To enable safe online communication between people and electrical devices, telematics software is employed in automobiles. To send, receive, and store telemetry data, telematics devices are installed in automobiles to make up the telematics system. Data on vehicle and driver behaviour aids fleet managers to preserve a daily inventory of both fixed and mobile assets inside their organisations. Through personalised dashboards and analytics, this data is used for analysis and can be used to forecast overall business success. The driver behaviour monitoring systems assist in tracking and monitoring driving patterns for entire fleets of cars, as well as fuel waste and associated expenses. Fleet performance data may be fully reported using GPS monitoring software, which also extends fleet life and productivity levels while reducing costs.
With a CAGR of 18.4% between 2021 and 2028, the Europe Telematics Software and Service Market, which was valued at US$ 6,032.0 Mn in 2020, is anticipated to grow to US$ 20,483.0 Mn by 2028.
Prominent Companies in the Europe Telematics Software and Service Industry:
1. MiX Telematics: MiX Telematics Ltd provides customers all over the world with software-as-a-service solutions for fleet and mobile asset management. MiX Fleet Manager Premium, MiX Fleet Manager Essential, MiX Asset Manager, and Value Added Services are some of the company's solutions. It provides services to the fast-moving consumer goods, utilities, security, building, transportation, and distribution businesses, as well as the government, rental and leasing, mining, oil and gas, and public transportation sectors. Built in 1996. Office location: South Africa. Trimble's business for field service management will be acquired by MiX Telematics.
2. Octo Telematics: Created in 2002. Headquarters in Italy, in Rome. Developer of cutting-edge data analytics software and supplier of telematic services targeted at the government, insurance, rental, and leasing industries. The company's software and technological capabilities enable insurers to manage, pay claims, and maximise customer relationships while developing and managing a comprehensive and integrated portfolio of telematics services, vehicle sharing and fleeting, and truck fleets. Fabio Sbianchi, the creator of OCTO, and a group of investors buy out Nes Investments completely. With the addition of Independent Directors Edmondo Pietranera, Massimo Michaud, and Paul Cronheim to the Board of Directors, Sbianchi is named Chairman of the OCTO Group.
3. Trimble INC: Founded 1978. Trimble Inc., with headquarters in the United States, offers location-based services for GPS, laser, optical, and inertial technologies. 3D laser scanning, flow and application control systems, monitoring systems, water management, and navigation infrastructure are among its product offerings. Additionally, it produces GPS systems as well as goods based on optics and lasers. Ryvit (Jan 2023), Transporeon (Dec 2022), and B2W Software (Sep 2022) are the most recent acquisitions.
4. Verizon: A company offering wireless telecommunications services committed to transforming community contact in America. The company assists customers in streamlining their needs for multimedia communication and consumption by providing low latency based 4G LTE and 3G network plans, as well as the sale of telecommunications equipment such tablets, phones, and USB modems. Established in 2000. Admin centre in the U.S. SenionLab (Jun 2021), incubed IT (Feb 2021), and Bluegrass Cellular (Oct 2020) are the most recent acquisitions.
5. Aplicom: Manufacturer of telematics tools and automotive systems for manufacturers of heavy machinery and vehicles. The business creates IoT-based configurable mobile devices and software and provides consulting services for telematics, telemetry, and IoT solutions. As a result, users can obtain highly configurable devices with simple-to-use tools and fully programmable devices to meet any specific requirements. Built in 1995. Headquarters at Finland's Jyvaskyla.
6. Astrata: Creator of a real-time cloud-based platform for monitoring natural language processing with a view to improving value-based healthcare. Health insurers may more quickly analyse unstructured clinical data using the company's technology, which also includes advanced analytics, artificial intelligence, natural language processing, and the ability to identify candidates for screening. Established in 2021. Head office in the United States.
7. Key Telematics: Florida-based telematic software developer in the US. In order to enable suppliers of asset management and vehicle monitoring systems grow their businesses and lessen the burden of after-sales support, the company offers premium hosted software as a service. Established in 2009. United States headquarters. Undisclosed, Seed, December 5, 2019, was the date of the most recent funding round.
*Definition: Telematics software is used in vehicles to provide secure communication between human users and electronic devices over the network.
