Should Your Business Be Using Telematics?

If you’re looking to grow your business, it’s important to review how telematics may be able to help. Depending on what your current and future needs are, telematics solutions that work to optimize efforts while boosting efficiency, productivity and safety, may be exactly what you need.

Click on the image below to learn more about how adopting new technology could in fact be what your business needs to move forward.

New Partnership: Working With Samsara To Better Help Fleets

As the needs of businesses are continually evolving, it’s critical for organizations to stay on top of industry trends. This is amplified with it comes to the IoT and telematics sector as new tools and solutions are always transforming. With this in mind, GoFleet is excited to partner with Samsara! This partnership allows us to expand our solutions offerings to better help businesses stay efficient, safe and sustainable.

 

Partnership With Samsara

 

With Samsara’s help, we will now offer additional fleet management, asset tracking, camera and safety solutions. The core of these Samara offerings will provide businesses with end-to-end and cost-effective solutions that are billed monthly. In the past, Samsara has been highlighted to help those within various industries such as transportation and logistics, food and beverage, as well as state and local government. 

 

Fleet Management Solution 

 

Samsara offers end-to-end fleet management solutions that many businesses may find of interest as they offer a modern platform with real-time visibility in addition to AI-powered analytics. As the deadline for drivers is looming closer (or has already passed) for fleets to adopt innovative tools such as electronic logging devices, it’s critical for managers to find the right device for their needs as soon as possible. It’s important to note that Samsara’s fleet management solutions are able to connect to third party systems to improve real-time data and visibility efforts.

Learn more here: https://www.gofleet.com/product/samsara-gateway-gps-system/

 

Camera And Safety Solution

 

Samsara has numerous camera and safety solutions that fleets can take advantage of. Among the basic features of being able to collect video footage, Samsara dashcams and sensors can leverage computer vision. This allows it to automatically identify unsafe driving behaviour, offer in-cab voice coaching and conduct automatic upload. All of the features truly pushing businesses forward to a safer future. 

Learn more here: https://www.gofleet.com/product/samsara-ai-dash-cams-for-fleets/

 

Asset Tracking 

 

Lastly, Samsara offers various tracking options for fleets. Apart from offering basic trailer tracking to increase GPS visibility of your team, Samsara also offers wireless reefer and asset tracking products. So whether you’re looking to stay compliant to critical temperature monitoring regulations or monitoring where costly equipment is throughout the day, it can be done. 

Learn more here: https://www.gofleet.com/product/samsara-ag24-trailer-tracker/ 

 

If you’re interested to learn more about our partnership with Samsara, and how it may benefit your new fleet management needs, contact us today!

Common IoT Frustrations After Implementing New Technology

When a business adopts a new technology or tries a new strategy, sometimes the change can provoke frustration. This is because some employees may struggle to see the value in the change or employees may prefer to complete work the way they’ve always known. However, it’s important to remember that new technology is critical for businesses that are looking to grow as it drives new levels of success. So with this being said, managers must do everything they can to ensure a smooth transition of adopting new technology. When discussing the adoption of IoT solutions, managers must do what they can to limit common IoT frustrations among their teams.

 

Common IoT Frustrations & Possible Solutions

 

Having New Quantities of Data

When new IoT solutions are deployed, businesses can struggle and become frustrated about what to do with the vast quantities of data that they now have. This frustration is amplified when there is no guidance or direction as teams can become overwhelmed or unsure of their work. So whenever a business implements a new technology, it is always recommended for management to take advantage of the training and support available. Regardless of if managers feel as though their team can do so without it, having additional guidance about how to use the tool can help ensure that employees are not only using it properly but using it to its fullest potential.

 

Service Interruptions and Outages

When it comes to the service of your IoT solutions, there are concerns that there will be a lack of service with the technology. This comes from the fear that with any new computerized tool, there could be periods where it just doesn’t work. While this is a common IoT frustration that many could encounter for various reasons, it’s critical for businesses to do what they can to keep this frustration at a minimum. This includes managers or decision-makers to do their due diligence and research the company they’re about to work with. This will ensure that businesses are working with a service provider who is known to have uninterrupted service, generally fast log times and quick customer service response times.

 

Lack of Acceptance

One final frustration that many companies face is the frustration of team members not being open to adopting new tools. As many teams prefer to stick to routines, sometimes it can make implementing new technology difficult. And when teams are reluctant to take on new ways of working, it can make it that much harder for management to run departments or for organizations to grow. So management should always be encouraging and transparent about what the technology can do for employees and the company as a whole. Often, this can help encourage acceptance.

For example, at first, the implementation of new digital form solutions like ZenduForms may not be widely accepted by employees as it can appear to be more of a hassle to learn. However, after the right training is completed and employees are shown how it can help them and the company, it is likely that it will be more widely accepted. Interested to learn more about how ZenduForms could benefit your business? Contact our sales team to learn more today!

Every business will feel growing pains at some point, especially when new tools are continuously introduced. However, it’s important to anticipate such frustrations related to the new tools and for managers to do what they can to limit them. Not only does this require management to ensure that the proper training is completed when a new IoT tool is introduced and to be enthusiastic for the growth it could allow, but to do their due diligence while researching the success of the service provider. Keeping these three IoT frustrations and solutions in mind will not only make the transition to innovation easier, but will help ensure success rather than failure.

Taking Your Fleet Telematics to the Next Level

With basic telematics implemented into your fleet, you are now able to track the location, movement and speed of all of your vehicles, which helps your organization increase efficiencies, and effectively, reduce wasted time and improve costs.

So, what comes next?

Advanced Fleet Tracking
Once you have the basics in place, you can start to dive deeper into telematics technology in order to really fine tune and optimize your fleet operation.

Check out these major benefits your company can gain by implementing advanced fleet telematics solutions.

Increased Safety
By monitoring driver behaviour – things such as how fast your driver is driving and how aggressive their driving may be – you can use technology that allows you to talk to the driver and coach them through safer driving practices, thereby increasing safety for them and for your vehicle.

It has been shown that drivers who are aware that their driving habits are being monitored, are more apt to perform safer behaviour which not only increases their safety, but also reduces accidents and damage to vehicles and freight.

Increased Efficiencies
By using real time communication as an add-on to your basic telematics, and adding in some routing apps, you can manage driver routes more efficiently – if there is an accident, you would be able to re-route the driver and eliminate wasted time having them stuck in traffic with high priority loads on the vehicle.

By using some of these type of add-ons to your basic telematics, adding a few minutes more to your driver’s HOS (Hours of Service) can really increase your fleet efficiency and delivery rate.

Reduce Operating Costs
In being able to track even the smallest things, such as idling time and minimizing it, a fleet can increase savings by reducing fuel costs. Other things that can be looked at are tracking at a more granular level, such as live movements on a map, maps routing, stopping vehicles, accidents and who’s responsible, which allows for increased productivity thereby reducing costs.

Optimize Vehicle Performance
With advanced telematics, sensors can send out alerts about engine issues and other diagnostic problems. Further to that, the data can be used in a predictive manner to determine when service should happen on a vehicle and allow for advanced planning in order to ensure as much uptime for the fleet as possible and manage the expenses related to repairs.

Reduce your Carbon Footprint
It’s a hot topic these days more and more companies realize that not only is this good for business, it’s good for the planet as well. By reducing your fleet’s idling time and decreasing speeding (thereby reducing the amount of exhaust and CO2), not only are you increasing the safety of your fleet and drivers, increasing your efficiencies and reducing your costs, you are also helping to do your part in reducing emissions in the air for our future generation.

Streamline Compliance
With the Canadian ELD mandated for June 21st, 2020, it is imperative that fleets ensure they are compliant and implementing advanced telematics not only ensures this but provides many other benefits previously mentioned. In addition to the benefits, the cost of not being compliant is expensive and can be avoided with the correct telematics solutions in place.

Do you need to upgrade your telematics plan for advanced fleet tracking?
Some features are already built into your tracking device that collects the data and some solutions require you to step up to the next level of offered services and products.

In order to get the most out of your fleet telematics so that you can save your company time, money and increase efficiencies and safety, give GoFleet a call. We are here to help create a customized and fully integrated telematics solution that is specific to your needs and lets you get the most value for your money.

Advanced fleet tracking is much more than GPS services and with the telematics of the future, there are and will be so much more you can do in order to continually create the best fleet management company you can envision.

GoFleet – Connected Technology. Smarter Solutions.
Discover more about GoFleet and its Telematics Services

How Telematics is Changing Fleet Management Systems

Introducing Telematics

Telematics systems provide complete fleet management solutions for businesses big and small. Installing telematics fleet management systems enables the complete tracking of vehicles from optimizing vehicle maintenance to improving customer service. Telematics fleet management solutions benefit businesses by improving efficiency, lowering operating costs, and promoting better driver safety.

Vehicle telematics systems use a combination of a GPS receiver, a telematics device, and communication devices. These devices monitor and relay important information on vehicle use. In some ways, you could call telematics systems the “black box” of the vehicle industry.

In this article, you will learn exactly what a telematics system is. You will also find out how these technological solutions can improve corporate fleet management. 

What is Telematics?

The term “telematics” is a combination of telecommunications and informatics. In the context of fleet management systems, telematics allows information to be sent from vehicles to a centralized database. Fleet managers are then able to analyze and process the information to develop transport solutions and optimize the use of company’s resources.

The main industries that benefit from telematics solutions are logistic companies, insurance companies, and businesses who operate commercial fleet vehicles.

For example, vehicle telematics systems can record information such as location, driving speed, idling time, fuel consumption, tire pressure, vehicle faults, and driving habits. Business owners and managers are then able to schedule vehicle maintenance, use resources more efficiently, and improve their employee’s driving habits.

As a result of these reports and diagnostics, investing in telematics systems can result in great savings in transport operating costs.

How Does Telematics Work?

The main components for a telematics system in a car or other vehicle to work are:

  • a GPS telematics antenna
  • a telematics device that includes an accelerometer
  • a SIM card to transmit data over a cellular network

Due to these components, telematics captures areas such as productivity, driving habits, and diagnostics.

Productivity

The GPS telematics system shows in real-time and records data such as speed, location, and types of roads the driver uses.

Driving Habits

In addition to monitoring productivity, telematics devices uses sensors to record driving habit data. For example, suburban fleets may use telematics to monitor and reduce risky driving habits such as harsh braking, harsh cornering, fast acceleration and speeding.

Diagnostics

Because the vehicle telematics “black box” is connected to the vehicle’s onboard computer, diagnostic data is also recorded as part of the intelligent telematics reporting. 

Telematics Solutions for Fleet Management

Why are fleet management telematics a standard part of the industry? The biggest reason is because telematics goes hand-in-hand with effective fleet management.

Fleet managers are responsible for goals such as optimizing fleet resources, improving customer service, increasing safety, and monitoring maintenance. Telematics provides data for fleet managers to realize all of those goals.

 

Telematics Navigation: Vehicle and Trailer Tracking

There are multiple ways that GPS telematics can be used as tracking software for fleet management solutions.

For example, logistics companies can work out the best route to take to increase delivery time or maximize fuel efficiency. Or, real-time GPS fleet tracking can help dispatch the nearest driver to a job or incident (in the case of emergency services).

However, vehicle tracking is also useful to locate stolen cars, trucks or trailers. In fact, if a trailer or vehicle is moved without authorization, an alert can be sent instantly to the fleet manager.

 

Telematics in Cars: Maintenance Monitoring

Telematics devices improves maintenance schedules and extends vehicle lifespans.

For example, by using fleet telematics solutions, businesses can schedule preventative maintenance and track engine hours. Diagnostic alerts can also help repair small issues before they develop into major costly repairs.

Due to the fact that vehicle telematics helps keep cars in a safe operating condition, they also go a long way to improving road safety.

 

Fleet Telematics: Safety Reporting

By analyzing reports on driving behavior, business owners can minimize the risks caused by poor driving habits.

Apart from telematics monitoring driver behavior, there are many telematics device add-ons that can boost safety. For example, devices that prevent driving distractions, collision avoidance systems, and lone worker safety solutions all help improve safety.

Telematics solutions are also effective to increase productivity and safety in large industrial vehicles. For example, the Go RUGGED telematics device has been specifically designed for vehicles such as farm machinery, off-road vehicles, dump trucks, and mining equipment.

It is also good to remember that bad driving habits don’t just put other road users at risk. They also shorten the life cycle of the car by putting the vehicle under unnecessary wear and tear. Fast acceleration and harsh braking also negatively impact on fuel efficiency.

In the event of an accident, GPS telematics devices along with dash cams can provide accurate data to reconstruct the event. This can help to save money on falsified insurance claims. What’s more, by installing telematics devices on fleet cars, companies may be able to save money on insurance premiums.

 

Intelligent Telematics Solutions

Apart from being useful in tracking driver habits and optimizing fleet vehicle management, there are a number of practical ways that telematics work.

Using telematics for predicting traffic conditions can help drivers plan their best route to avoid congestion and hazards. This can not only help companies continue to provide good customer service but it can help to minimize driver stress and improve job satisfaction.

Intelligent telematics fleet solutions also save money on fuel costs. Choosing the most effective route, avoiding idling in traffic, and driving at reasonable speeds all improves fuel efficiency.  

 

Fleet Management Telematics Use Case

Lastly, let’s explore a 2019 use case. Consider one of our recent clients. Like many other fleets, they were a second-time telematics user. Also similarly to other fleets, they understand that using telematics is much more than tracking vehicle location.

For that reason, their use case was more complex. They wanted a custom solution that tracked their vehicles, actionized vehicle data, and provided rich data. As a result, our product team designed the following solution.

GO9 Device

Firstly, our product team provided the brand-new Geotab GO9 tracker – an updated version of the Geotab GO7. The client was one of the world’s first GO9 users. In addition to providing rich telematics data, the GO9 is future proof and will be able to handle future fleet management needs such as tracking electric vehicles.

Automation Software

Secondly, our product team developed and provided automation software. Automation software actionizes telematics data by assigning tasks to telematics triggers. For instance, our client used ZenduMA to automatically assign a mechanic job whenever a driver reported a vehicle defect on their DVIR.

Rich Data

Thirdly, our product team provided rich data by providing a camera solution. ZenduCAM provides valuable video footage to make sense of numerical data. For instance, our client started using footage to follow up on safety incidents and unexplained vehicle damage.

 

Key Takeaway

Hence, the key takeaway is that fleet telematics is now more than collecting vehicle data. In 2019, fleets expect telematics to provide rich data and to actionize that data into business activity.

Sources

Business Fleet

Telematics Helps Materials Placement Company Reduce Costs

Research Gate

A Telematics Application for Stolen Vehicle Recovery Using On-Device Position Fixing

2017 Was a Big Year for Electric Vehicles (Pt. 1) | Electric Truck

The electric truck, led by the big Tesla reveal, is making a big buzz!

Earlier this year, Elon Musk dazzled the audience by revealing the Tesla Semi. The Tesla Semi is Tesla’s all-electric truck and is an amazing feat for electric vehicles!

What’s with the electric vehicle buzz?

Electric vehicles are soaring in popularity. A lot of people wrote off electric cars. Just a few years ago, there was even a documentary called “Who Killed the Electric Car?”. For a long time, electric cars were slow selling and were tagged as a toy for green geeks.

This isn’t the case anymore! For instance, there are now at least 34 electric vehicles on the American market. In the last few years, engineers designed electric cars to be affordable, quick charging, and powerful.

In addition to regular people looking into electric vehicles, many fleets are doing the same. Let’s take a look at why fleets are excited about the Tesla Semi.

year of electric vehicles

Highlights on Tesla’s big electric truck reveal:

Pure electric

The Tesla Semi is fully electric! The truck can be used for both short haul and long haul jobs.

For short-haul jobs, the Tesla Semi can be used on a single charge per day. This is because its battery life has a range of 500 miles. How convenient!

What about long haul? Long-haul truckers can quickly charge their Tesla Semi throughout their route. The Tesla Semi uses Megachargers, which are mega powerful solar-powered battery chargers. As a result, truckers can fully charge their truck during their 30-minute break.

Economical

Elon Musk promises that the Tesla Semi will save money from the start. He went as far as saying that using diesel trucks would be “economic suicide”.

To Tesla’s point, a lot of people were surprised at the Tesla Semi’s affordable price tag. The trucks start at $150,000, which is in line with some diesel models.

The real savings, however, start after using the truck. The Tesla Semi only has a cost of about $0.85 per mile. This is lower than diesel trucks and rail alternatives.

Super performance

Sure, the Tesla Semi runs on electricity and might be cheaper per mile. That’s all cool, but how does the Tesla Semi perform against traditional trucks?

Alas, the Tesla Semi does not disappoint. Onlookers felt giddy about the technical specs. For example, the tractor can go from 0 to 60 mph in just 5 seconds! Musk also promised that the truck is sturdy enough to have 0 breakdowns in its first million miles.

Safety and autonomous driving

Another big part of Tesla’s reveal is autonomous driving. In addition to just being an electric truck, Musk said that the Tesla Semi can drive itself on the highway.

Indeed, to the crowd’s amazement, the Tesla Semi uses collision avoidance and lane assist technology to get the job done. These tools ensure that Tesla Semis can drive safely and avoid accidents.

Also, it allows Tesla Semis to “platoon”. Platooning is where trucks are connected together and drive in a line. As a result of platooning, driving efficiency and traffic flow is improved.

How are fleets reacting to the Tesla Semi?

The Tesla Semi is popular among fleets and will soon be on the road. Production is scheduled to start in 2019 and some fleets already committed to adding these trucks.

Just like digital products, fleets eagerly pre-ordered the Tesla Semis. Companies on the preorder list include JB Hunt, Walmart and Loblaw.

Electric vehicles are indeed alive!

Check back in for part 2 of our electric truck series, where we explore tracking for electric trucks!

Links:

Truck News: Tesla semi hits the streets

BGR: Tesla reveals pricing for the Tesla Semi and it’s surprisingly competitive

Wired: Meet the Tesla Semitruck, Elon Musk’s Most Electrifying Gamble Yet

Mashable: Tesla’s new ‘Megachargers’ will give its Semis power for 400 miles in 30 minutes

Telematics Misconceptions

Telematics can often get a bad rep – from being too expensive to being like ‘Big Brother’. In this article we will take a closer look at some of the biggest telematics misconceptions.

First misconception: All telematics technologies are the same.
The truth: There is a huge difference between telematics providers. If you do your research, you’ll see there are a ton of choices when it comes to different software, hardware, features available, reports, alerts, dashboards, and more.

Second misconception: Cheaper is better.
The truth: If you find a solution to fit your specific business needs and goals, you will gain a better ROI. Better telematics software is often more expensive for a reason – more functionality and features, reliability, top notch customer service, making for a long-term valued business partner – NOT just the basic software and hardware. Bottom line: price should not be the driving factor in your final decision.

Third misconception: Telematics is too expensive.
The truth: It’s no secret that the initial up front investment in telematics can be expensive, however, when used correctly, telematics can help a fleet save significantly more that the first initial cost. When speaking with different providers, make sure to take a look initial investment and have them show you how you’ll save more than that. Telematics is only costly when you are not getting a ROI.

Fourth misconception: All telematics solutions are scalable & will adapt to your growing business.
The truth: Unfortunately, not every solution is scalable. Fleets will often grow out of some providers because of their limited functionality. It’s important to find out about the scalability of a telematics solution when looking at different providers. Make sure they have all the capabilities you are looking for right now, as well as many other features and add-ons that will allow the solution to grow along with your business.

Fifth misconception: Using telematics will make your drivers angry.
The truth: This is probably by far the most common misconception, and unfortunately yes, some drivers may have an issue with telematics. However, most of your drivers want to do a good job and make your company money, and the right telemaatics solution will only help them do an even better job. And the small percentage of drivers who do have an issue with it? Well, in our experience, they’re the ones who are doing something wrong and don’t want you to know about it.

 

Source:
Automotive Fleet: Telematics ROI Beyond Fuel Savings

 

The Advancement of Telematics Technology

Telematics Technology

 

Your company is using Geotab’s GO devices and the MyGeotab software platform to manage your fleet, increase productivity levels, improve safety, and integrate data into other internal applications. It’s interesting to look back and see just how far telematics technology has changed and developed and how it will continue to change in the future.

Telematics of the Past

If we wind back the clock and look at how fleet management worked 10 years ago, we remember a very basic product with a GPS and position recorder. Back then an external antenna was required because GPS’s used to need direct view of the sky. Unfortunately, the external antenna was an obvious failure point. It had a long wire, connector, was always subject to interference, and was often the cause of needing installers to return to vehicles. Back then nobody was connecting into the vehicle’s OBD port. Because of this, intricate wiring had to be done in order to power the device, another failure point. Any time a wire was cut or a connection was made, the wire could break down. There was also absolutely no engine data available; for example there was no way to tell if a driver was wearing a seatbelt. Any fault lights and statuses or fuel data was completely unavailable.

Telematics Technology Device Connector

Old GPS devices had little to no expansion capabilities. They had dedicated I/O wires and possibly a serial port. Today we have come a long way from there and now have IOX expansion; there are over 30 different IOX’s that can be plugged into the Geotab GO device. Essentially, the wide variety of add-ons turns our tracking device into a very specialized data gathering computer. For example, a module that connects to the Iridium satellite network so that the device will work anywhere in the world, can be added at the same time as Mobileye integration, reefer temperature monitoring unit, and driver ID keys. The possibilities are almost endless.

Old devices were also missing an accelerometer. The accelerometer is an extremely sensitive micro machine (MEMS) that measures when you brake or accelerate too hard. It also has the capabilities to reconstruct what happened in an accident.

In the past, databases and software had to be installed in your own IT infrastructure. You also needed an expert staff member to manage the systems and install the end user software. Thankfully, today all systems are cloud-based through the web.

Initially, there were no API‘s for MyGeotab. Through the SDK, hundreds of partners are integrating data from MyGeotab into other systems like risk management, invoicing, maintenance, safety systems and route planning. There is an entire ecosystem of partners that are adding even more value to the existing Geotab solutions, in order to help customers solve business problems that are very specific to their industry that couldn’t be solved in the past.

It’s obvious new technology has brought amazing improvements to fleet management:

  • Reliability (no more cutting of wires, unreliable installs or mounting antennas)
  • Simplicity (plug & play installs in the OBD port, emailed reports, Web-based services, server rules & driver feedback)
  • New Engine Information (valuable measurements directly from the vehicle like ODO, seatbelt, fault codes & fuel consumption)
  • Expansion (new IOX’s that address virtually every use case, from weight scales to driver identification to temperature monitors)
  • API’s and Integration (automating data & connecting customers’ systems to solve any new tricky business problems)

Geotab GO Device Expansion

It’s truly amazing how far fleet management technology and telematics has come and how much it has improved fleet management. We will constantly continue to add value to how customers manage and measure their fleets.

The future holds a ton of exciting opportunities including connected vehicles, big data, and customer benchmarking.

GoFleet & Geotab are your partners at the FOREFRONT of changing fleet management. Between Geotab’s always improving technology and our incredible support staff and in house development team, we are sure to meet all custom needs to fit your business.

 

Original Article By: Niel Cawse, CEO at Geotab

http://www.geotab.com/blog/advancing-use-technology-telematics/

Remote Diagnostics with OnCommand Connection

 

Know how your fleet is performing with OnCommand Connection

 

GoFleet has created a platform for fleet managers to be in tune with their vehicles at all times. Using the Go Device, companies are able to track their vehicles in real-time, measure performance and improve business productivity through reports containing important fleet data.

Maintaining a fleet whether large or small can be challenging when drivers are not in close proximity. This includes the inability to predict drop off times, engine health and basic driver behaviours. As a solutions company, GoFleet understands the importance of constant development encouraging us to offer more than just a solution that records engine diagnostics. Our recent partnership with Navistar On-Command Connection has now allowed the solution to further notify technicians immediately giving them access to the most up-to-date data and the ability to:

  • Identify potential problems beforehand
  • Lower repair costs
  • Increase fleet uptime

How OnCommand Brings You More Service:

The Go device installed in the vehicle detects engine events and vehicle service requirements through data gained from the ECM port. When an alert is detected a message is sent to the Navistar OnCommand customer support center. An OnCommand repair advocate then identifies the closest international dealer, confirms whether the right parts/tools are available and contacts the customer to schedule a maintenance appointment.

OnCommand

There are many benefits to using the OnCommand Connection service for fleet operations. The first and foremost benefit is the ability to control operating expenses and company bottom line. These can be achieved through the following:

  • Reduce en-route events by proactively scheduling maintenance and repairs
  • Map tools that plot trucks locations, nearest dealers, hotels and local towing providers
  • Generate real-time comprehensive vehicle health reports
  • Understand fault codes quickly and easily with descriptions in plain English
  • Gain more insight with fault code actions plans that provide severity information and recommend solutions.

Learn how to maximize fleet servicing with OnCommand Connection & GoFleet.
Generate more revenue and help your customers keep their vehicles in top shape!

 

Contact 1-888-998-1122 | [email protected]

 

Continuous Telematics Growth

The Golden Age of Telematics

 

Telematics is an ever expanding and exciting field involving multiple technologies simultaneously working together to collect and present data in a useful manner for cost-savings, process, standard improvements and safety. Telematics has been around for many years, however we are now entering the ‘Golden Age’ of telematics expansion, innovation, and growth.

Industry Trends

Increase in OEM Telematics

It is estimated that 15% of all vehicles sold across the world in 2014 were equipped with OEM embedded telematics. This number is expected to grow to 50% of all new vehicles sold by 2020.

Examples of OEM telematics include:

  • Roadside Assistance/eCall
  • Vehicle Diagnostics
  • Stolen Vehicle Tracking
  • Usage Based Insurance
  • WiFi Hotspot
  • Leasing & Rental Fleet Management
  • Connected Navigation & Infotainment
  • Convenience Applications
  • Electronic Road Charging

The number of new cars sold utilizing some sort of telematics is forecasted to increase from 7 million in 2013 to over 68 million in 2020. Embedded telematics systems are expected to grow from 8 million units sold in 2013 to 54 million units by 2020. That’s a Compound Annual Growth Rate (CAGR) of 31%.

Telematics Subscriptions on the Rise

Telematics service subscription numbers are expected to grow at a CAGR of 38%. This means the amount of subscriptions will rise from 16 million in 2013 to 158 million in 2020. In the near future, the global sales of insurance telematics products are projected to grow over 2013 to 2018 at a CAGR of 80%; in 2018 the subscriber base is expected to reach 85.5 million.

 

Worldwide Growth Potential

telematics growth chart geotab
(Berg Insight Forecasts)

The large growth expectation in the telematics market indicates that within the next 10 years, most of the cars on the road will be equipped with some form of telematics. In South Africa, the number of cars with a telematic system is projected to expand to 840,000 by 2017. There is an estimated 90% of the light consumer vehicles market which currently remains untapped. The Chinese telematics market is also expected to increase 22% at the end of 2014 from 2.1 million units to 5.9 million by 2019.

 

India’s Quickly Growing Telematics Market

telematics growth chart india geotab
(Berg Insight Forecasts)

The Indian market is projected to grow at a CAGR of 31% (From 2015-2020) and CAGR of 38% (from 2020-2025).

Telematics and the Insurance Industry

A wide range of insurance companies have already begun to incorporate telematics into their policies, taking advantage of the huge data range collected by telematics devices in the following ways:

  • Pay As You Drive (PAYD): Monitor where, when and how often a vehicle is being driven. This technology can provide customized policies to suit each individual’s needs. It also can monitor unsafe driving habits and can be used to reward safe driving (deeper discounts, etc).
  • Accident Reconstruction: Determine the driver at fault during a car accident, decrease costs related to insurance fraud and gain quicker payouts to those injured
  • Vehicle Recovery: Track stolen vehicles for a better chance of quick vehicle recovery.

Check out this blog for further details on insurance discounts related to telematics devices.

Safety Benefits of Telematics Solutions

As telematics continues to advance, the benefits it can potentially provide will become even more significant. Google claims that with its driverless car technology, it will reduce the rate of traffic accidents by 90%, and Volvo claims by 2020 with its new cars it will provide an accident-free driving experience. While these benefits may be years away, telematics technologies offer multiple substantial benefits for fleet vehicles and personal vehicles alike, today.

Telematics is a tool to improve safety, boost employee morale, increase efficiency and add to the bottom line of any business. You do not want to get left behind! Get your fleet vehicles connected with telematics today! Contact us for more details so you can take advantage of the full benefits of telematics today and in the future years to come.

 

Original Article By: Boby Multani, Senior Technical Services Engineer at Geotab

http://www.geotab.com/blog/telematics-growth-the-golden-age/