Electric Vehicle Telematics Market Expansion Continues, with Forecast Valuation of $26.48 Billion by 2029

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Electric Vehicle Telematics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the size of the electric vehicle telematics market has significantly escalated. The market, valued at $10.39 billion in 2024, is projected to increase to $12.79 billion in 2025, indicating a compound annual growth rate (CAGR) of 23.1%. The upsurge during the historic period can be traced back to the augment in functions like vehicle tracking, remote diagnostics, integration of charging infrastructure, enhancement in fleet management, prediction of range, monitoring of driver behavior, updates over the air, management of energy, maintenance based on prediction, and feedback on eco-driving.

Electric Vehicle Telematics Market Size Forecast: What's the Projected Valuation by 2029?
The market for electric vehicle telematics is anticipated to witness a swift expansion in the coming years, expected to reach $26.48 billion in 2029 at a CAGR of 20.0%. The surge in growth for the foreseeable future can be attributed to the escalating demand for services such as SoC prediction, driving range estimation, energy usage prediction, availability of charging stations prediction, analysis of traffic conditions, weather impact assessment, driver behavior prediction, route optimization, vehicle health prognosis, and charging service demand prognosis. Foreseeable trends for the upcoming period include advancements in telematics technology, the proliferation of charging infrastructure, collaboration with smart grids and management systems, a shift towards usage-based insurance systems, an amplified focus on data safety and privacy, and the appearance of innovative applications like V2X communication.

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What Are the Drivers Transforming the Electric Vehicle Telematics Market?
The escalating preference for electric vehicles is projected to fuel the expansion of the electric vehicle telematics market in the near future. The rising popularity for electric vehicles is characterized by the growing embrace of cars powered by electricity and electric motors, taking over traditional internal combustion engine-based vehicles. This shift towards electric vehicles is propelled by enhanced charging infrastructure, increasing consumer interest, and numerous environmental regulations. Telematics for electric vehicles augments electric vehicles' functionality and efficiency by offering real-time data, remote monitoring and control, predictive upkeep, and connection features. For example, in July 2023, the Electric Vehicle Council, a national entity based in Australia, reported a considerable jump in electric vehicle sales, amounting to 46,624 by June 2023, nearly three times that of the same period in 2022, a boost of 269%. Electric vehicles now represent 8.4% of new car sales, demonstrating an increase of 120.5% from 2022. Consequently, the burgeoning popularity of electric vehicles is spurring the growth of the electric vehicle telematics market.

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What Long-Term Trends Will Define the Future of the Electric Vehicle Telematics Market?
Leading firms in the electric vehicle telematics market are concentrating on producing new technologies such as global positioning system data analysis technology to maintain competitiveness. The GPS data analysis technology involves processing, interpreting, and drawing useful insights from GPS data. This is achieved through the use of algorithms, statistical methods, and techniques for visualizing location-based information gathered from GPS satellites. For example, Quartix, a tech firm based in the UK, unveiled a new service named EVolve in May 2022. This service is designed to assist businesses in smoothly transitioning to electric vehicles by examining a fleet's GPS data, types of vehicles, distances covered, and current information on EV vehicles and charging stations. It simplifies the decision-making process of which EVs to incorporate into a fleet while also helping reduce fleet emissions. The tool will facilitate key decision-making based on actual data and make the shift to electric vehicles less complicated.

Which Segments in the Electric Vehicle Telematics Market Offer the Most Profit Potential?
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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Which Firms Dominate the Electric Vehicle Telematics Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in the Electric Vehicle Telematics Market?
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.

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