Global Off-Highway Vehicle Telematics Market 2020-2030

Global Off-Highway Vehicle Telematics Market 2020-2030

Bonafide Trust 17-08-2022 160 Pages Figures : 78 Tables : 85
Region : Global Category : IT & Telecommunications Technology

Global off-highway vehicle (OHV) telematics market will reach $3,809.6 million by 2030, growing by 11.4% annually over 2020-2030, owing to cost reduction from telematics, technological advancements, rising electrification in automobiles, and the growing government initiatives to improve off-highway vehicles' safety and security. Rise in demand for OHV data analysis, improved productivity and utilization, and reduced operational costs associated with maintenance and repairs are key drivers of the market. These benefits are prompting fleet managers to prefer productivity tools to improve management, which in turn is boosting the off-highway telematics market.

Regulations in developed regions to equip telematics in off-highway vehicles for better tracking of vehicle emissions, fuel emissions, driver hour regulation, and accident detection are driving the off-highway telematics market. In the U.S., commercial vehicles use electronic logging devices (ELD) or electronic onboard recorders (EOBR) to improve road safety. Compliance for ELDs has been increasing since the mandate was first announced in 2014. This has led to an increase in the demand due to their added benefits over standard ELDs, such as vehicle analytics, accident detection, driver behavior monitoring, and fuel consumption analysis. In the European Union, all business vehicles should obey driver hour regulations and have their vehicles fitted with a tachygraphy if these vehicles weigh more than 3,500 kilograms.

Popularity of telematics systems is increasing in heavy-duty on and off-highway equipment markets. Major OEMs are currently integrating telematics systems as standard on their vehicles, which is currently being extended to other range models and equipment categories. Expansion of end-use industries, such as construction, mining and agriculture, especially in developing countries is also estimated to further drive the demand for off-road vehicles and consequently, propel the off-highway vehicle telematics market.

In telematics, several options are available in terms of device type, vehicle class, and asset equipment. Vehicle telematics use locational data and data from other sensors to display information about motor vehicle operation. Some data is based on global navigation satellite systems such as the global positioning system (GPS). Therefore, telematics pricing works with GPS Insight on a per-vehicle or a per-month basis. The per-unit cost correlates to the kind of solution and features client opts for based on his business requirement. Additionally, telematics end-users can opt for other options for a few years and receive most hardware at zero cost with free installation. Therefore, the availability of telematics solutions according to the client’s requirement and budget is likely to fuel the off-highway vehicle telematics market in reaching wide class fleet operators in the next few years.

Growing construction activities in private as well as public sectors are expected to boost the market growth in the near future. There is a number of infrastructure-related projects underway or planned across the globe in countries such as India, Philippines, UAE, Saudi Arabia, Egypt, Nigeria, and the U.S. For instance, in the Union Budget 2014–15, the Government of India allocated a budget of US$ 1.12 billion for the current fiscal year as part of the ‘One Hundred Smart Cities’ project. Moreover, over the following 20 years, the government is expected to invest US$ 650 billion in various urban and infrastructure projects in the country. In the Middle East, various infrastructure projects are under development namely Jeddah Economic City (Saudi Arabia), Masdar City (UAE), and Dubailand (UAE). This rampant development in infrastructure projects is expected to boost the demand for construction equipment, which in turn, is expected to support growth of the market during the forecast period.

Governments across numerous countries are developing stringent policies to ensure safety and security of off-highway vehicles. This includes periodic inspection, timely servicing of brakes, and integration of electronic tools and communication systems in these vehicles. According to the U.S. Department of Labour’s work practice established for operation of heavy equipment, it is obligatory to check engine parts, service brakes and other accessories of heavy equipment such as dump trucks and loaders at the beginning of each shift, in order to ensure safety. Telematics system offers timely updates of engine and drives performance to the fleet operator and also works as a mode of communication. Moreover, installation of telematics in heavy equipment minimizes labor and time required for manual checking of equipment. Therefore, strict government policies are expected to boost the global off-high vehicle (OHV) telematics market growth over the forecast period.

COVID-19 Impact

The recent outbreak of COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations and consequently, hampered the automotive industry. Post first wave of COVID-19 global economies have started opening up automotive manufacturing and supply chain operations. Thus, the COVID impact on the industry have seems to reach a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, uncertainty in the automotive industry continues. A gradual recovery in demand of automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in numerous countries and other geopolitical risks. This uncertain trend also create uncertainty in the OHV telematics market.

Highlighted with 85 tables and 78 figures, this 160-page report “Global Off-Highway Vehicle (OHV) Telematics Market 2020-2030 by Component (Hardware, Platform, Network, Services), Connectivity (Cellular, Satellite), Industry Vertical, Sales Channel (OEM, Aftermarket), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global OHV telematics market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate for 2020 and forecast from 2021 till 2030 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global OHV telematics market in every aspect of the classification from perspectives of Component, Connectivity, Industry Vertical, Sales Channel, and Region.

Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Hardware & Devices
• Telematics Platform
• Telematics Network
• Support & Services

Based on Connectivity, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Cellular Connectivity
o 3G Cellular Network
o 4G Cellular Network
o Other Cellular Networks
• Satellite Connectivity

Based on Industry Vertical, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Construction Industry
o Dump Trucks
o Excavators
o Loaders
o Dozers
o Cranes
o Others
• Agriculture
o Harvesters
o Tractors
o Others
• Mining Industry
o Load-Haul-Dumps (LHDs)
o Loaders
o Roof Bolters
o Rigs
o Conveyors
o Others
• Forestry
• Other Industry Verticals

Based on Sales Channel, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• OEM Sales
• Aftermarket Sales

Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2019-2030. The breakdown of all regional markets by country and split of key national markets by Component, Connectivity, and Industry Vertical over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
CalAmp Corp.
Caterpillar Inc.
Deere & Company
Harman International Industries Inc
Hitachi Construction Machinery
Komatsu Ltd.
Leica Geosystems
MiX Telematics Limited
Omnitracs, LLC
Orbcomm Inc.
Stoneridge, Inc.
Teletrac Navman
Topcon Corporation
Trackunit A/S
Verizon Communication Inc.
Volvo Construction Equipment
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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