Interview
Vehicle Telematics industry in coming years
Tawfeeq Ahmad at iWave Systems, shares with Telematics Wire his thoughts on how the telematics industry will do in 2022 and eventually how the vehicle telematics industry he thinks will evolve over the coming years.
The way forward for TSP
What is your view about the Vehicle Telematics market in India?
TAWFEEQ AHMAD
Product Marketer, Telematics Solutions at iWave Systems Technologies Pvt. Ltd
your economies viewinabout Vehicle market in India? the world. Thethe vehicle telematics market inTelematics India is an With a population of 1.38 billion, India is one of the fastest growing
emerging industry and is poised to grow at a rapid pace. A survey from Tech Mahindra showed that 90% of four-wheeler consumers prefer buying a vehicle with telematics capabilities. More data driven use cases such as predictive maintenance and workshop appointment scheduling, asset productivity and fleet utilisation. Consumers and fleet owners are looking for more powerful insights on the edge, providing vehicle health and performance intelligence through the data. Through the challenges faced due to the pandemic, automotive market in India have registered negative growth in sales of all vehicle categories in FY21. However, at present, there has been increased. Also, telematics market in more focused commercial vehicle applications such as forklifts, tractors and heavy-duty trucks promises to be an interesting proposition for TSPs in India.
market. The coming together of various stakeholders such as OEMs, cloud infrastructure providers, telecom operators and fleet owners is the foundation for a successful telematics program. In India, there is a growing focus on building the ecosystem which makes it commercially promising for the TSP. Various government regulations such as AIS-140 and the need for tracking vehicles, is a bright path ahead for TSPs. With increased awareness and adoption rates, the Indian telematics market is full of growth. According to "Indian Connected Trucks Telematics Market", telematics market in India is expected to grow at 25% rate over the years. The scope of commercial fleets ranges from transport and logistics, oil and gas, construction, utilities, service and maintenance, and retail and delivery, with transport, logistics, oil and gas segments offering highest growth. Mandates such as the ELD Mandate by the governments in North America and Canada, where the driving hours of commercial vehicles are regulated by a set of rules is an example of how government mandates increase the value for TSPs in the market.
on of 1.38 billion, India is one of the fastest growing economies in the w ics market in India is an emerging industry and is poised to grow at a ra ch Mahindra showed that 90% of four-wheeler consumers prefer buyin capabilities. More data driven use cases such as predictive maintenanc intment scheduling, asset productivity and fleet utilisation. Consumers king for more powerful insights on the edge, providing vehicle health an Will the coming year be commercially exciting for telligence TSPs? through the data. A connected ecosystem is key to driving growth in the telematics
10 | Telematics Wire | January 2022
allenges faced due to the pandemic, automotive market in India have re
