SAN ANTONIO, TX. – 11th Oct, 2023 – Recently, Frost & Sullivan analyzed the telematics connectivity for the leasing, rental, and usage-based insurance (UBI) market and, based on its analysis, recognizes Targa Telematics with the 2023 European Company of the Year Award. The company develops and provides Internet of Things (IoT) solutions spanning a thorough spectrum of features and capabilities. It is the second leading telematics company in Europe, and its customers include most Italian insurtech companies and globally recognized brands in various sectors. It leverages the interaction between drivers and connected vehicles to deliver cost savings, improve driver safety, and reduce carbon dioxide emissions.
Targa Telematics serves clients across various industry verticals and has over 950 clients in Europe. It creates innovative products and purpose-built solutions that enhance customer experiences through continuous client and partner engagement. It also combines deep-seated domain and operational knowledge with advanced IoT and smart mobility technologies to provide robust telematics solutions. Maintaining open and continuous communication with clients ensures that the company’s product roadmap is data-driven and aligns with client challenges, including internal digitalization processes, optimization, and mobility solution needs.
Rajesh Depores, industry analyst for mobility at Frost & Sullivan, noted, “Targa Telematics’ agnostic and composable solutions, including hardware components, microservices, and operated services, offer a compelling value proposition that underpins its sustained success. With unlimited custom configurations and strong core architecture, it can address clients’ unique needs and challenges.”
Targa Telematics closely monitors emerging market trends and evolving client demands, responding with novel solutions. Its focus on new products and feature development gives it a competitive advantage because it provides clients with industry-first, leading solutions. With its innovative and integrated fleet management and car-sharing platform, the company focuses its growth on connected vehicles and smart mobility in the region to sustain market leadership. Successful acquisitions enable Targa Telematics to consolidate and synergize leading expertise and technologies and solidify itself as the key developer of “mobility of the future” solutions, giving it strong regional coverage.
Nicola De Mattia, CEO at Targa Telematics, commented, “This award further highlights the company’s added value in this field and its enduring commitment to Innovation, Research and Development – a fundamental pillar of our organization— as well as collaborative customer partnerships. It also strengthens the market positioning in our areas of expertise: the rental and leasing industry, as well as insurance. Our continuous investment in cutting-edge technology and co-creation with clients empowers them to extract maximum value from advanced digital solutions like AI and machine learning, leveraging our profound industry knowledge and expertise. Additionally, our recent acquisition of Viasat Group positions us to provide even greater international support to our clients as they embark on their digital transformation journey and explore smart mobility solutions.”
“With unlimited custom IoT and smart mobility configurations and strong core architecture, Targa Telematics enables businesses, organizations, and communities to utilize connected technologies fully. The company has a reputation for offering the overall best in the telematics connectivity market,” added Elizabeth Whynott, best practices research analyst at Frost & Sullivan.
Each year, Frost & Sullivan presents a Company of the Year Award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.