Fleet Management Statistics – The Future of Fleets

Every successful fleet operator should anticipate future trends – but to do so requires a deep understanding of the industry today. The latest fleet management statistics can help optimize the operations of tomorrow, highlighting just how US fleets are responding to developments in areas such as transport legislation, vehicle management, and logistics.

Whether that’s managing fluctuating fleet costs, driver shortages, and maintenance issues, or adapting to advances in telematics, alternative fuels, and automation technology, you need to know where savings are being made, and what is being prioritized by fleet managers in 2024.

Read on to find out more about the state of fleet management in the US today across the topics of technology, safety, and sustainability, as well as some of the findings from our independent survey of fleet managers working in the industry.

Top Fleet Management Statistics

Before we dive into any specifics, here’s a whistlestop tour of fleet management statistics worth knowing in 2024.

• Trucking fleets transport 72.5% of America’s freight by weight.
• Estimates place gas as 25% of total spending, making the cost of gas the most significant challenge for fleets.
• Our survey highlighted that the most common priorities for fleet operators are to reduce costs, increase operational efficiency, and increase the productivity of drivers.
• Telematics are the most widely used fleet technology, with 83% of respondents in our survey stating they use telematics.
• The majority (48%) of respondents place driver safety as a top operational priority.
• 61% of fleet operators in the US believe that the proposed new automobile emissions standards would increase the number of electric vehicles.
• The majority of respondents (74%) felt that the federal government should provide more financial support and guidance to help them transition to electric vehicles.

Expert Market’s Fleet Management Survey

To gain a clearer view of the external issues facing commercial fleet managers today, we conducted an independent study with 300+ respondents from both the US and UK. This article predominately focuses on the US findings only.

The purpose of the study was to define the challenges that commercial fleets were facing in 2024 and understand how fleet managers are responding to them.

In our study, we found commercial fleets are currently facing multiple challenges in 2024, ranging from market forces (e.g. inflation, fuel costs, staff shortages) to government intervention (e.g. regulatory compliance, emission targets).

This article highlights the key findings from this survey, as well as recently published information from the US Energy Information Administration, Verizon’s 2024 Fleet Technology Trends Report, and The Inside Lane newsletter, which you can sign up for today if you want fleet industry insights delivered regularly to your inbox.

General Fleet Management Statistics

• With trucks being responsible for transporting 72.5% of America’s freight by weight, and expected to maintain and grow this position over the coming years, fleets are the major method of transporting goods in the US today.
• This relates to a larger industry growth trend, with the fleet management market projected to reach $52.50 billion by 2030.

While fleets are facing growing demand, they are also up against significant increases in fleet operating costs.

• Inflation has seen increasing costs move from a challenge affecting 44% of US fleet businesses in 2021 to 79% in 2024, according to Verizon’s 2024 Fleet Technology Trends Report.

The most significant challenge to fleets in the US, according to our survey, is the cost of gas. Gas has traditionally been one of the largest costs for fleets (certain estimates place it around 25% of spend) so price rises have a significant impact on the industry. Similarly, inflation and supply-chain issues have increased the cost of vehicles and vehicle parts, forcing organizations to spend more to complete their daily operations.

• According to the EIA, Gas prices are currently averaging $3.70 in June 2024. That is expected to continue until at least the autumn of 2024, with prices potentially falling to around $3.50 across 2025. While the current figure is lower than 2022’s $3.97 high point, gas prices remain stubbornly above pre-2022 rates.
• In the US, the top three operational risks relate directly to keeping vehicles on the road: cost of fuel (31%), vehicle breakdowns/mechanical issues (14%), and cost of maintenance (13%)
• The most common priorities in the next year are reducing costs, increasing operational efficiency, and increasing the productivity of drivers.

Fleet Technology Statistics

Since many fleet managers’ main focus is on cost reduction in the face of rising fuel costs and inflation, the adoption of new technology is not as prominent as it might be in a less harsh economic climate.

• Telematics are the most widely used fleet technology, with 83% of respondents in our survey stating they use telematics. Verizon found a similar number of US fleets, 70% of respondents, to be using a GPS tracking solution in its 2024 study.
• Telematics use is significantly more widespread in larger fleets. Of our US respondents, 93% of fleets with 50+ vehicles employ telematics products in their fleet management strategy.
• Being able to easily locate vehicles is the biggest benefit of telematics (29% of all respondents) followed by Improved Driver Safety and Behaviour (27%)
• Whilst using telematics can result in fuel saving (through promoting efficient driving), only a small minority of respondents (6%) viewed it as the biggest benefit.
• We also found that 52% of fleets with 3 vehicles (or fewer) use telematics.
• 41% of GPS tracking users reported a positive ROI in less than one year and 21% in more than one year.
• 40% of our survey respondents in the US say budget constraints are the biggest barrier to the adoption of fleet technology

Though it may not be your top priority given the current financial pressures facing fleet operators, telematics products can make your operation run a lot smoother. The majority of fleet managers are currently operating with the help of technology. If you haven’t already invested, you may want to consider taking a look to improve your driver’s safety, behavior and overall smooth running of operations.

Secondly, GPS trackers can improve your operational efficiency by helping you quickly locate vehicles while they’re on the road. This will give you a better oversight of your whole fleet, which may not be achievable without the added help from technology.

Fleet Safety Statistics

A May 2024 report by the National Highway Traffic Safety Administration estimated reduced traffic fatalities in 2024 compared with the previous year. Research shows that an estimated 40,990 people died in motor vehicle traffic crashes. While it’s a significant figure, it represents a decrease of about 3.6% compared to 42,514 fatalities estimated for 2022. Nevertheless, our research shows safety remains a top priority for fleet managers.

• 48% of US respondents place driver safety as a top operational priority.
• 70% of surveyed fleet managers consider the 2020 Hours of Service (HOS) regulations to have created a safer working environment for drivers.
• 48% of respondents have prioritized driver training both in the last 12 months and the 12 months to come, so it’s clear that it remains are the forefront of fleet managers’ strategy.
• 42% reported considerably fewer safety incidents since using fleet tracking software to monitor driver behavior.
• Due to tighter budgeting, there has been a drop in fleet managers’ investment in dashcams from 52% to 37%, despite them being a key tool in monitoring driver behavior for safe driving.

While adopting new technology may not be the most pressing concern for fleets in the current economic climate, it can indirectly help with cost-cutting. One method is the improvement of driver behavior and safety. As well as making the roads safer, having safer drivers means fewer accidents and less chance of vehicle damage or costly legal fees.

Having a trusty fleet technology set-up for monitoring and training purposes can help relieve you of some of the pressure of fleet safety concerns. Dash cams are one of the key components in any fleet safety strategy as they protect you from fraudulent lawsuits and surveil goings-on both in the cab and on the road.

Fleet Sustainability Statistics

While electrification is a big topic in the fleet industry, there seems to be a discrepancy between its prevalence in theory versus in practice, especially when looking at the USA rather than Northern European countries.

Tax policies in European countries such as Norway, the Netherlands, Germany and the UK have incentivized the swap from ICE (internal combustion engine) to EVs (electric vehicles). Since the US has no such federal initiative, the move towards electric vehicles is happening at a slower pace.

• 65% of our survey respondents in the US have not taken any action toward electrifying their fleet
• Separately, 22% of Verizon’s survey respondents indicated they have EVs in their fleet already, but 75% of those respondents said EVs make up less than 5% of their lineup.
• 27% of our survey respondents in the US have not yet taken any steps to reduce their carbon emissions
• 14% of our survey respondents in the US do not have any aims to become carbon neutral
• 27% of our survey respondents in the US expect to achieve carbon neutrality within the next 5-10 years.
• 24% of our survey respondents in the US have never considered switching to electric vehicles

Some have considered switching to EVs, for several reasons that have nothing to do with eco-friendliness.

• 23% of survey respondents in the US have considered switching to EVs to reduce costs
• 21% of survey respondents in the US have considered it to remain competitive in the future
• 21% of survey respondents in the US have considered switching to EVs to meet compliance standards

Even if there is a desire to switch to EVs, there are some barriers in the way of making a full switch.

• 33% consider economic viability to be the biggest barrier to commercial fleet electrification
• 27% consider the lack of charging points and infrastructural support to be the biggest barrier to commercial fleet electrification
• 22% believe that current EV models don’t meet the necessary operational requirements to carry out service in the way current vehicles do

The US government’s proposed new automobile emission standards would require vehicle manufacturers to drastically increase the number of electric vehicles they produce from 2027. The Guardian reported that two of every three new vehicles sold in the US will need to be electric, should the proposal go ahead.

• 61% of fleet operators in the US believe that the proposed new automobile emissions standards would increase the number of electric vehicles used by commercial fleets.
• The vast majority of respondents (74%) felt that the federal government should provide greater financial support and guidance to help them transition to electric vehicles.