Evolving Market Trends In The Electric Vehicle Telematics Industry: Companies Embrace GPS Data Analysis Technology In The Electric Vehicle Telematics Market

The Electric Vehicle Telematics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Electric Vehicle Telematics Market Size During the Forecast Period?
In recent times, there has been a remble expansion in the market size of electric vehicle telematics. The market is projected to increase from $10.39 billion in 2024 to $12.79 billion in 2025, experiencing a compound annual growth rate (CAGR) of 23.1%. The surge in growth during the historic phase has been credited to factors such as heightened vehicle tracking, remote diagnostics, integration of charging infrastructure, amplified fleet management, range prediction, surveillance of driver behavior, over-the-air updates, energy management, predictive upkeep, and eco-driving feedback.

The market for electric vehicle telematics is anticipated to experience a significant expansion in the forthcoming years, reaching a size of $26.48 billion in 2029 with a compound annual growth rate (CAGR) of 20.0%. The acceleration during the forecast period can be assigned to the rising demand for integrated services within vehicles such as the prediction of battery state of charge (SoC), estimation of driving range, forecast of energy consumption, prediction of charging station availability, analysis of traffic situations, assessment of weather conditions impact, driver behaviour forecast, route optimization, prediction of vehicle health, and expected demand for charging services. Major trends for the forecast duration include the evolution of telematics technology, expansion of charging infrastructure, alignment with smart grids and under management systems, shift towards usage-based insurance models, enhanced focus on data security, maintaining privacy, and the introduction of cutting-edge applications like V2X communication.

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What Are the High-Growth Segments in the Electric Vehicle Telematics Market?
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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What Key Drivers Are Expected to Influence Future Electric Vehicle Telematics Market Growth?
An upward trend in electric vehicles' appeal is projected to fuel the expansion of the electric vehicle telematics market. A growing inclination towards electric vehicles constitutes the accelerated adoption of cars powered by electricity and electric motors, supplanting conventional internal combustion engine (ICE) vehicles. This demand for electric vehicles results from augments in charging infrastructure, heightened consumer interest, and varying environmental regulations. Electric vehicle telematics amplifies the performance and productivity of electric vehicles by contributing real-time data, distant monitoring and control, predictive maintenance, and connectivity features. To illustrate, in July 2023, as documented by the Electric Vehicle Council, a national organization based in Australia, there was a remble boost in electric vehicle (EV) sales, hitting 46,624 by June 2023, almost triple that of 2022 over the same period, an increase of 269%. Today, EVs make up 8.4% of all new car sales, exhibiting a 120.5% rise from 2022. As such, the ascending popularity of electric vehicles fuels the expansion of the electric vehicle telematics market.

Which Companies Hold the Largest Share Across Different Electric Vehicle Telematics Market Segments?
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

What Trends Are Driving Growth in The Electric Vehicle Telematics Market?
Significant companies in the realm of electric vehicle telematics are innovating new technologies such as the analysis of global positioning system data to establish a competitive presence in the market. This technology involves the application of algorithms, statistical methodologies, and visualization techniques to interpret and extract meaningful information from GPS data. As an illustration, Quartix, a technology firm based in the UK, introduced EVolve, a new service in May 2022. This service is engineered to aid companies in their transition to electric vehicles by evaluating their fleet's GPS data, types of vehicles, distances covered, and the latest information on electric vehicles and charging stations. It facilitates the selection process of which electric vehicles to incorporate into their fleet while also aiding in the reduction of fleet emissions. This tool will allow fleets to make crucial decisions influenced by their actual data and will clarify the transition to electric vehicles.

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What Are the Emerging Geographies for The Electric Vehicle Telematics Market Growth?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Vehicle Telematics Market?
2. What is the CAGR expected in the Electric Vehicle Telematics Market?
3. What Are the Key Innovations Transforming the Electric Vehicle Telematics Industry?
4. Which Region Is Leading the Electric Vehicle Telematics Market?

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