Recent studies show that vehicle telematics adoption is close to 50% today and was as high as 78% in the utility fleet industry in 2016.
Emerging in the late 1990s, following the international adoption of GPS, the first vehicle tracking systems enabled fleet managers and leasing agencies to keep an eye on the location of their fleets. Today, modern IoT technologies allow Telematics businesses to serve new markets and develop new use cases through data-driven insights.
With connectivity options becoming increasingly efficient over the last decade, financing companies are searching for new technologies to track and manage financed vehicles. Real-time information allows them to better manage assets and confidently secure their investments.
Thanks to Altair ultra-low power chipset, device developers wanted to incorporate it in a way that would simplify vehicle asset management.
Auto leasing companies and car dealerships need a reliable, long-lasting vehicle telematics solution to track, and potentially recover financed vehicles during the financing period. Legacy solutions that require wiring telematics devices to the car’s power source make installation expensive and devices vulnerable to tampering.
The challenge was to develop an install-and-forget vehicle telematics solution that would provide reliable, autonomous operation for the entire two-year leasing period – eliminating the need for device wiring to the car’s battery and minimizing the risk of removal.
Altair cellular IoT chipsets provide ultra-low power consumption, enabling vehicle telematics devices to operate autonomously on small batteries for over two years, cutting installation costs dramatically.
By providing location pinpointing, speed notifications, pattern tracking, and much more, in a low-power, small, easy to install and conceal vehicle telematics device, financing companies now have a cost-effective & tamper-proof way to accurately track and recover vehicles when necessary.
As the only solution capable of meeting the ultra-low power requirements of these deployments, Altair chipsets now provide connectivity for vehicle telematics globally.
With our unique solution, vehicle telematics vendors are now able to open new opportunities for finance and leasing companies, equipping them with real-time data needed to make informed decisions and protect their valuable assets.