Construction Equipment Telematics Market Scope
Construction equipment telematics is widely used for tracking and monitoring vehicles and assets used in the construction and mining industry. Unscheduled downtimes or failures of equipment are a huge concern for construction companies. More and more companies are installing telematics systems to the used equipment especially in the mixed fleets like dozers, excavators, backhoes, etc. to monitor and get the condition of equipment will create significant opportunities for the market. Further, the solution providers are integrating advanced technologies such as AI and ML into construction telematics and launching mobile apps. Telematics systems are mostly installed on smaller fleets or tools to keep track as it has prone to theft will accelerate the market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | ORBCOMM (United States), Sharemac (Germany), Rosenberger Telematics (Germany), Trimble (United States), Teletrac Navman (United States), LoJack Corporation (United States), DPL Telematics (United States), TelliQ AB (Sweden), Verizon (United States), Geotab (Canada), Omnitracs (United States), Topcon Positioning Systems, Inc. (United States), Bosch Rexroth AG (Germany) and Bridgestone (Japan) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Construction Equipment Telematics market throughout the predicted period.
ORBCOMM (United States), Sharemac (Germany), Rosenberger Telematics (Germany), Trimble (United States), Teletrac Navman (United States), LoJack Corporation (United States), DPL Telematics (United States), TelliQ AB (Sweden), Verizon (United States), Geotab (Canada), Omnitracs (United States), Topcon Positioning Systems, Inc. (United States), Bosch Rexroth AG (Germany) and Bridgestone (Japan) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Construction Equipment Telematics market by Type (Unpowered Equipment Telematics, Powered Equipment Telematics and Heavy Equipment Telematics), by Application (Location Tracking/Monitoring, Driver/Operator Performance, Idling, Asset Allocation, Fuel Usage Tracking and Others) and Region with country level break-up.
On the basis of geography, the market of Construction Equipment Telematics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In 2020, Omnitracs announced the acquisition of SmartDrive which offers video-based safety and transportation intelligence. By combining SmartDrive’s technology, Omnitracs will be able to deliver a converged solution built on advanced technologies – AI and ML that redefines the future of commercial transportation.
In September 2021, ZTR and Trackunit combined their resources to accelerate innovation and digital transformation to meet the growing demand for telematics systems in the construction industry. By combining with Trackunit, ZTR will be able to operate on a global scale to provide its offering to OEMs, rental companies, and contractors.
Market Trend
- Evolution of 5G Network Technology and Emerging Trend of GPS Technology Among the End-Users for Telematics System
- Increased Focus on the Implementation of Technological Advancements like Artificial Intelligence for On-Road Construction Fleets
Market Drivers
- Growing Popularity of Heavy Equipment Telematics in the Construction Industry for Monitoring and Improve Operations
- Robust Growth of Construction Industry Around the World Due to Increasing Industrialization and Urbanization
Opportunities
- High Growth of Heavy Equipment Telematics in North American Countries Especially in the United States
Restraints
- High Cost and Data Inaccuracy Issues Due to Mismanagement of Telematics Technology
Challenges
- Presence of a Large Number of Players in the Global Market Can Create Challenges
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Construction Equipment Telematics Solution Providers, Venture Capitalists and Private Equity Firms, End-Users and Others