The latest telematics market trends continue to point towards providing in-car connectivity and by 2016 2G network connectivity will be a thing of the past. Therefore, it goes without saying that there’s a huge market potential that still remains untapped as far as the telematics ecosystem is concerned.
In the recent past, we have seen that providing connected cars has taken a new momentum and every car maker is gearing up to facilitate connectivity that offers powerful network technologies even as faster networks like 3G and 4G are emerging. For example technologies supporting real-time driver safety instruction, fleet maintenance programs, including fuel and productivity tools are now available worldwide for vehicle users to peruse – all this at the same price points as previous years’ tech.
According to Ernst & Young, by the year 2025 the market penetration statistics is expected to be 88% for new cars. This is a new paradigm shift as far as in-car connectivity of integrated telematics is concerned. In the US alone, by 2025, 16 million new cars are going to be equipped with embedded telematics. Let’s quickly take a look at the hottest trends in the exciting world of telematics today.
Top Market Trend 1: Mapping to a Safer, More Efficient Intuitive Mechanization
In the rapidly evolving world of telematics, the topmost exciting innovations like GPS tracking or map navigation systems alone have begun to empower both managers and drivers to associate with online platforms and encourage real-time communication on the go.
Although the GPS tracking system took hold about 10-12 years ago and has quickly become a mainstream telematics service, it is still counted as one of the top technologies that directly communicates with your car and transmits information such as providing maps, heavy rain up ahead, weather reports, wheel sensitivity, traffic alerts, reducing speed, etc. with day-by-day, hour-by-hour, and meter-by-meter accuracy.
Top Market Trend 2: Autonomous Cars Becoming a Reality
Back in 2013, the first so-called ‘autonomous-drive’ car has been driven in Japan. ‘Autonomous-drive’ or driverless car is attracting the most buzz. While these voice-controlled vehicles are already in operation, albeit in test versions and not as yet produced commercially, but there’s no stopping the fact that such cars are going to be available sooner than we think. Maybe as early as 2020, you can see a car with all its latest voice and touch controls, zooming past you on the street.
Top Market Trend 3: Greater Smartphone and Tablet Integration
Smartphones, iPads and Tablets have become a business staple nowadays. They are not a novelty anymore, but at work as highly personalized tools for users to take advantage of. So, no wonder then that these smart omnipresent new-age gadgets have become an easy platform for integrating telematics into them. Smart-phones, or for that matter tablets, create a seamless IT operation that can work hand-in-hand with the latest advanced telematics solutions – whether you are in your car, home or office, or even during your leisure time, it can give you exact specifications and deliveries meeting your every need.
Mobile apps on your smartphone facilitate connectivity that allows drivers to control their car remotely; you can check your car’s performance, safety and security by communicating with it in real-time and on the go. Rising consumer demands of tech savvy people have made sure that the telematics market continues to grow. Overtime, this Vehicle-to-Infrastructure Solutions(V2I) feature will also allow inter-connectivity between two connected cars that will bring about an increasing need for machine-to-machine (M2M) connectivity as well.
Top Market Trend 4: In-Vehicle Infotainment!
There’s a palpable excitement around infotainment in the automobile industry and amongst vehicle users. And the world of telematics doesn’t exempt from this euphoria, and why should it, especially when there’s an ongoing love affair with the social media networks.
According to the latest report published by Allied Market Research, by the year 2022 the in-car infotainment market will witness a double digit growth at an expected CAGR growth rate of 13.3% to reach $33.8 billion in total revenue.
With an unmistakable presence of great options or high-performance interfaces like Bluetooth and Wi-Fi, touch screen audio or even audio, video, GPS-based navigation systems, interactive voice recognition services, live media streaming service, phone pairing features, among others, it is a given that the entertainment quotient in the infotainment industry will have a lion’s share in terms of loyal followers and making it quite easier to gain new markets and customers. To be sure, this is just the beginning of things to come.
Top Market Trend 5: The Impact of the ‘Internet of Things’
The diversity of the Internet of things (IoT) is set to profoundly impact the telematics ecosystem. With the combined power of interconnection of everyday objects via the internet, the “car of the future” will be increasingly intelligent, “wearable”, interconnected and seamlessly accelerated.
What’s more, in the grand scheme of things of IoT, the car itself will become smarter than it is now as it will start leveraging key IoT enabling technologies that will directly address the virtual realm of real-time information, infotainment, and social networking with aplomb.
In the IoT environment, the car can only literally be a big data in motion problem which has become the proverbial poster child of this so-called IoT revolution where M2M (machine-to-machine) is a parent and Telematics is a grandparent and IoT is a child. We must realize that this is a third generation family, with similar DNA that is. All three generations are here to impact our lives.