CLOUD & CYBER
THE FUTURE OF TELEMATICS IN
AN AUTOMATED WORLD
As connectivity increases , the role of telematics has expanded exponentially . But will it become a mainstream option ?
WRITTEN BY : JOANNA ENGLAND
The telematics sector is on a massive growth trajectory , and reports show that it will have a global value of $ 3.56bn by 2026 .
Indeed , rising consumer demand for high connectivity and intelligence within their vehicles , along with increasing government initiatives to encourage telematics services in their respective countries , are all contributing to the growth of the telematics market size .
The sector is also being driven forward by the advent of 5G , advances in electrical engineering , vehicle technology and AI as the automobile industry becomes further integrated with the IoT .
This cutting-edge technology is a combination of informatics and telecommunications and mainly operates in the fleet management sector .
Commonly known as black box technology , telematics works by sending information directly from the vehicle to the cloud , where it is aggregated , and insights are created for companies that use the data to track the efficiency , safety and activities of their fleet .
These valuable insights result in streamlined processes as well as lower-cost insurance premiums and faster claims settlements .
80 July 2021