Berg Insight estimates that the global installed base of active off-highway vehicle telematics systems reached 5.2 million units in 2020.
This includes connected units deployed on various off-highway vehicles across the construction, mining, agriculture and forestry sectors.
The construction sector accounts for the largest share, driven by OEM telematics systems offered by heavy equipment manufacturers. Agriculture and mining each account for a similar number of connected units deployed on machines and vehicles used in agricultural and mining operations respectively. The remainder is represented by the forestry sector including telematics systems fitted to various forestry equipment.
Growing at a compound annual growth rate (CAGR) of 15.4 percent, the active installed base of off-highway vehicle telematics systems across all sectors is forecasted to reach 10.7 million units worldwide in 2025.
Rickard Andersson, Principal Analyst, Berg Insight, said:
“The top-10 equipment manufacturers offering telematics together account for more than 70 percent of the total number of off-highway vehicle telematics systems in use across the construction, mining, agriculture and forestry sectors globally.”
Berg Insight ranks Caterpillar and Komatsu as the leading off-highway vehicle telematics providers.
“Far from surprising, the leading equipment manufacturers by market share are also by far the top players when it comes to the number of off-highway vehicle telematics subscribers”, said Mr. Andersson.
He adds that this is a natural development in an industry where telematics has increasingly been included as standard with the machine purchase, gradually covering more models and equipment categories.
“Caterpillar was the first to surpass the milestone of 1 million connected assets”, continued Mr. Andersson.
Other major manufacturers with installed bases of more than 100,000 units include SANY, Volvo Construction Equipment, Hitachi Construction Machinery, Deere & Company and JCB.
“Additional players having estimated installed bases of off-highway vehicle telematics units in the tens of thousands include Bobcat, Doosan Infracore, Liebherr, Terex, CNH Industrial, CLAAS Group, Hyundai Construction Equipment, AGCO, JLG Industries and Tadano”, concluded Mr. Andersson.
via https://www.AiUpNow.com
December 26, 2021 at 05:54PM by IoT.Business.News, Khareem Sudlow
