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Off-Highway Vehicle Telematics Market Key Insights
Off-Highway Vehicle Telematics Market Analysis by Regions
Off-Highway Vehicle Telematics Market Analysis by Segments
Off-Highway Vehicle Telematics Market Size (current and future)
Off-Highway Vehicle Telematics Market Competitive Benchmarking
2 years ago
Off-Highway Vehicle Telematics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Connectivity Type (Cellular-Based OHV Telematics and Satellite-Based OHV Telematics), Application (Construction Industry OHV Telematics, Agriculture Industry OHV Telematics, Mining Industry OHV Telematics and Others), and Technology (LTE-M, NB-IoT, Sigfox and Others)
The global off-highway vehicle telematics market was valued at US$ 754.44 million in 2020 and is expected to reach US$ 1,166.96 million by 2028; it is estimated to register a CAGR of 5.9% during the forecast period.
The off-highway vehicle telematics market covers a wide range of equipment utilized in the construction, mining, agriculture, and forestry industries, including s...
Off-Highway Vehicle Telematics Market
Increased need for OHV data processing, improved productivity and utilisation, and reduced operating costs related to repairs and maintenance are the primary factors driving the off-highway vehicle telematics market. Due to these benefits, logistics companies favour effective solutions over proper management, which is propelling the off-highway telematics sector ahead.
Regulations requiring off-highway vehicles to be fitted with telematics for better tracking of fuel emissions, vehicle emissions, accident detection, and driver hour regulation are what is driving the off-highway vehicle telematics market in developed regions.
Various legislative measures, such as to increase the security and safety of OHV and increase market demands, many governments are creating tough restrictions. However, as the Covid-19 pandemic surges again, governments have implemented lockdown restrictions yet again, which might hinder the market growth.
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