Telematics in Heavy Equipment Market
Telematics in Heavy Equipment Market (End Use - Agriculture, Construction, and Mining; Technology - Cellular and Satellite) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025
Press Release :
Global Telematics in Heavy Equipment Market: Snapshot
Growing usage of mobile devices, advancements in wireless communication technologies and increasing adoption of telematics in construction industry are some of the fundamental factors that are expected to boost the global telematics in heavy equipment market during the forecast period.
Number of prominent telematics solution providers are based in the developed countries, however, they are having operations from developing countries as well. In 2016, North America region held highest market share for telematics in heavy equipment market followed by Asia Pacific. Telematics solution providers in North America are focusing on offering various advanced technology solutions to the consumers. The U.S. held highest market share in 2016 for North America and is estimated to grow at significant CAGR during the forecast period owing to the growing investments by heavy equipment companies in telematics technology.
In North America, due to the rapid advancements in connectivity technologies such as advancements of 5G network, enhanced GPS function and satellite communication in telematics, the region is expected to rise at significant growth rate. Multiple telematics providers and fleet management companies from Europe are offering advanced telematics solutions. As per estimates, the U.K. contributed highest share to total Europe telematics in heavy equipment market in 2016 owing to the significant number of smartphone users and rapid technology innovations in construction industry.
Global telematics in heavy equipment market is expected to grow at CAGR of 11.5% during the forecast period from 2017 to 2025. According to estimates, construction segment held the highest market share in 2016 and expected to grow at significant CAGR during the forecast period.
Construction Industry to Remain Key Contributor of Revenue
In terms of application, the report segments the global telematics in heavy equipment market into construction, agriculture, and mining. Of these, the construction industry is presently the leading revenue contributor to the overall market. The penetration of telematics in construction segment is increasing significantly as number of OEMs are implementing telematics solutions in heavy equipment. Construction is one of the sectors with the highest safety risks for workers. Hence, number of heavy duty equipment companies are implementing telematics in construction equipment to avoid any accidents on construction sites. Due to increasing need for drivers’ and workers’ safety and environment protection, the penetration of telematics in construction industry has increased thereby boosting the global telematics in heavy equipment market.
Asia Pacific to Provide Promising Growth Opportunities
Major countries in Asia pacific are growing rapidly in terms of GDP. The substantial adoption rate of telematics in heavy equipment with different advanced wireless connectivity options such as M2M connectivity, 3G and 4G network, GPS and Bluetooth across countries namely China, India and Japan in the region is expected to drive the Asia Pacific telematics in heavy equipment market. Heavy equipment manufacturers and telematics service providers are collaborating with each other to provide integrated solutions to the end-users.
India is estimated to grow at significant CAGR among the countries in Asia Pacific region during the forecast period owing to the growing adoption of Advanced Driver Assistance System (ADAS) sensors and mobile devices. Construction segment is expected to hold highest market share in China in Asia Pacific in 2025. In Middle East and Africa region, GCC countries held highest market share in 2016 followed by South Africa owing to the infrastructure development and increasing advancements in wireless communication technologies.
Cellular technology segment is projected to grow at significant CAGR in Middle East and Africa over the forecast period due to increasing usage of smartphones and advancements in technology. In South America, Brazil is expected to grow at highest CAGR among other countries during forecast period due to ongoing technological advancements and launch of new innovative telematics solutions by number of players.
The key players in the global telematics in heavy equipment market include Trimble Inc., Telogis, Heavy Construction Systems Specialists Inc., ORBCOMM Inc., Geotab Inc., Zonar Systems Inc., Teletrac, Navman Group, ACTIA Group, LoJack Corporation, The Morey Corporation, TelliQ AB, Topcon Corporation, GPS TRACKIT, LHP Telematics, LLC, and DPL Telematics.
Global Telematics in Heavy Equipment Market: Overview
The report provides analysis of the telematics in heavy equipment market for the period 2015–2025, wherein the years from 2017 to 2025 is the forecast period and 2016 is considered as the base year. Data for 2015 has been included as historical information. The report covers all the trends and technologies playing a major role in the telematics in heavy equipment market growth over the forecast period. It highlights the drivers, restraints and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa and South America. Report highlights the key trends affecting the market on a global scale. Furthermore, region wise prominent countries/regions covered in the report include - The U.S, Canada, Germany, France, the U.K., India, China, Japan, GCC, South Africa, Brazil and Argentina.
Global Telematics in Heavy Equipment Market: Scope of the Report
The market overview section of the report demonstrates the market dynamics such as the drivers, restraints, opportunities, trends that is expected to influence the current nature and future status of this market. Key indicators mentioned in the report, provide a robust view about the vital factors that led to the strong adoption of telematics in heavy equipment around the globe. The key indicators also provide significance of the factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period. An attractiveness analysis has also been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario of telematics in heavy equipment market. Moreover, the report provides an overview of various strategies adopted by the key players present in the market in company profile section. The report also includes key industry developments covering significant advances made by leading market players over the period of time.
Global Telematics in Heavy Equipment Market: Segmentation
The report segments the market on the basis of end-use application, technology and region. The end-use application segment includes agriculture, construction, and mining. Technology segment includes two segments which are cellular and satellite.
The report also highlights the competitive landscape of the global telematics in heavy equipment market, thereby positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the telematics in heavy equipment market. The comprehensive telematics in heavy equipment market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting telematics in heavy equipment market growth.
This report provides all the essential information required to understand the key developments in telematics in heavy equipment market, growth trend of each segment and strategy of each company that helps them to efficiently compete in the market. Also, the report provides insights related to trends and its impact on the market. Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the telematics in heavy equipment market.
Trimble Inc., Telogis, Heavy Construction Systems Specialists Inc., ORBCOMM Inc., Geotab Inc., Zonar Systems Inc., Teletrac, Navman Group, ACTIA Group, LoJack Corporation, The Morey Corporation, TelliQ AB, Topcon Corporation, GPS TRACKIT, LHP Telematics, LLC, DPL Telematics are some of the major players operating within the telematics in heavy equipment market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
The global telematics in heavy equipment market is segmented as below: