According to a recent market study published by Growth Market Reports, titled, “Global Electric Vehicle Telematics Market by Type (Plug and Play Telematics and Hardwired Install Telematics), Vehicle Type (2 Wheelers, 3 Wheelers, 4 Wheelers (Passenger Cars)), Commercial Vehicles (Trucks & Heavy-Duty Vehicles, Buses), Industrial Vehicles (Forklifts, Excavators, Automated Guided Vehicles (AGVs)), Application (Safety & Security, Entertainment, Information & Navigation, Diagnostics, Battery Pack Telematics, and Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031“, the market size was USD 17.61 Bn in 2022 and is expected to surpass USD 237.17 Bn expanding at a CAGR of 33.5% by the end of 2031. Driver- The market is attributed to rising consumer preference for safety enhancement features in the vehicles and adoption of smart technologies by fleet operators to improve operational efficiency of fleet management operations.
Recent Developments:
On September 5, 2022, Robert Bosch GmbH announced that it has delivered innovative solutions for logistics operators to enhance efficiency, reliability, and safety in fleet management operations. The range of solutions provided by Robert Bosch includes eDistanceTruck powertrain solutions, ServoE, Servotwin, eCityTruck powertrain solutions, and CVT4EV.
Key Market Players Profiled in the Report
- Verizon
- Continental AG
- Robert Bosch GmbH
- HARMAN International
- Geotab Inc
- Azuga
- Electrodrive Powertrain Solutions Pvt. Ltd.
- Trimble Inc.
- ChargePoint, Inc
- Intellicar Telematics
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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, vehicle type, application, and competitor analysis.
This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.
Regional Highlights:
On the basis of region, the global electric vehicle telematics market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to dominate the global market, due to the rising sales of electronic vehicles and research & development in telematics applications in the region.
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Key Takeaways from the Study:
- Electric vehicle telematics provides safety, communication, and navigation through onboard vehicle diagnostics, wireless telematics devices, and GSP systems.
- It offers several benefits such as sending notifications to charging stations, constant charging updates, and V2G (vehicle-to-grid communication).
- Rising consumer preference for vehicles with high-end features that facilitate real-time data about vehicle location and surroundings and monitoring of vehicles remotely for fleet management purposes.
- Increasing adoption of autonomous vehicles for convenience and efficiency is likely to create new opportunities for market players.
- The hardwired install telematics segment is projected to expand at the fastest CAGR during the forecast period, owing to the increasing concerns regarding the safeguarding of data and strict regulations that are fueling the market.
- The 2 wheelers segment is anticipated to hold a major share of the market due to the embedment of telematics in two-wheelers.
- The safety & security segment is expected to dominate the market during the forecast period, owing to the increasing concerns regarding the safeguarding of data and strict regulations.
Read 146 Pages Research Report with Detailed TOC on “Global Electric Vehicle Telematics Market Segments – by Type (Plug and Play Telematics and Hardwired Install Telematics), Vehicle Type (2 Wheelers, 3 Wheelers, 4 Wheelers (Passenger Cars)), Commercial Vehicles (Trucks & Heavy-Duty Vehicles, Buses), Industrial Vehicles (Forklifts, Excavators, Automated Guided Vehicles (AGVs)), Application (Safety & Security, Entertainment, Information & Navigation, Diagnostics, Battery Pack Telematics, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031”
Key Segments Covered
Type
- Plug and Play Telematics
- Hardwired Install Telematics
Vehicle Type
-
- 2 Wheelers
- 3 Wheelers
- 4 Wheelers
- Passenger Cars
Commercial Vehicles
- Trucks & Heavy-Duty Vehicles
- Buses
Industrial Vehicles
-
- Forklifts
- Excavators
- Automated Guided Vehicles
Application
-
- Safety & Security
- Entertainment
- Information & Navigation
- Diagnostics
- Battery Pack Telematics
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Growth Market Reports provides global enterprises as well as small & medium businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. Growth Market Reports has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, and secondary research & consumer surveys.
