The global automotive electric vehicle telematics market is likely to gain momentum from rising government regulations to reduce the emission of carbon dioxide in the atmosphere. This information is published in a recent study by Fortune Business Insights, titled, “Global Automotive Electric Vehicle Telematics Market Size, Share & Industry Analysis, By Type (embedded, retrofitted), By Market (OEMs, aftermarket), By Service (safety & security, entertainment, information & navigation, diagnostics, others), and Regional Forecasts, 2019-2026.” The study further mentions that the market is projected to reach 22.7 Million units by 2026, thereby exhibiting a CAGR of 33.3% during the forecast period. However, the global automotive electric vehicle telematics market size was at 2.2 Million units in 2018.
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Fortune Business Insights lists out some of the most common organizations operating in the automotive electric vehicle telematics market. They are as follows:
- Trimble, Inc.
- TomTom International B.V.
- Robert Bosch GmbH
- Continental A.G.
- Airbiquity, Inc.
- Agero, Inc.
- Other key players
The study analyzes and identifies the current and upcoming opportunities in the market by examining the biggest and the fastest growing segments across various regions. It offers in-depth information regarding the global automotive electric vehicle telematics market trends, technological advancements, GDP, cost of the products, growing innovations, population size, and growth drivers.
Key Segmentation of Electric Vehicle Telematics Market:
- Braking Systems
- Body Electronics
- Advanced Driver-Assistance System (ADAS)
By Vehicle Type
- Passenger Car
- Electric Vehicl
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, France, and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
- Rest of the world
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High Demand for Technologically Advanced Telematics to Drive Market Growth
Several countries are adopting technologically advanced telematics because they increase the efficiency of the vehicle and prevent the charge of the battery from reducing. These factors are anticipated to boost the automotive electric vehicle telematics market growth during the forecast period.
Furthermore, driving has become safer due to several advancements in telematics. It not only detects the location and route of the vehicle but also examines the user’s driving behavior. Additionally, it keeps track of the vehicle and notifies the driver if there is any requirement of maintenance to prevent the possible collisions. That is why, the demand for technologically advanced electric vehicle telematics is increasing day by day.
Rising Research & Development Activities by Key Players to Favor Growth in Asia Pacific
Geographically, the automotive electric vehicle telematics market is categorized into Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. Out of these regions, Asia Pacific is expected to exhibit a notable growth. It is likely to happen as China is one of the leading countries for electric vehicle telematics. Besides, the major market players present in this region are persistently investing huge sums in research and development activities to bring in technological development of telematics applications. They are also striving to raise the sales and production of passenger vehicles across Asia Pacific. All these factors together are projected to increase the automotive electric vehicle telematics market share in this region.
Trimble Inc. Collaborates with Qualcomm Technologies to Develop Highly Accurate Positioning Solutions
In September 2019, Trimble Inc., a renowned company specializing in SaaS technology, based in California, announced that it is partnering up with Qualcomm Technologies, multinational semiconductor and telecommunications equipment company, headquartered in the U.S. The main aim of the collaboration is to develop precise-positioning solutions for limited automotive applications. Trimble will combine its RTX technology with Qualcomm Snapdragon Automotive 4G and 5G platforms to provide a highly innovative and accurate solution.
According to the company, the solution is very significant for controlling in-lane positioning. The latest solution will propel the rapid adoption of emergency services applications and road-level navigation. Combined with these, it will help in satisfying all the requirements for creating autonomous driving solutions as well as advanced driver assistance systems (ADAS). Overall, renowned companies are focusing on strategic collaborations to strengthen their position in the market.
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