Dublin, March 22, 2022 (GLOBE NEWSWIRE) -- The "Off-Highway Vehicle Telematics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Connectivity Type, Application, and Technology" report has been added to ResearchAndMarkets.com's offering.
The global off-highway vehicle telematics market was valued at US$ 754.44 million in 2020 and is expected to reach US$ 1,166.96 million by 2028; it is estimated to register a CAGR of 5.9% during the forecast period.
The off-highway vehicle telematics market covers a wide range of equipment utilized in the construction, mining, agriculture, and forestry industries, including specialist heavy machinery, lighter gear, and other vehicles. Telematics hardware and software solutions for remote monitoring and management of fleets of machinery and equipment used in these industries are called off-highway vehicle telematics. By using off-highway vehicle (OHV) telematics devices that allow GPS, cellular, or satellite connectivity for access to real-time equipment data, off-highway vehicle telematics solutions offer continuous monitoring of the position, condition, health, and utilization of equipment.
Increasing demand for OHV data analysis due to higher productivity, effective utilization and lower operational costs connected with maintenance and repairs, is supporting the off-highway telematics market growth. In addition, as fleet managers prefer productivity solutions for better management, which would in turn, support the growing demand for off-highway telematics in fleet management system.
Furthermore, the off-highway vehicle telematics market is being driven by regulations in developed regions to equip off-highway vehicles with telematics for improved tracking of vehicle emissions, fuel emissions, driver hour regulation, and accident detection. Commercial trucks utilize electronic logging devices (ELDs) or electronic onboard recorders (EOBRs) to increase road safety in the US. ELD compliance has risen steadily since the mandate was initially announced in 2014. The additional features of typical ELDs include vehicle analytics, accident detection, driver behavior monitoring, and fuel consumption analysis.
In the European Union, all commercial vehicles must adhere to driver hour limits and have tachygraphy installed if they weigh more than 3,500 kilos. Telematics solutions are becoming more popular in the heavy-duty on- and off-highway equipment industry. Major automakers are now including telematics systems as standard equipment on their vehicles, and this trend is spreading to additional models and equipment categories. The expansion of end-use sectors like construction, mining, and agriculture, particularly in emerging countries, is expected to boost the demand for off-road vehicles and ultimately fuel the growth of the off-highway vehicle telematics market.
Impact of COVID-19 Pandemic on Off-Highway Vehicle Telematics Market
COVID-19 pandemic has significantly affected the world and continues to shatter several countries. Until the COVID-19 pandemic, the automotive industry was experiencing substantial growth in production, sales, and technological advancements. The COVID-19 pandemic has resulted in regional lockdowns, line closures, and the disintegration of transportation organizations. Furthermore, the financial vulnerability of the off-highway vehicle telematics market due to the pandemic is much higher than it was in previous outbreaks, such as severe acute respiratory syndrome (SARS), avian influenza, pig influenza, bird influenza, and Ebola.
Due to the rapidly rising cases, the market is being influenced from various angles. The labor force's availability is reportedly disrupting the global market's inventory network, as the lockdown and the virus spread are forcing people to stay indoors. When the manufacturing process is halted, the retail network comes to a halt, negatively impacting the off-highway vehicle telematics manufacturers as both are linked.
The key companies operating in the off-highway vehicle telematics market include Omnitracs, LLC; ORBCOMM; Stoneridge, Inc.; Teletrac Navman; TomTom International BV; Trackunit A/S; Wacker Neuson, Zonar Systems Inc.; TTCONTROL GMBH; and ACTIA Group.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global off-highway vehicle telematics market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global off-highway vehicle telematics market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Off-Highway Vehicle Telematics Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Off-Highway Vehicle Telematics Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth in Construction Industry
5.1.2 Government Policies to Increase Security and Safety of Off-Highway Vehicles
5.2 Market Restraints
5.2.1 Growing Uncertainty Among Fleet Operators
5.3 Market Opportunities
5.3.1 Rising Integration of IoT
5.4 Future Trends
5.4.1 Technological Advancements in Off-Highway Vehicle Telematics
5.5 Impact Analysis of Drivers and Restraints
6. Off-Highway Vehicle Telematics - Global Market Analysis
6.1 Global Off-Highway Vehicle Telematics Market Overview
6.2 Global Off-Highway Vehicle Telematics Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Off-Highway Vehicle Telematics Market Analysis - By Connectivity Type
7.1 Overview
7.2 Off-Highway Vehicle Telematics Market, By Connectivity Type (2020 And 2028)
7.3 Cellular-Based OHV telematics
7.3.1 Overview
7.3.2 Cellular-Based OHV telematics: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
7.4 Satellite-Based OHV telematics
7.4.1 Overview
7.4.2 Satellite-Based OHV telematics: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
8. Global Off-Highway Vehicle Telematics Market Analysis - By Application
8.1 Overview
8.2 Off-Highway Vehicle Telematics Market, By Application (2020 And 2028)
8.3 Construction Industry OHV telematics
8.3.1 Overview
8.3.2 Construction Industry OHV telematics: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
8.4 Agriculture Industry OHV telematics
8.4.1 Overview
8.4.2 Agriculture Industry OHV telematics: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
8.5 Mining Industry OHV telematics
8.5.1 Overview
8.5.2 Mining Industry OHV telematics: Off-Highway Vehicle Telematics Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Off-Highway Vehicle Telematics Market - Revenue and Forecast to 2028 (US$ Million)
9. Global Off-Highway Vehicle Telematics Market Analysis - By Technology
9.1 Overview
9.2 Off-Highway Vehicle Telematics Market, By Technology (2020 and 2028)
9.3 LTE-M
9.3.1 Overview
9.3.2 LTE-M: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
9.4 NB-IOT
9.4.1 Overview
9.4.2 NB-IoT: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
9.5 SIGFOX
9.5.1 Overview
9.5.2 Sigfox: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Off-Highway Vehicle Telematics Market Revenue and Forecast To 2028 (US$ Million)
10. Off-Highway Vehicle Telematics Market - Geographic Analysis
11. Off-Highway Vehicle Telematics Market - Covid-19 Impact Analysis
11.1 Overview
11.2 North America: Impact Assessment of Covid-19 Pandemic
11.3 Europe: Impact Assessment of Covid-19 Pandemic
11.4 Asia Pacific: Impact Assessment of Covid-19 Pandemic
11.5 Middle East & Africa: Impact Assessment of Covid-19 Pandemic
11.6 South America Impact Assessment of Covid-19 Pandemic
12. Off-Highway Vehicle Telematics Market-Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 New Development
13. Company Profiles
13.1 Wacker Neuson SE
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Stoneridge , Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 TTControl GmbH
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Omnitracs, LLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 ORBCOMM Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Trackunit A/S
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 TomTom Telematics BV
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Zonar Systems Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Teletrac Navman
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 ACTIA Group
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/5jlh8g
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