Telematics Market in Construction Vehicle - Overview

The use of telematics in construction vehicle is continuously increasing in order to achieve higher productivity of the vehicle. Telematics are increasingly being installed in smaller as well as large construction vehicles. The telematics system consists of GPS technology, on board diagnostics, and monitoring sensors, which are connected by cellular network that provides continuous insights on vehicle performance and operation. Telematics covers common points which include GPS location, fuel composition, idle times, and machine alerts in construction vehicles. Therefore, major manufacturers are installing telematics systems, as standard equipment, in order to achieve higher efficiency.

Telematics Market in Construction Vehicle - Drivers and Restraints

Telematics offers several benefits such as asset location, in which telematics data records machine activities on site, it also notifies maintenance and repair schedules by providing data points to vehicle owners. Telematics also measures the performance of the operator and reduces the threat of theft by using GPS technology. Consequently, the telematics market for construction vehicle is likely to expand during the forecast period. Expansion of the construction industry, rising infrastructure investments, increasing investment of private sector in infrastructure, which includes investments in road and airports construction, and expansion of the real-estate sector are key factors that are likely to fuel the demand for construction vehicles during the forecast period.

Telematics Market in Construction Vehicle - Segmentation

The telematics market in construction vehicle can be segmented based on technology type, sales channel, and region. Based on technology type, the telematics market in construction vehicle can be classified into cellular network and satellite. Cellular technology or satellite technology is implemented in construction vehicles according to surrounding conditions, customer preference, and government norms for radio usage. Companies such as Caterpillar and Volvo Construction Equipment provide cellular communication as well as satellite technology for vehicles.

In terms of sales channel, the telematics market in construction vehicle can be divided into OEM and aftermarket. Replacement of GPS systems, data logger, and other equipment after malfunction is included under the aftermarket segment. End-users generally prefer telematics services provided by OEMs, as compared to aftermarket telematics service providers owing to superior quality of the product and easy access for service facility. Major construction vehicle manufacturers such as Volvo, Caterpillar, JCB are started providing component along the their vehicle owing to OEM sub segment is likely to expand during the forecast period.

Based on region, the telematics market in construction vehicle can be bifurcated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Currently, North America dominates the telematics market for commercial vehicle owing to the presence of key players, developed infrastructure, and high rate of adoption of innovative technology in the region. The telematics market in construction vehicle in Asia Pacific is estimated to expand at a significant growth rate during the forecast period. This is primarily due to expansion of the construction industry in the region.

Telematics Market in Construction Vehicle - Key Players

Key players operating in telematics market in construction vehicle include TomTom Telematics BV, HARMAN International, ORBCOMM, Topcon, MiX Telematics, Teletrac Navman US Ltd, Omnitracs, Wacker Neuson SE, Trackunit A/S., and Zonar Systems. Key players operating in the global telematics market in construction vehicle are expected to benefit from the formation of strategic alliances with other global players. These players have strong global presence, firm establishments, and diverse product portfolios.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Telematics In Construction Vehicle Market

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