About Electric Vehicle Telematics
Telematics is a communication technology for the automotive industry that flows through a wireless network to a vehicle and is based on the information generated by the vehicle. It is the fusion of wireless communications, location technology, and vehicle electronics that is driving the automotive industry into the information age. The data is generated by the vehicle unit and transferred to the back office system, or the back office system pushes data such as maps, weather forecasts, inventory updates, internet data packets, etc. to the vehicle unit. This communication is done via a mobile phone or a unit mounted on the vehicle. Vehicle communication and location mapping are done via a network of cell towers and satellite systems. Telematics is not a new feature in the automotive industry. Reactivating telematics and becoming a serious competitor in the automotive industry was the advent of smartphones followed by consumer demand for instant, always-on connections. Today, most telematics setups use smartphones to connect to vehicles and access industry content such as media, banking, and insurance. These combined reasons are driving the telematics phenomenon. OEM telematics sales are expected to grow due to a surge in demand
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electric Vehicle Telematics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cisco systems Inc. (United States), TomTom (Netherlands), AirIQ (Canada), Verizon communications inc (United States), Fleetmatics Group (Ireland), MiX Telematics (South Africa), Trimble (United States), Actsoft (United States), KORE (United States) and Masternaut (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Octo telematics ltd (United Kingdom), Gps insight (United States), Zonar systems (United States) and Geotab inc (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Telematics market by Type (Embedded, Retrofitted and Application), Application (Safety and Security, Information, Navigation and Others) and Region.
On the basis of geography, the market of Electric Vehicle Telematics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment, the sub-segment i.e. Hardware will boost the Electric Vehicle Telematics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicles, the sub-segment i.e. Battery Electric Vehicle will boost the Electric Vehicle Telematics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advanced technology is developing EVs with more range and better battery capacity.
Market Growth Drivers:
Growth in EV popularity is driving the telematics market. and Government subsidies and investments in the EV market are boosting telematics market growth.
Challenges:
The high initial cost of investment. and EV cost of purchase is high holding the market from its potential growth.
Restraints:
An increase in the use of communication with vehicles is affecting privacy and security.
Opportunities:
Government updating rules and regulations to promote eco-friendly and low emission vehicles. and High investments in R&D for automotive cars.
Market Leaders and their expansionary development strategies
In February 2021, Cisco (NASDAQ: CSCO) today announced the completion of the acquisition of IMImobile PLC (AIM: IMO). IMImobile is a leading global provider of cloud communications software and services that manage business-critical interactions at scale.
In May 2022, Trimble introduced today the Trimble® BD9250, a dual-frequency OEM GNSS receiver module that supports Trimble RTX® correction services. The receiver is designed to deliver high-accuracy positioning for a range of high volume, autonomous-ready applications used in the agriculture, construction, robotics and logistics industries worldwide.
Key Target Audience
Telematics service providers, EV Manufacturers, New Entrants and Investors, Air Amplifiers Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.