Off-Highway Vehicle (OHV) Telematics Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Technology (Satellite, Cellular); Sales Channel (OEM, Aftermarket), End-User (Agriculture, Construction, Mining, Others), and Region and Country
The global off-highway vehicle (OHV) telematics market is expected to grow at a CAGR of around 12% during the forecast period (2021-2027). Factors that are driving the market share of off-highway vehicle (OHV) telematics such as increasing application of OHV telematics in off highway vehicles, surging adoption of telematics technologies within the automotive industry coupled with burgeoning demand for cellular technology with increasing application within construction and mining industries are positively influencing the market demand for off-highway vehicle telematics. In addition, the automotive industry is tapping into next-generation technologies such as automotive telematics, while assisting the development and performance of machinery. Driven by this, the market is anticipated to witness substantial growth over the forecast period.
The COVID-19 pandemic had vastly impacted different segments of the IoT market. Many hardware installations were postponed as travel came to a standstill and capital expenditure budgets were frozen. At the same time, software tools, especially those that could serve as responses to the pandemic (e.g., IoT-based remote asset monitoring) and those allocated to operational expenditures, saw a smaller negative effect and in some rare cases even a pandemic-led boost. Hence, impacted the market size of off-highway vehicle telematics market.
Different Types of Off-Highway Vehicle (OHV) Telematics Technology, 2020
TomTom International BV, Zonar Systems Inc., Harman International Industries Inc., Bridgestone Europe NV/SA, Trackunit A/S, ORBCOMM Inc., Omnitracs LLC, Topcon Corporation, Navman Wireless, Wacker Neuson SE. 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 Technology, Cellular segment holds the major share”
Based on technology, the off-highway vehicle (OHV) telematics market is segmented into satellite and cellular. Amongst technology, cellular caters considerable market share and expected to dominate in the forecast period as well. It is mainly owing to the increasing prevalence of devices using cellular network to transmit data is escalating its growth.
“Amongst Sales Channel, OEM segment holds the major share”
Based on sales channel, the global off-highway vehicle (OHV) telematics market is classified into aftermarket and OEM. Currently, OEM acquired substantial market share and expected to have influential growth rate in the forecasted period as well. As stringent government policies focusing on the safety and security of off-highway vehicles have propelled, the adoption of telematics among the OEMs.
“Amongst End-User, Construction Segment holds the major share”
Based on end-user, the market is classified into agriculture, construction, mining and others. Construction sector is catering extensive share in the market. Adoption of telematics in the construction segment is higher due to increasing demand for telematics technology from construction equipment rental companies and high competition is positively influencing the market demand.
“North America represents one of the largest markets of Global Off-Highway Vehicle (OHV) Telematics Market”
For a better understanding of the market dynamics of the global Off-Highway Vehicle (OHV) Telematics market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe and Rest of the World. North America constitutes the largest market for the industry owing to the increasing awareness regarding significance of telematics systems in OHV and rapid development in the region is expected to provide major growth opportunities in the near future.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Off-Highway Vehicle (OHV) Telematics Market|
|2.2.||Research Methodology of the Off-Highway Vehicle (OHV) Telematics Market|
|2.5.||Main Objective of the Off-Highway Vehicle (OHV) Telematics Market Study|
|5||GLOBAL OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET COVID-19 IMPACT|
|6||GLOBAL OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET REVENUE (USD BN), 2019-2027F|
|10.1.||North America Off-Highway Vehicle (OHV) Telematics Market|
|10.1.3.||Rest of North America|
|10.2.||Europe Off-Highway Vehicle (OHV) Telematics Market|
|10.2.6.||Rest of Europe|
|10.3.||Asia Pacific Off-Highway Vehicle (OHV) Telematics Market|
|10.3.5.||Rest of Asia Pacific|
|10.4.||Rest of World Off-Highway Vehicle (OHV) Telematics Market|
|12||OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET OPPORTUNITIES|
|13||OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET TRENDS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|15.2.1.||Top Product Launches|
|15.2.2.||Top Business Partnerships|
|15.2.3.||Top Business Expansions, Investments and Divestitures|
|15.2.4.||Top Merger and Acquisitions|
|16||VALUE CHAIN ANALYSIS|
|17.1.1.||Company Shares, By Revenue|
|18.1.||TomTom International BV|
|18.2.||Zonar Systems Inc.|
|18.3.||Harman International Industries Inc.|
|18.4.||Bridgestone Europe NV/SA|
|18.10.||Wacker Neuson SE|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global off-highway vehicle (OHV) telematics market were the three major steps undertaken to create and analyze the adoption of off-highway vehicle (OHV) telematics system 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 off-highway vehicle (OHV) 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 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 off-highway vehicle (OHV) telematics market through company internal sources such as annual report & 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 off-highway vehicle (OHV) 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 included in the report as technology, sales channel and end-user. 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 off-highway vehicle (OHV) telematics market. Further, we conducted factor analysis using dependent and independent variables such as increasing technologies of off-highway vehicle (OHV) telematics and end-user off-highway vehicle (OHV) telematics. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the off-highway vehicle (OHV) 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 off-highway vehicle (OHV) 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., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of off-highway vehicle (OHV) telematics market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global off-highway vehicle (OHV) telematics market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
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, and 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
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global off-highway vehicle (OHV) telematics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology and their sales channel of the global off-highway vehicle (OHV) telematics market.
The main objective of the Global Off-Highway Vehicle (OHV) Telematics Market Study
The current & future market trends of global off-highway vehicle (OHV) telematics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were 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 as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of off-highway vehicle (OHV) telematics market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of technology, sales channel and end-user.
- Define and analysis of the regulatory framework for the off-highway vehicle (OHV) telematics market industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the off-highway vehicle (OHV) telematics market for the major region
- Major regions studied in the report include Asia Pacific, Europe, North America and Rest of the world.
- Company profiles of the off-highway vehicle (OHV) telematics market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry