The service is delivered through Ituran's proprietary Big Data platform, analyzing anonymized data from more than one million vehicles, representing approximately one quarter of all vehicles in the country1.
Eyal Sheratzky, co-CEO of Ituran, commented, "This project marks an important step in validating the value of our Big Data platform beyond our core telematics and stolen vehicle recovery services.
For Ituran, it launches a new, recurring revenue stream built on data assets we already own.
Mr. Sheratzky continued, "Being awarded our first multi-year commercial contract is a significant advance in our Big Data initiative, one of three new growth initiatives announced earlier this year.
Ituran is also the founder of the Tel Aviv-based DRIVE startup incubator to promote the development of smart mobility technology.