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Global Off-Highway Vehicle Telematics Market Report 2019: Active Installed Base of Off-Highway Vehicle Telematics Systems 2018-2023DUBLIN, Nov. 22, 2019 /PRNewswire/ -- The "The Global Off-Highway Vehicle Telematics Market" report has been added to ResearchAndMarkets.com's offering. 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 publisher 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. The North American market is estimated to be slightly larger than the European. The Rest of the 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. The publisher ranks Caterpillar and Komatsu as the leading off-highway vehicle telematics providers. Caterpillar is well on its way to achieving 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 introducestandard 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 may be 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 the 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, this publisher 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 is 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. Key Topics Covered: 1 The global off-highway vehicle market For more information about this report visit https://www.researchandmarkets.com/r/jqhedq Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/global-off-highway-vehicle-telematics-market-report-2019-active-installed-base-of-off-highway-vehicle-telematics-systems-2018-2023-300963726.html SOURCE Research and Markets |