Connected Excavators Market

Connected Excavators Market: Introduction

• Connected services can play a vital role in tracking management, distance traveled, tasks completed as well as vehicle status of construction equipment. Expansion of the construction equipment industry is estimated to enable the adoption of connected vehicle services, which would be able to track the fuel availability, achievable range, and operator health in case of emergency.

Key Drivers of Connected Excavators Market

• Data and knowledge are the driving factors for any business currently. Getting instant data is very important for better planning and timely delivery of orders. Hourly productivity of machinery is a crucial factor in enhancing efficiency of construction equipment.
• Excavators can be tracked on the basis of hourly work done, the area excavated as well as any other parameters. Remote access is also an important aspect of monitoring these machinery, as several times, they are operated at hazardous locations. Therefore, excavators are operated remotely in order to keep the operator safe. These are also used to ensure accuracy and precision at a location where the operator can get better visibility.

Opportunities of Connected Excavators Market

• Initially, only GPS data was a key aspect, which is not enough for current requirements of the industry. Vehicle health status, speed, real-time fuel consumption, fuel on board as well as features such as load characteristics are equally important when it comes to new requirements.
• This also provides an opportunity to track driving characteristics of the driver and determine if the driver is well-rested during the route. This would also help determine if the driver was drowsy or driving under the influence. This could be a major breakthrough in the smart system for connected excavators.
• These systems would also help reduce unauthorized use of vehicles; track maintenance schedules as well as warn the system for early signs of vehicle parts fatigue and help avoid sudden breakdowns of vehicles; increase reliability of vehicles, and reduce the overall cost incurred due to vehicle breakdowns.
• This would also reduce accidents that are caused due to improper placement of the dumper or improper placement of an excavator.

Challenges of Connected Services for Connected Excavators Market

• Impressive systems are likely to be developed in the near future, which would be able to deliver all the data to the vehicle operators. These systems, however, would cost a fortune due to requirement of new hardware as well as upgrades to the current fleet of vehicles in terms of key electronics.
• The construction industry is already considered as cost intensive and high investment is required to setup a business. These would not only drive up the equipment cost but also the operation cost as most services would be subscription based, which in turn would increase the recurring costs.
• The supporting hardware would be play a vital role in proper operation of the overall system. This is especially a challenge in developing countries where vehicles are not as advanced as in most developed countries, where it is mandatory to have sophisticated onboard diagnostics systems.
• Currently, the impact of the COVID-19 pandemic on the semi-conductor supply is also likely to heavily impact and increase the cost of the equipment

Regional Outlook of Global Connected Excavators Market

• Countries in the Asia Pacific are mostly developing, and the construction vehicles used in these countries are very basic and do not have highly advanced technological options onboard. These countries are witnessing extensive upgrade in technology due to new safety norms set by governments.
• On the other hand, countries in Europe and North America would be able to easily adopt these technologies, as they have sophisticated vehicles and would not require major upgrades to integrate such systems.

Key Players Operating in Global Connected Excavators Market

• Caterpillar Inc.
• Deere & Co.
• Hitachi Ltd.
• KUBOTA Corporation
• CNH Industrial N.V.
• Volvo Construction Equipment and Services Inc.
• Doosan Bobcat Inc.
• Yanmar Co., Ltd.
• JCB Inc.
• Nagano Industry Co., Ltd.
• Komatsu Ltd.
• Xuzhou Construction Machinery Group (XCMG)
• Sany Heavy Industries
• Zoomlion
• Nissan Motor Co., Ltd.
• Hyundai Construction Equipment Co., Ltd

Connected Excavators Market, by Product

• Mini/Compact
• Crawler
• Wheeled
• Heavy

Connected Excavators Market, by Information Provided

• GPS Location
• Vehicle Health Status
• Detect early signs of equipment and vehicle fatigue
• Monitors performance based on fuel and/or oil consumption
• Control Idling
• Speeding
• Unauthorized Use
• Maintenance Schedules

Connected Excavators Market, by Use

• Free
• Paid
  • One Time
  • Subscription Based

Connected Excavators Market, by Powertrain

• Electric
• Hydraulic
• Hybrid

Connected Excavators Market, by Power Range

• Up to 300 HP
• 301—500 HP
• 501 HP and Above

Connected Excavators Market, by Application

• Mining
• Construction
• Waste Management
• Others

Connected Excavators Market, by Region

• North America
  • United States
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa