Emphasis on Solution (Asset Tracking, Fuel Management, Fleet Performance Reporting, Fleet Maintenance, Fleet Safety, and Others); and Industry (Construction, Agriculture, and Mining); Technology (Satellite and Cellular); Vehicle Category (New Fleet and Existing Fleet); and Region/Country
The Construction & Heavy Equipment Telematics Market was valued at USD 0.7 billion in 2021 & is expected to grow at a CAGR of 16.0% from 2022-2030. Owing to the increasing demand for safety and efficiency in construction and heavy equipment operations. The use of telematics in these operations can improve safety by identifying potential hazards and enabling real-time monitoring of equipment usage while optimizing efficiency by reducing downtime and improving productivity.
The adoption of IoT and cloud-based technologies is also contributing to the growth of the market. These technologies enable real-time data collection and analysis, which can help operators make data-driven decisions to improve safety, efficiency, and productivity. Furthermore, cloud-based platforms provide scalability and cost-effectiveness, which are important considerations for companies operating in the construction and heavy equipment industry. For instance, In 2022, Manitowoc expanded its support services by introducing GROVE and POTAIN CONNECT, a new digital platform that has been launched. This platform allows owners and operators to monitor their cranes remotely through an app, providing real-time information, the ability to receive alerts, exchange data, and more. The platform will continue to grow with additional features in the future.
Some of the major players operating in the market are Verizon, Trimble Inc, TOPCON CORPORATION, Hexagon AB, Robert Bosch GmbH, Bridgestone Mobility Solutions B.V., Sierra Wireless., ORBCOMM, CalAmp Corp., ACTIA Group. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst vehicle category, the new fleet segment held a significant growth in the market in 2021.”
Based on vehicle type, the market is bifurcated into new fleet and existing fleet. Amongst these, the new fleet segment held significant growth in the market in 2021. The construction and heavy equipment industry is constantly evolving, and there is a growing demand for new and more efficient equipment that is equipped with advanced technologies. Telematics systems are becoming increasingly important for managing and optimizing these new assets. Moreover, The construction and heavy equipment industry is increasingly adopting connected and autonomous heavy equipment.
“Amongst technology, the satellite held a significant growth in the market in 2021.”
By technology, the market is bifurcated into satellite and cellular. Among these, the satellite held significant growth in the market construction & heavy equipment telematics market in 2021. The dominant growth of the satellite can be attributed to a reliable connection in remote and hard-to-reach areas, which is important for the construction and heavy equipment industry. In areas where cellular coverage is limited or non-existent, satellite networks can provide a backup connection for heavy equipment and other assets. Additionally, Satellite networks are regulated, which provides a level of security and reliability for companies that use them to connect their assets.
“Asia Pacific region held significant growth in construction & heavy equipment telematics market in 2021.”
Increasing urbanization is driving the demand for construction and heavy equipment, which is in turn boosting the growth of the telematics market in the Asia Pacific region. Rapid urbanization has led to increased construction activities, and this has resulted in higher demand for heavy equipment. The governments in the region are implementing policies and initiatives to promote the adoption of telematics in the construction and heavy equipment industry. Improved connectivity is another factor contributing to the growth of the telematics market in the Asia Pacific region. The region has seen significant improvements in mobile and internet connectivity, which has enabled the deployment of telematics systems. The increased connectivity has enabled real-time monitoring and tracking of heavy equipment, leading to better fleet visibility and increased efficiency.
Construction & Heavy Equipment Telematics Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Construction & Heavy Equipment Telematics Market Covid-19 Impact
6. Global Construction & Heavy Equipment Telematics Market Revenue, 2020-2030f
7. Market Insights By Solution
8. Market Insights By Industry
9. Market Insights By Technology
10. Market Insights By Vehicle Category
11. Market Insights By Region
12. Construction & Heavy Equipment Telematics Market Dynamics
13. Construction & Heavy Equipment Telematics Market Opportunities
14. Construction & Heavy Equipment Telematics Market Trends
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Pricing Analysis
18. Strategic Insights
19. Competitive Scenario
20. Company Profiled
21. Disclaimer
Research Methodology for the Construction & Heavy Equipment Telematics Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global construction & heavy equipment telematics market were the three major steps undertaken to create and analyze the adoption of construction & heavy equipment telematics in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global construction & heavy equipment telematics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the construction & heavy equipment telematics market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the construction & heavy equipment telematics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as solution, technology, industry and vehicle type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the construction & heavy equipment telematics market. Further, we conducted factor analysis using dependent and independent variables such as product, technology, and end-users of the construction & heavy equipment telematics market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the construction & heavy equipment telematics market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global construction & heavy equipment telematics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global construction & heavy equipment telematics market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global construction & heavy equipment telematics market.
The main objective of the Global Construction & Heavy Equipment Telematics Market Study
The current & future market trends of the global construction & heavy equipment telematics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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