Telematics is a digital technology that enables the collection and analysis of vehicle driving behavior. It has been used in fields such as safety engineering, traffic monitoring, automotive manufacturing and engineering. The global telematics market is estimated to reach approximately $70 billion by 2020. Telematics partner provide the underlying hardware and software for services like roadside assistance, car tracking in the case of theft or accident, a fitness tracker to help you keep track of your progress over time or should you be stuck at work one day without a car.
Business Benefits of Telematics
1. Fuel costs reduction
This is the most obvious benefit, but also the least recognized by many. With Telematics partner, users can proactively plan for their future trips, including when and how many times they will be driving on individual days. This information is used to optimize fuel consumption by indicating when to drive and when to park. The user can also visually verify that their vehicle is properly loaded up before leaving home or work.
2. Vehicle tracking
When a vehicle hits the road, it’s fair to say that it has been “on track” at some point before then; however, whether everyday or fleet-wide use of telematics services actually increase safety has yet to be proven. But the fact that you can know where your car is at any given time and track it for safety and security reasons is an obvious benefit.
3. Vehicle diagnostics
The Telematics device allows for the collection of valuable data which is used by fleets to better understand vehicle behavior. Knowing this information means that issues can be identified more quickly, and more importantly you can help prevent maintenance issues before they happen, reducing downtime and ultimately lowering costs. If a vehicle breaks down while being tracked by Telematics partner, fleet managers can remotely shut it down so that it doesn’t continue driving and endanger other people on the road as well as themselves.
4. Autonomous vehicles
Autonomous vehicles are a great example of how telematics can impact daily lives (both good and bad), but it’s also an important point in time for understanding what policies should be put in place to implement them. While the technical side is still very new, telematics technology has been used for years to keep track of and control fleets of vehicles, including those operated by public and private organizations. This technique could be applied to autonomous vehicles, ensuring that they remain safe at all times on the roadways.
Aside from fleet tracking and vehicle diagnostics, telematics solutions can also help keep drivers safe on the road. If your car breaks down on a highway, the next best thing to do is to shut it off, but if you’re out of service range you can’t do that anymore. Some devices allow for remote unlocking and locking of doors, as well as remote starting and stopping engine function if necessary. They both require that the unit be installed in a newer car with an active cellular connection, but could definitely save your life one day. If you get into an accident with Telematics partner monitoring in place and are unable to exit your vehicle, local emergency services can be automatically notified of your status.