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The installed base of off-highway vehicle telematics systems to reach 16.1 million units worldwide by 2028

Berg Insight estimates that the global installed base of active off-highway vehicle telematics systems reached 8.8 million units in 2023.

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 are the second and third largest off-highway sectors in terms of the 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 12.9 percent, the active installed base of off-highway vehicle telematics systems across all sectors is forecasted to reach 16.1 million units worldwide in 2028.

The top-10 equipment manufacturers offering telematics together account for around 70 percent of the total number of off-highway vehicle telematics systems in use across the construction, mining, agriculture and forestry sectors globally.

Rickard Andersson, Principal Analyst, Berg Insight, said:

“Berg Insight ranks Caterpillar as the leading off-highway vehicle telematics provider and the runners-up are Komatsu and SANY.”

Caterpillar was the first to surpass the milestone of 1 million connected assets across all segments and the company now has more than 1.5 million units.

“Far from surprising, the leading equipment manufacturer by market share is also by far the top player when it comes to the number of off-highway vehicle telematics subscribers”, said Mr. Andersson. He adds that this is a natural development in an industry where telematics has increasingly been included as standard with the machine purchase, gradually covering more models and equipment categories.

“Other major manufacturers with several hundred thousand active units include Deere & Company, Volvo Construction Equipment, XCMG, Zoomlion, Hitachi Construction Machinery and JCB”, continued Mr. Andersson. He adds that HD Hyundai, CNH Industrial and Doosan Bobcat are also estimated to have reached the milestone of 100,000 units.

“Additional players having estimated installed bases of off-highway vehicle telematics units in the tens of thousands include AGCO, Liebherr, Terex, JLG Industries, CLAAS Group and Tadano”, concluded Mr. Andersson.

Download report brochure: The Global Off-Highway Vehicle Telematics Market

The post The installed base of off-highway vehicle telematics systems to reach 16.1 million units worldwide by 2028 appeared first on IoT Business News.

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