Global Telematics in Heavy Equipment Market was valued US$ XX Bn. in 2019 and is expected to reach US$ XX Bn. by 2027, at a CAGR of 11.50 % during a forecast period.
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(The report study has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same id reflected in our analysis).
Each segment along the equipment industry’s supply chain (from equipment manufacturers, to dealers, distributors, rental providers, and service contractors) are standing to gain financial growth by being part of the promising technology evolution. An introduction of the Internet of Things (IoT), equipment telematics, and always-connected devices are expected to transform telematics industry.
Global Telematics in Heavy Equipment Market, Dynamics:
Telematics is playing a vital role in reducing dangers to operators and workers in the workplace. Engineering improvements are not completely preventing user mistakes, where as telematics can help minimize potential dangers and damage from operator error. The technology advancement like wireless technology, GPS technology and telematics are expected to drive the market growth. The end-use industries like agriculture, construction and mining are shifting towards the telematics solution to increase the operational efficiency are also expected to propel the market growth. Furthermore, low adoption of the telematics solution is expected to limit the market growth.
Global Telematics in Heavy Equipment Market, Segment Analysis:
Cellular technology is expected to grow at a XX% rate of CAGR during the forecast period. The cellular technology is contributing more than 80% share in the global telematics in heavy equipment market. The demand for cellular network is increasing because of rise in network capabilities of 3G, 4G and LTE network. In addition, an introduction of the 5G network infrastructure and rise in activities by the telecom key players to commercial 5G is expected to drive the market growth.
Telematics deployments are becoming cost-effective and the entire service workflow is becoming connected. The telematics solution offers real-time information. The construction sector is expected to contribute more than 60% share global telematics in heavy equipment market. An integration of telematics into the machinery and tools for fleet management is boosting the market growth. The rise in need from the construction sector to reduce the cost of operation and enhance operational efficiency is expected to increase the demand for telematics solution. Currently, the construction industry is starting to incorporate data standards. One standard is the Association of Equipment Management Professionals (AEMP). A standard protocol is recently adopted, which is used for fault code and other information to share in a standard way.
Global Telematics in Heavy Equipment Market, Regional Analysis:
The Asia Pacific region is expected to grow at a XX% rate of CAGR during the forecast period. The growth in the market is attributed to the rapid industrialization and urbanization across the region. An increase in the investment by the construction equipment and machinery manufacturers in the telematics is expected to boost the market growth. Additionally, the advancement in wireless communication technologies is expected to increase the demand for telematics solutions in heavy equipment. A trend of automation of IoT is expected to propel the regional growth.
Global Telematics in Heavy Equipment Market, Competitive Analysis:
Th global telematics in heavy equipment market is becoming more competitive because of the presence of the number of key players and the rapid pace of technological advancement in the field of telematics. Telematics solution providers are concentrating on deployment of solutions with integrated wireless connectivity and simple to use interfaces to acquire a larger consumer base. A new entrance key players are entering in the global telematics in heavy equipment market with the innovative technological advancements to form their robust footprint in the global market.
The objective of the report is to present a comprehensive analysis of the Global Telematics in Heavy Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Telematics in Heavy Equipment Market dynamics, structure by analyzing the market segments and projects the Global Telematics in Heavy Equipment Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Telematics in Heavy Equipment Market make the report investor’s guide.
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Global Telematics in Heavy Equipment Market, By Technology
Global Telematics in Heavy Equipment Market, By End-Use Industry
Global Telematics in Heavy Equipment Market, By Region
• North America
• Asia Pacific
• Middle East Africa
• South America
Key players operating in Global Telematics in Heavy Equipment Market
• ACTIA Group
• LoJack Corporation
• The Morey Corporation
• TelliQ AB
• Topcon Corporation
• GPS TRACKIT
• LHP Telematics, LLC
• DPL Telematics
• Trimble Inc.
• Heavy Construction Systems Specialists Inc.
• ORBCOMM Inc.
• Geotab Inc.
• Zonar Systems Inc.
• Teletrac Navman Group
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