Market Size – USD 110.5 Million in 2019, Market Growth – CAGR of 12.6%, Market Trends – The rise in the adoption of telematics by leasing machinery firms.
The latest industry intelligence report on the Off-Highway Vehicle Telematics market performs a cautious examination of the current business environment and competitive landscape of the Off-Highway Vehicle Telematics market for the forecast period, 2020 – 2027. For stakeholders, field marketing executives and product owners planning to maintain a competitive edge the market assessment report brings to light essential impression about the growth rate, share and size of the industry during the estimated period. Deep dive into an array of elements including but not limited to the value proposition, product positioning, and targeting and industry segmentation have been described through resources such as charts, tables, and info graphics.
The research methodologies used for evaluating the Off-Highway Vehicle Telematics market are inventive and also provides enough evidence on the demand and supply status, production capability, import and export, supply chain management and investment feasibility.
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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.
Key participants include Lupin Limited, Trudell Medical Group Ltd., GlaxoSmithKline plc, Cipla Limited, Merck & Co., Inc, Clement Clarke International Ltd, PARI GmbH, AstraZeneca plc/AB, Fisons plc, and Allergan plc among others.
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Knowing the trends influencing the industry performance
Stakeholders, marketing executives and business owners planning to refer a market research report can use this study to design their offerings and understand how competitors attract their potential customers and manage their supply and distribution channels. When tracking the trends researchers have made a conscious effort to analyze and interpret the consumer behaviour. Besides, the research helps product owners to understand the changes in culture, target market as well as brands so they can draw the attention of the potential customers more effectively.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
Technology Outlook (Revenue, USD Million; 2017-2027)
Sales Channel Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
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