Targa Telematics, tech company that develops technological solutions in telematics, smart mobility and digital IoT platforms, has been mentioned in the new Berg Insight market report: “Telematics for Rental and Leasing Fleets” (Telematics dedicated to rental and leasing fleets) among key players in this field. The forecast of growth for short-term and long-term rental markets of an active installed base are expected to thrive by 10.5 million by 2025 across Europe and North America, with a total of 228.000 car sharing vehicles.
By 2025, telematics’ penetration rate on the total number of rental vehicles in Europe is expected to rise from 30,2% in 2020, to 80.5%. Moreover, with regards to corporate carsharing telematics market, it is expected that by 2025 there will be 135.000 vehicles compared to 68.000 in 2020, with revenues for 519 million euros worldwide.
As a result of fleet operation managers’ interest in tracking, monitoring and maintaining their vehicles’ value, Targa Telematics offers a range of services such as stolen vehicle recovery and fleet management with key-less access. The company is also heading towards multimodal shared mobility solutions, including bike sharing telematics, and offers a specific module for electric fleet management that integrates booking and billing. Electric vehicle management offers on-board equipment that includes a telematics device with an OBD reader and user recognition systems in order to increase security.
Targa Telematics has over twenty years of experience in the telematics industry and fifteen in the rental industry in which, at European level, at the end of 2020, counted around half a million installed assets. Other than Europe, the company also operates with its solutions in the United States, Asia and Oceania.
After entering the car sharing market in 2014, the company extended its technological know-how to the smart mobility market, supporting clients in the realization and management of their own solutions, amongst which car sharing, where, at the end of 2020, Targa Telematics served more than 6,000 car sharing vehicles, an important number that is constantly growing month after month.
Nicola de Mattia, CEO at Targa Telematics, commented: “As data suggests, in this evolving scenario the rental market will be significantly thriving in the next five years. At Targa Telematics we have demonstrated that we have a consolidated experience in this sector. We will maintain this consistent growth, dedicating all our efforts towards our clients, supporting them in their rapid development in order to be ahead of the competition in the market”.
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 2020 Targa Telematics reported revenues of €40 million, 130 employees and more than 950 customers. For more information: www.targatelematics.com
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