Global Electric Vehicle Telematics Market 2018-2022
About Electric Vehicle Telematics
Telematics provides the connection to utilities, grid operators, data providers, and owners’ smartphones. Electric vehicle telematics delivers information on electric usage, pricing, and state of charge to smartphones, while connected vehicle telematics is used to deliver additional content and provide unique tools for electric vehicle owners.
Technavio’s analysts forecast the global electric vehicle telematics market to grow at a CAGR of 44.28% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric vehicle telematics market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Vehicle Telematics Market 2018-2022
Technavio recognizes the following companies as the key players in the global electric vehicle telematics market: Agero, Airbiquity, Bosch, Continental, TomTom International, and Trimble.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of multiple battery types for powering electric vehicle telematics. Electric vehicle makers are developing multiple types of power sources for efficiently powering the internal components of an electric vehicle without affecting its overall traveling range.”
According to the report, one driver in the market is governing bodies increasing stringency of emission regulations. Government bodies of various regions are upgrading emission standards to reduce the amount of pollution caused due to vehicles. Rising sales of vehicles in the automotive industry is a major contributor to declining air quality. Hence, government bodies are upgrading emission standards to encourage vehicle makers to market non-polluting green vehicles.
Further, the report states that one challenge in the market is increased ownership cost of electric vehicles. Electric vehicles have a higher cost of ownership as compared to conventional vehicles. The high-capacity lithium-ion battery used in these vehicles and the combined cost of electronic features installed in the vehicle significantly increase the vehicle price. The high cost of ownership regarding electric vehicles is a challenge for the electric vehicle telematics market.