Growth opportunities for your GPS Tracking business abound.
There are over 12 million commercial vehicles registered in the US alone. In Latin America, the number approaches 20 million. Today, only a small percentage of these vehicles are using fleet management software. But this is set to change. A report from Berg Insight projects the number of fleet management systems in active use in the North American market will reach 3.8 million units by 2015 – growing at a rate of 12% per year. In Latin America, it’s expected to grow to 2.3 million units – at an astounding growth rate of over 20% per year.
So what does this mean for GPS tracking service providers? It means there is a large untapped market of potential customers out there and significant growth potential for their own business. GPS tracking software as a fleet management tool is about much more than just location. While location monitoring is of vital importance there are other, equally valuable pieces of data that can be collected from GPS tracking software and used to help your fleet management clients. Fleet managers using a GPS tracking solution can:
- Increase productivity. Know their vehicles' locations and choose the most efficient routes.
- Reduce fuel costs. Understand how inefficient routes or excessive speeding are affecting their fuel costs.
- Improve driver safety. Panic buttons keep drivers secure. Knowing when a vehicle is stranded on the side of the road without cell phone service keeps drivers safe.
- Provide better customer service. Faster service means happier customers.
GPS tracking service quickly pays for itself with increased productivity, reduced costs and improved customer service. As fleet owners begin to better understand these positive impacts to their bottom line, more are going to begin adding the service to their bag of fleet management tools. For entrepreneurs looking to join a growing industry with a large potential target customer, starting a GPS tracking software business is a no-brainer.
If you're already a GPS service provider powered by Position Logic, use these benefits to start discussion with fleet managers who are not (yet!) your clients. If you're thinking about switching your GPS platform provider or want to get a piece of this huge pie by starting your own GPS tracking business, request a demo of our full-featured GPS tracking platform and see the power that we can bring to bear in rapidly getting your business to the top.