How Automotive IoT Solutions Will Disrupt Car Rental Business

12 Feb. 19
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The Internet of Things (IoT) has become an increasingly used buzzword across media platforms, as the growing topic of conversation around it has brought forth major implications to all industrial sectors. In the broadest sense of the term, IoT is the interconnection of all computing devices that are embedded into everyday objects and connected to the internet. In having these connected devices within automated systems and privately (or public) closed off networks, it is possible to have them talk with one another, gather information, create an action, and learn from the process. According to Gartner, by the time we enter 2020, there will be 20 billion connected devices, and the industry it will affect the most: the automotive industry.

How IoT is Poised to Disrupt Every Area of the Automotive Industry!

Although the Internet of Things may not be the first thing you think of when peering into automotive industry, for many automobile manufacturers, mobility solutions for automotive industry is triggering a digital revolution within the vehicle manufacturing process. From improved remote access and control over your vehicle’s functionality, to enhanced security features for car alarms and lost car keys, to improved control over vehicle status, driving ability and vehicle safety, an IoT enabled car is going to offer the consumer so much more than a traditional one. With this said, let’s take a look at how exactly Automotive IoT solutions are disrupting the car rental market.

1. Vehicle Maintenance Becomes Easy:

When it comes to vehicle maintenance, a car rental company has a lot of vehicles to attend to that cannot be out of commission for any long period of time. This is where an IoT based smart sensor network comes in handy, as a fleet of car rental vehicles can have all credentials relating to vehicle maintenance measured accurately and in real-time. Things like air pressure, fuel indication, vehicle location, and oil levels can be measured, with the data being collected and stored for review. From the cloud, this data can be displayed on screen through custom mobile application development that is accessible to both the car rental company and the consumers renting.
You may like to Read: Cost to develop OBD-II based Car Diagnostic App Solution

When it comes to the actual drop of and pick up of vehicles going through the vehicle maintenance process, this can be monitored and controlled through an IoT enabled web application development. This, in turn, provides the car rental company with high scalability, efficiency, and automation, as one can add as many third-party partners to the process and streamline each maintenance session.

2. Reduced Operational Costs:

Automotive IoT solutions can help you reduce the number of employees you need by automating the data retrieval process. You won’t need as many employees to book maintenance appointments, process billing or compile vehicle maintenance data. Leveraging Internet of Things technology, the operational process gets simplified and even supply chain management solutions can implemented with remote monitoring.

3. Order Processing is Simplified:

Although a lot of consumers fill out the required information online when booking to rent a car, there are still some that prefer to do it in-person. In having to manually collect customer information, allocate a vehicle, and have the condition of the vehicle checked by an employee at the time of return, this gets tedious really quickly. With Automotive IoT solutions, you can streamline the allocation of vehicles, the billing, the feedback forms, and the collection of customer information and payment.

4. Your Business Can Improve with an IoT enabled Rental Marketing Strategy:

You can attract regular and recurring customers by building personalization into your car rental business. This makes it so that when a car rental customer comes back and rents for a second, third, or fourth time, they will not have to go through each step of how they want their car rental personalized. It’s just as simple as providing the same or different car with the same preferences.

5. End to End Customer Service:

Beyond being able to connect the vehicle to the internet, which many customers would love to use on both long and short trips, Automotive IoT solutions also connects and pairs the user’s smartphone to the allocated/rented vehicle. Now, instead of needing a physical key to unlock the vehicle, one can just use their smartphone as a key on its own. This also allows the customer to play their own music through the vehicle’s entertainment station, make calls while driving, pay for gas, and navigate themselves using the on board GPS. The best part about this, it’s all conveniently provided through one single application, making customer user-experience top notch.

6. A Greater Understanding Of How Customers Use the Rentals:

On a larger scale, Automotive IoT solutions can help car rental companies understand how their customers use the cars they rent from the company. How? Companies can track GPS locations, find out real-time data about local restaurants being searched for, and track what events the rental car consumer is interested in. This, in turn, can help the car rental company hand-tailor the repeat experience, deliver high-quality targeted advertisements, and provide improved service around features that get utilized on a trip by trip basis.

6. Connected Cars may be able to act as active agents:

As more vehicles become “connected cars” through IoT innovations like proximity sensors, cloud-based networks, and predictive intelligence, we will be able to enjoy a convenience that is far more reaching than the voice-activated searches and key less entry we are used to today. Eventually, our vehicles will be able to notify people when we are running late, confirm appointments, book hotels, and even pay for parking through custom Automotive IoT solutions.
As more of these IoT features get implemented into vehicles, car rentals companies are going to be able to operate 24/7 as seamless mobile application booking, key less smartphone entry, and billing payments made through the app will reduce the need for employees around the clock. Beyond this, car rental companies are going to be able to personalize the experience even further when voice activation services become refined through artificial intelligence, making in-car travel planning a breeze.

Why choose Let’s Nurture to build IoT Solutions for Automotive Industry?

We, at Let’s Nurture, are one of the most popular IoT solutions and services providing company, having catered custom mobility solutions to various domains of automotive industry. Our expertise lies in IoT domain where we propose out of the box solutions and help our clients globally who want to have an MVP, PoC or complete IoT system developed. Our IoT app development process follows Agile methodology to bring complete transparency to already installed business driven project cycle.

To know more about our custom, secure, robust and scalable IoT solutions for automotive industry, please get in touch with our IoT and automotive industry experts.

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