According to research, the estimated global IoT fleet management market value in 2022 is US$ 7.3 Billion, and it is projected to reach US$ 22.2 Billion in 2032 at a growing rate of 11.5% from 2022 to 2032. This prospect has demonstrated the strong demand for IoT applications in the transportation and logistics industry and shows the sector’s confidence in complementing IoT for their business growth.
It’s a consensus in the logistics sector that IoT underpins fleet management.
Transportation and logistics businesses yearn to manage their shipment tracking. Not only in the pursuit of better customer service to override the competitors but also try to increase cost efficiency under the pressure of growing concern of fluctuating fuel costs and the rising costs in fleet maintenance.
Courier companies such as DHL, UPS, and FedEx, among others, are adopting IoT applications such as telematics in their shipment and tracking systems. So the fleet operators can monitor the fleet location, driver behavior, vehicle health, fuel consumption, or facilities’ environmental conditions.
The connected devices transmit the big data to the cloud, provide the fleet operators with more visibility and manageability of the shipment, and gain insightful information for definite business decisions.
It helps to optimize route planning to avoid traffic congestion and reduce carbon emission, alarm on potential vehicle health issues at an early stage before it gets expensive, therefore reducing the maintenance cost.
However, since 90% of the Earth’s surface has no mobile coverage, this is a massive problem for the digitalization of the logistics sector. Thus, to open new business opportunities, how to gain connectivity in those areas where there’s no cellular coverage available becomes vital to outstanding from the competition in the sector.
And, we have the solution!
To solve this lack of connectivity, we deployed a nanosatellite LEO(low earth orbit) constellation that is 500km from the Earth and works as cell towers from Space, providing global IoT connectivity over standard 5G NB-IoT protocol, allowing unmodified commercial terrestrial devices connect directly to the Space wherever they are.
There is no significant incremental hardware investment, and it’s scalable!
How cool is that? Then it's your time to...
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