Leverage Auto ‘Mobile’ Data to Boost Business

M2M technologies would certainly open up a plethora of opportunities and conveniences for consumers and a variety of businesses

With about 7.5 mn units in service worldwide out of the total available market close to 300 mn commercial vehicles, the telematics industry shows huge potential and is now entering a major consolidation and acquisitions period, especially as we see new verticals addressing personal vehicles also.

The role of computing technologies, internet, and connectivity are becoming all the more pervasive. Today, more and more devices are being connected to each other via wireless networks or the internet. A similar revolution is slowly but certainly taking place in the automotive and insurance sectors. Today, cars are becoming increasingly intelligent with car manufacturers offering features that were unheard in the past.

Today, modern cars come with small computers and electronic gadgetry that control all the vital functions of the vehicle. This includes aspects such as engine performance, fuel consumption, engine function information, safety, braking, stability, location based information, etc. This is all based on sensors and other electronic equipment which continuously monitor and process information from different parts of the vehicle.

However all this information currently resides within the vehicle and can be only read and analyzed when a vehicle is parked inside a service center. What if there was a way to remotely have access to all these information that is being generated within a vehicle—it would certainly open up a plethora of opportunities and conveniences for consumers and a variety of businesses which can gain significantly.

Benefits of M2M Technologies

This is quite possible today with the adoption of wireless M2M (Machine to Machine) technologies, which have the power to collect the information within a vehicle and wirelessly (using the existing GSM and CMMA networks) transmit it to different locations, enabling a variety of applications that deliver numerous benefits.

Commonly known as ‘TELEMATICS’ today, these applications are delivering business efficiencies across a variety of industries. Amongst numerous industries, fleet management and vehicle leasing companies are the ones that are deriving significant business efficiencies due to different telematic’s applications.

The telematics market is still incredibly fragmented and vertically integrated. Mespite these characteristics, the telematics industry has been steadily growing and is now reaching a degree of maturity which translates into huge consequences for the market.

For instance, one of the key concerns