NEW YORK, Aug. 28, 2017 /PRNewswire/ -- Read the full report: http://www.reportlinker.com/p05083040/Telematics-Market-for-On-Off-Highway-Form-Factor-Hardware-Vehicle-Equipment-Type-Technology-Aftermarket-Region-Forecast-to.html
The telematics market for on & off-highway vehicles is projected to grow at a CAGR of 14.37% during the forecast period, to reach a market size of USD 40.84 billion by 2022. The increasing number of safety and security regulations (eCall, stolen vehicle recovery, ERA GLONASS, and ELD mandate), rising demand for vehicle data for interpretation and analysis, improved productivity and utilization of off-highway equipment, and reduced operational costs are the key drivers for this market. On the other hand, the lack of standardization and data security and privacy issues are some of the key restraints that could influence the growth of this market.
"Diagnostics services are projected to grow at the fastest rate in the off-highway telematics market over the period of next five years"
The diagnostics services segment is estimated to grow at the highest CAGR in the telematics market for off-highway vehicles during the forecast period. The diagnostics services allow the users to proactively monitor the engine condition and send a maintenance alert in advance, if required, to prevent a major breakdown. Further, predictive maintenance helps to check the equipment operation and reliability to ensure smooth functioning of the equipment. Hence, the minimization of maintenance and repairing costs and performance monitoring of critical parts are expected to drive the diagnostics services market for off-highway vehicles in the near future.
"Cellular technology is estimated to have the largest share of the off-highway telematics market"
The cellular technology is estimated to have the largest share of the telematics market for off-highway vehicles during the forecast period. Nowadays, the devices are compatible with 3G and 4G LTE technology for data communication. Countries such as the U.S., Canada, Germany, France, Japan, and South Korea have a high installed base of cellular technology owing to the excellent network infrastructure. China, India, and Brazil have also shown a significant growth potential due to infrastructural developments, increasing number of users, and connectivity solution providers. Hence, owing to the wide network coverage offered by established network providers such as AT&T (U.S.), Verizon (U.S.), and Vodafone Group (U.K.) in North America, Europe, and a few Asian countries, the cellular technology will continue to be an attractive option and will remain dominant in the coming years.
"Asia Oceania: The fastest-growing telematics market for off-highway vehicles from 2017 to 2022"
The Asia Oceania telematics market for off-highway vehicles is projected to grow at the highest CAGR during the forecast period. The growth of this market is mainly driven by the construction equipment. The factors contributing to the growth of this market are a large consumer base, high demand for basic infrastructural facilities, and constant increase in infrastructure funding. According to a report published by Oxford Economics in collaboration with PricewaterhouseCoopers (PwC), the global infrastructure spending will grow to approximately USD 9.0 trillion per year by 2025, out of which China's share will be close to 60%. Also, countries such as India and China are introducing a number of projects for infrastructure development. Therefore, the equipment must have advanced solutions to increase the operational performance and cater to the increased demand. This will further drive the telematics market in this region.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from hardware manufacturers to service providers and OEMs. The break-up of the primaries is as follows:
• By Company Type – Hardware Manufacturers - 41%, Service Providers – 32%, and OEMs - 27%
• By Designation - C-level - 55%, D-Level – 38%, and Others –7%
• By Region – Asia-Oceania - 47%, Europe - 29%, and North America - 24%
The report provides detailed profiles of the following companies:
• Robert Bosch GmbH (Germany)
• Continental AG (Germany)
• LG Electronics (South Korea)
• Verizon (U.S.)
• Harman International (U.S.)
• Qualcomm Technologies, Inc. (U.S.)
• Delphi Automotive PLC (U.K.)
• Trimble, Inc. (U.S.)
• Intel (U.S.)
• Magneti Marelli S.P.A. (Italy)
• TomTom International B.V. (Netherlands)
• Visteon Corporation (U.S.)
• The primary objective of the study is to define, describe, and forecast the on-highway vehicles telematics market by vehicle type (PC, LCV, and HCV), services (ACN, emergency calling, navigation & infotainment, on-road assistance, remote diagnostics, and vehicle tracking), connectivity type (embedded, tethered, and integrated), and aftermarket. The study also segments the off-highway telematics market by equipment (construction and agriculture tractors), services (fuel management, navigation, location/usage tracking, maintenance and repair scheduling, diagnostics, and others), and technology (cellular and satellite). It also includes the hardware market (infotainment display unit and telematics control unit) for both on- & off-highway vehicles.
• It analyzes the opportunities offered by various segments of the market to the stakeholders.
• It analyzes the regional markets for growth trends, prospects, and their contribution to the overall market.
• It tracks and analyzes competitive developments such as new product launches, expansions, joint ventures, acquisitions, and other industry activities carried out by key industry participants.
• It also tracks and analyzes the competitive leadership mapping matrix for key players in the telematics market.
Reasons for buying the report
• The report covers a detailed analysis of the telematics market based on on-highway & off-highway vehicles.
• The study provides qualitative and quantitative analysis of each segment, which is represented in terms of volume (thousand units) and value (USD Million).
• The top twelve companies, which have a significant impact on the market, are profiled along with their financial structure, recent developments, and product portfolio.
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