The percentage of short-term rental vehicles equipped with Targa Telematics technology and recovered following theft exceeded 90% in the first 9 months of 2020.
These are the figures announced by the tech company – which develops solutions in the field of telematics, smart mobility and IoT platforms for mobility operators – in its periodic report that takes stock of the results of its Asset Management activities, carried out for many of the major car rental operators.
An achievement possible thanks to the most advanced version of Stolen Vehicle Recovery (SVR), the latest generation solution developed by Targa Telematics and based on IoT, Machine Learning and Artificial Intelligence technologies. The SVR service provides customers with Operations Centers working 24/7, which monitor and analyze vehicle data and risk areas in real time, working in close synergy with the Italian and European Police Forces, for vehicle recovery.
Although the number of thefts linked to short and long-term rentals fell by a total of 65% in the March/April period compared to 2019, since June – again according to the Targa Telematics report – the phenomenon has started to increase again, linked to the increase in the number of vehicles on the road following the lockdown. In fact, in the first nine months of 2020, there was an overall reduction of 30% in thefts compared to the same period of the previous year.
Overall, Targa Telematics analyzes over half a million connected assets, processing 24 terabytes of data every day.
“We are particularly proud of the results achieved by our Asset Management technologies, because they allow car rental players to minimize damage caused by theft, optimally preserve the condition of vehicles and control the entire fleet with particular effectiveness, preserving its value”, said Pasquale Zanfini, Head of Operations of Targa Telematics. “They are the result of a constant effort to refine our algorithms and solutions that will increasingly become the heart of mobility in an ever-expanding digital world. This sector is going through a period of profound evolution and there are many transformations that will have an impact on it. Thanks to our proprietary technology, we have achieved a distinctive positioning in the market and can guide our customers in their digital transformation process”.
ABOUT TARGA TELEMATICS
Targa Telematics is an IT company with 20-year of experience in connected vehicles. It provides technological solutions in telematics, smart mobility and digital IoT platforms for mobility operators. The company addresses short and long-term renters, large finance companies and large fleet with a range of services from insurance telematics to asset and fleet management, remote diagnostics and telemetry for vehicles, professional and construction-site vehicles, through to the management of airport service vehicles. Managing over half a million of connected asset, in 2019 Targa Telematics reported sales of €45 million, 120 employees and more than 950 customers. For more information: www.targatelematics.com
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