Are you looking to update your fleet operations in the new year? Are you taking into account all of the various trucking statistics that are out there to help inform your decisions? As a fleet manager or operations manager, it is critical that you stay informed on key trends and developments in the transportation industry. In our 2022 fleet facts and statistics blog, we discussed reducing unwanted costs, labor safety, and making cost-effective decisions. Today’s post will explore some of the most important trucking facts and figures for 2023, so read on to develop an understanding of what lies ahead!
Fleet Management Statistics and Trucking Industry Facts
The trucking market is significant, as the industry moves about 72.5 percent of America’s freight by weight. In 2021, the trucking industry earned $875.5 billion, and 34 percent of freight trucking budgets went toward drivers’ wages. As the trucking industry continues to grow and evolve, the challenges facing fleet managers have also shifted. Challenges like driver shortages and retention, compliance and safety, and increasing fuel prices are just the highlights that continue into the new year. At the time of this publication, the transportation industry is short 80,000 drivers, which is predicted to rise to 160,000 by 2030. In an effort to retain drivers, fleet and safety managers are looking to invest in their safety culture to better protect their drivers and create a safer working environment. According to FMCSA Carrier Safety Ratings, 1,604 carriers had unsatisfactory safety ratings, and 43,407 had satisfactory safety ratings. These scores are more than just a number. They reflect where a majority of a business’s budget goes, how vehicle operations are handled, and, most importantly, how a business values the safety of its drivers.
Technology in the Fleet Industry Statistics
Fleet managers are making the move to adopt AI technology to help keep their drivers safe and better manage their businesses. 93 percent of managers have expressed they’d be willing to invest in smart technologies that are equipped with features that can save work/time. Many in the fleet industry are finding that AI-powered technology can help managers tackle fleet operations and help manage costs more efficiently. The research firm MarketsandMarkets estimates that the AI market will grow within the trucking industry by 18% between 2017 and 2030. AI-powered solutions have helped fleets of any size gain better insight into vehicle telematics and drivers’ behavior. It was found that 57 percent of fleet managers who use telematics and GPS tracking saw effective results in improving fleet safety and operations. As the fleet industry grows, the need for smart management solutions will continue to grow with it.
Accident Statistics and Causes
Fleet drivers face high risks on the road on a daily basis. A 2022 fleet safety report found an average of 4.5 accidents per driver occur every year. In addition to drivers being injured or worse in an accident, a company can face a major blow to its operating budget. The average accident can cost a business between $16,000 and $75,000. To keep their drivers safe on the road and to save on costs, fleet managers are identifying and creating solutions to the causes of these accidents.
The top causes of an accident for drivers are:
- Distracted driving.
- Driving while fatigued.
- Speeding and driving recklessly.
- Failing to train drivers properly.
In 2020, distracted driving was responsible for 38,824 deaths. Most fleet managers are more concerned about other drivers being distracted on the road and putting their fleet drivers at risk. Also, since drivers have to be on the road for long periods, fatigue has been one of the top causes of an accident. The National Highway Traffic Safety Administration (NHTSA) reports an estimated 100,000 crashes each year are caused primarily by drowsy driving. Making sure drivers take their breaks is just one tip fleet managers implement to help their drivers prevent fatigue while driving.
The main solution that has proven to help fleet managers mitigate risk is by training their drivers and creating an effective safety program. Preparing drivers for the risks they face on the road, how their behavior either adds to or mitigates that risk, and recognizing positive safe driving behavior has proven to enhance the safety of drivers and improve overall fleet safety operations.
Final Thoughts
As a fleet manager, it’s your job to keep up with the latest industry news and statistics. By staying informed, you can make decisions that will help improve the safety of your drivers and trucks. The trucking industry is ever-changing, and new technology is constantly being developed to help improve safety on the roads.
Are you looking for fleet management solutions that will help you take on the new year? Explore Netradyne’s smart solution to enhance your overall fleet operations.
