IoT and telematics in the automotive industry are evolving rapidly. With connected cars, IoT has already found a significantly adopted application within the space. However, similar to any story of technology progression and related industry impact, the lucrative angle of automotive IoT demands value capture across the supply chain. Given that a significant number of automotive dealers today are operating legacy GPS solutions with limited GPS functionality and mere vehicle tracking or stolen vehicle recovery, the prospects of revenue through increased vehicle sales or return maintenance services seem to be bleak. The ambitious telematics landscape has embarked to grow beyond just GPS and location functionality to cover broader telemetry possibilities by leveraging big data analytics, machine learning and AI. Actively advocating this enhancement of IoT/telematics within automotive, Elastic M2M has established its market leadership with a robust, intuitive and secure software platform.
The Elastic M2M platform is designed for massive scalability, unmatched flexibility and value delivery across the automotive supply chain. The platform supports advanced applications for Inventory Management, Inventory Finance, Maintenance Services, Theft Protection and Consumer Connected Car Services, all with advanced real-time analytics. The platform also provides deeply integrated security and exceptional levels of system performance at volumes in the millions of devices. Terry Prime, President and CEO, Elastic M2M says, “Our team has direct experience with the many issues of single-purpose, legacy GPS systems.
Elastic M2M takes IoT/ Telematics to a higher level of value for Automotive and other IoT Markets
We are laser focused on building a better path for the automotive industry to fully benefit from new Connected Car opportunities, big data analytics and machine learning.” Eliminating the vertical silos of data associated with legacy automotive systems, the Elastic M2M platform can provide IoT application value across the automotive ecosystem by using a single device to support seamless and transparent sharing of data between Dealerships, Finance Companies, Solution Providers, DMS Companies, Dealer Services Companies and Consumers. And ecosystem participants can easily white label the Elastic M2M platform and applications for their company brand.
“The Elastic M2M platform is not limited to automotive. It is a full application enablement platform being actively used by enterprises across multiple industries,” adds Prime. The platform is fully device, sensor and data network agnostic allowing clients to leverage the absolute best in-vehicle technology as it evolves quickly over time. Powered by an extremely powerful and dynamic reporting system, the platform allows clients to customize, sort orders, filter data types and choose formats for export. Through a highly efficient analytics platform, clients have the ability to define incoming data and how it’s presented, enabling actionable intelligence and insights that impact business results. The platform also supports creation of custom web and mobile user interfaces and simplifies the ability for clients to create their own, proprietary applications. Scott Stone, CSMO, Elastic M2M says, “While we offer extensive professional services to help clients implement high value customizations, we also provide an intuitive set of tools that let clients tailor the applications, workflows and interfaces themselves. It is a dynamic platform capability that supports creation of highly differentiated services while also lowering risk and accelerating time to market.”
Currently, Elastic M2M is on a trajectory of rapid growth registering more than 400 thousand connected cars on the platform, 200 thousand Connected Car subscription sales, 300 million sensor events processed monthly and hundreds of dealerships benefiting from the platform daily. “We strive to provide value across the automotive supply chain, leveraging our next-generation platform, applications and services for franchise, independent, and subprime dealers as well as automotive finance and automotive service companies.” concludes Prime.