Telematics In Heavy Equipment Market By Technology (Cellular, Satellite), By Application (Agriculture, Construction, Mining) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

The increasing adoption of telematics in construction equipment is driving the growth of telematics in the heavy equipment market.

Globally, the telematics market for heavy equipment is expected to grow with a CAGR of 10.9% during the forecast period from 2019 to 2027. The market is being driven by the widespread adoption of telematics solutions in construction machines and equipment. As the pressure on the construction industry to reduce operating costs and improve efficiency grows, construction organizations are rapidly shifting toward technology solutions to improve operational efficiency. Furthermore, the integration of telematics into the machines enables effective fleet management, which reduces costs and enhances profits.

The rapid advancement in technology, such as wireless technology, GPS technology, and telematics, is also a major factor driving the market growth. However, low adoption is expected to be a major impediment to market growth. It is estimated that only 18%–20% of the construction equipment comes with telematics. The high capital cost of the equipment and long decision-making cycles are the primary reasons companies are reluctant to adopt the new equipment.

Market Synopsis

Satellite Telematics is Estimated to Grow Significantly During the Forecast Period.

The heavy equipment telematics market is divided into two technology segments: cellular and satellite telematics. Cellular telematics accounted for more than 80% of the revenue in 2018. The growth of the market is attributed to the increasing network capabilities of the 3G, 4G, and LTE networks. Furthermore, the advancement in the 5G network infrastructure and increased activities by the telecom companies to commercialize 5G are further accelerating the market's growth. On the other hand, satellite telematics is estimated to grow substantially during the forecast period.

North America is leading the telematics market for heavy equipment.

North America led the global telematics in heavy equipment market in 2018 with a market share of more than 45%. The increasing industrialization and urbanization of the region is the major factor driving the market growth. The increasing investment by construction equipment and machinery manufacturers in telematics is further accelerating the growth of the market. Moreover, rapid technological advancement in the region also fosters market growth.

The major vendors in the telematics market for heavy equipment are DPL Telematics, Trimble Inc., ACTIA Group, Geotab Inc., Heavy Construction Systems Specialists Inc., GPS TRACK, LHP Telematics LLC, Navman Group, LoJack Corporation, ORBCOMM Inc., TelliQ AB, Teletrac, Telogis, Topcon Corporation, The Morey Corporation, and Zonar Systems Inc.

Periods of History and Forecast

This research report presents the analysis of each segment from 2017 to 2027,considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from2019 to 2027.

Report Scope by Segments

The Telematics in Heavy Equipment Market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global telematics in the heavy equipment market based on technology, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the size of the market for telematics in heavy equipment in 2018, and what is the forecast up to 2027?
• Which region has the largest regional market for heavy equipment telematics?
• What are the major trends followed in telematics in the heavy equipment market across different regions?
• Who are the key companies in the telematics market for heavy equipment?
• What are the key strategies adopted by the leading telematics companies in the heavy equipment market?

This report's distinct data points

• Statistics on telematics in heavy equipment and spending worldwide
• Recent trends across different regions in terms of the adoption of telematics in heavy equipment across connectivity
• Notable developments are going on in the industry.
• Attractive investment propositions for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently Asked Question: