Month: June 2023

Navigating the Global Fleet Management Market: Trends, Opportunities, and Predictions

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Fleet of school busesAccording to a 2023 report from Global Trade Magazine, the global market for fleet management is projected to reach a value of $13,868.2 million. This market is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.4% from 2023 to 2033 due to increasing demand from various end-use industries worldwide for bettering transportation network operations. If this growth trend continues, the market value could reach $37,300.17 million by 2033.

Several factors are contributing to this market growth. Key among them are rising concerns about fleet safety, government regulations mandating vehicle maintenance and tracking, the need for operational efficiency in fleet management, and the surge in the use of low-cost, readily available wireless technology. Continue reading “Navigating the Global Fleet Management Market: Trends, Opportunities, and Predictions”

How Telematics and Usage-Based Insurance Programs are Changing the Game

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car insurance and telematics devicesThe cost of car insurance is influenced by numerous factors, among which is your driving behavior. Traditionally, insurers would assess your driving record to get an insight into your driving habits. However, with the advent of car insurance tracking devices, they can now monitor your driving behaviors directly, using these insights to determine more accurately adjusted insurance rates.

If you are seeking affordable car insurance rates, you may have come across various usage-based insurance programs that employ these tracking devices. Such programs are growing in popularity because they can potentially lower car insurance rates for safe drivers or those who don’t drive frequently. But is it advisable for you to enroll in a car insurance tracking program?

It’s crucial to comprehend how these devices function, what data they gather, and how they impact your rates before making a decision.

An insurance tracker is essentially a telematics system that records your driving behaviors. There are two primary types of auto insurance trackers: a physical telematics device, or dongle, that you install in your car, and a smartphone app. The choice between these options often depends on your insurance provider and the program you select. Continue reading “How Telematics and Usage-Based Insurance Programs are Changing the Game”