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