New York, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia-Pacific Telematics in Vehicle Leasing and Rental Fleet Growth Opportunities" - https://www.reportlinker.com/p06489209/?utm_source=GNW
However, the COVID-19 pandemic presented substantial challenges, including disruptions in the semiconductor supply chain, which affected the automobile industry.
As a result, passenger car and light vehicle sales slowed down.
Leasing and rental companies in the region also faced growth-related challenges.Nevertheless, Asia-Pacific has resiliently overcome these challenges and emerged as a strong contender.
Telematics connectivity in the region has advanced, particularly in China and India; both countries are home to well-established telematics companies that have played a crucial role in supporting leasing and rental companies in addressing operational challenges.Notable automobile manufacturers, including Toyota, Suzuki, TATA, Hyundai, and KIA, now offer connectivity as a standard service.
Leasing and rental companies in APAC are rapidly adopting factory-fit OEM telematics solutions or turning to aftermarket telematics providers to meet their fleet needs.
Often, telematics companies integrate fleet management solutions and compete fiercely, offering technologically rich solutions.
Leasing and rental companies make significant use of vehicle security alerts, tracking, driver analysis, fuel management, emergency calls, and other features. The proliferation of 5G networks in APAC has facilitated faster and more reliable connectivity within fleets, improving real-time tracking and communication between vehicles and fleet managers.This study analyzes telematics in the leasing and rental market in APAC, with a focus on Australia, China, India, Japan, and South Korea.
The aim is to understand and explore the telematics ecosystem and the services offered to the leasing and rental market as well as the features that benefit the industry. The deployment of telematics technology in vehicle leasing and rental companies has brought tremendous benefits, improving overall control over fleet assets in terms of cost and effort.
With telematics solutions, fleet companies can capture relevant data points, enhance driver behavior, improve safety and security, identify negligent drivers, prolong vehicle life span, optimize claims ratio, and protect vehicle residual value.This study sheds light on market size; provides parc data for leasing, rental, and corporate outright purchase fleets; and offers insight into the telematics installed base in each segment.
It explores the technology and key industry trends associated with telematics.
The important telematics participants that offer services to leasing and rental companies are examined in detail, and a geographic coverage is also included.
Overall, the study aims to provide a comprehensive understanding of telematics in the leasing and rental space in APAC and offer an in-depth account of key trends, market overview, and future outlook.
Author: Rajesh Depores
Read the full report: https://www.reportlinker.com/p06489209/?utm_source=GNW
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