Did you know the electric vehicle industry is valued at around $500.48 billion? The future reality is using EVs for all mobility requirements and providing sustainable options to save our environment from pollution.
Location intelligence helps analyze geographic data to contribute to scalable strategies and efficient growth. In the industry, it has become vital for businesses to transform their infrastructure to deliver smooth customer experiences and support environmental growth.
This specific content piece will highlight the strategic benefits of introducing location intelligence to EV infrastructure development and growth. By exploring the right opportunities in line with market demands, you can scale your business potential hassle-free and feel in control of your growth trajectory.
What Is Location Intelligence For Electric Vehicles?
Location intelligence has become integral to the development of EV infrastructure, from navigating to charging stations to predictive maintenance, performance analysis, route optimization, and emergency services.
- Target ideal locations for EV charging stations for better services.
- Optimize routes by considering charging and battery level availability.
- Improve fleet operations with predictive maintenance and asset monitoring.
- Analyze traffic, foot traffic, and emissions data for urban planning.
- Location intelligence, with its user-centric approach, enhances the user experience through personalized recommendations and suggestions, making the audience feel considered and valued.
The technology-driven approach helps to combine geographic information into real-time infrastructure with advanced analysis.
What Are The Different EV Market Segments For Analysis?
EV manufacturers require investment and assets to handle large data volumes and optimize operations. Here are some segments to perform the analysis:
Vehicles
Depending on the type of vehicle, the market is divided into commercial and passenger vehicles. Passenger vehicles are commonly preferred and hold the maximum market share. These factors help manufacturers make the right choices, increase profits, and better reach the market.
Propulsion
The market has BEVs (Battery Electric Vehicles) and HEVs (Hybrid Electric Vehicles), which have unique properties and usage. BEVs will hold a more significant market share, which is expected to rise. Manufacturers want to build sleek designs, advanced features, and a more extended range delivered in a single charge.
Drive
Electric vehicles support various types of drive, like all-wheel, front-wheel, and rear-wheel drive. However, the market has accounted for most of its share of front-wheel drive, which is expected to grow quickly. Front-wheel drive is affordable compared to the rear-wheel drive or all-wheel drive systems.
Range
The market is divided into 150 miles, 151-300 miles, and 300+ miles, depending on the range. Most EVs fall within the 150- to 300-mile range and help deliver a smooth customer experience. The 150-mile segment has the second-largest market share for commercial vehicles and electric vans.
Component
Everything has a role in the EV infrastructure, whether the battery pack, motor brake, wheel & suspension, low voltage components, or body & chassis components. The battery pack has the largest market share as it has significant costs and is the primary supply in vehicle functioning. The motor has the second largest share of the electric vehicle market, with its integration into electric vehicles and increasing demands due to technological advances.
How Does Location Intelligence Impact EV Infrastructure Development?
Analyzing geographic data to derive profitable strategies for your business during planning, deploying, and optimizing the network is essential. Factors like population density, proximity, and traffic patterns play an important role in the EV infrastructure and gain unique insights with data location data scraping.
Let us look at the sections where location intelligence helps in optimizing the electric vehicle infrastructure:
Charging Station Placement
The strategies required to place EV charging stations are essential to supporting the growth of electric mobility. Location intelligence will help analyze data such as population density, driving behavior, and traffic patterns to select the most demanding areas for the charging infrastructure.
EV charging stations can be located near commercial hubs, residential areas, and busy highways where more EVs are owned. This approach ensures that stations are not at risk of overcrowding or underutilization.
Smart Grid Integration
If you have professionals handling location intelligence, they will help assess the electrical grid’s capacity to support the charging stations. Analysis of energy consumption patterns and grid load can help determine the suitable location and whether additional infrastructure is needed.
This will also ensure that you can integrate it with renewable energy sources by determining locations with the potential for sustainable energy generation. It helps EV dealers ensure the development aligns with their long-term growth goals.
Better Accessibility & Convenience
These experts, with their deep understanding of location intelligence and the EV market, can help businesses map routes and strategically place charging stations to ensure widespread and convenient access for EV users.
EV infrastructure also requires picking the target locations from rural to urban areas to ensure it fosters equitable infrastructure development to ensure widespread EV adoption.
Adequate Capacity Management
With advanced strategies and tools, maximizing the integration of EV infrastructure with existing resources becomes effortless. Gather real-time data on voltage levels, distribution networks, and voltage levels to identify the threats, challenges, and opportunities.
Location intelligence will allow you to manage load dynamically, meet demands, and avoid overloading grids during peak periods.
Future-Ready Infrastructure
As the electric vehicle market grows, it’s crucial to evolve with the increasing demands. Location-specific data helps make profitable decisions that boost EV sales and target new leads at various locations, making your business adapt to future demands. This future-proofing approach helps build robust, scalable EV infrastructure and instills a sense of security and confidence in your business.
Making your business adapt to future demands helps build robust, scalable EV infrastructure and avoid delays, leading to losing customers.
Improve Driver Experience
A key challenge for electric vehicle users is the fear of running out of battery before reaching the charging station. Location intelligence will help map charging stations with common routes and provide real-time updates on availability, operational status, and wait times.
Advanced systems will help predict future congestion at charging stations based on trends, traffic, and historical data, offering ideal solutions for alternative stations.
What Are The Benefits Of Location Intelligence In EV Infrastructure?
Location intelligence delivers excellent advantages for developing and operating the EV infrastructure, improving user experiences, sustainable growth, and thoughtful planning. Let us look at the key benefits:
- Strategic charging stations can be easily installed in high-demand areas. Aligning stations with travel patterns and customers also helps prevent underutilization or overcrowding.
- Optimize the power grid integration with location intelligence to figure out charging stations with sufficient capacity support. Data analysis ensures a balance between energy usage and minimizes grid overloading.
- Pick the locations to combine EV charging stations with renewable resources while reducing fossil fuel dependency and the environmental impact.
- Pinpointing the ideal locations for the EV charging stations reduces trial and error costs. Real-time data analysis can also avoid unnecessary expenses associated with wrong placements.
End Note
Now, you know location intelligence’s insights, benefits, and impact on the EV infrastructure. The EV location intelligence helps with innovative strategies using updated datasets to handle challenges and risks. Some future trends in harnessing location intelligence are:
- Integration of real-time data to build dynamic charging networks.
- Introducing AR (Augmented Reality) navigation specifically for electric vehicles.
- Usage of location intelligence for delivering personalized experience.
At LocationCloud, we use data analysis to help EV dealers achieve seamless coordination and collaboration in their business operations. Our experts integrate location intelligence to reshape transportation’s future, reduce their carbon footprint, and avoid harmful emissions. Regular data analysis allows you to promote a cleaner environment and take steps towards a sustainable future.
