Consumer telematics can be defined as high-end communication services and technologies allowing the transfer of huge amounts of data in and out of passenger cars and vans in real-time.
Consumer telematics not only provides upgraded in-vehicle services to customers, but also ensures a plethora of utilitarian features such as traffic information, local search for important places, GPS navigation, concierge facilities, and many more.
For improved tracking and monitoring, today’s passenger vehicles provide exclusive connectivity way outs. Huge permeation of smart phones and relevant governmental dictums which necessitate higher safety trials and modulated connectivity costs drive the market for telematics in several ways.
Telematics not only provides consumers with relevant information, but also makes sure they have better control of accoutrements, thereby leading to a better riding experience. A number of companies across the world are already taking recourse to advanced telematics to diagnose issues related to passenger transportation remotely. Telematics gives operators the leverage to identify a potential issue even before the customers even apprehend they had a problem.
Simultaneously, upgrading multiple systems on cars, boats, and logistics trucks through telematics that concede routine repairs to be done at a customer’s quay, without involving the punter, is no more a herculean task. At the same time, boat owners, nowadays, tend to expect the real time status information and location about their vessels on time and they want all the details to be available right on their devices, and this could have never been possible without telematics on board. This way, telematics are now becoming a must-have technology in the transportation sector, and they are considerably perking up the boat-ownership experience in more than one way.
Furthermore, dynamic sensors used in the technology would make the vehicles easier to use and allow them not only to be steered more conveniently, but also keep the conveyance out of harm’s way. This is due to the simple fact that the vehicles become highly aware of their surroundings, and accordingly, the potential risks for accidents get decreased to a substantial degree. This advanced technology, over time, should make vessels less expensive to insure.
In a wider use, the IoT will allow vehicles to tether to a wide array of relevant information, which could finally pave the way for autonomous driving experience. And, provided, the technology continues operating successfully, the day will not be so far when conversational computing will be in use in order to communicate with the passenger cars or boats just like we do today with Alexa or Siri.
Boats and other vehicles are already getting close to renewable thrust, and this drift is expected to only increase to a considerable degree. As battery and charging infrastructure further develop, electric impulsion will become an optimal choice. Even, there are companies that sell electric boats along with developing hydrogen fuel cell vessels.
The growing demand for vehicle connectivity is projected to remain strong in the next few years. Especially, as new vehicles are also going to be shipped in the next five-six years, the prospects of embedded connectivity have also inflated with a full sway. At the same time, half of these vehicles are also expected to have an active infotainment subscription.
Incorporation of embedded vehicle connectivity is snowballing at a rapid pace and is meant to become quite pervasive in the coming decade. Connected infotainment services, simultaneously, strive to gain huge traction, especially with subscription churn duties holding out to around 90 percent in mass market prototypes post free trial period.
According to Allied Market Research, the global consumer telematics market is anticipated to grow at a significant CAGR from 2021 to 2030. In the last few years, there have been a lot of innovations in passenger cars. At the same time, several technological agreements and partnershipshave been incorporated by the frontrunners in the industry, which have been helpful to perk up their market share.
Here, it’s worth stating that the outbreak of COVID-19 had a negative impact on the transportation sector, as travelling on passenger vehicles was almost barred, to detain the spread of corona virus, in the majority of countries, especially during the initial phase. However, as the government bodies have come up with relaxations on the existing regulations, and mass inoculation drives have been initiated in the majority of countries, the market is expected to come back to normalcy soon.
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By Koyel Ghosh
Koyel Ghosh is a blogger with a strong passion and enjoys writing on miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest for creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last four years.