.
Navigating the industry challenges. The survey reveals persistent cost challenges, with 77% of respondents naming rising costs as their top issue for the fifth consecutive year. Notably, concerns over increased regulation (43%) and competitive pressure (33%) are the highest levels since the survey began in 2021.

“As fleet management continues to evolve, it's clear that technology is more than just an investment, it's a critical driver of efficiency, safety, and sustainability," said Peter Mitchell, General Manager, Verizon Connect. "The findings from this year's Fleet Technology Trends Report highlight a strong commitment across industries to embracing fleet technology, with GPS tracking and in-cab video solutions consistently delivering measurable results. As fleets face rising costs and increased regulatory pressures, these technologies are proving to be indispensable in helping organizations optimize their operations, reduce expenses, and navigate the path toward a more sustainable future.”

To see the complete survey findings, visit the 2025 Fleet Technology Trends Report page. To access the EMEA and APAC Fleet Technology Trends Reports in the local region and language, please see the country-specific options:

Europe: Germany, France, Spain, Ireland, United Kingdom, Italy, Portugal
APAC: Australia

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Tessa Giammona
tessa.giammona@verizon.com

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Verizon Connect report highlights fleet tech adoption, ROI gains, and safety improvements

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