Here’s What You Can Expect on Electric Vehicle Telematics Market Until 2028
Research is carried out on the insulation monitoring device, which is used more for determining insulated resistance of underground systems. These systems are placed among an active phase conductor and the earth.
Electric Vehicle Telematics are meant to offer either an alert or cut off the power supply when the resistance of two conductors drops down a specific set value. There is an increasing adoption rate of these Electric Vehicle Telematics mainly because they allow not only continuous but flawless operations in several important industries. This included healthcare, manufacturing and production and power utilities. There is also increasing awareness of the gains of using Electric Vehicle Telematics As a result, the overall market has hit US$500 million in 2018.
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The Electric Vehicle Telematics market is seeing the integration of smart cables adoption as a leading trend. This allows them to spot the fault location apart from the increasing use of low voltage dc power systems. Aside from these, there is also shifting of industry preference for both secure and smooth functioning.
The report has identified some of the key players of the Electric Vehicle Telematics market. They are Siemens, ABB, DEIF, PPO-Elektroniikka Oy, Littelfuse, DOLD, Viper Innovations, Mitsubishi Electric, Muuntosahko Oy, Wei Dian Union (Hubei) Technology, Martens, Hakel, Schneider Electric, Eaton, Megacon, and Bender. Similarly, there are some key developments happening in the competitive landscape, which is given below:
A multinational power management firm, Eaton, has struck a deal with the American’s Army Engineering and Support Center, Huntsville. This will support Naval Facilities Engineering Command (NAVFAC) Southwest. The company is also lending its helping hand in the Utilities System Division in electrical monitoring, as well as, modernizing control systems at the facility available in San Diego.
On the other hand, a multinational electronics manufacturing firm, Littelfuse, has acquired the circuit protection business from a consumer electronics firm, TE Connectivity. This will help the firm to widen its portfolio to support increasing geographic presence.
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There is a growing penetration of Electric Vehicle Telematics in renewable energy power plants promising market growth. Solar and wind energy plants, which are part of the renewable energy plants, observe regular fluctuations in insulation resistance. This is because of constant alterations in both wind flow and solar radiations. There is an increasing incidence of fluctuations in these plants, and this has pushed to an increased adoption rate of Electric Vehicle Telematics This will help to have a continuous track of insulation resistance. Therefore, renewable energy power plants are adding to the Electric Vehicle Telematics market growth in a significant way.
The events that are unfolding suggest that growth opportunities in Electric Vehicle Telematics market will likely to soar. This belief is based on the growing usage of Electric Vehicle Telematics in data centers. Apart from that, there is also increasing adoption in the healthcare sector besides the increasingly expanding industry 4.0. The report indicated that data centers have complex facilities. Like other organizations, they too depend on information systems to keep monitoring their operations. The insulation systems are deployed because of a lot of reasons. This included equipment failures, human errors, and external power disruptions leading to outages. The Electric Vehicle Telematics help to have a check on operations to avoid losses.
There is an increasing application in the transportation industry providing impetus to growth in Electric Vehicle Telematics market. As a result, the sector could be the fastest growing application as far as the Electric Vehicle Telematics market is concerned in the upcoming years. There is also a growing adoption rate of the Electric Vehicle Telematics in autonomous vehicles, marine, railways, airways, and electric vehicles.
Any error in this type of transport from insulation is termed as critical. Therefore, manufacturers are compelled to adopt Electric Vehicle Telematics This is to ensure that there is a flawless function of diverse transportation systems. Additionally, there are upcoming projects for fast trains in countries like Japan and China. This means that there will be further growth in Electric Vehicle Telematics adoption.
In developed economies, the Electric Vehicle Telematics are witnessing increased adoption rate. This included North America due to the number of presence of oil & gas and manufacturing firms in the region. Significantly, the United States is witnessing a growing integration of automation in several sectors associated with industrial production. As a result, there is a potential to lift the uptake of Electric Vehicle Telematics there. Additionally, there is increasing R&D for innovative and advanced technologies. This is due to the growing demand for better safety to workers. This is possible with the help of Electric Vehicle Telematics used in several industries in North America.
As far as APAC is concerned, there is growing adoption of modern technologies and devices. This is attributed to the several manufacturing firms having their presence in the region. For instance, the power and utility industry has grown significantly in China, India, and Japan in recent years. China remains a lucrative one for growth prospects in the global Electric Vehicle Telematics market since it is a leading power utility country.
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