Global Telematics in Heavy Equipment Market: Snapshot
The competition in the global telematics in heavy equipment market is expected to intensify in the years to come on the back of entry of a host of new players. At present, prominent companies in the market are based out of developed countries, but have worldwide operations. Serving to boost growth in the market is the rising usage of smartphones, availability of high speed data networks, and different types of telematics. Acting as a roadblock to the market is the high cost of research and development.
According to Transparency Market Research, the global telematics in heavy equipment market is expected to rise at a CAGR of 15.1% from 2017 to 2025 to become worth US$6.47 bn by 2025-end.
Rising Number of Accidents Make Vehicle Tracking Key Application Segment
Depending upon application, the key segments of the global telematics heavy equipment market are vehicle tracking, fleet management, satellite navigation, vehicle safety communications, etc. Of them, the vehicle tracking application dominates the market and in the years ahead too will continue to retain its dominant position. This is because of the pressing need to bring down the number of accidents – fatal or not – on account of the increasing number of vehicles plying on the road through monitoring their location, movements, status, and behavior. For the same reason, the application of fleet management is also seeing rising adoption. Satellite navigation is another key application segment in the global telematics heavy equipment market which accounts for a substantial share.
Technology-wise, the global telematics in heavy equipment market is segmented into cellular and satellite. Of them, the cellular segment is anticipated to clock maximum growth as cellular network is available in most places and it is relatively affordable to set up.
Asia Pacific Dominates Market Because of Advanced Wireless Connectivity
Geographically, Asia Pacific leads the market for telematics heavy equipment with maximum share. The region is also expected to clock maximum CAGR of 15.6% during the period from 2017 to 2025. Rising at this solid pace, the market in the region is expected to grow its dominant share in revenue to US$2.26 bn by 2025. This is because of the increased availability of advanced wireless connectivity options such as M2M connectivity, 4G and 5G network, GPS and Bluetooth in countries of China, India, and Japan.
Automobile manufacturers and telematics service providers are collaborating with each other to provide integrated solutions to the end-users. India, among the three countries, is estimated to register maximum growth owing to the rising uptake of advanced driver assistance system (ADAS) sensors and mobile devices.
North America, powered by the U.S., trails Asia Pacific in terms of market size. The region’s market has seen good growth so far on the back of players focusing on providing technologically superior solutions to customers. Besides, swift progress in connectivity technologies, namely 5G network, enhanced GPS function, and satellite communication in telematics is also benefitting the vehicle tracking application, thereby boosting the market. The market is expected to rise at a 15.3% CAGR in the forecast period to become worth US$1.83 bn by 2025.
Some of the key players in the global telematics in heavy equipment market are Trimble Inc., MiX Telematics, Daimler Trucks North America, Zonar Systems, Inc., Telogis, Masternaut Limited, Topcon Corporation, Teletrac Navman Group, Element Fleet Management Corp., DPL Telematics, LHP Telematics, LoJack Corporation, OEM Data Delivery, SmartDrive Systems, Inc., GPS Insight, and GPSTrackIt.
Global Telematics in Heavy Equipment Market: Overview
The Telematics in Heavy Equipment Market (Application- Vehicle Tracking, Fleet Management, Satellite Navigation, Vehicle Safety Communication, Others; Technology- Cellular, Satellite) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025, 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 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 application, technology and region. The application segment includes vehicle tracking, fleet management, satellite navigation, vehicle safety communication and others. Technology segment includes two segments which are cellular and satellite.
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: Competitive Analysis
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., MiX Telematics, Daimler Trucks North America, Zonar Systems, Inc., Telogis, Masternaut Limited, Topcon Corporation, Teletrac Navman Group, PACCAR Inc., Inseego Corp., Element Fleet Management Corp., DPL Telematics, LHP Telematics, LoJack Corporation, OEM Data Delivery, TeMeDa, LLC, SmartDrive Systems, Inc., GPS Insight and GPSTrackIt 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.
Global Telematics in Heavy Equipment Market, by Application
- Vehicle Tracking
- Fleet Management
- Satellite Navigation
- Vehicle Safety Communications
Global Telematics in Heavy Equipment Market, by Technology
Global Telematics in Heavy Equipment Market, by Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America