New Survey Data from EVAI Highlights High Cost of Downtime and Persistent Gaps in Predictive Failure Analysis and TCO Management for Roadside Equipment Fleets

/EIN News/ -- JACKSON, Wyo., May 06, 2025 (GLOBE NEWSWIRE) -- EVAI, a pioneering company specializing in advanced data analytics and AI-driven solutions for fleet management, today announced the results of its latest industry survey, offering a deep look into the challenges faced by operators of equipment vehicles in tracking Total Cost of Ownership (TCO). The online survey, presented to more than 2,500 equipment fleet professionals during April, underscores an urgent need for better data integration and predictive tools, especially in light of significant financial penalties tied to vehicle downtime.

Key Findings:

1. Fleet Size and Vehicle Makeup:
   • 71% of respondents operate fleets with more than 50 vehicles.
   • 20% include road construction equipment, while others manage utility (31%), sanitation (11%), and emergency response vehicles (10%).
2. TCO Importance and Barriers:
   • 69% say TCO is extremely or very important in their fleet decision-making.
   • 92% cite barriers like inconsistent data collection, lack of integration, and limited analytical tools.
3. Tracking Methods and Insights:
   • 38% still rely on manual spreadsheets; 19% do not track TCO at all.
   • 41% have adopted fleet management software, with nearly 40% of those users reporting measurable improvements in TCO – some up to 15%.
4. Cost Drivers and Maintenance Challenges:
   • Maintenance expenses, downtime penalties, and fuel consumption are the biggest contributors to TCO.
   • Common maintenance issues include engine problems (23%) and transmission issues (28%).
5. EV Readiness and Hesitations:
   • 59% of respondents are unsure about EV transition, despite nearly half viewing electrification as promising for reducing TCO.
   • Top barriers include initial vehicle cost (68%) and maintenance and repair concerns (13%).
     

High Cost of Downtime:
The survey also revealed a largely underserved issue affecting this niche industry: downtime penalties. Roadside equipment vehicles, for example, can incur $50,000 to $60,000 per day in penalties if they are non-operational due to strict Service Level Agreements (SLAs). This level of financial exposure underscores the severe need for proactive TCO and predictive uptime management tools.

“In our conversations with industry professionals, we discovered that equipment downtime doesn’t just halt operations—it can lead to significant financial penalties, and this is something that is completely preventable” said Ian Gardner, Founder and CEO of EVAI. “This realization drove EVAI to focus on providing solutions that not only track vehicle TCO but also help prevent costly downtime. By analyzing data from ancillary on-vehicle systems like pony motors we are able to predict failures before they occur and keep vehicles in service.”

Challenges and Opportunities:
While many fleet managers understand the value of electrification and TCO analysis, the lack of real-time data, integrated systems, and predictive insights continues to hinder adoption and efficiency. Respondents also expressed a strong interest in a standardized analytical framework for managing fleet performance and cost metrics.

It is imperative that fleet managers in roadside equipment sectors have access to modern tools that provide real-time insights into their cost structures and operational health. Addressing these challenges will not only improve business performance but also strengthen the foundation for future EV adoption and sustainable fleet operations.

About EVAI:
EVAI is a pioneering company specializing in advanced data analytics and AI-driven solutions for fleet management. Our mission is to empower fleet managers with the tools and insights they need to optimize their operations, reduce costs, and transition to sustainable electric vehicle (EV) fleets. By leveraging cutting-edge technology, predictive analytics, and real-time data, EVAI provides comprehensive solutions that address the challenges of Total Cost of Ownership (TCO) tracking and EV adoption. Our innovative platform enables fleet managers to make informed decisions, enhance efficiency, and achieve their sustainability goals. For more information, visit www.goev.ai.

For more information
                    John Sternal 
                    Merit Mile 
                    561-362-8888 – office 
                    954-592-1201 – mobile 
                    jsternal@meritmile.com