New research indicates that the trucking industries in North America and Europe are increasingly facing a shortage of skilled drivers and many are apprehensive about the economic outlook. According to the study “North America and Europe Commercial Vehicle TPMS and RFID Market, Forecast to 2025″ published by ResearchAndMarkets.com, fleets are expected to begin focusing in on their uses of TPMS and RFID in order to cut costs.
Total cost of ownership (TCO), downtime reduction, regulation compliance, driver shortage, and equipment utilization are emerging as the primary reasons fleet managers are adopting advanced truck technologies.
In addition, with emission regulations likely to be tightened in North America and Europe, fleets will look to adopt fuel-efficient technologies that deliver value-added benefits, such as safety and increased tire life. Fleets are recognizing the multiple ways in which tire pressure monitoring systems (TPMS) can lower TCO and extend tire life. However, the high initial investments and maintenance costs of the system are proving to be major barriers to TPMS adoption. These devices have not been made compulsory in all developed markets yet, but they may become standard in the medium to long term, according to the report.
Consumer research shows that up to 35% of overall fleets surveyed in North America will adopt TPMS this year. In the commercial vehicle segment, trailers in North America and Europe, and vehicles used in the agriculture segment in the off-highway sector in both regions, are expected to witness the maximum penetration of TPMS by 2025.
As capacity utilization challenges intensify, monitoring of mobile resources will be one of the top priorities for fleets. The rising importance of mobile resource management, including cargo monitoring, and production efficiency enhancement will aid the growth of radio frequency identification (RFID) in the commercial vehicle industry according to the report.
RFID suppliers must make the most of the higher awareness of the benefits of asset tracking and fuel management in enhancing the overall TCO and efficiency. Reefers, dry boxes and curtain sliders will be the biggest adopters of RFID in trailers as cargo monitoring and temperature sensing become important parameters in fleet management. Suppliers will especially focus on RFID applications in asset management, and fuel cards will emerge as critical applications.
For more information about this report visit https://www.researchandmarkets.com/research/q8x6k2/north_america_and?w=4
