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

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

Related Reports:

• Automotive Telematics Market
• Global Passenger Vehicle Telematics Market
• Global Automotive Telematics Communication System Market
• Global Consumer Vehicle Telematics Markethttps://industrygrowthinsights.com/report/car-telematics-and-wireless-m2m-market/

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