Electric Vehicle Telematics Market Value to Reach USD 42.12 Billion by 2030; Demand for Innovative Technologies to Boost EV Operations to Fuel Market Progress

The global electric vehicle telematics market size touched USD 8.50 billion in 2022 and is predicted to reach USD 10.24 billion in 2023. The market is anticipated to touch USD 42.12 billion by 2030, recording a CAGR of 22.4% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Electric Vehicle Telematics Market Size, Share & COVID-19 Impact Analysis, By Technology (Embedded, Retrofitted), By Vehicle Type (Two Wheelers, Passenger Vehicles, Commercial Vehicles), By Application (Safety and Security, Entertainment, Information and Navigation, Diagnostics, Others), and Regional Forecasts, 2023-2030”.

Electric vehicle telematics is a field that is still in its nascent stage but has displayed great promise due to the growing demand for electric vehicles and the need for incorporating innovative technologies to enable their efficient use. Telematics utilizes information and telecom technologies to offer real-time data on a vehicle’s performance. Customers can greatly benefit from using these solutions as they closely monitor the vehicle’s battery status, performance, and range on a real-time basis. This information can help fleet operators manage their vehicles more efficiently and carry out predictive maintenance to detect minor issues and resolve them before they become a major problem. These factors are expected to boost the electric vehicle telematics market growth during the forecast period.

COVID-19 Outbreak Had Mixed Impact on Market as EV Production Slumped Yet Witnessed High Demand in Some Regions

The COVID-19 pandemic had a mixed effect on the market as the outbreak created several supply chain challenges for the EV manufacturing sector. These disruptions delayed the production of EVs as there was a severe shortage of raw materials and other vital components. This scenario compelled automakers to shut down their production plants for a temporary period. However, the outbreak also played a vital role in boosting the adoption of EVs in certain regions. For example, Europe saw a notable rise in the sales of EVs in 2020, despite a notable decline in the total car sales due to the pandemic. These developments caused a mixed impact on the electric vehicle telematics market share during this period.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/electric-vehicle-telematics-market-101655

Demand for Innovative Technologies to Boost EV Operations to Fuel Market Progress

The usage of machine learning algorithms and innovative data analytics to support the effective operation of electric vehicles and their charging infrastructure is a notable trend seen in the electric vehicle telematics industry. End-users are using predictive analytics and maintenance solutions to detect any potential issues in EVs or their charging stations beforehand so that they do not become a major challenge in the future. Companies are also creating sophisticated EV charging infrastructure to push the sustainable operation of EVs. This infrastructure is expected to use innovative charging technologies, which will automatically adjust the charging rates and schedules on the basis of the availability of green energy sources and other aspects. These initiatives will drive the market progress in the coming years.

Competitive Landscape

Companies to Develop Innovative Products to Gain Strong Competitive Edge

Leading market players, such as TomTom, Geotab Inc., Robert Bosch, and Continental AG, are dominating the electric vehicles telematics market. TomTom is using high-precision maps, advanced navigation software, and real-time traffic information & services to make mobility more efficient and sustainable. Bosch is another company that is developing and offering innovative software for electric vehicles telematics.

Notable Industry Development:

• February 2022: Otonomo Technologies Ltd., a car data exchange platform in Israel, acquired the U.K.-based vehicle telematics company Floww for USD 69 million. This would allow Otonomo’s mobility intelligence platform to incorporate Floww’s vehicle telematics tools.

List of the Companies Profiled in the Report:

• TomTom International (Netherlands)


• Robert Bosch GmbH (Germany)


• Continental AG (Germany)


• Trimble, Inc (U.S.)


• Geotab Inc (Canada)


• CSS Electronics (Denmark)


• Intellicar (India)


• Inventure Ltd (Hungary)


• Agero, Inc (U.S.)


• Airbiquity, Inc (U.S.)

Further Report Findings

• Asia Pacific is expected to account for the largest share in the global market as the region is noticing tremendous rise in the sales of connected vehicles that are equipped with sensors and other advanced technologies. These technologies will offer real-time vehicle data and insights to car owners, thereby enhancing their driving experience. Governments across Asia are also introducing various initiatives to support the usage of vehicle telematics, further accelerating the regional market’s growth.


• The Europe market is estimated to display commendable growth during the forecast timeframe as the regional governments are implementing stringent regulations to control the volume of vehicle emissions. European carmakers are also focusing decreasing the vehicle accident rate by offering advanced vehicle security technologies, thereby fueling the market’s expansion in the region.


• The information & navigation segment is expected to dominate the market during the forecast period. These telematics systems offer drivers weather reports and traffic updates on a real-time basis. This information can help them smoothly navigate through heavy traffic and avoid dangerous situations. Also, when drivers receive such information beforehand, it can save their time and make their driving experience pleasant and convenient. These factors will contribute to the segment’s growth.

Table of Segmentation