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Fleets Slow down due to a challenging business environment

Fleets Slow down due to a challenging business environment

Challenging Business Environment Causes Fleets to Slow

LIVONIA (Mich.), May 10, 2022 (GLOBE NEWSWIRE — A new report by Escalent, a leading human behavior and analytics advisory company, shows that the uncertainty in today’s business climate has impacted the strategic investment decisions made by commercial fleet owners and operators. Key fleet decision-makers are tempering the urge to adopt, ranging from electrified and autonomous vehicles to data analytics technologies and telematics solutions.

These are the latest findings. Fleet Advisory Hub, a powerful insights tool that helps to understand the needs, expectations, emotions, and motivations of fleet and commercial vehicle decision makers. The Fleet Technology Index (FTI), a platform developed by Escalent in 2019, provides an annual snapshot on the state of emerging technologies. The FTI gives an analytically-based assessment of market readiness and expectations for adoption for each technology. It takes into account the perceptions of the business environment and other predictive factors.

FTI measured the adoption status for eight key technologies in 2021. These were data analytics (telematics), data analytics (BEVs), autonomous cars (AVs), and artificial intelligence (drones), as well as mobility service (Blockchain). Respondents showed less interest in adopting each of these key technologies. Data analytics, battery electric cars, and artificial intelligence showed the largest drops in their FTI scores year-over-year.

The most affected businesses by supply chain disruptions over the past 18-months have been commercial fleets, according to Lucas Lowden of Escalent, an insight consultant and program manager for Fleet Advisory Hub. Operators and fleet owners are looking at ways to preserve their businesses’ strength while incorporating new, game-changing technologies in the long-term.

Despite the decrease in FTI scores across the board compared with 2020, each technology posted a higher number than in 2019notably, prior to the pandemicdemonstrating their relative resilience and likelihood of eventual adoption.

While fleet operators are putting the brakes on increasing adoption in the immediate term, it is expected that these technologies will be implemented when they are ready.

Fleet Advisory Hub is the largest collection of fleet and commercial vehicle decision-makers insights on the market. There are currently nearly 10,000 fleets, totaling more than 800,000 vehicles.

About Fleet Advisory hub
These results are based on our 2022 FTI report on the market readiness for adoption by fleet and commercial vehicle businesses of emerging technologies. They include a subset commercial and fleet vehicle decision-makers from the Fleet Advisory hub audience. Participants were chosen from an online opt-in panel of business decision makers and interviewed online. Escalent will provide exact wording for all survey questions upon request.

About Escalent
Escalent is an award-winning advisory company that helps clients understand market and human behavior to navigate disruption and business change. Our strategies have been the catalysts of change for more than 40+ years. They guide some of the most important brands in the world. We help accelerate growth by creating seamless flows between primary, secondary, syndicated and internal business data. Our consulting and advisory services range from insights to implementation. We are able to identify actions that build brands and enhance customer experiences, encourage product innovation, and boost business productivity. Visit escalent.coSee how we help shape the brands that are changing the world.

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