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Business Economy

Industry symposium discusses future challenges for vehicle tracking technology

Industry symposium discusses future challenges for vehicle tracking technology

New Delhi, May 16 (UNI) Smart Tech 2019, a Symposium on Vehicle Tracking Technology, kicked off on Thursday in the national capital.

This is an initiative to bring to fore smart technologies that shall drive the world in the times to come, and make cities and vehicles smarter and more innovative as well as convenience-oriented in nature.

The two-day event is being attended by the who’s who of the automotive, IT and telecom, and smart mobility industry, including more than 250 delegates, and is supported by the Ministry of Road Transport and Highways.

Automotive Research Association of India (ARAI), International Centre for Automotive Technology (ICAT), Delhi Integrated Multi-Modal Transit System (DIMTS) Limited, among other big names in the industry.

Following the grand success of its first day, the platform has proven to be a great opportunity to discuss the present-day picture and the future prospects of vehicle tracking technology, a navigation application, connectivity, consumer safety, future of GPS and its intersection with telecom, and so on.

The 2019 edition of Smart Tech, organized by Smart Mobility Association (SMA), consists of six enlightening panel discussion sessions spread over two days and an exhibition displaying smart technologies.

The inaugural ceremony of the symposium was graced by ICAT Director Dinesh Tyagi, DIMTS MD & CEO M Ramshekhar, JBM CEO Deepak Thakur, and Mr. Rajiv Arora, General Secretary of Smart, Mobility Association, according to a statement here.

Speaking on the occasion and putting things in perspective, Mr Arora said, 'Since location and positioning technology is constantly taking over new heights with advanced GPS tracking, geo-fencing, beacons, it is important to prepare the vehicle tracking industry to accommodate the huge demand and also pinpoint the upgrades required. We are hopeful that this forum shall serve as a melting pot of ideas in this regard as it covers a cross-industry perspective and areas of vehicle tracking technology in India as well as across the globe.'

By the end of 2025, the global vehicle tracking market is expected to reach a whopping USD 11 billion along with a CAGR of 7 per cent between 2018 and 2025. It has been estimated that by 2023, the global GPS Tracking Device Market can grow upto USD 2.53 billion.

India Inc, which has laid a lot of thrust on digitization in the recent past, is planning to spend about Rs 1.91 trillion on the development of its major smart cities. A substantial amount of money is expected to go towards road constructions, fleet tracking, traffic management. Thus, more and more public transport is expected to have installed with VT technology in the near future.

As the Government has already initiated implementation of AIS-140 standard compliance in all Public Service Vehicles, time is ripe for the industry stakeholders to address the existing challenges and work upon collaboratively to adapt to best practices and disruptive technologies that shall benefit the industry ecosystem in a sustainable way. And this is exactly where Smart Tech 2019 is expected to add immense value.

iTriangle Infotech Managing Directo Vadiraj S. Katti talked about the various trends, opportunities, and challenges in Vehicle Telematics, while Mr Arnab Biswas from DIMTS expressed his thoughts on the topic 'Vehicle Tracking and Beyond'.


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