The announcement about Toyota, the world’s largest automaker’s collaborative endeavor with Fleet Complete, a leading global connected vehicle technology provider, came as no surprise to mobility pundits. After all, stakeholders in the connected vehicle ecosystem have, increasingly, been turning to innovative, purpose-built Internet of Things (IoT) platforms that drive cost, resource, and operational efficiencies across fleets.
Fleet Complete’s cutting-edge, cloud-based IoT platform, CONNVEX™, will leverage Big Data generated by Toyota Connected Data Services to build and deliver powerful and actionable insights, and robust telematics data and information. At present, the focus in the agreement with Toyota will be on North America. The relationship with Fleet Complete in North America relates to leveraging Fleet Complete’s scalable Big Data analytics platform for jointly developing innovative fleet solutions. In Europe, Toyota is expected to continue its relationship with Kuantic.
In the past few months, Fleet Complete has forged partnerships with leading global OEMs such as General Motors and Toyota. And, with a few more partnership announcements expected in the coming weeks, is slowly establishing its presence in the global connected vehicle eco-system. Through these relationships with OEMs and Tier-1 suppliers, such as Phillips Industries, Fleet Complete is fulfilling the role of both service provider and data analytics partner.
Game-changing Partnerships That Drive New Revenue Generating Streams
Enhancing connected vehicles capabilities is a strategic imperative for OEM fleets since it yields unique insights and multiple benefits. For instance, Fleet Complete’s CONNVEX™ platform provides real-time information on a range of critical parameters like fuel levels, mileage, GPS, and patterns of driver behavior, among other things. This, in turn, means improved productivity, better overall safety, and rationalized costs across the fleet.
There are many stakeholders in the connected vehicle ecosystem, each with discrete needs and demands. As a result, connected vehicle technology platforms need to be innovative and flexible enough to accommodate multiple applications, business models, and solutions. In addition to vehicle manufacturers, tier-one suppliers, such as powertrain and chassis suppliers; infrastructure providers, including smart cities and municipalities; and financial institutions like insurance companies are potential partners for IoT-based, connected vehicle solutions.
For all these players, such partnerships can be game-changers. Powerful, cloud-based analytics and solutions build synergies across connected vehicle ecosystems and associated business models, even as they open up exciting new data monetization possibilities. As stakeholders across the mobility spectrum embrace a future of connectivity, the Toyota-Fleet Complete agreement foreshadows a seismic shift – from a passive approach where costs are controlled to an active embrace of co-created new revenue opportunities.
Frost & Sullivan publishes over 15 detailed research studies every year focused exclusively on Global Connected Fleets markets.
To know more about this, please reach me at email@example.com or follow https://store.frost.com/industries/automotive/commercial-vehicle-telematics-market-research.html