Table of Contents
Construction Equipment Segment Dominates, Contributing 42% by 2020
Overall awareness of OHV telematics has considerably increased in recent years as the technology is now perceived as the go-to solution for improving total cost of ownership. The aim of this study is to research, analyze, and forecast the OHV temematics market in North America. The major focus is on trends in services, solutions, and technologies for specific segments such as construction, mining, industrial, and agricultural equipment. The study also highlights the rental equipment industry’s influence in the telematics market and offers an opportunity analysis by segment, application, business model, and country. Key strategic predictions have also been discussed. The study period is 2013 (base year) to 2020.
Total OHV Telematics Market: Key Takeaways, North America, 2013–2020
1 The size of the total OHV telematics market is ~ , (2013), with the construction equipment industry chipping in nearly %.
2 Despite significant penetration within the construction equipment segment and expectations for it to double by 2020, the mining equipment industry will provide maximum potential as it creates space for technological advancement and innovation.
3 Caterpillar (CAT Product Link), Trimble Navigation, and Telogis together hold the highest market share of about one third of the total OHV telematics market.
4 The mining equipment industry will likely become the key driver for technological advancement and innovation.
5 Government regulations and standardization will augment the OHV telematics market and expand the installed base at a CAGR of % from 2013–2020.
6 Asset tracking, location, monitoring, and maintenance are key features as developments in maintenance- and utilization-related services are likely to amplify.
OHV Telematics—Market Outlook
Heavy equipment OEMs are partnering with aftermarket vendors to develop solutions (e.g., Telogis with Manitowoc formed an exclusive partnership in 2013).
-Reduction in the cost of wireless data and hardware is driving the market (– % reduction).
-OEMs are enablers while the aftermarket drives the adoption rate (OEMs do not have a great database infrastructure and face difficulty in providing solutions for mixed fleets.).
-The telematics penetration in the construction equipment segment is expected to reach % in 2020 (currently %).
-The rental equipment market growth in North America catalyzes telematics adoption ($ billion in 2013, United Rentals topping with outlets).
-No mandatory regulations, but several standards are being developed and maintained by AEMP and AEM (released data points and fault codes in March 2014).
-Equipment maintenance is in enormous demand (for rental companies that perform their own preventive and scheduled maintenance in order to ensure optimal uptime for the asset).
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