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The Global Off-Highway Vehicle Telematics Market

The Global Off-Highway Vehicle Telematics Market

  • June 2019
  • 210 pages
  • ID: 5791363
  • Format: PDF
  • By Berg Insight AB

Summary

Table of Contents

The off-highway vehicle market includes various equipment such as specialised heavy machinery, lighter equipment and other vehicles used in the construction, mining, agriculture and forestry sectors. Off-highway vehicle telematics refers to telematics hardware and associated software solutions deployed for remote monitoring and management of fleets of machinery and equipment used in these sectors. Early initiatives among the heavy equipment OEMs started to emerge already in the 1990s and many manufacturers followed suit in the 2000s. Today, most equipment manufacturers have introduced some type of telematics offerings for their customers, either as a result of in-house development or through collaborative efforts involving third-party technology partners powering telematics solutions commonly under the OEMs’ brands. A wide range of aftermarket providers have entered the off-highway vehicle telematics space, offering solutions for various assets including multi-brand equipment fleets. Solutions available on the market enable the delivery of vehicle management, operator management and safety management applications linking off-highway machines and enterprise IT systems. 


The analyst estimates that the global installed base of active off-highway vehicle telematics systems reached 3.3 million units in 2018. 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 moreover 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 17.8 percent, the active installed base of off-highway vehicle telematics systems across all sectors is forecasted to reach 7.5 million units worldwide in 2023. The North American market is estimated to be slightly larger than the European. The Rest of World is moreover estimated to represent more than half of the global installed base of off-highway vehicle telematics systems. 

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. Caterpillar is well on its way to achieve its target of 1 million connected assets this year. Other major manufacturers with installed bases of more than 100,000 units include Hitachi Construction Machinery, JCB, Deere & Company and Volvo Construction Equipment. Additional players having installed bases of off-highway vehicle telematics units in the tens of thousands include Doosan Infracore, Liebherr, CNH Industrial, CLAAS Group and Hyundai Construction Equipment. 

The aftermarket for off-highway vehicle telematics is expected to shrink as the equipment manufacturers continue to introduce standard fitment on additional machine models and at the same time increase the length of free software subscriptions. Arguments such as the OEMs’ weak spot being the inability to adequately serve the needs of mixed multi-brand fleets are becoming less valid thanks to initiatives such as the AEMP telematics standard which makes it possible for a fleet operator to collect data from different brands and manage it all in its software interface of choice. There are however promising opportunities for telematics players that partner with the OEMs, either as end-to-end full-service providers or – in many cases maybe more realistically – working alongside OEM personnel to optimise the telematics functionality. In addition to the standard-fitted systems and time-limited subscriptions commonly included for free, the telematics players can also benefit from upselling of more advanced functionality. There are already several notable examples of partner-powered and co-developed offerings in the equipment OEM telematics space. In line with trends noted in adjacent markets such as fleet management for commercial vehicles, Berg Insight anticipates that the partner strategy will continue to grow in popularity among the equipment manufacturers at the expense of in-house telematics development efforts. This can especially be the case for equipment manufacturers that do not yet offer OEM telematics to their customers. An increasing number of players such as vendors focused on on-road vehicle fleet management are moreover expected to diversify into telematics for various off- highway vehicles driven by the popularisation of the Internet of Transportation Things (IoTT). This enables customers to monitor and manage a wide range of diverse assets on the same platform. 

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