Taking care of a fleet of cars must be somewhat difficult, right? You want to be aware of each person’s whereabouts, as well as their safety and seamless operation. Here’s where telematics can help. As someone who has worked for Skywonder for more than 12 years in the GPS tracking industry, let me tell you that telematics has the potential to revolutionize your company. Let’s explore the basic meaning of something.
What is Telematics?
Simply put, telematics is the fancy term for informatics and telecommunications. It is essentially a means of transmitting, receiving, and storing data regarding automobiles or other objects. Consider it as a link between your phone or computer and your cars. It makes it easier for you to keep track of your cars’ whereabouts, driving habits, and general condition.
Telematics vs Telemetry: What’s the difference?
Perhaps you’ve heard of telemetry already and are curious about how it differs from telematics. Well, telemetry is more concerned with the specifics, even though telematics performs several functions such as tracking vehicles, routing, and monitoring vehicle health. It involves using sensors to remotely measure various parameters including fuel level, engine temperature, and speed. Thus, telemetry provides the data, while telematics makes use of this data to provide us with information that is truly helpful.
How does IoT fit into Telematics?
The Internet of Things, or IoT, now becomes relevant. The Internet of Things is a network of interconnected gadgets. IoT is what links gadgets like GPS trackers, sensors, and even cellphones to a central system in telematics. After the data has been processed, this system provides us with vital information such as the location of the car, its driving style, and its general performance. Using IoT, our product TraqCare provides organizations with a comprehensive fleet management solution.
How it works
Now, how does all of this operate? Hardware and software are the two primary components of a telematics system. The hardware consists of sensors and GPS trackers that are mounted within the car. Data such as location, speed, fuel level, and engine status are gathered by these devices. The software platform, in our instance TraqCare, receives this data, processes it, and then shows it to us. This aids in fleet monitoring, improves route planning, and provides alarms when something isn’t right.
GPS Tracking: The Telematics Bit
The main function of telematics is GPS tracking. The car’s GPS tracker communicates with satellites to determine its whereabouts. After then, the telematics platform receives this data and displays it to you in real time. At Skywonder, we’ve taken great care to ensure that our GPS trackers are extremely precise so you can always know where your cars are. GPS tracking is only the beginning, though. This data is transformed into actionable information by our TraqCare platform, allowing you to utilize it to manage operations securely and efficiently.
Predictive Maintenance: Fixing Problems Before They Happen
Predictive maintenance is one of my favorite aspects of telematics, and I adore it. Telematics uses data from the vehicle’s sensors to identify concerns before they become serious ones. For instance, the system may notify you to have the engine looked out if a sensor indicates that it is becoming too hot. In this manner, you may prolong the life of your cars, prevent failures, and cut down on downtime. Many of our clients that utilize TraqCare for predictive maintenance have shown significant cost and downtime savings.
Telematics Challenges
Let’s now discuss the difficulties. Although telematics provides numerous advantages, getting started might be a little challenging. The initial expense of installing telematics devices and connecting them to existing equipment is one of the hurdles. However, I can assure you that the long-term savings typically offset it. Managing the volume of data generated by telematics systems is another difficulty. To comprehend and make use of this data, you’ll need the appropriate tools. Because of this, we created the TraqCare platform, which offers easy-to-use reports and straightforward insights.
Data Privacy
I understand that when it comes to telematics, data privacy is important. You must handle driving data appropriately when tracking vehicles and gathering it. We at Skywonder take extremely seriously the privacy of user data. Strong security measures are included into our systems to guard against unauthorized access to data. We also provide you authority over your data, allowing you to determine who has access to what. Make sure you’re abiding by the privacy regulations and have a conversation with your drivers and staff about how their data will be utilized.
Is Telematics Expensive?
Alright, let’s discuss the price. Yes, there are initial expenses associated with telematics, such as purchasing GPS trackers, sensors, and software. However, consider the total amount of money you’ll save over time. Thanks to reduced fuel expenses, fewer repairs, and less downtime, many of our clients who use TraqCare realize a return on their investment in a matter of months.
Flexible Pricing and Savings
At Skywonder, we provide variable pricing to accommodate various company sizes. Additionally, because telematics systems lower risks and make driving safer, several insurance firms offer fleets with them discounts. Up to 15% less has been paid for insurance for certain of our clients. Therefore, even though there is an upfront fee, it’s usually a wise investment given the savings.
Cost of doing nothing
If you don’t use telematics for your fleet, you’ll pay more in the long run due to longer routes or more breakdowns. Long-term, telematics is a wise investment because it provides the knowledge needed to prevent these issues.
Why Telematics for Business
What makes telematics a good choice for your company, then? This is what
Cost savings: Telematics can help you save a lot of money by optimizing route planning, cutting fuel use, and enhancing vehicle maintenance. Our TraqCare customers have experienced gasoline expense reductions of up to 20%.
Safety: By using telematics to gain insight into driving behavior, you can identify potentially dangerous behaviors like speeding or hard braking. Real-time notifications and feedback can help you promote safer driving practices and lower the number of accidents.
Productivity: You can increase customer happiness, streamline processes, and cut down on delays by implementing real-time tracking and route planning. Delivery times and fleet efficiency have all increased for our clients.
Compliance: Telematics assists you in adhering to regulations including those pertaining to Electronic Logging Device (ELD) mandates and Hours of Service (HOS).
The Growing Telematics Market
Here’s an interesting fact: the global automotive telematics market is expected to rise from approximately US$ 51.85 billion in 2024 to a whopping US$ 240.84 billion by 2034, according to a recent industry analysis published on the Fact MR website. That is a significant rise! From 2024 to 2034, the market is projected to develop at a compound annual growth rate (CAGR) of 16.6%. This indicates that an increasing number of companies are beginning to recognize the benefits of telematics and are utilizing it to their advantage. Thus, if telematics is something you’re thinking about investing in, you’re doing the correct thing because its significance will only increase with time.
Telematics in Various Industries
Not every kind of organization can benefit from telematics. It is employed for several purposes across numerous industries:
Logistics and Transportation: Oversees sizable fleets to guarantee punctual delivery and efficient routes.
Construction: Monitors the location and usage of equipment to enhance efficiency and lower theft
Public transportation: By keeping an eye on routes and driver behavior, buses and trains become safer and more effective.
Insurance: Programs known as usage-based insurance (UBI) use telematics data to provide drivers with customized rates depending on their driving habits.
Over the Hump
It may seem overwhelming to begin using telematics, but it doesn’t have to be. Decide what you want to accomplish first. Are you want to reduce your fuel use, increase safety, or ensure that you’re following the law? Once you are aware of your needs, select a suitable telematics solution. At Skywonder, we collaborate closely with our clients to fully grasp their needs and provide customized solutions.
Telematics is a Smart Investment
Telematics is a wise investment in the future of your company, not just in technology. You can see things clearly in real time, which improves decision-making and increases efficiency and safety. At Skywonder, we have observed the transformational power of telematics in a business, from cost reduction to customer satisfaction. We can help you use telematics to grow your business with our TraqCare platform. Telematics provides you with the means to remain competitive, regardless of the size of your fleet.