Press release
Off-Highway Vehicle (OHV) Telematics Industry Projected to Hit USD 2,154.3 Million by 2033, Growing at a 16% CAGR
The off-highway vehicle (OHV) telematics industry is projected to grow from USD 488.3 million in 2023 to USD 2,154.3 million by 2033, with a compound annual growth rate (CAGR) of 16% during this period.
This optimistic forecast is primarily driven by the increasing adoption of telematics solutions across construction, agriculture, and mining sectors. The automotive industry is also leveraging advanced technologies like automotive telematics to enhance machinery efficiency, contributing to significant market growth.
Key factors fueling demand for telematics technologies include the expansion of the automotive sector and the integration of cutting-edge technologies aimed at optimizing equipment performance. The use of big data and modern connectivity solutions in OHVs has grown, alongside a rising need for advanced vehicles in applications such as precision farming.
The combination of telematics advancements and enhanced performance, coupled with reduced labor costs through AI and IoT support, has led to increased sales of OHVs equipped with sophisticated telemetry systems. Additionally, the demand for improved security and protection in OHVs-without compromising on cost or efficiency-has prompted the implementation of smart telematics systems that optimize machinery operations.
Get Ahead with Our Report: Request Your Sample Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-1430
Key Takeaways:
According to FMI's study, the construction segment is projected to account for around 65% of global OHV telematics market sales.
In the last five years, the market recorded a CAGR of 11%.
The market for automated guided vehicles in the United States is expected to develop at a 15% CAGR through 2033, according to FMI.
According to FMI's analysis, Germany is expected to lead Europe's (OHV) telematics market, rising at a healthy 14% CAGR throughout the projection period.
The market's main players control roughly 60% of the market.
Competitive Landscape:
Leading industry participants are emphasizing the extension of their already extensive product portfolios. Moreover, increasing expenditure on research to develop improved products is another key strategy for market players to preserve their market position. Other important objectives include facility expansions and strategic alliances to help meet the increased demand for OHV telematics from a variety of end-use sectors. For example,
July 2022 - Guidepoint Systems, a global provider of car telematics and Software as a Service (SaaS), partnered with Free2move, Stellantis' global fleet, mobility, and linked data firm.
March 2022 - Navistar reaffirmed its commitment to a connected and data-driven future by standardizing a factory-installed telematics solution on the recent Class 6-8 International Truck and IC Bus vehicle ranges.
Key Companies Profiled
Omnitracs, LLC
ORBCOMM
Stoneridge, Inc.
Teletrac Navman
TomTom International BV
Trackunit A/S
Wacker Neuson
Zonar Systems Inc.
TTCONTROL GMBH
ACTIA Group
Detailed Market Study: Full Report and Analysis
https://www.futuremarketinsights.com/reports/ohv-telematics-market
Key Segmentations
By Sales Channel
Original Equipment Manufacturers (OEMs)
Aftermarket
By Technology Type
Cellular
Satellite
By End-Use Application
Construction
Agriculture
Mining
By Region
North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
This optimistic forecast is primarily driven by the increasing adoption of telematics solutions across construction, agriculture, and mining sectors. The automotive industry is also leveraging advanced technologies like automotive telematics to enhance machinery efficiency, contributing to significant market growth.
Key factors fueling demand for telematics technologies include the expansion of the automotive sector and the integration of cutting-edge technologies aimed at optimizing equipment performance. The use of big data and modern connectivity solutions in OHVs has grown, alongside a rising need for advanced vehicles in applications such as precision farming.
The combination of telematics advancements and enhanced performance, coupled with reduced labor costs through AI and IoT support, has led to increased sales of OHVs equipped with sophisticated telemetry systems. Additionally, the demand for improved security and protection in OHVs-without compromising on cost or efficiency-has prompted the implementation of smart telematics systems that optimize machinery operations.
Get Ahead with Our Report: Request Your Sample Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-1430
Key Takeaways:
According to FMI's study, the construction segment is projected to account for around 65% of global OHV telematics market sales.
In the last five years, the market recorded a CAGR of 11%.
The market for automated guided vehicles in the United States is expected to develop at a 15% CAGR through 2033, according to FMI.
According to FMI's analysis, Germany is expected to lead Europe's (OHV) telematics market, rising at a healthy 14% CAGR throughout the projection period.
The market's main players control roughly 60% of the market.
Competitive Landscape:
Leading industry participants are emphasizing the extension of their already extensive product portfolios. Moreover, increasing expenditure on research to develop improved products is another key strategy for market players to preserve their market position. Other important objectives include facility expansions and strategic alliances to help meet the increased demand for OHV telematics from a variety of end-use sectors. For example,
July 2022 - Guidepoint Systems, a global provider of car telematics and Software as a Service (SaaS), partnered with Free2move, Stellantis' global fleet, mobility, and linked data firm.
March 2022 - Navistar reaffirmed its commitment to a connected and data-driven future by standardizing a factory-installed telematics solution on the recent Class 6-8 International Truck and IC Bus vehicle ranges.
Key Companies Profiled
Omnitracs, LLC
ORBCOMM
Stoneridge, Inc.
Teletrac Navman
TomTom International BV
Trackunit A/S
Wacker Neuson
Zonar Systems Inc.
TTCONTROL GMBH
ACTIA Group
Detailed Market Study: Full Report and Analysis
https://www.futuremarketinsights.com/reports/ohv-telematics-market
Key Segmentations
By Sales Channel
Original Equipment Manufacturers (OEMs)
Aftermarket
By Technology Type
Cellular
Satellite
By End-Use Application
Construction
Agriculture
Mining
By Region
North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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