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Speaking to TechGraph, Pranshu Gupta, Co-founder and CEO of Trak N Tell said, “The telematics industry has expanded exponentially pace in recent years, thanks to the introduction of mobile technology, GPS, and the Internet of Things.”
Read the complete interview:
TechGraph: Could you help explain how far Trak N Tell has come since its inception? From when it began to where it is now?
Pranshu Gupta: I (Pranshu Gupta) and my wife Ritu Gupta, who is also a co-founder of Trak N Tell, had a similar goal of developing an Indian version of the connected cars that are available in Europe. So, in 2008, we both decided to officially launch Trak N Tell as a car telematics solutions start-up that provides Connected Car Tracking and Safety Devices to ensure the safety of the vehicle and family members both on and off the road.
Since our inception, we’ve come a long way, emerging as a pioneer in the provision of intuitive telematics technology to OEMs in India and around the world. We have 30-35 distributors throughout India, as well as a dealer network of 1000-1200 stores.
Besides that, we serve a large number of automakers (OEMs) in the two-wheeler, four-wheeler, and earth-moving/off-highway (OHV) equipment markets. With our dedicated efforts over the years, I am pleased to report that our devices have been installed in over two lakh vehicles.
TechGraph: How is Trak N Tell utilizing its sectoral expertise and technology to solve the unsolved location tracking gap in the logistics & Automobile industry?
Pranshu Gupta: Among the many challenges, the biggest hurdle for the automotive industry is the finished goods supply chain visibility. A lack of real-time visibility results in inefficient inventory utilization and even loss of sales.
Therefore, to establish ourselves as a forerunner in the industry, we provide services and products in three main categories: aftermarket telematics, OEM telematics, and aftermarket car audio. Trak N Tell with the help of the latest IoT technology connects customers to their vehicles’ sensors, analyses the data it receives from the vehicle, and allows users to monitor it from anywhere using the Trak N Tell app.
The specifications include Tracking of Intelligent Vehicles, Car Finder/Locator, Geo-Fence Notification, Overspeed Warnings, Engine Health Status, Engine Immobilizer, Impact Alert Calling, Panic Button, and much more.
We are constantly improving our technology to close the unsolved location tracking gap while also striving to achieve our goal of failing an Indian version of connected car features that are competitive with the technology available in Europe and North America.
TechGraph: What is the state of telematics platforms in the Indian market?
Pranshu Gupta: Telematics is one of India’s fastest-growing markets. The telematics industry has expanded exponentially pace in recent years, thanks to the introduction of mobile technology, GPS, and the Internet of Things.
The Commercial Telematics Market in India is expected to be USD 1.15 billion in 2022 and USD 2.37 billion by 2027, growing at a CAGR of 15.6%. The telematics platforms have also expanded to include vehicle technologies, electrical engineering, computer science, and many other fields due to the widespread use of advanced technology.
Also, in recent years, the focus has significantly shifted from vehicular analytics to driver’s safety and other aspects of personal service.
Therefore the rapidly changing landscape of telematics and the introduction of new aftermarket and original-equipment manufacturer (OEM) installed products are capable of offerings solutions to a large customer base in India.
TechGraph: How is Trak N Tell leveraging technology to enhance the customer’s experience?
Pranshu Gupta: In the OEM space, we are more dynamic and technologically advanced than our competitors who offer Chinese devices.
We recently introduced three new IntelliPlay variants, which are a one-of-a-kind combination of entertainment and security technology that can be easily retrofitted into vehicles. It includes a real-time tracking system that collects data from the car and allows the owner to monitor it from anywhere using our app.
The IntelliPlay includes a built-in 4G LTE SIM with enough bandwidth to stream music and entertainment to make the journey more comfortable and enjoyable. Importantly, unwanted incidents, like accidents, speeding tickets, and downtime, can be minimized by observing driving behavior, vehicular health, driving dynamics, and maintenance intervals.
TechGraph: What are the new trends in the Telematic sector?
Pranshu Gupta: By 2023, it is expected that 50% of product-centric enterprises will have invested in a real-time transport visibility platform. In light of the ongoing COVID-19 pandemic, relying on a rigid monitoring system in a fast-paced fleet operation that must fulfill increased demands has become tough.
This is where remote fleet management can help. The most recent telematics software enables fleet managers to communicate with drivers in real-time and manage their fleets from a computer or an app on their smartphone. It simplifies the process to check the status of vehicles, tracking down assets, and receiving real-time alerts for unforeseen events.
Another primary concern in any fleet operation is safety. To avoid accidents and vehicle theft, more sophisticated technologies are now being introduced. Trending features include driver behavior and identification, alarm systems, and geofencing, to name a few.
Moreover, data is at the heart of any fleet operation, and fleets contain a significant amount of sensitive data that must be safeguarded. As a result, enhanced security solutions will be a primary priority this year, with an integrated database becoming a popular trend in-vehicle telematics.
TechGraph: How do you see AI, and machine learning concerning their relevance in the Telematic Industry? What will the future look like?
Pranshu Gupta: Since a large amount of data is accumulated from satellite tracking, onboard sensors, and Internet of Things (IoT) gadgets, it is challenging to locate the valuable data. In the telematics industry, AI and ML guide employees in real-time, acting as automated eyes and ears capable of analyzing data and making predictions based on that analysis.
Machine learning in fleet management can evaluate data inputs from a fleet of vehicles and provide feedback on any changes. For example, data on traffic patterns, weather, and road hazards can be used to predict risks and alert and navigate drivers through these circumstances as they occur. The future of the Telematic industry is therefore evolving right before our eyes.
TechGraph: What is the roadmap for Trak N Tell going forward?
Pranshu Gupta: Our immediate revenue target for the upcoming fiscal year is Rs 40-50 crore, while India is our primary market, we also have a presence in Bangladesh, Nepal, Sri Lanka, Kenya, Nigeria, Rwanda, Guatemala, Guyana, and other countries where we hope to expand our client base in the coming years. We are motivated to establish ourselves as a major telematics device supplier to OEMs in India and around the world over the next five years.