Stolen Vehicle Recovery (SVR) represents a thriving automotive technology offering that only continues to grow as the solutions grows more comprehensive, streamlined, and affordable – all backed by Internet of Things (IoT) technology.
The market growth for SVR is anticipated to reach $13.4 million by 2023, an increase from $9.3 million in 2017. In short, this solution is expected to continue its reach both in the consumer and industry sectors.
Tracker, the United Kingdom’s number one supplier of SVR solutions, has been able to recover hundreds of millions worth of stolen vehicles in its 25 years of experience with their award-winning telematics systems. This growing trend of automotive security led Tracker to turn to IoT experts to help revolutionize and streamline their operations to further enhance its product.
What is Stolen Vehicle Recovery?
SVR utilizes Location-Based Services via a sensor hidden in a vehicle that, when stolen, leverages connectivity to be found by law enforcement. This battery-operated sensor only uses a vehicle’s location data when needed, thus making it a low-power device that operates generally using a radio signal for comprehensive coverage, no matter where a vehicle is located or moves.
Joining the Fray of Suppliers
When it comes to SVR systems, options on the market abound. In order to differentiate for a competitive solution, OEMs must provide their customers with reliable Location-Based Services and telematics capabilities in an easy-to-use format. This means sourcing devices and connectivity simply and streamlined, for the highest reliability and cost feasibility.
Having spent more than two decades in the automotive security industry and seen immense growth, Tracker wanted to revolutionize its operations through a trusted IoT partner.
KORE stood out amongst other IoT providers with its knowledge and expertise in IoT and Location-Based Services solutions. Together, KORE and Tracker streamlined its carrier and connectivity management, reduced monthly costs due to excess data, and enabled growth through simplifying technical integrations and processes.
As an industry leading IoT solutions provider and trusted advisor, KORE was able to help Tracker swiftly meet its goals.
Read the full Tracker case study to learn how KORE can bring your IoT solution to market faster with a customizable, full-scale solutions from connectivity to devices and everything in between.