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Electric Vehicle Telematics Market - Forecasts from 2021 to 2026

  • ID: 5332649
  • Report
  • May 2021
  • Region: Global
  • Knowledge Sourcing Intelligence LLP

FEATURED COMPANIES

  • Agero, Inc.
  • Airbiquity Inc.
  • Azuga, Inc.
  • Continental AG
  • ERM Advanced Telematics
  • Geotab Inc.
Global electric vehicle (EV) telematics market is projected to grow at a CAGR of 10.75% during the forecast period, reaching a total market size of US$5.132 billion in 2026 from US$2.511 billion in 2019. Telematics is a method of monitoring a vehicle. By combining a GPS with on-board diagnostics it's possible to record - and map - exactly where a car is and how fast it's traveling, and cross-reference that with how a car is behaving internally. The market shows the possibility of growing into an influential market as it has been playing a significant role in impressing positive impacts on the international economy. The need for Electric Vehicle Telematics is slowly increasing and will become a necessity as it offers a wide range of possibilities such as effective route management, energy and charge reporting, GPS vehicle tracking, and battery health monitoring, along with all the other aspects of the equation.





Telematics can be integrated with all solutions of vehicles and vehicle fleets in a variety of ways; the three primary capabilities of telematics include wireless communication, location services, and GPS location tracking, and a computing platform for system control and interface to automotive electronic systems. Rapid urbanization, fast industrial growth, and advancement in telematics services/devices are leading the way for vehicle health monitoring and communication solutions. The rising trend of usage of telematics in electric vehicles is boosting the demand for telematics software and devices. This, in turn, is compelling OEMs to produce telematics-equipped vehicles or provide telematics devices to make them more user-friendly and to improve the services across the globe. The key players are trying to commercialize the usage of Telematics systems in vehicles. Car telematics has the potential to increase road safety, improve driving behavior, align insurance premiums with actual need via usage-based insurance (UBI), and boost car-insurance-industry profitability, all these benefits are fueling the global electric vehicle telematics market. Many key players in the market are devising new strategies to innovate and become the market leader. For instance, Robert Bosch GmbH, in July 2019, announced the development of cloud services to help electric vehicle batteries last longer. The cloud service will analyze the status of batteries constantly and take action to prevent cell aging.

Geographically, Asia Pacific is expected to grow at an impressive rate owing to the increasing usage of telematics devices in this region. Currently, America has a considerable amount of share in the market. Europe is also expected to exhibit lucrative growth owing to the imposition of stringent rules and norms regarding the reduction of emissions. North America is projected to grow considerably due to the presence of prominent key players in the region, such as TomTom International B.V. By Solution, Some of the big players like BOSCH are using device-based telematics more than the software-based telematics solutions as the suitability of device-based telematics is much more compared to the software-based. By Vehicle Type, Hybrid Electric Vehicles hold a good amount of share as most the people use hybrid electric vehicles. By Vehicle Weight, the light segment holds a significant share in the market while heavy vehicles are projected to witness a decent CAGR over the coming years.

Growth Factors: Constant development in batteries

The increasing popularity of high-charge capacity enabled batteries is expected to boost the demand for electric vehicles in the market. To provide long-term power, manufactures have been emphasizing the development of innovative batteries, which is expected to propel the growth of the market. In addition, constant research and development in the field of lithium-sulfur, metal-air, and aluminum-ion batteries is set to boost the electric vehicle telematics market growth during the forecast period.

Strict Government regulations for pollution reduction

The government across the globe are taking stringent steps towards reducing pollution caused by vehicles by imposing stringent laws and restrictions on the makers. Governments across the world are pressurizing automakers to manufacture environment-friendly vehicles. The growth of electric vehicle telematics is driven by the increasing restrictions on the usage of internal combustion engines by the governments. The regulatory agencies are encouraging people to purchase low or zero-emission cars by luring them with tax exemptions or tax reductions or by offering them discounts. For instance, in India, the National Highway Traffic Safety Administration and EPA regulate the automotive industry.

Restraints: Privacy and Security issues

The raising safety and privacy concerns associated with breaking methods, GPS systems, and user driving patterns may hinder the growth of the market. The linked system can access confidential information such as family details, medical history, routes taken, and addresses. The breach of such confidential information may cause a hindrance to the growth of the market. For instance, in China and North America violation of data privacy is very prevalent so the regulations are very stringent.

Impact of COVID - 19.

The novel coronavirus pandemic has impacted the electric vehicle telematics market negatively. Due to the nationwide lockdown, the production of electric vehicles has been restricted due to which the automotive industry has experienced a slowdown. The operations of key players have been affected by the pandemic. The majority of the companies had to shut down or cut down on their operations. Thus, the Global Electric Vehicle Telematics market has experienced a severe slow down to the pandemic, which may take years to recover.

Competitive Insights

Some of the key market players in the Global Electric Vehicle Telematics market are Airbiquity Inc., Geotab Inc. Azuga, Inc., ViriCiti BV., ERM Advanced Telematics, The Hundert, Continental AG, Agero, Inc., Robert Bosch GmbH, and TomTom International BV.

Segmentation:

By Solution
  • Hardware
  • Software
  • Services
  • By Vehicle Solution
  • Battery Electric Vehicles (BEVs)
  • Plug-In Hybrid Electric Vehicles (PHEVs)
  • Hybrid Electric Vehicles (HEVs)

By Vehicle Weight
  • Light
  • Heavy

By Geography
  • North America
  • USA
  • Canadá
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • Israel
  • Others
  • Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Others
Frequently Asked Questions about the Electric Vehicle Telematics Market

What is the estimated value of the Electric Vehicle Telematics Market?

The Electric Vehicle Telematics Market was estimated to be valued at $2.5 billion in 2019.

What is the growth rate of the Electric Vehicle Telematics Market?

The growth rate of the Electric Vehicle Telematics Market is 10.8%, with an estimated value of $5.1 billion by 2026.

What is the forecasted size of the Electric Vehicle Telematics Market?

The Electric Vehicle Telematics Market is estimated to be worth $5.1 billion by 2026.

Who are the key companies in the Electric Vehicle Telematics Market?

Key companies in the Electric Vehicle Telematics Market include Airbiquity Inc., Geotab Inc., Azuga, Inc., ViriCiti BV., ERM Advanced Telematics, Trimble, Inc., Continental AG and Robert Bosch GmbH.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Agero, Inc.
  • Airbiquity Inc.
  • Azuga, Inc.
  • Continental AG
  • ERM Advanced Telematics
  • Geotab Inc.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Electric Vehicle Telematics Market Analysis, By Solution
5.1. Introduction
5.2. Hardware
5.3. Software
5.4. Services
6. Global Electric Vehicle Telematics Market Analysis, By Vehicle Type
6.1. Introduction
6.2. Battery Electric Vehicles (BEVs)
6.3. Plug-In Hybrid Electric Vehicles (PHEVs)
6.4. Hybrid Electric Vehicles (HEVs)
7. Global Electric Vehicle Telematics Market Analysis, By Vehicle Weight
7.1. Introduction
7.2. Light
7.3. Heavy
8. Global Electric Vehicle Telematics Market Analysis, By Geography
8.1. Introduction
8.2. North America
8.2.1. North America Electric Vehicle Telematics Market Analysis, By Solution
8.2.2. North America Electric Vehicle Telematics Market Analysis, By Vehicle Type
8.2.3. North America Electric Vehicle Telematics Market Analysis, By Vehicle Weight
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. South America Electric Vehicle Telematics Market Analysis, By Solution
8.3.2. South America Electric Vehicle Telematics Market Analysis, By Vehicle Type
8.3.3. South America Electric Vehicle Telematics Market Analysis, By Vehicle Weight
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe
8.4.1. Europe Electric Vehicle Telematics Market Analysis, By Solution
8.4.2. Europe Electric Vehicle Telematics Market Analysis, By Vehicle Type
8.4.3. Europe Electric Vehicle Telematics Market Analysis, By Vehicle Weight
8.4.4. By Country
8.4.4.1. UK
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Spain
8.4.4.5. Others
8.5. The Middle East and Africa
8.5.1. Middle East and Africa Electric Vehicle Telematics Market Analysis, By Solution
8.5.2. Middle East and Africa Electric Vehicle Telematics Market Analysis, By Vehicle Type
8.5.3. Middle East and Africa Electric Vehicle Telematics Market Analysis, By Vehicle Weight
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. Israel
8.5.4.3. Others
8.6. Asia Pacific
8.6.1. Asia Pacific Electric Vehicle Telematics Market Analysis, By Solution
8.6.2. Asia Pacific Electric Vehicle Telematics Market Analysis, By Vehicle Type
8.6.3. Asia Pacific Electric Vehicle Telematics Market Analysis, By Vehicle Weight
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. Indonesia
8.6.4.5. Others
9. Competitive Intelligence
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investment and Deals
9.3. Strategies of Key Players
10. Company Profiles
10.1. Airbiquity Inc.
10.2. Geotab Inc.
10.3. Azuga, Inc.
10.4. ViriCiti BV
10.5. ERM Advanced Telematics
10.6. Trimble, Inc.
10.7. Continental AG
10.8. Agero, Inc.
10.9. Robert Bosch GmbH
10.10. TomTom International BV.
Note: Product cover images may vary from those shown
  • Airbiquity Inc.
  • Geotab Inc.
  • Azuga, Inc.
  • ViriCiti BV.
  • ERM Advanced Telematics
  • Trimble, Inc.
  • Continental AG
  • Agero, Inc.
  • Robert Bosch GmbH
Note: Product cover images may vary from those shown