Impact of Latest Technology On Construction Equipment Rental
As the spotlight shines stronger on construction technology companies, it is clear that the industry is undergoing a transformation. Rental companies can now accomplish more with less since their equipment is becoming smarter.
- Rental commerce and operations are being digitized.
- Telematics adoption for better preventative maintenance.
- VR/AR advancement for improved training.
- For a safer inspection and operation, semi-autonomous equipment is to be used.
- Sales of telehandlers are increasing, resulting in smaller fleets and higher utilization.
- Hybrid and electric fleets are being adopted at a rapid rate.
Digitization in its entirety
Before speaking with a salesman, end users want to get as much done on their own as possible. In fact, across all other B2B transactions, buyers prefer to self-educate over speaking with a sales agent by a proportion of three to one. This fashion has found its way into equipment. Digitization of sales and operations is welcomed as worker enablement rather than staff replacement by the most effective rental organizations.
CRM systems help Equipment Rental in Maryland by keeping track of the types of clients the rental companies serve and the frequency with which they transact in order to make better fleet composition decisions. Rental software is evolving, making asset utilization and fleet rotation easier to monitor. Much further than the use of currently available solutions, comprehensive vertical integration across each silo, from equipment rental e-commerce to asset management, customer relationship management, and project management, is the future of construction technology.
Telematics was previously primarily used to track equipment. Everything can now be monitored, from battery levels to hydraulic fluid levels, to assist prevent repairs. Telematics is also being integrated into equipment components.
With the volume of data collected from equipment and fully integrated data visualization tools, the way rental companies think about acquiring, administering, and maintaining their equipment will begin to alter. Predictive part ordering, artificial intelligence-powered fleet composition recommendations, and automatic order fulfillment will all become a reality with a completely vertically connected ecosystem.
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Training With AR/VR
Virtual Reality and Augmented Reality are relatively new to the business, but they are swiftly changing the way training is done. This enables trainers to securely place trainees in high-risk scenarios in order to teach safety skills without putting them in danger. The industry is continuing to innovate in the area of operator safety, and adoption is expected to rise.
There is equipment that lets you drive, steer, and load using a mobile app. Operators traveling in confined passages or difficult loading and unloading conditions will benefit from this added degree of safety and versatility. Autonomous equipment is already being used by some of the larger equipment rental businesses. Autonomous equipment is an attractive possibility because of the economic and safety benefits, as well as the labor crisis in construction.
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Increase In Telehandlers
Telehandlers, with their growing variety of attachments, have quickly filled product shortages and established themselves as the first on and last off job sites. More and more jack-of-all-trades devices are entering the market, potentially displacing a lot of crane work in urban areas. It's difficult to deny the trend toward telehandlers. This could indicate that equipment rental companies, particularly independents, are now able to do more with less, focusing on equipment with greater utility rather than a specialty.
Electric & Hybrid Fleets
Electric and hybrid fleets are becoming increasingly popular. The size of hybrid and electric vehicles is also increasing. With tough terrain lifts and telehandlers already on the market, electric applications are likely to expand into larger classes.
It's no secret that technological advancements are transforming the construction business. The construction business, which is regarded as one of technology's ultimate frontiers, has witnessed the most venture capital activity of any technology area.
Contact RentEquip if you want to rent the latest and cutting-edge technology Rental Equipment in Prince Frederick MD.
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