Global Electric Vehicle Telematics Market is valued at approximately USD 8.05 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 22.4% over the forecast period 2023-2030. Electric vehicle (EV) telematics refers to the integration of telecommunications and informatics technologies with electric vehicles to enable real-time monitoring, data collection, and remote communication with these vehicles. Telematics systems in EVs consist of hardware and software components that work together to gather, process, and transmit data related to the vehicle’s performance, location, and other relevant metrics. The Electric Vehicle Telematics market is expanding because of factors such as the rising adoption of electric vehicles and the rising integration of connectivity and IoT technology in electric vehicles.
As the adoption of electric vehicles increases, the demand for telematics solutions tailored for EVs also grows. Telematics plays a crucial role in monitoring and optimizing EV performance, managing battery life, and enhancing the overall user experience. The International Energy Agency estimates that there were more than 16.5 million electric vehicles in use worldwide in 2021, an increase of 61% is 10.2 million units in the year 2020. Furthermore, Norway’s government announced to prohibit the sales of ICE vehicles by the year 2025, France by 2040, and the UK by 2050. This prohibition would lead to a rise in the adoption of electric vehicles, resulting in market growth. In addition, the integration of smart grids and energy management and the demand for advancement in technologies to enhance EV operations are some factors creating new opportunities for market growth. However, the high cost of electric vehicle telematics and security concerns stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Electric Vehicle Telematics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to factors such as rising adoption of electric vehicles, rising government initiative to promote the adoption of electric vehicle telematics, and increased technological advancement. Whereas, Europe is projected to register significant growth owing to factors such as the rising automotive industry, rising government initiatives for promoting the adoption of electric vehicles, rising investment in connectivity and IoT integration in electric vehicles in the region.
Major market player included in this report are:
Robert Bosch GmbH
Intellicar Telematics Private Limited (ITPL)
Recent Developments in the Market:
Ø In February 2022, Otonomo Technologies Ltd., an Israeli platform for exchanging car data, acquired USD 69 million from the UK-based vehicle telematics company Floww. As a result, the mobility intelligence platform of Otonomo might incorporate Floww car telematics technologies.
Ø In March 2022, Utility Trailer Manufacturing Co. launched Utility Connect in collaboration with Philips for trailer telematics. The Phillips Connect Smart7 nose box is compatible with the Utility Connect system’s electrical harness due to its re-engineering.
Global Electric Vehicle Telematics Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Technology, Vehicle Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
Safety & Security
Information & Navigation
Middle East & Africa
Rest of Middle East & Africa