Automakers are beginning to embrace new technology aggressively
Juniper Research, a prominent market research organization, has released a new report concerning the growing popularity of telematics in the transportation sector. Telematics is a branch of technology that is meant to keep track of a person’s driving habits and vehicle information. This technology has become particularly popular in the auto insurance sector, where insurance companies are offering new services designed to promote safe driving and provide consumers discounts for practicing safe behavior.
Use of in-vehicle applications is expected to skyrocket in the coming years as automakers develop new, mobile friendly vehicles
According to the report from Juniper Research, the number of in-vehicle applications in use is expected to reach 269 million by 2018. The growth of in-vehicle apps is likely to be fuelled by the growing number of vehicles being released that make use of such applications. The auto industry is working to make its vehicles more mobile friendly through the support of various applications. Vehicles that will be released in the coming years will make use of a variety of applications and telematics technology.
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App integration may have a profound impact on the monetization of vehicles and the way these vehicles use mobile technology
The report suggests that app integration will have a “profound effect” on the monetization of vehicles and mobile technologies. Revenue is expected to drop somewhat, but new apps will allow automakers to comply with new regulations that are being introduced around the world, such as Brazil’s Contran 245 regulation. This particular regulation is focused on fighting theft, requiring all vehicles to be equipped with some type of telematics technology so that they can be tracked effectively.
Telematics could revolutionize the way auto insurance companies provide services to policyholders
The growing prevalence of telematics is also expected to have an impact on auto insurance. As this technology becomes more widely used, the cost of auto insurance policies is likely to fall to some degree. Some insurers already offer products that are based on the use of telematics, providing policyholders with significant discounts if their telematics systems can show that they are safe drivers.