insight
Automobile
By: Sagar Sharma

How Automotive IoT Solutions Will Disrupt Your Car Rental Business?

There is a profound reason why IoT became a buzzword over the years. The goal of IoT is to connect everything around the world in a way that they can not only interact with each other but also learn from each other with the help of AI. According to Gartner in 2020 there will be over 20 billion connected devices across the world. Today, IoT is disrupting almost every industry such as retail, manufacturing, logistics, etc.

The automotive industry is the one that leverages the major benefits of IoT. Starting from automobile manufacturing and after-sales services; IoT has disrupted every part of the automotive industry. Car rental business is one of the most revenue generating business in the automotive industry. Automotive IoT solutions have changed the face of car rental business from the inside out. IoT enabled mobile apps help the business owners to manage the customer relationship and the car maintenance adequately. They can not only track their car by location but also can track different aspects of the car such as fuel, the air pressure in the tires, etc. using IoT mobile app.

Let’s dive deep into how IoT mobile apps and automotive IoT solutions have been disrupting the car rental business and how it is going to change the way this business was operated.

Benefits of Automotive IoT Solutions to Car Rental Owners

Like IoT, Connected cars have also become a buzzword these days. According to statista there will be over 83 million connected cars shipments in 2020. It means that the streets will be a lot safer than they are now. Apart from this, IoT mobile apps for connected cars have got a plethora of benefits for the car rental business.

Easy Vehicle Maintenance

IoT smart sensor network will help us measure all the credentials related to vehicle maintenance. It can measure tire air-pressure, fuel indication, track the vehicle location in real-time, etc. This data is collected and stored in the smart cloud. From the cloud, this data can be displayed in an app or a web application having an attractive UI which is easy-to-use.

Vehicle maintenance also includes pickup and drop off which can be easily monitored and controlled via the IoT enabled web application. Automotive IoT solutions provide high scalability. Hence, we can add as many partners as we want to the network. These partners can help you streamline the process of vehicle maintenance and allow you to achieve more significant grounds.

Reduced Operational Cost

Automotive IoT solutions can help you reduce your operational cost by reducing the number of employees. Since the whole process is getting automated the time and effort required in data processing will be reduced. Now, you don’t need employees to extract the information from massive data sets.

Simplified Order Processing

Conventionally car rental order processing might take more time and effort, but with automotive IoT solutions, it is going to get reduced. It streamlines the process of distribution and collection of vehicles. Collecting customer information and allocating the vehicle to them can be cumbersome if done manually. Even at the time of return you as the owner have to train and hire employees to check the vehicle’s condition at the time of return. Taking cash from the customers and making them fill feedback forms manually can be tedious and can affect the customer experience.

Improved Marketing Strategy

It is easier to achieve personalization when you’re employing automotive IoT solutions to the business. Every new customer has to set their preferences for one time. So that when they come back to avail the same service they do not have to go through each step to personalize the rented vehicle again. This feature can be used as a great marketing weapon to attract customers. IoT will give your business a competitive advantage.

End-to-End Customer Service

Automotive IoT solutions help you to not only connect the rental vehicle to the Internet, but it also connects all the other things which a tourist might look for. Now, the customer won’t need an actual physical key to unlock the car. Their smartphones can be the key to the vehicle. Customer’s smartphone will automatically get paired to the vehicle. Once it is paired, customers can do things like making calls while driving, play their favorite music station, pay for gas, navigate themselves to hotels and tourist places and finally pay for the entire service using a single app.

By creating this app, you’re providing customers with an end-to-end solution. A single app which can do all the tasks a customer wishes to do while they’re on the trip. Your app will be the source and end of everything that customer wants.

Verdict

Automotive IoT solutions not only unlocks better opportunities for customers but also offer them a complete end-to-end experience. As a vehicle rental owner, you’ll be able to manage customer data easily with simple feedback forms. You can collect queries and address them immediately via the platform. Got an idea? Get in touch with our experts now to get the best advice in the industry and explore the uncharted territories of your business.

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