The global Off-Highway Vehicle Telematics Market is forecasted to be worth USD 269.2 Million by 2027,
according to a current analysis by Emergen Research. Due to the rising
government initiatives to increase the safety and protection of off-highway
vehicles, the off-highway vehicle telematics market is expected to grow
exponentially. Besides, rising construction activity in both the public and
private sectors is likely to accelerate market growth in the forecast timeframe.
Key Highlights From The
Report
In January 2019,
Bridgestone Corporation announced that its division, Bridgestone Europe NV /
SA, has entered a contract with TomTom Telematics to acquire its digital fleet
solutions services business. Through this deal, Bridgestone adds essential
elements to its Tires and diverse Products as a Solution strategy that
describes the changing corporate environment of the organization and its clients
and society's ongoing commitment to quality advancement.
Over the forecasted
period, the cellular segment is anticipated to dominate the market with a CAGR
of 13.0%. With the development of 4G networks' accessibility, smartphones using
cellular networks to send and receive data are increasing in prominence and
performance.
The aftermarket
segment is expected to sustain stable market growth since it provides total
ownership costs, pilot testing, streamlined integration, atheist branding.
Over the forecast timeline,
the construction industry accounts for the largest market. This technology
provides organizations with intelligence gathering-level details of how the
vehicles and installations operate and how they are used, allowing them to
identify and take steps anywhere they exist to correct shortfalls in vehicle
operations.
Over the forecasted
period, North America is expected to hold the largest market. The rapid
expansion of the construction industry in this region is anticipated to boost
the market for this technology, especially in countries such as the United
States, Canada, and Mexico. Besides, the growing number of transportation
companies is expected to further propel the market growth.
Key participants
include Zonar Systems, Inc., Omnitracs LLC, MiX Telematics Limited, Harman
International Industries Inc., TomTom International BV, Orbcomm Inc., Wacker
Neuson SE, Bridgestone Europe NV/SA, Topcon Corporation, and Stoneridge, Inc.
among others.
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Off-Highway Vehicle Telematics Market Technology
Outlook (Revenue, USD Million; 2017-2027)
Satellite
Cellular
Off-Highway Vehicle Telematics Market Sales
Channel Outlook (Revenue, USD Million; 2017-2027)
Aftermarket
OEM
Off-Highway Vehicle Telematics Market End-User
Outlook (Revenue, USD Million; 2017-2027)
Agriculture
Construction
Mining
Others
Off-Highway Vehicle Telematics Market Regional
Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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