According to a recent market study published by Growth Market Reports, titled, “Global Electric Vehicle Telematics Market by type, by vehicle type, by application, by Region: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at US$ 9,889.5 Million in 2021 and is expected to grow at a moderate growth rate of 33.5% by the year 2030.

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As per Growth Market Reports industry analyst Akash Vedpathak, “Global Electric Vehicle Telematics Market is anticipated to witness significant growth during the forecast period 2022-2030. Telematics used in EVs gather data from GPS and DTG (Digital Tachometer Graph) to show the state of the vehicle in terms of time taken, over-speeding in the journey, distance traveled, warnings, malfunctioning, and records exceptional events. EV telematics provides various advantages, such as sending notifications to charging stations, constant charging updates, and V2G (vehicle-to-grid communication).

Key factors that are anticipated to fuel the demand for the global Electric Vehicle Telematics market during the forecast period are rising demand for EVs, high-end features, and increasing R&D investments. Conversely, high cost of EV telematics, and privacy and security issues may hamper the market growth of the Electric Vehicle Telematics market. The development of self-driving electric vehicle technology creates opportunities for the market.

Value chain management is an essential part of any business. A value chain is a series of activities carried out by a company in a specific industry in order to deliver a valuable product to the end customer. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product.

The primary, as well as secondary research methodology, is used for keen observation and study about Electric Vehicle Telematics market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects.

Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry.

On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

Vendors of Electric Vehicle Telematics were affected during the pandemic, due to the restrictions and closure of global industries. Import and export facilities were affected due to transport restrictions. The pandemic led to disruptions in value chain, exports, large-scale manufacturing, transportation, and closing of manufacturing plants. This, in turn, hampered the Electric Vehicle Telematics market.

COVID-19 impeded the supply side, due to travel and transport restrictions imposed by countries such as China and the US. Suppliers faced difficulties in the export and import of components. Demand for Electric Vehicle Telematics decreased during the pandemic, due to the closure of manufacturing units during the lockdown. This, in turn, impeded the market. Furthermore, governments imposed various restrictions on trade and commerce, which hampered various sectors. Governments of various countries-imposed lockdowns, which impeded the Electric Vehicle Telematics market.

Key Takeaways from the Study

  • In terms of type, the Hardwired Install Telematics segment accounted for a considerable share of the market in 2021.
  • Based on vehicle type, the 2 Wheelers segment accounted for a substantial share of the market in 2021 and is expected to expand at a substantial CAGR during the forecast period.
  • On the basis of application, the Safety & Security segment accounted for a considerable share of the market in 2021.

Report Scope

Report Metric

Details

Market Value in 2021

US$ 9,889.5 Million

Market Growth Rate (from 2015 to 2030)

33.5%

Historical Data

2015-2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (US$ Million)

Market Segments

By type, by vehicle type, by application

Key Companies Profiled

Verizon, Continental AG, Robert Bosch GmbH, HARMAN International., Geotab Inc, Azuga, Electrodrive Powertrain Solutions Pvt. Ltd., Trimble Inc., ChargePoint, Inc, and Intellicar Telematics.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Vendors, component suppliers, and distributors
  • Demand Side: Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.