Global Off-Highway Vehicle Telematics Market Size By End-User, By Technology, By Geographic Scope And Forecast

Report ID: 293223|No. of Pages: 202

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Global Off-Highway Vehicle Telematics Market Size By End-User, By Technology, By Geographic Scope And Forecast

Report ID: 293223|Published Date: May 2024|No. of Pages: 202|Base Year for Estimate: 2023|Format:   Report available in PDF formatReport available in Excel Format

Off-Highway Vehicle Telematics Market Size And Forecast

Off-Highway Vehicle Telematics Market size was valued at USD 796.61 Million in 2023 and is projected to reach USD 1,183.63 Million by 2030, growing at a CAGR of 5.04% from 2024 to 2030.

Off-Highway Vehicle Telematics Market is estimated to grow at a CAGR of 5.04% & reach US$ 1,183.63 Mn by the end of 2030

Global Off Highway Vehicle Telematics Market Drivers

The market drivers for the Off Highway Vehicle Telematics Market can be influenced by various factors. These may include:

  •  Efficiency and Productivity Improvement: By optimizing off-highway vehicle performance and usage, telematics solutions boost operational efficiency and productivity. Fleet managers can make data-driven decisions to increase efficiency by keeping an eye on real-time fuel usage, engine performance, equipment utilization, and general vehicle health.
  • Cost Reduction: Fleet operators can save a lot of money by implementing telematics solutions to improve asset management, schedule predictive maintenance, and optimize routes. Businesses may limit fuel consumption, eliminate downtime from maintenance issues, and extend the life of their assets by keeping an eye on how their equipment is used and performing.
  •  Regulatory Compliance: The use of telematics in off-highway vehicles is being pushed by strict government laws pertaining to safety, emissions, and operating standards. Through the monitoring of engine emissions, vehicle speed, operator behavior, and adherence to safety rules, telematics systems can assist in ensuring regulatory compliance.
  •  Improved Safety and Security: Fleet managers may follow the location of off-highway vehicles in real-time, keep an eye on operator conduct, and get notifications in the event of an accident or unauthorized use thanks to telematics technology. This lowers the possibility of equipment misuse or theft while also improving operator safety.
  •  Increasing Need for Precision Agriculture: Telematics-enabled precision farming methods are becoming more and more popular in the agriculture industry. These technologies provide precise monitoring and control of agricultural machinery, which helps farmers maximize crop productivity, decrease input costs, and minimize environmental effect.
  • Technological Advancements: Off-highway vehicle telematics systems are becoming more capable and functional thanks to advancements in telematics technology, including the integration of IoT sensors, GPS tracking, wireless connection, and data analytics. Fleet operators are adopting these more modern and sophisticated systems in order to manage their assets more efficiently.
  •  Integrating Sustainability: Industry is adopting greener and more sustainable methods as a result of environmental concerns and the need to cut carbon emissions. Telematics solutions may limit environmental effect, maximize vehicle performance, and save fuel consumption—all of which are in line with the off-highway vehicle operations’ increased emphasis on sustainability.
  •  Asset Leasing and Rental Services Rise: The need for telematics solutions is being driven by the expanding trend of equipment rental and leasing services in sectors like mining and construction. Telematics technology is used by rental organizations to monitor the use and state of their assets, maximize fleet utilization, and guarantee prompt maintenance, all of which improve customer happiness and increase rental income.

Global Off Highway Vehicle Telematics Market Restraints

Several factors can act as restraints or challenges for the Off Highway Vehicle Telematics Market. These may include:

  •  substantial Initial Investment: The hardware, software, and integration costs associated with telematics system implementation in off-highway vehicles are substantial. For some organizations, particularly smaller ones or those with tighter finances, this expense may be a turnoff.
  •  Complex Integration Process: It might be difficult to integrate telematics devices into off-highway vehicles that are already in use. Software engineering and vehicle mechanics knowledge are needed for this process. Delays in implementation and increased expenses may result from this complexity.
  • Data Security Issues: A lot of information regarding the location, functionality, and performance of vehicles is gathered by telematics systems. Adoption may be hampered by worries about data security and privacy, especially in sectors where sensitive or proprietary data is involved.
  •  Resistance to Change: Certain businesses could be reluctant to implement new technology, particularly if they have long been accustomed to utilizing conventional techniques and have doubts about the advantages of telematics.
  • Regulatory Obstacles: Off-highway vehicle telematics providers may face difficulties complying with rules pertaining to data privacy, vehicle safety standards, and emissions laws, particularly if doing so necessitates making considerable changes to their current systems.
  •  Limited Connectivity: Off-highway vehicles frequently work in isolated or difficult-to-reach locations with few access points. This may have an impact on telematics systems’ dependability and efficiency, particularly when it comes to real-time communication and monitoring.
  •  Maintenance and Support Costs: To guarantee correct data and proper operation, telematics systems need constant maintenance and support. Some businesses may be put off by these extra expenses, especially those with limited resources or those in sectors with narrow profit margins.

Global Off-Highway Vehicle Telematics Market: Segmentation Analysis

The Global Off-Highway Vehicle Telematics Market is Segmented on the basis of End-User, Technology, and Geography.

Off Highway Vehicle Telematics Market Segments Analysis

Off-Highway Vehicle Telematics Market, By End-User

  • Construction
  • Agriculture
  • Mining
  • Forestry
  • Others

Based on End-User, the market is segmented into Construction, Agriculture, Mining, Forestry, and Others. The construction segment held the largest market share in 2022. Off-highway vehicle telematics allows construction companies to monitor the real-time location and status of their equipment. GPS and satellite communication technology enable precise tracking, even in distant or difficult terrains. This tracking provides various benefits: Construction sites are vulnerable to equipment theft. Telematics systems offer real-time warnings and geofencing features, enabling businesses to detect and respond to theft. Monitoring equipment position and usage allows construction organizations to deploy resources more efficiently, eliminate idle time, and guarantee that equipment is in the right place at the right time. Telematics data can be utilized to schedule preventative maintenance based on real usage and performance data, resulting in decreased downtime and costs.

Off-Highway Vehicle Telematics Market, By Technology

  • Cellular
  • Satellite

Based on Technology, the market is segmented into Cellular and Satellite. The cellular segment held the largest market share in 2022. Cellular-based off-highway vehicle telematics uses cellular networks to track, monitor, and manage off-road vehicles such as construction equipment, agricultural machinery, and mining vehicles. This technology is based on mobile network coverage and delivers real-time data transmission, making it ideal for locations with strong cellular access. Cellular telematics has significant advantages over its satellite-based counterpart and is used in a variety of industries.

Off-Highway Vehicle Telematics Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

On the basis of Regional Analysis, the Global Off-Highway Vehicle Telematics Market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Based on the geography, North America accounted for the largest market share in 2022. The North American off-highway vehicle telematics industry has grown significantly in recent years, owing mostly to the increased acceptance of telematics solutions across a variety of sectors. North America has one of the greatest markets in the world, and it is likely to grow even further. Construction, agriculture, mining, and forestry are the primary industries driving the rise of off-highway vehicle telematics in North America. These industries are seeing an increase in telematics usage as businesses grasp the value of data-driven insights and operational efficiency.

Key Players

The major players in the Highway Vehicle Telematics Market are:

  • ORBCOMM
  • Stoneridge
  • Teletrac Navman
  • Tom Tom International BV
  • Trackunit A/S
  • Wacker Neuson
  • Zonar Systems Inc.
  • TTCONTROL GMBH
  • ACTIA Group
  • Caterpillar Inc.
  • John Deere
  • Komatsu Ltd.
  • Volvo Construction Equipment
  • JCB
  • Trimble Inc.
  • Topcon Positioning Systems
  • Hitachi Construction Machinery Co. Ltd.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

Omnitracs, ORBCOMM, Stoneridge, Teletrac Navman, Tom Tom International BV, Trackunit A/S, Wacker Neuson, Zonar Systems Inc.

SEGMENTS COVERED
  • By End-User
  • By Technology
  • By Geography
CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope.

Research Methodology of Verified Market Research:

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post sales analyst support

Customization of the Report

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Frequently Asked Questions

Off-Highway Vehicle Telematics Market size was valued at USD 796.61 Million in 2023 and is projected to reach USD 1,183.63 Million by 2030, growing at a CAGR of 5.04% from 2024 to 2030.

Off-Highway Vehicle (OHV) telematics is a rapidly evolving technology that is becoming increasingly significant in a wide range of industries, including construction, agriculture, mining, and transportation.

The major players are Omnitracs, ORBCOMM, Stoneridge, Teletrac Navman, Tom Tom International BV, Trackunit A/S, Wacker Neuson, Zonar Systems Inc.

The Global Off-Highway Vehicle Telematics Market is Segmented on the basis of End-User, Technology, and Geography.

The sample report for the Off-Highway Vehicle Telematics Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.

1 INTRODUCTION OF GLOBAL OFF-HIGHWAY VEHICLE TELEMATICS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources

4 GLOBAL OFF-HIGHWAY VEHICLE TELEMATICS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 GLOBAL OFF-HIGHWAY VEHICLE TELEMATICS MARKET, BY END-USER
5.1 Overview
5.2 Construction
5.3 Agriculture
5.4 Mining
5.5 Forestry
5.6 Others

6 GLOBAL OFF-HIGHWAY VEHICLE TELEMATICS MARKET, BY TECHNOLOGY
6.1 Overview
6.2 Cellular
6.3 Satellite

7 GLOBAL OFF-HIGHWAY VEHICLE TELEMATICS MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Latin America
7.5.1 Brazil
7.5.2 Argentina
7.5.3 Rest of Latin America
7.6 Middle East and Africa
7.6.1 UAE
7.6.2 Saudi Arabia
7.6.3 South Africa
7.6.4 Rest of MEA

8 GLOBAL OFF-HIGHWAY VEHICLE TELEMATICS MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies

9 COMPANY PROFILES

9.1 Omnitracs
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments

9.2 ORBCOMM
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments

9.3 Stoneridge
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments

9.4 Teletrac Navman
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments

9.5 Tom Tom International BV
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments

9.6 Trackunit A/S
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments

9.7 Wacker Neuson
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments

9.8 Zonar Systems Inc.
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments

9.9 TTCONTROL GMBH
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments

9.10 ACTIA Group
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments

9.11 Caterpillar Inc.
9.11.1 Overview
9.11.2 Financial Performance
9.11.3 Product Outlook
9.11.4 Key Developments

9.12 John Deere
9.12.1 Overview
9.12.2 Financial Performance
9.12.3 Product Outlook
9.12.4 Key Developments

9.13 Komatsu Ltd.
9.13.1 Overview
9.13.2 Financial Performance
9.13.3 Product Outlook
9.13.4 Key Developments

9.14 Volvo Construction Equipment
9.14.1 Overview
9.14.2 Financial Performance
9.14.3 Product Outlook
9.14.4 Key Developments

9.15 JCB
9.15.1 Overview
9.15.2 Financial Performance
9.15.3 Product Outlook
9.15.4 Key Developments

9.16 Trimble Inc.
9.16.1 Overview
9.16.2 Financial Performance
9.16.3 Product Outlook
9.16.4 Key Developments

9.17 Topcon Positioning Systems
9.17.1 Overview
9.17.2 Financial Performance
9.17.3 Product Outlook
9.17.4 Key Developments

9.18 Hitachi Construction Machinery Co., Ltd.
9.18.1 Overview
9.18.2 Financial Performance
9.18.3 Product Outlook
9.18.4 Key Developments

9.19 Leica Geosystems AG
9.19.1 Overview
9.19.2 Financial Performance
9.19.3 Product Outlook
9.19.4 Key Developments

10 KEY DEVELOPMENTS
10.1 Product Launches/Developments
10.2 Mergers and Acquisitions
10.3 Business Expansions
10.4 Partnerships and Collaborations

11 Appendix
11.1 Related Research

Report Research Methodology

Research methodology

Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.

This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.

We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:

Exploratory data mining

Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.

All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.

expert data mining

For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.

Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.

Data Collection Matrix

PerspectivePrimary ResearchSecondary Research
Supplier side
  • Fabricators
  • Technology purveyors and wholesalers
  • Competitor company’s business reports and newsletters
  • Government publications and websites
  • Independent investigations
  • Economic and demographic specifics
Demand side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customer

Econometrics and data visualization model

data visualiztion model

Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.

All the research models are customized to the prerequisites shared by the global clients.

The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.

Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.

Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.

Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:

  • Market drivers and restraints, along with their current and expected impact
  • Raw material scenario and supply v/s price trends
  • Regulatory scenario and expected developments
  • Current capacity and expected capacity additions up to 2027

We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.

Primary validation

The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.

The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.

primary validation

Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:

  • Established market players
  • Raw data suppliers
  • Network participants such as distributors
  • End consumers

The aims of doing primary research are:

  • Verifying the collected data in terms of accuracy and reliability.
  • To understand the ongoing market trends and to foresee the future market growth patterns.

Industry Analysis Matrix

Qualitative analysisQuantitative analysis
  • Global industry landscape and trends
  • Market momentum and key issues
  • Technology landscape
  • Market’s emerging opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2027
  • Market revenue estimates and forecasts up to 2027, by technology
  • Market revenue estimates and forecasts up to 2027, by application
  • Market revenue estimates and forecasts up to 2027, by type
  • Market revenue estimates and forecasts up to 2027, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Off-Highway Vehicle Telematics Market

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