Asia-Pacific Telematics in Vehicle Leasing and Rental Fleet Growth Opportunities

Asia-Pacific Telematics in Vehicle Leasing and Rental Fleet Growth Opportunities

Connectivity in Leasing and Rental Fleets will Unravel Opportunities amid Internal Challenges and Increasing Competitiveness

RELEASE DATE
14-Aug-2023
REGION
Asia Pacific
Deliverable Type
Market Research
Research Code: PDE1-01-00-00-00
SKU: TEMP_2023_78
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Asia-Pacific Telematics in Vehicle Leasing and Rental Fleet Growth Opportunities
Published on: 14-Aug-2023 | SKU: TEMP_2023_78

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Technology in Asia-Pacific has grown significantly in recent years, and countries in the region have been quick to adopt fast-growing technologies, such as IoT and connected cars, and embrace digitalization. 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 Frost & Sullivan 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

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the APAC Telematics in Vehicle Leasing and Rental Fleet Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation Overview

Definitions

Fleet Telematics Solution Types

Segmentation

Key Findings

Growth Metrics

Growth Metrics (continued)

Growth Drivers

Growth Restraints

Installed Base Split by Country

Telematics Installed Base Forecast

Fleet Parc by Country

Telematics Installed Base by Country

Fleet Telematics Benchmarking

Telematics Trends in the Leasing and Rental Industry

Telematics Trends in the Leasing and Rental Industry (continued)

Connected Services Ecosystem

Leasing and Rental: Telematics Service Preference

Telematics Benefits

Top Reasons for Fleet Companies to Invest in Telematics

Leasing and Rental Fleets: Preferred Features

Telematics Penetration in Leasing Fleets by Country

Telematics Penetration Analysis

Telematics Unit Forecast by Country

Telematics Installed Base by Country

Telematics Penetration in Rental Fleets by Country

Telematics Penetration Analysis

Telematics Unit Forecast by Country

Telematics Installed Base by Country

Telematics Penetration in Corporate Outright Purchase Fleets by Country

Telematics Penetration Analysis

Telematics Unit Forecast by Country

Telematics Installed Base by Country

Competitive Environment

Key Competitors

Telematics Ecosystem Partners

Fleet Telematics: Segment Stakeholders

Leasing Companies: Telematics Offerings

Rental Companies: Telematics Offerings

Telematics Companies: Product Offerings and Key Solutions

Telematics Companies: Product Offerings and Key Solutions (continued)

Fleet Telematics: Packages and Pricing

Australia

China

India

Japan

South Korea

Case Studies

Key Conclusions and Future Outlook

Growth Opportunity 1: Strategic Partnerships

Growth Opportunity 1: Strategic Partnerships (continued)

Growth Opportunity 2: Technology and IP

Growth Opportunity 2: Technology and IP (continued)

Growth Opportunity 3: Product Development

Growth Opportunity 3: Product Development (continued)

List of Companies

Abbreviations and Acronyms Used

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

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Technology in Asia-Pacific has grown significantly in recent years, and countries in the region have been quick to adopt fast-growing technologies, such as IoT and connected cars, and embrace digitalization. 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 Frost & Sullivan 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
More Information
Deliverable Type Market Research
Author Rajesh Depores
Industries Automotive
No Index No
Is Prebook No
Keyword 1 Vehicle Rental Telematics
Keyword 2 Fleet Growth Opportunities
Keyword 3 Telematics In Vehicle Leasing
Podcast No
WIP Number PDE1-01-00-00-00