The inflow of technology in every aspect of life has transformed the way we function on a daily basis. From the payment industry to the transport industry, most of our interactions are through an application or interface. Technology and analytics which originally impacted us at an individual level has slowly but surely begun influencing various industries around us, including the auto-rental industry.
Earlier managing a fleet (i.e. of motorbikes or cars) was static in nature and companies were left clueless about the location of their vehicles. Data was recorded manually and the real time availability of the fleet was impossible to guess. In today’s time, the advancement in technology has led to an accurate read on the real time availability and status of vehicles. Integrated vehicle telematics and GPS navigation systems allow us to read, transmit and capture data on the location and status of the fleet.
In India, the market for the bike rental industry is approx. $ 300 million. Technology is changing the dynamics and making way for a more reflective as well as responsive platform for the users. Here are some ways in which analytics and technology are impacting the auto-rental industry: