Bright Box included in leading companies growing aftermarket car telematics according to Berg Insight
The number of active aftermarket car telematics units will grow at a compound annual growth rate (CAGR) of 20,6% from 58,7-million at the end of 2018 to 150-million at the end of 2023, according to a new research report by Berg Insight. A number of leading telematics companies, including Bright Box, were named as drivers of this growing market.
Berg Insight statements that the connected car is a major trend in the automotive industry. Over time, a growing number of aftermarket telematics services have become available for consumers and businesses that want to add services and connectivity to cars. Examples of aftermarket car telematics services available today include safety and security focused solutions and broader consumer telematics solutions offering a wide range of services. Aftermarket solutions still have a dominant position on the vehicle tracking market in many parts of the world. In Europe Bright Box named as one of the companies with the large installed bases of aftermarket telematics products. The report contains detailed information about Connected Car platform Remoto powered by Bright Box for the European market.
Bright Box mainly targets aftermarket solutions for importers and dealers and the customer base today comprises over 1,000 dealers across the globe. The company is selling its solutions based on a subscription-model for the telematics services and a one-time cost for the hardware. The company has agreements with several OEMs in different regions to retrofit vehicles that are not connected via factory-fitted telematics units. Bright Box provides services to OEMs and dealers in the Middle East, CIS, Europe and US. At year-end 2018, the company connected about 800,000 cars, out of which over 590,000 were aftermarket OBD-dongles.
'Inclusion in this report among the leading telematics vendors and suppliers in Europe indicates the success of the company and its recognition in this market. The number of users and customers of our platform is growing that also confirms the success position of the company and the growth of the market as a whole", said Denis Rastorguev Managing Director Europe at Bright Box.