Over the course of time, the telematics-based solutions have observed high market attraction due to the high demand for efficient smart solutions to manage services or products. The automotive industry is currently leading the connected infrastructure innovation with foreseeable prospects of the vehicle to everything (V2X) communications. Advanced communication and Internet of Things (IoT) solutions enabled by global network operators have fostered considerable development in the field.
Telematics forms the channel between a vehicle and its cloud/analytics center and is responsible for communicating voice, transferring data, and assessing machine codes generated by the vehicle’s on-board system. Telematics can form a safe and secure channel for data transfer and communication in a connected vehicle system without any leak. Telematics, with respect to the connected vehicle, is being developed with the integrated ability of the Internet of Things (IoT). Connecting a telematics service with the internet results in the opportunity into real-time monitoring and data analytics. The growth of connected vehicles is expected to drive the demand for telematics technology and its research and development.
Telematics service has emerged from just being a secured channel of communication to providing software-as-a-service. Today, the telematics companies are focusing on developing an end-to-end solution for a consumer, such as JD Link from John Deere, which provides a device, connectivity, and platform and customer support service for OHV application.
Off-highway vehicle (OHV) primarily has applications in three industries, majorly construction, agriculture, and mining, among others. Presently, the construction industry is leading in telematics adoption and is expected to maintain the position during the forecast period as well. North America is a major hub for technology innovation and has enormous potential for innovation within the construction industry and, moreover, is expected to drive the demand for telematics services in the OHV ecosystem in the future.
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Data management and processing is a crucial function responsible for shaping the future of mobility. Real-world data such as road maps, traffic data, and weather conditions help in contextualizing data collected from the vehicle with the surrounding conditions around a vehicle to draw behavioral or actionable insights further. An efficient service algorithm and assessment of the condition is based on the level of accuracy within a data analytics structure. A service algorithm can be a written code for performing a function such as assessing an emergency and generating an emergency response.
The term data analytics combines the overall effort of data management into a structured form. Data analytics has many forms, such as big data, which is an advanced form. The data analytics process includes inspection, cleansing, transforming, and modeling of data for drawing insights. There is a wide range of opportunities if telematics data is combined with real-world data using data analytics. Real-world data such as road maps, traffic data, and weather conditions help in contextualizing data collected from the vehicle with the actual environmental condition to draw behavioral or actionable insights further. This increased application has also opened a plethora of opportunities for component suppliers and developers to expand their consumer base, and make use of new revenue generation streams.