Berg Insight, the leading IoT market research provider, has in a new market research project found that the global installed base of active construction equipment (CE) OEM telematics systems reached almost 4.1 million units in 2020.
Growing at a compound annual growth rate (CAGR) of 15.3 percent, the active installed base is forecasted to reach 8.3 million units worldwide in 2025. This includes all CE telematics systems sold by construction equipment OEMs, either developed in-house or provided by the CE manufacturers in partnership with third-party telematics players. The European market accounted for around 0.7 million active construction equipment OEM telematics systems at the end of 2020. The North American market is somewhat larger than the European. The Rest of World moreover represents more than half of the global installed base of CE telematics systems provided by construction equipment OEMs.
Most major construction equipment OEMs have introduced telematics offerings for their customers. OEM telematics systems are today commonly factory-installed as standard at least for heavier machines. Berg Insight ranks Caterpillar and Komatsu as the leading construction equipment OEMs in terms of the number of CE telematics systems deployed worldwide.
Rickard Andersson, Principal Analyst, Berg Insight, said:
“Caterpillar was the first to surpass the milestone of 1 million connected assets.”
He adds that Caterpillar and Komatsu are also by far the leading construction equipment manufacturers in terms of market share.
“The remaining top-5 construction equipment OEM telematics players are SANY, Volvo Construction Equipment and JCB”, continued Mr. Andersson. Hitachi Construction Machinery and Deere & Company also have installed bases in the hundreds of thousands.
Other notable OEMs offering CE telematics solutions include Bobcat (Doosan), Doosan Infracore (Hyundai), Liebherr, Terex, Hyundai Construction Equipment, CNH Industrial, JLG Industries and Tadano.
“All of these players have installed bases in the tens of thousands of telematics units deployed on various types of construction equipment, either independently or in collaboration with telematics partners”, concluded Mr. Andersson.
via https://www.AiUpNow.com
December 17, 2021 at 10:05AM by IoT.Business.News, Khareem Sudlow
