Telematics is a phrase that is becoming increasingly common in the insurtech world. Telematics is essential for managing the demands of today's complex logistics networks, and real-time digital twins will surely aid telematics in this endeavour. This cutting-edge technology is a hybrid of informatics and telecommunications that is mostly used in the field of fleet management.
According to reports, the telematics industry is on a gigantic growth trajectory, with a global value of $3556 million by 2026. As the automobile industry becomes more linked with the IoT, 5G, electrical engineering, vehicle technology, and AI are driving the sector forward.
The system, also known as black box technology, operates by transferring data from the vehicle directly to the cloud, where it is pooled and insights are generated. The insights provide useful statistics on the vehicle's performance and mileage, as well as providing insurtechs with the data they need to lower premiums and handle claims more quickly.
Telematics, which sits at the crossroads of telecommunications and informatics, provides crucial information for logistics experts, particularly those in charge of managing vehicle fleets. GPS, cellular networks, the Internet of Things (IoT), cloud computing, and analytics software have all been used to allow new possibilities for tracking cars and containers. Dispatchers can use telematics software to acquire key insights on their fleets, allowing them to make strategic decisions, address problems, and increase efficiency.
To learn more about the potential benefits of Telematics and the advantages it can provide to your company, join us as Group Futurista presents its “Future of Telematics” webinar.
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