After speaking with representatives at the Mojio booth, we realized that the technology they created could be extended to enable management of large vehicle fleets. By using their existing API, we could extend their code to enhance the way vehicular fleet companies track their vehicles. A few benefits of this include:
- Companies would be able to more accurately track the distances their vehicles are travelling. 2) Set flags to inform them if their vehicles are travelling more than a certain distance per day (useful for rental car companies). 3) Determine better routes for gas conservation (useful for busses).
Ultimately, we believe this could greatly enhance the way companies with vehicle fleets run and manage their inventory, which could lead to greater savings, more profit, and a scalable online management system. These possibilities are what inspired our team’s project.
Our target user would be the management level employees and executives of companies that rely on large sets of vehicles to run their business. This includes corporations such as rental cars, busses, truck deliveries, taxis, and postal land deliveries (FedEx, for example). This web application would be provided for free assuming the company agrees to purchase a Mojio device for each (or most) of their vehicles. As such, the estimated revenue could be roughly $150 (the current expected price of a Mojio) multiplied by the number of vehicles in various company fleets. With a rough estimate of around 200,000 taxis in North America alone, and approximately 160,000 rental cars, that is 360,000*150 = $54 Million. That isn’t taking into account the rest of the world, or the other types of vehicle fleet companies listed above. There is a huge potential market for this type of service, and an all-encompassing, complementary web application to tie the management aspect and hardware together could lead to such revenues.
In general, the fact that we took an API and simulator that worked best with only one vehicle, and we were able to scale that into a web service that incorporated its functionality into a large fleet of vehicles, is one factor that we’re proud of having accomplished. Additionally, being able to alert managers of problem vehicles and combine this all into an almost-market-ready (UI needs work) product in 20 hours is something we’re quite proud of.
Challenge Post URL: http://challengepost.com/software/fleetaware