A recent report by Escalent reveals that fleet companies are embracing advanced technologies post-pandemic, with artificial intelligence driving significant growth. However, challenges remain for battery electric vehicles and autonomous vehicles due to safety concerns.
June 26, 2024, Livonia, Mich. — Fleet company sales have rallied to or exceeded pre-pandemic levels, with 52% of fleet decision-makers reporting a return to normal business operations, as per data from Escalent, a data analytics and advisory firm. The Fleet Technology Index (FTI), reflecting market readiness for forward-looking fleet technologies, has seen a 39% rise from a score of 21.4 in 2020 to 29.7 in 2024.
Emerging technologies like artificial intelligence, drones, mobility services, and blockchain have experienced a 43% increase in their FTI from 16.6 to 23.7 over the same period. AI is leading this growth with a 75% increase in its index score since 2020. Core technologies, including data analytics, telematics, battery electric vehicles (BEVs), and autonomous vehicles (AVs), have a 35% rise in FTI, now at 35.6, up from 26.3 in 2020.
Despite the technological advancements, the BEV index has faced an 8% year-over-year decline, with a 16% reduction in companies planning to invest in BEVs in the next six months. The readiness for AVs has similarly receded, remaining flat since 2022 due to safety concerns.
These insights are part of the Fleet Advisory Hub™, which provides an annual snapshot of fleet technology adoption expectations. The program underscores the optimism in integrating data analytics, telematics, and AI, driven predominantly by larger fleets. The study is based on nearly 12,000 fleets representing over one million vehicles.
Fleet Advisory Hub™ is developed by Escalent, a firm with over 40 years of experience in data analytics and business strategy. For further details, visit escalent.co.
