Highway Vehicle Telematics Market - Forecast(2023 - 2028)

The Global market for high vehicle telematics is forecast to reach $19.4 billion by 2025, growing at a CAGR of 21.4% from 2020 to 2025. The market growth is attributed to the factors such as growing applications among different verticals including agriculture, mining, construction and others. Moreover technological developments, safety, security, theft recovery and others boosts the market growth.

The report: “High vehicle telematics market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the high vehicle telematics market. 

By Sales: OEM, Aftermarket

By Technology: Cellular, Satellite

By End User: Agriculture (Harvesters, Tractors), Construction (Cranes, Dozers, Dump Trucks, Excavators, Loaders), Mining (Surface Mining Machinery, Underground Mining Machinery)

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South korea, Australia and Others), and ROW (Middle East and Africa)

Satellite segment held the highest market share of high vehicle telematics in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. The market growth is owing to its features including Vehicle tracking, Trailer and asset tracking, Maintenance improvements, Safety tracking, and others. A combination of GPS satellites, antennas,  GPRS networks and cloud technology makes highway vehicle tracking. The GPS receiver collects and stores knowledge from GPS satellites for use in devices such as GPS vehicle navigation systems. This often conveys the knowledge to the cloud servers used by office-based personnel through GPRS, where it can be utilised to send the closest driver to a new job. Highway vehicle servicing and equipment lifecycle monitoring is also enhanced by leveraging satellite telematics technologies to maintain details of hours of usage and plan proactive maintenance, as well as aid to keep eye on contract repair, engine hour logging and monitor details of operation. By monitoring engine diagnostics, such as battery strength, thermal brake performance, powertrain damage, intake valve issues, oxygen sensor problems, and more, firms can reduce costs and maintain machines in safe operating environments.

The Construction vertical segment held the highest market share in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025.   The market growth is primarily attributed to factors such as GPS-based technologies enabling automobiles working in various sectors to track and control the position. Moreover, due to telematics benefits, end users may control the unknown paths, regulate driving speed, and maintain protection, helping project stakeholders to reach timely deadlines. The construction sector makes heavy use of telematics for transportation. Telematics systems make it far simpler to monitor the movement of goods, so that the management may ensure that items are in order on site when required. When on-site materials are not available, the team will not be able to carry out the work they need. By promoting material movement in this manner, telematics allows it simpler for building teams to advance according to their scheduled timetables. In addition to improved driver behaviour tracking, more performance gains are enabled by increased route preparation-and the consequent decreased fuel costs. It helps vehicle administrators to identify and formulate methods to reduce unacceptable driver behavior, including difficult parking, tailgating, violent driving and rough cornering. It carries real fuel quality gains again.

APAC region is anticipated have the significant market growth during the forecast period 2020-2025. The market growth is owing to growing digitization, industrialisation technological developments, and others. Moreover, protection and enforcement solutions are some of the main factors which continue to drive the growth of the APAC highway Vehicle Telematics market as the health and safety is among the market-related tentative features and functions. The service providers integrate the compliance element into different activities, including supporting schedule control, laws and regulations, and tracking reporting timelines. These also help to integrate policy regulations and recommendations for applying telematics systems for heavy vehicles. China, India , Japan , South Korea and Australia are some of the main countries that played a major role in the development of the telematics industry for highway vehicles in Asia Pacific. Telematics for highway vehicles aid in overall performance enhancement, lower fuel and repair costs, lower operating costs, and enhance protection allowing the government develop guidelines for implementing the new telematics and boosting the development of the Asia Pacific commercial vehicle telematics industry.

Drivers – High vehicle telematics market 

Globally, internet usage has increased, as well as the growing use of modern wireless technologies. Advanced broadband infrastructure including 3 G, 4 G, 5 G and LTE is anticipated to be commonly adopted in the future. In most areas of the world road and service networks in telecommunications are continuously developing which is anticipated to boosts the market growth.

Vehicle monitoring systems involve working from a power source. Nevertheless, the drawbacks of all battery driven and hardwired systems are theirs. Battery-powered trackers will be held charged at all times in order to prevent the risk of getting trapped in an accident where there is no chance of calling for support if electricity is out. 

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the high vehicle telematics market. As of 2019, the market for high vehicle telematics market is consolidated with the top players including TomTom International BV, Zonar Systems Inc., Harman International Industries Inc., Bridgestone Europe NV/SA, Trackunit A/S, ORBCOMM Inc., Omnitracs LLC, Topcon Corporation, Navman Wireless, Wacker Neuson SE, and among others.