OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET ANALYSIS - PowerPoint PPT Presentation

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OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET ANALYSIS

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The “Global Off-Highway Vehicle (OHV) Telematics Market”, By End-use Application (Construction, Agriculture and Mining) by Technology (Cellular and Satellite), by Sales Channel (OEM and Aftermarket), and by Region (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 311.4 Million by 2027, witnessing a CAGR of 10.1 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights. – PowerPoint PPT presentation

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Title: OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET ANALYSIS


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com
  • OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET
    ANALYSIS

2
Market Overview
  • Telematics is the technology of receiving,
    sending, and storing information through the use
    of telecommunication devices. Telematics is
    typically used in road transport, electric
    engineering, road safety, and computer science.
    Telematics involves different technologies
    including global navigation satellite systems,
    integrated telecommunications and informatics,
    and the use of road vehicles with telematics.
    Practical applications of telematics include
    vehicle tracking, container tracking, trailer
    tracking, fleet management, telematics standards,
    car-sharing, emergency warning for cars, auto
    insurance, etc. Furthermore, off-highway vehicle
    (OVH) telematics refers to the integrated use of
    information and communication with
    telecommunications technology. OVH telematics
    finds applications in various sectors including
    agriculture, mining, constructions, etc.
  • The global off-highway Vehicle (OHV) telematics
    market is estimated to account for US 116.3 Mn
    in terms of value in 2019 and is expected to grow
    at a CAGR of 13.3 during the forecasted period
    2019-27.

3
Market Dynamics- Drivers
  • Gradual growth of construction industry after
    global economic recession is expected to drive
    growth of the global off-highway vehicle (OHV)
    telematics market during the forecast period
  • Growing construction activities in private as
    well as public sectors are expected to boost the
    market growth in the near future. There is a
    number of infrastructure-related projects
    underway or planned across the globe in countries
    such as India, Philippines, UAE, Saudi Arabia,
    Egypt, Nigeria, and the U.S. For instance, in the
    Union Budget 201415, the Government of India
    allocated a budget of US 1.12 billion for the
    current fiscal year as part of the One Hundred
    Smart Cities project. Moreover, over the
    following 20 years, the government is expected to
    invest US 650 billion in various urban and
    infrastructure projects in the country. In the
    Middle East, various infrastructure projects are
    under development namely Jeddah Economic City
    (Saudi Arabia), Masdar City (UAE), and Dubailand
    (UAE). This rampant development in infrastructure
    projects is expected to boost the demand for
    construction equipment, which in turn, is
    expected to support growth of the market during
    the forecast period.
  • Presence of regulatory policies to increase
    security and safety of off-highway vehicles is
    expected to propel the global off-high vehicle
    (OHV) telematics market growth over the forecast
    period
  • Governments across numerous countries are
    developing stringent policies to ensure safety
    and security of off-highway vehicles. This
    includes periodic inspection, timely servicing of
    brakes, and integration of electronic tools and
    communication systems in these vehicles.
    According to the U.S. Department of Labors work
    practice established for operation of heavy
    equipment, it is obligatory to check engine
    parts, service brakes and other accessories of
    heavy equipment such as dump trucks and loaders
    at the beginning of each shift, in order to
    ensure safety. Telematics system offers timely
    updates of engine and drives performance to the
    fleet operator and also works as a mode of
    communication. Moreover, installation of
    telematics in heavy equipment minimizes labor and
    time required for manual checking of equipment.

4
  • North America region dominated the global
    off-highway Vehicle (OHV) telematics market in
    2019, accounting for 63.7 share in terms of
    value, followed by Europe and Asia Pacific,
    respectively.

5
Market Dynamics- Restraints
  • Growing reluctance of end users to change
    business practices is expected to restrain growth
    of the global off-high vehicle (OHV) telematics
    market during the forecast period
  • Telematics systems facilitate real-time
    monitoring of off-highway vehicles and also
    drivers. Majority of fleet operators and drivers
    operating off-highway vehicles consider this to
    be an intrusion of privacy and are reluctant to
    install telematics systems in their fleets.
    Telematics systems collect and transmit
    information such as real-time tracking, vehicle
    diagnostics, changes in speed and harsh driving
    practice, among others. However, car rental
    companies are reluctant to provide such data of
    their fleet with third-party telematics solution
    providers. Moreover, growing uncertainty among
    fleet operators rewarding legal connotations
    related to installation of trackers is expected
    to hamper the global off-high vehicle (OHV)
    telematics market growth in the near future.
  • Lack of training for the use in heavy equipment
    is expected to hinder the global off-high vehicle
    (OHV) telematics market growth over the forecast
    period
  • Slow adoption and lack of awareness among fleet
    owners for adoption of telematics systems are
    expected to reduce exposure of heavy equipment
    operators and OHV drivers to advanced telematics
    systems. However, educational training programs
    will facilitate them to understand benefits
    system and its effective use. Hence, these
    factors are expected to restrain the market
    growth in the near future.

6
Market Opportunities
  • Significant market potential in emerging
    economies such as India and China
  • Although China and India are the largest
    market for off-highway equipment, the penetration
    of telematics is low in these countries as
    compared to North America and Europe. Increasing
    awareness regarding significance of telematics
    systems in OHV and rapid development in these
    countries is expected to provide major growth
    opportunities in the near future. Moreover,
    numerous manufacturers are launching OHV equipped
    with telematics systems, in order to capitalize
    on the lucrative market in the region. For
    instance, in 2015, JCB launched JCB Livelink, a
    telematics system that allows users to remotely
    track equipment, in the India market.
  • Rising integration of Internet of Things (IoT)
    can provide major business opportunities
  • IoT has evolved through union of
    micro-electromechanical systems, internet, and
    wireless technologies. With IoT, fleet owners can
    remotely monitor the vehicle speed, tire air
    pressure, fuel consumption, and driver behavior,
    which in turn, can be used to improve efficiency
    of the vehicle and the driver. Telematics systems
    developers can integrate this technology to
    develop telematics solutions as per specific
    requirements in mining, agriculture and
    construction industries, where operational cost
    is significant. Moreover, it can be used to
    deliver specific telematics solutions to specific
    requirements of mining, agriculture, and
    construction industries sectors.

7
  • In global off-highway Vehicle (OHV) telematics
    market, by technology segment cellular
    sub-segment dominated the global off-highway
    Vehicle (OHV) telematics market in 2019,
    accounting for 73.3 share in terms of value,
    followed by satellite sub segment.

8
Market Trends
  • Rising partnership and collaboration activities
    among OEMs and telematics providers
  • Major OEMs are focused on collaborating with
    telematics solution providers, in order to offer
    enhanced services and strengthen the market
    presence. For instance, Major OEMs such as JCB,
    Komatsu, John Deere, and Caterpillar collaborated
    with telematics companies such as Microlise,
    ORBCOMM, and Trimble to offer one-stop hardware
    and service solution for end users. Moreover,
    OEMs are focused on introducing off-highway
    vehicles equipped with telematics systems, in
    order to reduce the role of telematics system
    providers in the aftermarket.
  • Growing adoption of telematics by equipment
    rental companies
  • Equipment rental companies play a crucial role in
    mining, construction, and oil gas sectors
    across the globe. Telematics provides enhanced
    safety and security with lost-cost of ownership,
    performance monitoring of fleet, and precise
    billing of future or historic job. These factors
    are encouraging equipment rental companies to
    adopt telematics in the near future.

9
Value Chain Analysis
10
Competitive Section
  • Key players operating in the global off-high
    vehicle (OHV) telematics market are 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, and MiX Telematics Limited.

11
Key Developments
  • Key companies in the market are focused on
    mergers and acquisitions, in order to enhance the
    market presence. For instance, in April 2019,
    Bridgestone Europe NV/SA, a subsidiary of
    Bridgestone Corporation, acquired TomTom
    Telematics, a subsidiary of TomTom International
    BV for US 1 billion.
  • Major players in the market are involved in
    product launches, in order to gain a competitive
    edge in the market. For instance, in April 2019,
    Harman International Industries Inc., a
    subsidiary of Samsung Electronics, introduced
    5G-ready Telecommunication Control Unit (TCU)

12
  • Request Sample Report https//www.coherentmarket
    insights.com/insight/request-sample/3700
  • Request Customization https//www.coherentmarketi
    nsights.com/insight/request-customization/3700
  • Download PDF Brochure https//www.coherentmarketi
    nsights.com/insight/request-pdf/3700
  • Talk to Analyst https//www.coherentmarketinsight
    s.com/insight/talk-to-analyst/3700
  • Reference
  • https//www.coherentmarketinsights.com/marke
    t-insight/off-highway-vehicle-telematics-market-37
    00

13
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

14
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

15
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