The effective features of automotive telematics are defining the future of automotive remote diagnostics, fleet management, vehicle tracking, and more. The transforming automotive infrastructure along with the continual developments sited in the automotive space is opening new profitable avenues for the companies operating in the automotive telematics market. Automotive telematics is gaining tremendous significance as they provide preventive maintenance for vehicles and minimize the chances of wear and tear. Moreover, wear and tear of the automotive components can also be minimized with the help of automotive telematics that provides vital information related to the vehicle. The companies operating in the automotive telematics market are witnessing promising potential in the Asia Pacific region.
IoT-Powered Automotive Telematics Moving at a Fast Pace
Given that the automotive sector continues to benefit from key technological advancements, cutting-edge technologies are gaining significant ground in supporting the overall performance of the vehicle. IoT enabled systems are becoming a crucial aspect for automakers to implement as they enable better responsiveness of vehicles.
In light of this, to meet the demand for high-performance, secure automotive telematics solutions powered by IoT, Gemalto collaborated with GlobalmatiX, a subsidiary of Softing AG to provide an innovative solution that outshined in the demanding Porsche GT4 Cup championship race. The GlobalmatiX xTCU (Telematic Control Unit) is not just designed for high-performance racecars but can also connect and monitor vehicles in real-time. The solution is suitable for a number of applications including driver safety systems, vehicle tracking applications, fleet management, predictive maintenance, and onboard infotainment.
Collaborations Uphold the Progress of Automotive Telematics Market
A number of strategic activities represent promising opportunities, particularly in Asia, with which companies aim to gain major profitability. The increasing implementation of automotive telematics is further offerings key benefits to the companies operating in the automotive telematics market.
Automotive component producer—Pricol and a developer of Mobile Resource Management (MRM) solutions, Pointer Telocation announced plans to enter in a joint venture for providing IoT solutions and advanced telematics in India along with other South East Asian countries. Officials at Pricol believe that the amalgamation of Pricol’s manufacturing expertise with Pointer’s state-of-the-art technology, global presence, and extensive R&D workforce would enable them to be a leading player in the Asian marketplace in an attempt to offer high-level telematics solutions.
Toyota Motor Asia Pacific recently strengthened its partnership with Singapore-based Grab, in light of which, the former would offer Total-care Service for 1500 Toyota vehicles owned by Grab in Singapore. On account of this partnership, Aioi Nissay Dowa Insurance—an insurance firm affiliated with Toyota also planned to offer automotive insurance based on telematics to Grab.
Shifting Focus towards Vehicle Telematics Triggering Revolutions
The emphasis given to digitalization along with the management of vehicle fleet, maintenance, and monitoring has bolstered the implementation of automotive telematics. Key innovations and developments witnessed across the automotive telematics landscape are likely to boost the market growth.
Continental AG, a leading automotive manufacturer recently announced its active contribution in the areas of fleet management systems designed for the construction sector, with major emphasis on telematics and digitalization. Company officials state that by working with Continental on fleet management and telematics can make use of equipment better, coordinate job assignments optimally and reduce maintenance.
Apart from new solutions, the increasing deployment of solutions is also boosting the market growth. Tata Motors recently installed 100,000 advanced telematics systems on its fleet of commercial vehicles. According to the company, it was the first OEM in India to embrace this technology and integrate it into its vehicles in India.
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