With over 65% of OHV Telematics Sales Originating From Installation in Construction Equipment Fleet; the Market Is Set To Experience Over 15% Growth during Projection Tenure (2021-2031)

Increasing adoption of OHV telematics within construction and agriculture industry will spur the sales. Demand for cellular technology within mining industries and construction industry will encourage the adoption of telematics in off-highway vehicles. Increasing adoption of OHV telematics within construction and agriculture industry will spur the sales. Demand for cellular technology within mining industries and construction industry will encourage the adoption of telematics in off-highway...

Increasing adoption of OHV telematics within construction and agriculture industry will spur the sales. Demand for cellular technology within mining industries and construction industry will encourage the adoption of telematics in off-highway vehicles.

Alongside this, application of telematics is continuously rising within rental equipment companies and mining industry for safety and security of vehicles. Due to this, key players are increasing investment to offer artificial intelligence (AI) integration in telematics systems.

Adoption of such novel technologies will improve the efficiency and optimize the performance of OHV telematics through real-time data feed. This will spur the sales in the market during the forecast period.

Also, stringent regulations and government policies implemented to ascertain road safety and security of the vehicle drivers and passengers have aided the implementation of telematics in off-highway vehicles.

As the world struggled with impact of unprecedented COVID-19 outbreak, sales of OHV telematics witnessed a slight setback during the FQ-20. However, steady recovery of activities in construction and mining industry, following vaccination roll outs, has improved prospects for market growth.

As per FMI, despite the tepid sales registered in 2020, the OHV telematics market registered impressive year-on-year (Y-o-Y) growth at 14.50% during 2020-2021.

"Market players are currently focusing on AI and IoT integration to offer advanced vehicle safety. This also will result in a slew of launches aimed at gaining competitive edge," says the Future Market Insights analyst.

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Key Takeaways from OHV Telematics Market Survey

Key Drivers

Key Restraints

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Competitive Landscape

Integration of cutting-edge technologies remains the core strategy of key players to expand their global footprints.

For instance, in June 2021, GPS Trackit unveiled its new connected video telematics system, VIDFLEET, integrated with artificial intelligence to deliver real-time in-cab audible alerts with clear pictures.

Leading players are also focusing on expansion of their already existing product portfolio through product innovation and launches.

For instance, in June 2020, to help commercial vehicle customers optimize and enhance their fleet management, Ford commercial solution announced the launch of its new web-based software telematics solution with GPS tracking to enhance their fleet efficiency.

Strategic mergers and collaborations among key end-users are among the key strategy adopted by industry giants to maintain their lead.

For instance, in September 2020, leading player MiX Telematics announced its partnership with Navistar to provide customers enhanced and comprehensive telematics solution.

As per FMI's analysis, TomTom International, Harman International, Mix Telematics, Omnitracs, and ORBCOMM Inc. are the top 5 players dominating the market, accounting for 25% of global market share.

Some of the leading players operating in the OHV telematics market profiled by Future Market Insights are:

More Valuable Insights on OHV Telematics Market

FMI, in its latest report, offers a detailed segmentation on the global OHV telematics market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in OHV telematics market with detailed segmentation:

By Sales Channel:

By Technology:

By End-Use Application

By Region:

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Key Questions Covered in the OHV Telematics Market Report 

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