Electric Vehicle Telematics Market Overview, Outlook, Size, Share, Demand 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Electric Vehicle Telematics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $22.21 Bn In 2028 At A CAGR Of 20.9% :

The electric vehicle telematics market size has grown exponentially in recent years. It will grow from $8.41 billion in 2023 to $10.39 billion in 2024 at a compound annual growth rate (CAGR) of 23.5%. The growth in the historic period can be attributed to increased vehicle tracking, remote diagnostics, charging infrastructure integration, increased fleet management, range prediction, driver behavior monitoring, over-the-air updates, energy management, predictive maintenance, and eco-driving feedback.

The electric vehicle telematics market size is expected to see exponential growth in the next few years. It will grow to $22.21 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to increasing demand for connected services in vehicles, battery state of charge (SoC) prediction, driving range estimation, energy consumption forecasting, charging station availability prediction, traffic conditions analysis, weather conditions impact assessment, driver behavior forecasting, route optimization, vehicle health prediction, demand for charging services prediction. Major trends in the forecast period include advancements in telematics technology, expansion of charging infrastructure, integration with smart grids and under management systems, redshift towards usage-based insurance models, enhanced focus on data security and privacy, and emergence of innovative applications like V2X communication.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=14350&type=smp

Electric Vehicle Telematics Market Major Segments
The electric vehicle telematics market covered in this report is segmented -

1) By Technology: Embedded, Retrofitted
2) By Vehicle Type: Two Wheelers, Passenger Vehicles, Commercial
3) By Application: Safety And Security, Entertainment, Information And Navigation, Diagnostics, Other Applications

Key Driver - Rising Popularity Of Electric Vehicles Fuels Growth In The Electric Vehicle Telematics Market

The growth in popularity of electric vehicles is expected to propel the growth of the electric vehicle telematics market going forward. The popularity of electric vehicles refers to the increasing adoption of vehicles powered by electricity and electric motors, replacing traditional internal combustion engine (ICE) vehicles. The demand for electric vehicles is due to improved availability of charging infrastructure, increased consumer interest, and various environmental regulations. Electric vehicle telematics enhances the functionality and efficiency of electric vehicles by providing real-time data, remote monitoring and control, predictive maintenance, and connectivity features. For instance, in July 2023, according to the Electric Vehicle Council, an Australia-based national body, Australia recorded a significant surge in electric vehicle (EV) sales, reaching 46,624 by June 2023, nearly tripling from the same period in 2022, marking a 269% increase. EVs now constitute 8.4% of new car sales, showing a 120.5% rise from 2022. Therefore, the growth in popularity of electric vehicles is driving the growth of the electric vehicle telematics market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=14350&type=smp

Prominent Trend - Companies Embrace GPS Data Analysis Technology In The Electric Vehicle Telematics Market

Major companies operating in the electric vehicle telematics market are focused on developing new technologies, such as global positioning system data analysis technology, to gain a competitive edge in the market. GPS data analysis technology involves the processing, interpretation, and extraction of valuable insights from global positioning system (GPS) data. It utilizes algorithms, statistical methods, and visualization techniques to analyze location-based information obtained from GPS satellites. For instance, in May 2022, Quartix, a UK-based technology company, launched a new service called EVolve. The service is designed to help companies manage their transition to electric vehicles by analyzing a fleet's GPS data, vehicle types, distances traveled, and current information on EV vehicles and charging points. It simplifies the process of choosing which EVs to add to the fleet and helps reduce fleet emissions. The tool will help fleets make key decisions based on their real-world data and de-mystify the transition to electric vehicles.

Electric Vehicle Telematics Market Players
Major companies operating in the electric vehicle telematics market are Verizon Communications Inc., Robert Bosch GmbH, Tesla Inc., Siemens AG, Denso Corporation, Continental AG, Hundai Kefico, Toyota Industries Corporation , Valeo Corporation, Infineon Technologies AG, Renesas Electronics, HARMAN International, Microchip Technology, Trimble Inc., Vishay Intertechnology Inc., Geotab Inc., Agero Inc., Inventure Ltd., TomTom International BV, Danfoss, Azuga Inc., Airbiquity Inc., Hangzhou Tiecheng Information Technology , Intellicar Telematics

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/electric-vehicle-telematics-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the electric vehicle telematics market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Vehicle Telematics Market Report Structure
3. Electric Vehicle Telematics Market Trends And Strategies
4. Electric Vehicle Telematics Market - Macro Economic Scenario
5. Electric Vehicle Telematics Market Size And Growth
…..
27. Electric Vehicle Telematics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

"Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "

"Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."

This release was published on openPR.