Noida-based internet of things (IoT) and connectivity solutions provider Aeris Communications has partnered with automotive telematics provider Omnicomm to launch a fuel monitoring solution in India.
The monitoring solution will help companies in the logistics and transportation, construction equipment and locomotive sectors address the issue of fuel theft in their vehicle fleets.
The IoT-based solution to check fuel pilferage will be an add-on to the suite of management solutions that Aeris already provides. The suite includes features such as edge client-to-data analysis, user interface (UI) presentations, as well as insurance, leasing and finance-based software-as-a-service (SaaS) applications.
“As the price of oil increases, there is an increasing chance that your fleet could be at risk from fuel theft,” Sameer Mahapatra, country sales head for India and SAARC at Aeris Communications, said.
The fleet industry in India faces pain points such as lack of data for fleet utilisation and shortcomings in terms of safety, including addressal of fuel theft, the release said, adding that automation of fuel usage monitoring is necessary to curb overspending and siphoning off of fuel.
In a recent report by Facts and Factors Market research firm, the global IoT fleet management market is set to reach $18,858 million by 2025, with a compound annual growth rate (CAGR) of 21.6% in the 2019-2025 period.
Apart from usage in fuel monitoring, the IoT sensors can also be used in fleet management to track real time data, provide preventive maintenance alerts, help improve engine performance and gain insights that could be translated into actionable intelligence. Fleet management helps companies streamline operations with better scheduling, time management, paperwork and increased invoicing accuracy.