The global Construction & Heavy Equipment Telematics market gathered revenue around USD 662 Million in 2020 and market is set to grow USD 1,594 Million by the end of 2027 and is estimated to expand at a modest CAGR of 18.6% during the prediction period 2021 to 2027. Increase in demand for telematics solutions in off-highway equipment and government mandates on safety and security of off-highway equipment are the driving factors that are expected to boost the construction and heavy equipment telematics market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Construction & Heavy Equipment Telematics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Construction & Heavy Equipment Telematics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Construction & Heavy Equipment Telematics market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Scope of the Report:
The global Construction & Heavy Equipment Telematics market offers an exhaustive research analysis of the global market's growth prospects. The report's scope includes a global industry overview, a global industry description with comprehensive research analysis, and an Construction & Heavy Equipment Telematics industry summary of various countries and their regions. This research study evaluation of present market revenue, market forecast, and market share investigation of the foremost suppliers of the industry. It also covers the competitive landscape, market size, marker trends, Construction & Heavy Equipment Telematics industry future innovations, and a range of existing market business strategies. Stakeholders will be able to design and align their business plans using current and future market trends.
Challenge:
The data generated from a vehicle is communicated through a wireless medium for further interpretation and analysis to avail valuable information. The entire telematics-based communication involves multiple stages from designing, development, and integration till the implementation phase. The information should reach the destination at the right time with precision. The gathered information is analyzed and used in multiple instances to meet government regulations (safety-related features), maintenance and repairs reports, accident alerts, navigation, and weather. However, increased connectivity of equipment to the external world via the internet exposes the equipment to potential risks. For instance, Trimble’s products may contain undetected errors, product defects, security vulnerabilities or software errors. Computer hackers, foreign governments or cyber-terrorists attempt to or succeed in penetrating network security and website. Unauthorized access to Trimble’s proprietary business information or customer data may be obtained through break-ins, sabotage, breach of a secure network by an unauthorized party, computer viruses, computer denial-of-service attacks, employee theft or misuse, breach of the security of the networks of its third-party providers, and other misconduct. Plenty of generated data needs to be regulated with tighter policies to ensure data security. Off-highway OEMs are expected to play an important role in this regard.
North America is estimated to be the largest market during the forecast period
The North American off-highway industry is one of the promising industries at a global level. The region is home to several OEMs such as Caterpillar and John Deere and telematics solutions providers like Verizon, Trimble, Geotab, and Sierra Wireless. The US is the largest market in the region and accounts for more than 70% of the overall market, followed by Canada and Mexico. The market is dominated by Verizon and Trimble as these companies focus on strategic partnerships or collaborations with leading OEMs. The demand for telematics solutions is expected to increase in the region due to strong penetration of telematics coupled with 5G connectivity, which will support advanced telematics solutions for the off-highway industry.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Construction & Heavy Equipment Telematics Market are:
The Market Players Verizon (US), Trimble Inc. (US), Topcon Corporation (Japan), Hexagon AB (Sweden), and Robert Bosch GmbH (Germany)
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Solution
- Asset tracking
- Fuel management
- Fleet performance reporting
- Navigation
- Diagnostics
- Equipment/fleet maintenance
- Fleet safety
- Others (equipment utilization and geo fencing)
By Industry
- Construction
- Agriculture
- Mining
By Technology
By Form Factor
- Embedded
- Integrated
- Tethered
By Hardware
- Telematics control unit
- Infotainment display unit
By Vehicle Category
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the Construction & Heavy Equipment Telematics market, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2027 to enable stakeholders to capitalize on the prevailing Construction & Heavy Equipment Telematics market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the Construction & Heavy Equipment Telematics market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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