Construction Machinery Telematics Market worth $6.60 billion by 2030

The Global Construction Machinery Telematics Market to grow from USD 2.11 billion in 2022 to USD 6.60 billion by 2030, at a CAGR of 15.32%.

PUNE, MAHARASHTRA, INDIA, November 10, 2023 /EINPresswire.com/ — The “Construction Machinery Telematics Market by Machinery Type (Backhoes, Crane, Excavator), Solution (Asset Tracking, Diagnostics & Maintenance, Fleet Management), Component, Sales Channel – Global Forecast 2023-2030″ report has been added to 360iResearch.com’s offering.

The Global Construction Machinery Telematics Market to grow from USD 2.11 billion in 2022 to USD 6.60 billion by 2030, at a CAGR of 15.32%.

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Construction telematics refers to using telecommunication and information technologies in the construction industry to enhance construction site efficiency, productivity, and safety. Construction machinery telematics provides real-time access to machines by tracking engine hours, providing mileage report alerts, and monitoring fuel consumption. Construction equipment telematics permits construction firms to track equipment’s location and performance, allowing them to monitor construction equipment utilization and ensure that assets are used efficiently. The increasing number of construction activities worldwide is elevating the usage of construction machinery telematics, which includes the usage of GPS tracking and mapping, real-time communication, and data analysis to manage and optimize various aspects of the construction process. Increasing investment in the construction of smart residential and commercial buildings by private and public organizations is expected to expand the usage of construction machine telematics. However, the high cost of construction equipment telematics is impeding the market’s growth. The increasing integration of advanced technologies in construction equipment telematics by market vendors and innovators is expected to fuel the growth of construction machinery telematics.

Machinery Type: Increasing usage of excavators in construction machinery telematics to monitor engine performance

Construction telematics helps monitor backhoes’ performance and usage, including tracking fuel consumption, engine hours, and maintenance schedules. Telematics in cranes provide real-time information on the location, movement, and usage of cranes and monitor critical factors such as wind speed and load weight. Excavators with telematics help track excavation work, soil conditions and monitor engine performance and fuel consumption. Loaders with telematics help optimize loading and hauling operations by tracking machine location and utilization and monitoring fuel consumption and maintenance needs. Telematics in telescopic handlers monitors the usage and performance of telescopic handlers, including tracking load weights, heights, and reach.

Component: Expanding usage of hardware components in construction machinery telematics for vehicle monitoring

The construction machinery telematics consists of hardware including a telematics control unit or a telematics gateway unit, GPS receiver, engine interface, expander port, SIM card, accelerometer, buzzer to simplify vehicle monitoring and management, and remote car diagnosis. The construction machinery telematics software is the data-driven solution to construction site management and fundamentally changes the operations of job sites. Construction telematics software monitors fuel usage, driver behavior, asset location, and engine hours and predicts maintenance schedules to provide real-time cost analysis.

Solution: Rising preference for asset tracking solutions among the construction industry to monitor their equipments

Asset tracking solutions are essential for construction companies to monitor and manage equipment usage, location, and overall performance. These solutions offer real-time data on the position of machinery, enabling effective utilization and theft prevention. Diagnostics and maintenance tools provide insights into machinery health, helping businesses minimize repair costs and reduce downtime. These solutions analyze performance data to identify potential issues early and can optimize maintenance schedules accordingly. Fleet management solutions help construction companies optimize equipment usage, minimize fuel consumption, and improve operational efficiency. These tools can monitor machinery data in real-time, allowing for better decision-making and informed dispatching. Safety and compliance solutions ensure construction projects adhere to industry regulations and maintain safe working environments. These systems can monitor operator behavior, manage certifications, and provide real-time alerts for potential safety hazards. While all four solution segments offer valuable tools for construction businesses, their need-based preferences depend on companies’ specific requirements. Asset tracking and diagnostics & maintenance solutions are crucial for managing equipment costs and reducing downtime efficiently, while fleet management tools prioritize operational efficiency and resource allocation. Lastly, safety & compliance solutions focus on maintaining safe working environments and adhering to industry regulations.

Sales Channel: Growing demand for original equipment manufacturers (OEMs) in in construction machinery telematics

The construction equipment telematics solutions are integrated into the new construction fleets by original equipment manufacturers (OEMs) to provide benefits, including vehicle tracking, equipment management, and improved maintenance. The aftermarket sales channels include integrating construction equipment telematics solutions to enhance the efficiency and safety of construction vehicles and equipment which are previously purchased.

Regional Insights:

The construction machinery telematics market in Europe, the Middle East, the African region, and American economies are rapidly developing owing to high construction expenditures and supportive government initiatives to digitalize the construction sector. The recent investments by the government through the Digital Europe Programme, Horizon Europe, and InvestEU to finance projects related to innovation of digitalization of the construction industry are expected to scale up the use of construction machinery telematics in Europe. Moreover, the massive expenditures on the construction sector in emerging Asian economies promote the demand for construction machinery telematics. Several projects initiated in the region, including the Bharatmala highway project and Smart City project in India, the Summer Olympics 2020 in Japan, and China’s One Belt One Road initiative, encouraged the adoption of construction machinery telematics to enhance diagnostics and maintenance of construction fleets. The ongoing research and development (R&D) for innovation of product portfolios and massive adoption of digital technologies in the construction sector are expected to bolster the demand for the construction machinery telematics market in the Americas in the coming years.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Construction Machinery Telematics Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Construction Machinery Telematics Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Construction Machinery Telematics Market, highlighting leading vendors and their innovative profiles. These include ABAX Group AS, Bosch Rexroth AG, Caterpillar Inc., Cellutrak Canada Inc., Deere & Company, EquipmentShare.com Inc., Fleet Intelligence by Foresight Intelligence, Inc., Geotab Inc., Hexagon AB, Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., Infineon Technologies AG, Inseego Corp., J C Bamford Excavators Ltd., JLG Industries Inc., Komatsu Ltd., Kubota Corporation, MachineMax, Mahindra Group, Mix Telematics Limited, Motive Technologies, Inc., Orbcomm Inc., Rosenberger Telematics GmbH, Samsara Inc., Teletrac Navman US Ltd., Tenna LLC, Topcon Corporation, Trackunit Corporation, Trimble Inc., Verizon Communications Inc., and Volvo Group.

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Market Segmentation & Coverage:

This research report categorizes the Construction Machinery Telematics Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Machinery Type, market is studied across Backhoes, Crane, Excavator, Loaders, and Telescopic Handling. The Excavator commanded largest market share of 19.55% in 2022, followed by Loaders.

Based on Solution, market is studied across Asset Tracking, Diagnostics & Maintenance, Fleet Management, and Safety & Compliance. The Asset Tracking commanded largest market share of 25.32% in 2022, followed by Fleet Management.

Based on Component, market is studied across Hardware and Software. The Hardware commanded largest market share of 64.13% in 2022, followed by Software.

Based on Sales Channel, market is studied across Aftermarket and OEM. The OEM commanded largest market share of 72.88% in 2022, followed by Aftermarket.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 36.76% in 2022, followed by Americas.

Key Topics Covered:

1. Preface

2. Research Methodology

3. Executive Summary

4. Market Overview

5. Market Insights

6. Construction Machinery Telematics Market, by Machinery Type

7. Construction Machinery Telematics Market, by Solution

8. Construction Machinery Telematics Market, by Component

9. Construction Machinery Telematics Market, by Sales Channel

10. Americas Construction Machinery Telematics Market

11. Asia-Pacific Construction Machinery Telematics Market

12. Europe, Middle East & Africa Construction Machinery Telematics Market

13. Competitive Landscape

14. Competitive Portfolio

15. Appendix

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Construction Machinery Telematics Market?

2. Which are the products/segments/applications/areas to invest in over the forecast period in the Construction Machinery Telematics Market?

3. What is the competitive strategic window for opportunities in the Construction Machinery Telematics Market?

4. What are the technology trends and regulatory frameworks in the Construction Machinery Telematics Market?

5. What is the market share of the leading vendors in the Construction Machinery Telematics Market?

6. What modes and strategic moves are considered suitable for entering the Construction Machinery Telematics Market?

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Mr. Ketan Rohom
360iResearch
+1 530-264-8485
[email protected]