Analysis of Telematics in the European Vehicle Leasing and Rental Market

Increased Vehicle Leasing and Renting and Strategic Partnering with Ecosystem Stakeholders will Propel Telematics into European Light Vehicle Fleets

Global economies are in the phase of easing restrictions and accepting the new normal. European leasing and rental companies are embracing the new challenges set forth. The connected car is a ground-breaking trend in the automotive industry, and many automobile manufacturers are offering telematics as standard services in vehicles rolled out from factories. Leasing and rental companies are either adopting factory-fit telematics solutions or inching toward independent telematics companies, using solutions to the fullest to accomplish their fleet needs. Features, such as emergency calls, roadside assistance, stolen vehicle tracking and recovery, service, maintenance, repair, vehicle diagnostics, and usage-based insurance, are widely accepted and used by large leasing and rental companies across Europe.

This study focuses on fleet telematics in the European passenger and light commercial vehicle leasing and rental market and discusses the future scenario. It aims to understand and correlate the ecosystem of telematics and its service offered to the leasing and rental market and the features benefiting the industry. The companies identified in this study include stakeholders from key fleet leasing and rental companies, OEM and telematics companies that have complemented each other in the business and benefited mutually in the region.

Vehicle leasing and rental companies have tremendously benefitted by deploying telematics technology into their fleets, improving the overall control over their fleet assets in terms of cost and effort. With the implementation of telematics solutions, fleet companies can capture relevant data points, improve driver behavior, enhance safety and security, identify abusive drivers, improve vehicle lifespan and claims ratio, and protect residual vehicle value.

This study sheds light on the market size and provides parc data for the Leasing, Rental, and Corporate Outright Purchase fleets. It offers a view of the installed base of telematics in each segment of the leasing, rental, and company car parc, technology, and associated industry trends. Key participants involved in the telematics arena in Europe offering services to leasing and rental companies are discussed in detail with some insights based on geography coverage. The study provides a 360-degree understanding of telematics in the European vehicle leasing and rental market and offers a detailed account of the key trends, market overview, and outlook.