Telematics systems will be installed on more than 12 million pieces of construction equipment and off-highway vehicles by 2026, doubling the number of units in 2021, according to “The Global Off-Highway Vehicle Telematics Market” from Berg Insight.
Construction accounts for the largest share, according to the report, which cited the increasing number of OEM-supplied systems along with the number of third-party providers as reasons behind the growth. It said the number of units is growing at a compound annual growth rate of 13.2 percent, with the North American population “somewhat larger” than the European.
“The top 10 equipment manufacturers offering telematics together account for 70 percent of the total number of off-highway vehicle telematics systems in use across the construction, mining, agriculture and forestry sectors worldwide,” said Rickard Andersson, principal analyst, in a statement. Caterpillar and Komatsu lead that group. Manufacturers with more than 100,000 units include: Sany, Volvo, Deere, Hitachi, JCB, Hyundai Heavy Industries, and Doosan Bobcat.
Source: Berg Insight
