Global Electric Vehicle Telematics Market to Surpass USD 177.8 Bn By 2031| Growth Market Reports

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Growth Market Reports

Jul 03, 2023, 04:00 ET

PUNE, India, July 3, 2023 /PRNewswire/ -- According to a recent market study by Growth Market Reports, titled, "Global Electric Vehicle Telematics Market Segments - by Type, Vehicle Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 13.2 Bn in 2022 and is expected to surpass USD 177.8 Bn at a CAGR of 33.5% by 2031.

Key Players Covered

  • 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 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, industry players, and crucial strategies that helps market players to expand their business.

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Key Takeaways:

  • Telematics in EV gather data from GPS and DTG. It shows the state of vehicles in terms of time taken, distance traveled, and other important records.
  • Rising electrification of vehicles and the growing requirement to avoid uncertain circumstances on the road are projected to drive the market.
  • Ability of telematics to determine the vehicle location is likely to boost the market in the coming years.
  • The hardwired install telematics segment is anticipated to dominate the market, owing to the rising concerns of safeguarding data.
  • The 2 wheelers segment is projected to hold a major market share, due to the increasing innovation in two-wheeler industries.
  • Asia Pacific is expected to dominate the global market during the forecast period, owing to the increasing production and sales of EVs.

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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 (AGVs)

Application

  • Safety & Security
  • Entertainment
  • Information & Navigation
  • Diagnostics
  • Battery Pack Telematics
  • Others

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

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SOURCE Growth Market Reports

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