Published on : Mar 22, 2018
Albany, New York, March 22, 2018: Presently, the penetration of telematics in construction segment is growing significantly as the number of OEMs is implementing telematics solutions in heavy equipment. Recently, a study titled “Telematics in Heavy Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025” has been broadcasted to the vast archive of Market Research Hub (MRH), which presents major insights, analysis, and valuable guidance on the prospects of global telematics in heavy equipment market. The report also includes imperative factors propelling the market expansion, untapped opportunities for key market participants, and trends & developments molding the market dynamics.
According to the research findings, global telematics in heavy equipment market is predicted to grow at an impressive CAGR of 11.5% during the forecast period from 2017 to 2025. Also, the opportunities in this market are expected to rise to a valuation of US$1,743.8 mn by 2025.
Telematics makes the car safer, keeps directed person from getting lost, summons roadside assistance at the press of a button. Construction is one of the sectors with the highest safety risks for workers. Hence, the number of heavy-duty equipment companies are implementing telematics in construction equipment to avoid any accidents on construction sites. Due to growing need for drivers and workers’ safety and environment protection, the penetration of telematics in the construction industry has increased thereby boosting the global telematics in heavy equipment market.
Geographical Expansion & Other Factors Fueling Market Growth
The report further also adds that increasing use of mobile devices, advancements in wireless communication technologies are some of the fundamental factors that are expected to boost the global telematics in heavy equipment market during the period of forecast 2017-2025.
Geographically, the global telematics in heavy equipment market is segmented into North America, Latin America, Europe, Japan, the Middle East and Africa (MEA), and Asia Pacific. Amongst, Asia Pacific is estimated to provide promising opportunities to the market, owing to the growing adoption of Advanced Driver Assistance System (ADAS) sensors and mobile device in some countries. In North America, rapid advancements in connectivity technologies such as advancements of 5G network, enhanced GPS function and satellite communication in telematics, is expected to rise at significant growth rate.
Further, the market has been segmented on the basis of end-use application and technology. By technology, it covers cellular and satellite. Based on end-use, the study includes agriculture, construction, and mining.
The report thus provides major insights into the global telematics in heavy equipment market in terms of its competitive landscape and regulatory framework. This section profiles the leading players operating in this market, which are Trimble Inc., The Morey Corporation, Zonar Systems Inc., Telogis, GPS TRACKIT, Heavy Construction Systems Specialists Inc., ACTIA Group, ORBCOMM Inc., Topcon Corporation, Geotab Inc., TelliQ AB, Teletrac, Navman Group, LoJack Corporation, LHP Telematics, LLC, DPL Telematics.
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