Recently, Doosan has launched LIN-Q Smart Telematics System for forklifts truck fleet. This will enable remote monitoring of these forklifts. The system will help in increasing productivity, safety, and security.
The off-highway vehicles have a significant range of applications within the construction, agriculture, and mining, among other industries. Global mobility trends such as connected, autonomous and electric propulsion have impacted several industrial sectors. These trends are supported by back-end support, with data analytics being one of the critical aspects of platform function. These business operations generate new opportunities for emerging data science domains, such as big data and machine learning.
According to the market intelligence published by BIS Research, the global off-highway vehicle telematics market is estimated at $1008.3 million in 2019. The market growth is fuelled by the drivers, such as safety and security requirements for vehicles and on-site professionals and equipment telematics for maximizing efficiencies and profit.
With increasing security concerns across the world, off-highway vehicle tracking is a top priority. OHV is known as an asset due to the high cost of purchase for the equipment. In the overall OHV market scenario, the off-highway vehicle/equipment used in the construction and agriculture industries is the costliest.
In the off-highway vehicle market, the equipment rental services, from either an OEM directly or a third-party contractor, form an essential business model. In both cases, the service provider would be very keen to track and monitor its asset (equipment), the active job hours, driver behavior, and geofencing services.
Connectivity is an essential feature for vehicles. Connectivity in the automotive domain relates to communication for services, transmission of data, and ensuring machine and operational safety. Connected vehicle platforms are extensively researched and developed by technology leaders and automotive OEMs. The platforms can enable operations such as vehicle to infrastructure (V2I), vehicle to vehicle (V2V), vehicle to cloud (V2C), vehicle to pedestrian (V2P), and vehicle to everything (V2X).
Telematics forms a channel between a vehicle and its cloud/analytics center and is responsible for communicating voice, transferring data, and assessing machine codes generated by the vehicle's onboard system. Telematics can form a safe and secure channel for data transfer and communication in a connected vehicle system without any leak. Telematics with respect to the connected vehicle is being developed with the integrated ability of the Internet of Things (IoT).
Connecting a telematics service with the internet results in the emergence of real-time monitoring and data analytics. The growth of connected vehicles will drive the demand for telematics technology and its research and development.
The most critical role of telematics services is to monitor the driving style/behavior/pattern of a driver, which can be extracted through the sensor system or a smartphone device present on a vehicle. Features such as driver safety training, predictive analysis, and connected vehicle framework benefit the connected vehicle service, as it creates a suitable algorithm, filtering out the negative aspects of the driving technique. The efficiency of these services depends on real-time data accumulation, transmission, and processing into a structural form to take business decisions.
