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POSTED ON:
August 26, 2021
OTONOMO RINGS THE BELL?

While the whole industry seemed to be on holiday, a massive
WOW happened. otonomo – one of the pioneers of connected mobility – has recently gone public via SPAC.

To begin with, congratulations to Ben Volkow, the team, and early investors Maniv Mobility, Michael Granoff, Bessemer Venture Partners.

❓ What does this move mean for mobility stakeholders?

First, the future of mobility is closer than it appears – Otonomo bet on the OEM embedded telematics and plays long term. With this deal and the latest milestones of Caruso, wejo, and Smart Cars the niche is gaining momentum.

That’s it for today, thank you for reading this post…
TAGS:
OEM telematics, connected car, telematics,
open mobility
❗ Oh God, look! There is a fly in the ointment.

- Though everybody talks about OEM embedded telematics these days, the technology is hardly on a large scale, boasting loads of hype and talks. And Otonomo proves this fact with less than ????500k revenue in 2020 while having access to ❗40 mln❗ vehicles. This clearly shows that customers still do not see the value of OEM-provided data and simply do not buy it (or better usage of the data is still limited).

- The situation is especially tough in the commercial vehicle segment, where aftermarket telematics is badly dominating the niche with a ????15% growth of installed devices YoY. For example, one of the industry leaders, GEOTAB, has 2 mln vehicles on the platform, reported ????440 mln in revenue last year, and is growing like hell. Bet, they won’t miss the bus and already forge partnerships with OEMs, as already done by some leaders like Enterprise.

- There are also pricing concerns. OEM data is still quite expensive when compared to aftermarket turnkey solutions. In many cases, it’s cheaper to plug in a dongle, get fleet management and support included, than buy raw data from OEMs.

- Last but not least, the data ownership issue emerges. In most cases, the fleet owner is the owner of the fleet telematics data. He is free to use it the way he wants – sell, share with third-party service providers, or embed into business processes. Conversely, OEMs own data from connected vehicles and skim the cream off big data usage.

Someday, OEMs will accept the status quo and start gearing up, cut the costs, otherwise aftermarket telematics will be here for ages.

Still, Rome was not built in a day and the shift towards embedded telematics will be incremental – the world will be steadily switching from aftermarket telematics. And Draivn with its future-proof platform is here to make the change smooth and painless. With us, you don’t need to bet on aftermarket telematics or OEM embedded – as Otonomo did. Choose whatever is convenient for you now and be on the safe side with Draivn whatever the future brings.

So, why wait for the future to come – start getting the value of your data today with Draivn.

Whoop whoop.
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