12-Mar-2020: The global material handling
equipment telematics market size is expected to reach USD
7.6 billion by 2025, according to a study conducted by Grand View Research,
Inc., exhibiting a CAGR of 11.7% during the forecast period. Technological
advancements in the field of telematics and improved connectivity services have
resulted in increased integration of telematics solutions in off-highway
equipment.
Rising number of
sensor nodes being embedded in the equipment are used to transmit real-time
data and collect a variety of information regarding equipment’s location, fuel
consumption, and distance traveled, among others. This data is further being
used by fleet operators to make prompt business decisions and improve their
operational efficiency. Material handling equipment telematics solutions are
also increasingly enabling operators to monitor and manage fleet operations in
real time to improve cost savings, productivity, and customer gratification.
Material handling
equipment telematics solutions are being increasingly integrated into a range
of equipment used in the construction, agriculture, manufacturing, and mining
industries. The adoption of telematics solutions in the construction sector is
especially rising as numerous OEMs are deploying these solutions in their
products for added benefits such as keeping an effective track of equipment
performance, reduction in fuel consumption, and theft reduction. This trend is
expected to have a positive impact on the growth of the global material
handling equipment telematics market.
However, lack of
advanced networking technologies in developing regions, which are required for
enabling reliable and high-speed connected infrastructures, is likely to
present substantial concerns regarding data privacy and data security. This
will, thus, hinder the adoption of telematics in material handling equipment.
Furthermore, concerns such as complexity of deployment of telematics solutions
and lack of standardization are also expected to hamper growth prospects of the
market.
In
depth research report on Material Handling Equipment Telematics Market
Further key findings from the study suggest:
·
In 2017, the truck telematics segment accounted for over
20.0% of the overall revenue.; Growing concerns related to vehicle security,
safety, and traffic congestion are expected to drive the growth of the truck
telematics segment
·
In regions such as North America and Europe, wireless connectivity
infrastructure is well-developed, facilitating widespread investments in
telematics solutions among fleet operators.
·
North America is projected to dominate the market through
2025, whereas Asia Pacific will register the highest growth during the same
period
·
Some of the prominent players in the material handling
equipment telematics market are TomTom International BV, ORBCOMM, MiX
Telematics, Teletrac Navman US Ltd., Omnitracs, and Zonar Systems.
·
These players are focused on collaboration opportunities with
numerous stakeholders and innovations through increased resources diverted
towards R&D activities.
Grand View Research
has segmented the global material handling equipment telematics market based on
product and region:
Material Handling Equipment Telematics Product Outlook
(Revenue, USD Million, 2014 - 2025)
·
Aerial Work Platform
·
Forklift
·
Truck Mounted Forklift
·
Articulated Forklift
·
Side Loader
·
Other
·
Crane
·
Port Crane
·
Truck mounted Crane
·
Others
·
Earthmoving Equipment
·
Spreader
·
Articulated Wheel Loader
·
Farm Implements
·
Road Work Vehicle
·
Self-propelling AG machine
·
Others
·
Truck
·
Military Vehicle
·
Trailer
·
Others
·
Tractor
·
Terminal Tractor
·
Tow Tractor
·
Others
·
Telehandler
·
Others
·
Sweeper & Scrubber
·
Personnel & Burden Carrier
·
Power Generation/Light Station
·
Others
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment