GLOBAL TRUCK TELEMATICS MARKET

INTRODUCTION

Telematics creates a digital blueprint of every element of a vehicle's functioning, assisting fleet management in determining where improvements in accident prevention measures and driver safety standards may be implemented.

Telematics is a concept that combines the terms telecommunications and informatics to represent the use of communications and information technology to transport, save, and receive data from devices to remote objects via a network.

Improved safety is one of the primary advantages of telematics. Telematics systems can include sensors and other devices that identify and inform drivers of possible road dangers. Telematics may also monitor and offer feedback on driver behaviour, like speeding or rapid braking, to assist enhance safety.

Truck telematics helps to reduce vehicle maintenance costs by using a predictive maintenance approach, which involves performing truck maintenance based on actual engine operation modes, replacing fuel filters, tyres, and other consumable items when they are truly worn out, rather than a schedule-based approach.

Telematics uses GPS and on-board diagnostics (OBD) to track the movements of vehicles, machinery, and other assets and display that data on a computerised map.

For instance, telematics vehicle insurance tracks the behaviour of the driver and sends information to the insurance provider. The insurer then examines the information and chooses whether to reduce premiums for drivers with a history of good driving safety. For drivers that give telemetry data, some insurers even grant cheaper premiums.

Telematics is the practice of transmitting real-time data back to an organisation via wireless devices and "black box" technology. Installed or after-factory boxes that gather and communicate data about vehicle use, maintenance needs, or automotive servicing are most frequently employed in the context of vehicles.

Fleet managers can better understand where improvements can be made in accident prevention strategies and driver safety standards thanks to telematics, which offers a digital blueprint of every facet of a vehicle's functioning.

GLOBAL TRUCK TELEMATICS MARKETSIZE AND FORECAST

TheGlobal truck telematics marketaccounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

NEW PRODUCT LAUNCH

Mahindra launches iMAXX telematics connected vehicle technology to help CV fleets.Mahindra Truck and Bus (MTB) has announced the debut of Mahindra iMAXX, its connected vehicle technology, as part of its commitment to provide its clients with a distinctive fleet management experience.

This new Telematics platform is integrated into Mahindra's BS6 emission regulations compliance CV line, which includes the BLAZO X HCVs, FURIO ICVs & LCVs, and CRUZIO buses.

The new Mahindra iMAXX technology, along with its proven BS6 engines (mPOWER and MDI Tech) with FUEL SMART technology and strong aggregates, will assist fleet owners and carriers in seamlessly and effectively transitioning to the BS6 ownership experience.

Improved fleet operations efficiency with the proper telematics platform results in improved asset productivity and fleet utilisation, lower operating costs, and increased fleet safety. In contrast to other products on the market that primarily concentrate on location tracking-based services and fundamental vehicle electronic data, Mahindra iMAXX is an intelligent platform and a differentiating solution. 

Mahindra is currently witnessing an unparalleled number of success stories from its BS4 fleet clients who are improving their fleet's fuel efficiency by up to 10%.  Since the Mahindra iMAXX platform was initially released and jointly developed with customers during the previous BS4 period, certain customers have even improved asset productivity by 100% in terms of kilometres travelled per vehicle per day.

The business asserts that the intelligent Mahindra iMAXX is in a different league from conventional telematics solutions since it has the following qualities. In contrast, conventional telematics systems primarily focus on location tracking-based services and fundamental vehicle performance monitoring.

The Mahindra iMAXX embedded device's primary function is to safely absorb enormous amounts of high frequency engine and allied system data and send it in real time over 4G airwaves for server processing. To put this in context, compared to the previous generation telematics systems on the market, the amount of data supplied through the Mahindra iMAXX device from the vehicle is typically 600% more.

Digital Twin Platform - Once such a significant amount of data is ingested by Mahindra iMAXX cloud servers, the machine learning algorithms and artificial intelligence models set up at the Mahindra iMAXX digital twin platform level assist in providing precise, dependable, and anticipatory business and engineering insights.

A First in the Indian CV industry, Mahindra iMAXX has the singular and unmatched capability to add machine intelligence to normal data for enhanced credibility, efficacy, and reliability. Most telematics solutions retrieve and display vehicle data to customers without any further intelligence or analysis built-in.

The firm reveals a real-life incident that took place on one of its customers' cars during Lockdown 1.0 to help you understand the strength and originality of thissolution and how this technology supports its service guarantees for customers.

The system's artificial intelligence, which keeps track of a number of associated vehicle metrics, was able to foresee a problem with the engine cooling system 33 hours before the car actually experienced it, in the form of a high coolant temperature error code.

A potential significant vehicle breakdown was avoided because of the predictive alarm that was immediately made accessible to our NOW 24X7 helpline, Uptime monitoring team, and the client, together with the flexibility and prompt response of the customer care staff.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many truck telematics are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global truck telematics and key vendor selection criteria
3. Where is the truck telematics manufactured? What is the average margin per unit?
4. Market share of Global truck telematics market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global truck telematics in-house
6. key predictions for next 5 years in Global truck telematics market
7. Average B-2-B truck telematics market price in all segments
8. Latest trends in truck telematics market, by every market segment
9. The market size (both volume and value) of the truck telematics market in 2023-2030 and every year in between?
10. Production breakup of truck telematics market, by suppliers and their OEM relationship