Press release
Major Market Shift in Electric Vehicle Telematics Industry: Companies Embrace GPS Data Analysis Technology In The Electric Vehicle Telematics Market
Electric Vehicle Telematics Market
The electric vehicle telematics market will grow from $10.39 billion in 2024 to $12.79 billion in 2025, at a CAGR of 23.1%. The growth is attributed to increased vehicle tracking, remote diagnostics, charging infrastructure integration, fleet management, and predictive maintenance.
The electric vehicle telematics market will grow to $26.48 billion by 2029 at a CAGR of 20.0%, supported by connected vehicle services, energy forecasting, and charging station predictions. Trends include telematics technology advancements, smart grid integration, and data security.
What Factors Are Propelling the Expansion of the Electric Vehicle Telematics Market?
The growing popularity of electric vehicles is expected to propel the growth of the electric vehicle telematics market. The demand for electric vehicles is due to improved charging infrastructure, increasing consumer interest, and various environmental regulations. Electric vehicle telematics enhances the functionality and efficiency of electric vehicles by providing real-time data, remote monitoring, predictive maintenance, and connectivity features. For instance, in July 2023, the Electric Vehicle Council of Australia reported a surge in EV sales, with electric vehicles now constituting 8.4% of new car sales, reflecting a 120.5% rise from 2022. Therefore, the growing popularity of electric vehicles is driving the electric vehicle telematics market.
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Which Businesses Are at the Forefront of Electric Vehicle Telematics Market Development?
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
How Is the Electric Vehicle Telematics Market Segmented?
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
Subsegments:
1) By Embedded: In-Vehicle Telematics Systems, OEM Integrated Telematics, Cloud-Based Telematics Platforms, On-Board Diagnostic (OBD) Systems
2) By Retrofitted: After market Telematics Devices, Plug-And-Play Telematics Kits, Mobile-Based Retrofitting Solutions, External Telematics Units For EVs
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Where Is the Electric Vehicle Telematics Market Growth Most Prominent?
Asia-Pacific was the largest region in the electric vehicle telematics market in 2024. 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.
What Is Covered In The Electric Vehicle Telematics Global Market Report?
- Market Size Analysis: Analyze the Electric Vehicle Telematics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Vehicle Telematics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Vehicle Telematics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Vehicle Telematics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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