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OHV Telematics Market

Off-Highway Vehicle (OHV) Telematics Market by End-use Application (Construction, Agriculture and Mining), Technology Type (Cellular and Satellite), Sales Channel (OEM and Aftermarket), & Region – Forecast to 2022 – 2032

Off-Highway Vehicle (OHV) Telematics Market by End-use Application (Construction, Agriculture and Mining), Technology Type (Cellular and Satellite), Sales Channel (OEM and Aftermarket), & Region – Forecast to 2022 – 2032

Off-Highway Vehicle (OHV) Telematics Market - Analysis, Outlook, Growth, Trends, and Forecast

Off-Highway Vehicle Telematics Market Outlook

The off-highway vehicle telematics market is showing vital signs of growth with a projected CAGR of 15% from 2022 to 2032.

“Adoption of vehicles with telematics and informatics are growing as logistic companies leverage the data to optimize fuel consumption and prevent unnecessary delays in order fulfilment.”

The off-highway vehicle (OHV) telematics market demand outlook remains impressive, mainly driven by increasing adoption of telematics technologies across construction, agriculture & mining equipment.

Attributes

Details

OHV Telematics Market Size in 2021

US$ 421 Mn

OHV Telematics Market CAGR (2022-2032)

15%

What are the Growth Prospective for Off-Highway Vehicle (OHV) Telematics Market?

“Due to the increase in construction, agriculture and mining activities in the remote and inaccessible areas, there has been a growing demand for telematics trackers, geo tab devices, and geo tab dash cams. Another OHV telematics market trend shows rise in demand for mix telematics trackers and Bluetooth telematics.”

The automotive industry is tapping into next-generation technologies such as automotive telematics, while assisting the development and performance of machinery. Driven by this, the market is anticipated to witness substantial growth over the forecast period.

Burgeoning demand for cellular technology with increasing application within construction and mining industries will encourage the adoption of telematics in off-highway vehicles.

Other trends propelling the growth such as reduction in the cost of telematics services, government policies to increase safety & security of off-highway vehicles and rising global production for off-highway vehicles.

Reluctance to change business practices and lack of standardization of telematics system are some of the factors likely to limit the growth of off-highway vehicle (OHV) telematics market.

However, with the increasing penetration of advanced technology, coupled with the rising demand for off-highway vehicles, the market will continue registering gain at accelerated pace through the course of the forecast period.

Expansion of automotive industry and adoption of advanced technologies for better performance of equipment have boosted the demand of telematics technologies among the end users.

Adoption of big data and other advanced technologies for better connectivity and real-time data have increased the incorporation within the off-highway vehicles. Demand for advanced OHV for various application such as precision farming is furthering the adoption of telematics technologies.

Emergence of telematics combined with the improved performance and minimized labor due to the assistance of AI and IoT have increased the sales of OHV with advanced telematics system.

Growing need for the safety and security of the OHV without compromising cost or efficiency has led to the adoption of smart telematics system, optimizing the machinery performance.

AI-based telematics system ensure the performance and production rate of machinery while locating the real-time data as per the locations to avoid any danger looming in the construction sites or agricultural farming.

Strategic collaboration with other top companies and OEMs along with new product launches remains the key strategies of the leading market players to generate lucrative revenues over the forecast period.

What are the Key Segments for the Off-highway Vehicle Telematics Market?

“With the advancement in technology, telematics devices are getting more specific in their use and performance. This has led to a demand for more specific options such as motorcycle telematics, truck telematics, telematics for car, and more.”

With construction being the most lucrative segment owing to the increasing application of OHV telematics in off highway vehicles, the market demand will rise at a healthy pace during the forecast period.

According to the FMI’s analysis, the construction segment is anticipated to account for around 65% of global OHV telematics market sales. This change in market will increase the demand for particularly truck telematics, Isuzu telematics, and telematics for cars.

Construction segment is further sub-segmented into cranes, dozers, dump trucks, excavators and others. Increasing demand for telematics technology from construction equipment rental companies will improve the segment growth.

Hence, demand for telematics in the construction industry will burgeon even more in the upcoming years with surging technological development. Increasing application within construction industry will bolster the OHV telematics market growth.

How Will Stringent Regulations Affect Off-highway Vehicle Telematics Market?

Stringent regulations implemented on the automobile industry are expected to impact the adoption, installation and usage of telematics technologies in the off highway vehicles.

Increasing usage of off highway vehicles within construction and mining sector have bolstered the accident rates across the globe, especially in the U.S. Hence, pertaining to the safety of off highway vehicles, adoption of advanced telematics technology have been made mandatory.

Also, need for regulations in OHV telematics market has arisen from the necessity for standardization of equipment, performance of equipment and to curb the accident risks across the construction industry.

For instance, in 2019 the Executive Order 13834 Efficient Federal Operations report highlights the importance of adoption of telematics in the federal government. These regulatory policies are expected to improve the market demand over the coming years.

Why is the U.S. Anticipated to Yield High Growth Opportunities?

Increasing adoption of telematics technologies across the applications such as construction and mining equipment will boost the growth across the U.S. Imposition of strict rules pertaining to the safety of drivers and workers due to the failure of machinery and equipment have improved the adoption of telematics technologies.

As per the report of Occupational Safety and Health Administration, in 2019 on an average about 15 deaths every day was recorded in the country. Around 5,333 workers succumbed due to the failure in machinery and equipment in 2019.

Hence, adhering to the strict regulatory policies of the government, automakers and OEMs are adopting various advanced technologies such as artificial intelligence and internet of thinking to improve the performance and provide real-time data, avoiding the risk at the construction sites.

How will the Demand for OHV Telematics Rise in China?

As per the statistics of ‘Organisation Internationale des Constructeurs d'Automobiles’ automobiles production in April 2020 was recorded to be around 5,231,161 units. In April 2021, the production decreased slightly, with around 1,714,000 units in China. However, even with the decrease in production, the demand for off-highway telematics within the construction industry have increased the adoption.

Stringent regulatory policies for the installation of satellite positioning and telematics systems is playing vital role in the adoption of telematics by China’s automotive industry.

What is Supporting OHV Telematics Sales across Germany?

Development of German automotive industry has been on an upward trajectory since past couple of years on the back of rising technological advancements within the industry.

Stringent government policies focusing on the safety and security of off-highway vehicles have propelled the adoption of telematics among the OEMs and automakers across Germany.

According to the European Road Safety Observatory report, government across Germany have imposed strict policies regarding the safety of off highway vehicles. Incorporation of telematics in the off highway vehicles is mandatory as per the government rules.

Several public campaigns for awareness and incidents with agricultural tractors on rural roads were initiated by the government in 2017 across Germany. Due to this stringent policies, automakers and OEMs are increasing the adoption of telematics in the off-highway vehicles.

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Key Segments

Attributes

Details

Forecast period

2022 -2032

Historical data available for

2016 - 2020

Market analysis

US$ Mn for Value

By Sales Channel

  • Original Equipment Manufacturers (OEMs)
  • Aftermarket

By Technology Type

  • Cellular
  • Satellite

By End-Use Application

  • Construction
  • Agriculture
  • Mining

By Region

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East and Africa (MEA)

Key Questions Answered in the Report

What is the Growth Outlook for the Off-highway Vehicle Telematics Market?

The off-highway vehicle market is anticipated to register a CAGR of 15% during 2022-2032.
Construction is expected to contribute about 65% to the global OHV telematics market during the forecast market.

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