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
