Electric Vehicle Telematics – A Versatile Technology for Automobiles
Vehicle Telematics is defined as the tools and the technologies that are used to monitor a vehicle effectively. Telematics, in other terms, can be defined as the field, which deals with and consists of the combination of telecommunications, vehicular technologies that can include road transport, GPS navigation, safety features among others, and electrical engineering components such as sensors, instrumentation, and systems relating to wireless communication.
There are a variety of applications, which the field of telematics can cater to some of which are discussed below-
Vehicle Tracking - This technology is used to provide the location of the vehicle and its behavior, and is being used extensively by different fleet managers in order to effectively control and mage their fleets and is leading to increased adoption of the industry. This can be done by simply integrating a vehicle tracking and management software or tool, with a GPS system.
Emergency Warning Systems - There has been an increase in the number of road accidents and other factors such as strict regulations, which have led to the implementation of stringent standards in the automotive industry to make the vehicle safer for the driver as well as the occupants present inside, thus minimizing the chances of serious injuries. Emergency Warning systems use different sensors, which are able to alert the driver in case of any obstacles, and vehicles in front among other possible issues that pose a significant danger.
Electric Vehicle Telematics Market Trends
Several efforts are being made by the governments of different countries in order to boost the manufacture of electric vehicles in order to reduce the pollution levels and accelerate the development of the automobile industry. In addition, new features are being implemented in the vehicles to make them more efficient and safer, as a step towards reducing road accidents and enhancing the interaction between the driver and the vehicle. For example, the UK government is proving grants to the automotive owners and dealerships worth £3,000 for purchasing low-emission vehicles or electric vehicles. Some of these include Hyundai IONIQ Electric, Hyundai KONA Electric, Kia Soul EV among others. In addition, the Indian government is promoting programs and schemes such as FAME (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles)(which was launched in 2015) to promote the use of electric and hybrid electric vehicles. Therefore, these measures are bolstering the demand for electric vehicle telematics solutions and augmenting the market growth.
However, some of the factors such as the possibility and security threats regarding the misuse of vehicle data, the moderate installation costs, and availability of internet with poor sped and bandwidth in some areas restrict the growth of the electric vehicle telematics market to some extent.
Product Launches, and Offerings by Industry Players in Electric Vehicle Telematics Market Landscape
Moreover, the industry players are increasingly participating in the market to advance and enhance the Electric Vehicle Telematics solutions in order to effectively manage and control the vehicle functions by integrating the latest driver safety and vehicle monitoring technologies and encouraging the use of such solutions. Thus, they are involved in product launches and offerings to accelerate the development of the automobile industry, thereby boosting their market position and contributing to increasing the Electric Vehicle Telematics market size.
In April 2019, HARMAN International, which is a subsidiary of the famous and one of the leading electronics manufacturing companies Samsung Electronics Co., Ltd. announced that they have launched their new product called the “HARMAN 5G-ready Telecommunications Control Unit (TCU). This product was launched as a step to support the connected technologies of automotive, consumer, and enterprise markets. This product is able to provide enhanced and scalable connectivity between vehicles via mobile networks such as the current 4G network and or the 5G network. Some of the features of the product include top-class reliability, low-latency communication capabilities, which are able to facilitate the reduction in lag experienced by about 50 times and additionally, allowing V2X communication.
In January 2020, Geotab, one of the leading companies that are involved in the manufacture and sale of different vehicle solutions announced the launch of their new telematics product called the “Geotab Integrated Solution”, which has been developed specifically for General Motors. This solution was launched at the event Geotab Connect 2020 and allows the fleet managers to manage their vehicle data such as Chevrolet, Buick, and GMC within the MyGeotab platform via a factory-fitted, GM-engineered OnStar module. In addition, the solution that was launched requires no installation or additional hardware.
In October 2018, ERM advanced telematics, a company involved in the provision of products and technologies for the automotive market that includes hardware and software solutions, announced the launch of two new products under their telematics product line that are aimed improving the quality of by making the use of human voice warnings and visual warnings to the driver. The product is called “eVoice and eFlash SF”, and has been made available to the different customers in 68 countries where ERM is an active player. The product has been specifically developed for different car fleet owners, automakers, and auto importers.
The use of advanced and enhanced automotive and vehicle monitoring solutions is gaining traction and popularity from the last few years owing to the vast number of benefits and other extended features these solutions are able to provide to the driver and the occupants. which is hardware and software-based telematics to hold a significant market share. The current market trends show that the usage of the solutions is going to increase with more new and enhanced features being included integrated into these systems such as NFC, 5G, among some other further technologies, which will not only make the vehicles safer but also improve the standing of electric vehicles in the automotive industry. There is a growing need for such solutions in order to minimize the number of accidents due to driver disturbance or other factors, and also increase the efficiency of the electric vehicles, which will play a major role in fuelling the market growth over the common g years and keep the market competitive over the forecast period.