Frost & Sullivan Applauds PACE Telematics for Understanding Consumer Sentiments and Offering a Ready-To-Use Product Out of the Box
PACE has enhanced customer experience and value, which competitors have been unable to achieve in a single product line
LONDON, Oct. 26, 2017 /PRNewswire/ -- Based on recent independent market analysis of the telematics aftermarket industry, Frost & Sullivan recognizes PACE Telematics with the European 2017 Product Line Strategy Leadership Award. German-based PACE Telematics GmbH offers a single product with unique capabilities that stands out from generic brands and high-end telematics solutions, with no recurring service fee or monthly carrier charge. PACE offers a comprehensive set of 9 smartcar functions for the car driver and many value added services to business customers like workshops or insurance companies. Its low-energy Bluetooth module linked to the user's mobile device prevents remote hacking through mobile wireless network.
At present, the customers have a wide range of on-board diagnostics (OBD) II-based telematics solutions to choose from. However, because the market is crowded with products from original equipment manufacturers (OEMs) and the aftermarket, consumers feel that they are being denied key product capabilities just to force a higher subscription fee.
"The digitalization is also affecting automotive services," commented Dr. Holger Hättich, Managing Director PV Automotive GmbH. "In order for our customers to not lose touch with the topic 'Workshop 4.0', we as a spare parts wholesaler, offer solutions like PACE. Drivers appreciate their workshop being able to remotely diagnose their car, prepare for the appointment, and, for example, already order the needed parts. This takes customer retention to the next level."
PACE Telematics offers a well-rounded product for the German market. For example:
- The PACE Link, an OBD II dongle, makes use of the in-car OBD II diagnostic port and is linked to the PACE App.
- The PACE Car App is a mobile platform that helps visualize and use real-time data from the PACE Link.
"The product houses capabilities, such as error logging, fuel tracking and emergency calling, among others, that the competition in the same bracket does not provide," said Frost & Sullivan Senior Research Analyst Benson Augustine. "The PACE Link stands out because of its ability to offer feature-rich capabilities in a single product without much complication in its product mix and without any recurring subscription fees or carrier charges."
The PACE Link houses a low-power, multi-port-capable, Bluetooth-enabled dongle that connects the user's car to the smartphone and ensures connectivity of the car to the web and the PACE Cloud. PACE Telematics plans to incorporate a Wi-Fi and GSM module and fleet management solutions into its future product line for an efficient connectivity suite. The PACE Cloud runs atop a Big Data framework that derives comprehensive, real-time metrics and relays information (upon user approval) to third-party partner dealerships and independent aftermarket (IAM) entities for on-demand assistance.
"A key product differentiator is the feature mix. Most OBD II telematics providers spread their capabilities across product lines to offer customers a variety of choice and price range," comments Augustine. "Artificial intelligence and predictive maintenance algorithms are already part of the codes that detect replacement cycles for components such as brakes, batteries, and temperature modules. In the short term, PACE plans to bring in cognitive intelligence as part of its code to detect anomalies and recommend services."
Each year, Frost & Sullivan presents this award to the company that strives to be best-in-class in three key areas: understanding demand, nurturing the brand, and differentiating from the competition.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About PACE Telematics
The German connected car and IoT startup PACE Telematics makes driving more relaxed, safer and cheaper by turning cars into smartcars. PACE offers 9 features that directly address the key pain points of a car driver. In addition, PACE offers multiple SAAS solutions to business customers based on the PACE system. For example, car workshops can increase their customer retention and efficiency based on remote diagnosis with PACE and car insurance companies can develop innovative telematics tariffs using PACE and improve their profitability.
The 2015 founded company was supported by a huge community from day 1. PACE was a Kickstarter sensation in 2016 when they raised 250% of their funding goal within only 24 hours.
PACE's consumer features are the Electronic Drivers Logbook, the Automatic Emergency Call, the Trouble Code Analysis, Fuel Cost Tracking, Find The Cheapest Gas Station, the Fuel-Saving Trainer, the Find-My-Car feature, the Performance Monitor and the Traffic Monitor.
In addition, the smartcar experts will be launching "Connected Fueling" and "Connected Parking" with their partner SAP and the help of the "SAP Vehicles Network" next year.
The PACE technology works for almost all cars built from 1996 on.
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SOURCE Frost & Sullivan
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