Construction Machinery Telematics Market by Machinery Type (Backhoes, Crane, Excavator), Solution (Asset Tracking, Diagnostics & Maintenance, Fleet Management), Component, Sales Channel - Global Forecast 2024-2030
The Construction Machinery Telematics Market size was estimated at USD 2.39 billion in 2023 and expected to reach USD 2.73 billion in 2024, at a CAGR 15.58% to reach USD 6.60 billion by 2030.
Construction telematics refers to using telecommunication and information technologies in the construction industry to enhance construction site efficiency, productivity, and safety. Construction machinery telematics provides real-time access to machines by tracking engine hours, providing mileage report alerts, and monitoring fuel consumption. Construction equipment telematics permits construction firms to track equipment's location and performance, allowing them to monitor construction equipment utilization and ensure that assets are used efficiently. The increasing number of construction activities worldwide is elevating the usage of construction machinery telematics, which includes the usage of GPS tracking and mapping, real-time communication, and data analysis to manage and optimize various aspects of the construction process. Increasing investment in the construction of smart residential and commercial buildings by private and public organizations is expected to expand the usage of construction machine telematics. However, the high cost of construction equipment telematics is impeding the market's growth. The increasing integration of advanced technologies in construction equipment telematics by market vendors and innovators is expected to fuel the growth of construction machinery telematics.
Regional Insights
The construction machinery telematics market in Europe, the Middle East, the African region, and American economies are rapidly developing owing to high construction expenditures and supportive government initiatives to digitalize the construction sector. The recent investments by the government through the Digital Europe Programme, Horizon Europe, and InvestEU to finance projects related to innovation of digitalization of the construction industry are expected to scale up the use of construction machinery telematics in Europe. Moreover, the massive expenditures on the construction sector in emerging Asian economies promote the demand for construction machinery telematics. Several projects initiated in the region, including the Bharatmala highway project and Smart City project in India, the Summer Olympics 2020 in Japan, and China's One Belt One Road initiative, encouraged the adoption of construction machinery telematics to enhance diagnostics and maintenance of construction fleets. The ongoing research and development (R&D) for innovation of product portfolios and massive adoption of digital technologies in the construction sector are expected to bolster the demand for the construction machinery telematics market in the Americas in the coming years.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Construction Machinery Telematics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- The increasing number of residential and commercial building activities worldwide
- Growing investments in the digitalization of the construction sector
- Government regulations to improve safety across construction sites
- Market Restraints
- High cost associated with construction telematics equipment
- Market Opportunities
- Introduction of advanced construction equipment telematics software solutions
- Increasing focus on improving sustainability in the construction sector
- Market Challenges
- Failure associated with telematics in construction machinery
- Market Segmentation Analysis
- Machinery Type: Increasing usage of excavators in construction machinery telematics to monitor engine performance
- Solution: Rising preference for asset tracking solutions among the construction industry to monitor their equipments
- Component: Expanding usage of hardware components in construction machinery telematics for vehicle monitoring
- Sales Channel: Growing demand for original equipment manufacturers (OEMs) in in construction machinery telematics
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Construction Machinery Telematics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Construction Machinery Telematics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- McGovern Plant Hire invest in Hitachi Construction Machinery equipped with mixed fleet telematics system CTFleet Link - Hitachi
McGovern Plant Hire has made a significant investment in Hitachi Construction Machinery. They have acquired a range of machines, including ZX33U-6s and ZX225US-7s, equipped with HCMUK's mixed fleet telematics system, CTFleet Link, and Xwatch.
Talpasolutions closes Euro 15 million Series B to boost industrial intelligence in heavy industry
TalpaSolutions, an industrial intelligence company, recently closed their Series B funding round at USD 16.24 million. This funding allows them to expand their technology solutions across the heavy industry sector and provide more intelligent construction machinery telematics solutions to help reduce unplanned downtime and cost overruns. Through artificial intelligence of sensors and other data points, they can create smarter insights in faster time-frames to better predict performance failures and optimize operational cycles. This technology promises more successful outcomes for companies in the heavy industry sector.
IntelliShift Announced Procore Partnership
IntelliShift announced a partnership with Procore Technologies, a cloud-based construction management platform. This strategic alliance offers countless benefits for those in the construction machinary telematics market. By combining the IntelliShift and Procore API's, customers can gain access to powerful solutions such as complex analytics, fleet dispatching and edocuments that can be used to increase efficiency and reduce costs. With both IntelliShift and Procore focusing heavily on customer satisfaction and user experience, clients are expected to receive significant service with optimal results.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Construction Machinery Telematics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Construction Machinery Telematics Market, highlighting leading vendors and their innovative profiles. These include ABAX Group AS, Bosch Rexroth AG, Caterpillar Inc., Cellutrak Canada Inc., Deere & Company, EquipmentShare.com Inc., Fleet Intelligence by Foresight Intelligence, Inc., Geotab Inc., Hexagon AB, Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., Infineon Technologies AG, Inseego Corp., J C Bamford Excavators Ltd., JLG Industries Inc., Komatsu Ltd., Kubota Corporation, MachineMax, Mahindra Group, Mix Telematics Limited, Motive Technologies, Inc., Orbcomm Inc., Rosenberger Telematics GmbH, Samsara Inc., Teletrac Navman US Ltd., Tenna LLC, Topcon Corporation, Trackunit Corporation, Trimble Inc., Verizon Communications Inc., and Volvo Group.
Market Segmentation & Coverage
This research report categorizes the Construction Machinery Telematics Market to forecast the revenues and analyze trends in each of the following sub-markets:- Machinery Type
- Backhoes
- Crane
- Excavator
- Loaders
- Telescopic Handling
- Solution
- Asset Tracking
- Diagnostics & Maintenance
- Fleet Management
- Safety & Compliance
- Component
- Hardware
- Software
- Sales Channel
- Aftermarket
- OEM
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. The increasing number of residential and commercial building activities worldwide
- 5.1.1.2. Growing investments in the digitalization of the construction sector
- 5.1.1.3. Government regulations to improve safety across construction sites
- 5.1.2. Restraints
- 5.1.2.1. High cost associated with construction telematics equipment
- 5.1.3. Opportunities
- 5.1.3.1. Introduction of advanced construction equipment telematics software solutions
- 5.1.3.2. Increasing focus on improving sustainability in the construction sector
- 5.1.4. Challenges
- 5.1.4.1. Failure associated with telematics in construction machinery
- 5.2. Market Segmentation Analysis
- 5.2.1. Machinery Type: Increasing usage of excavators in construction machinery telematics to monitor engine performance
- 5.2.2. Solution: Rising preference for asset tracking solutions among the construction industry to monitor their equipments
- 5.2.3. Component: Expanding usage of hardware components in construction machinery telematics for vehicle monitoring
- 5.2.4. Sales Channel: Growing demand for original equipment manufacturers (OEMs) in in construction machinery telematics
- 5.3. Market Trend Analysis
- 5.3.1. Adoption of automation and digitalization in the construction sector with the availability of government regulation for safety across construction sites
- 5.3.2. Expanding construction activities and government initiatives to adopt advanced technologies in the construction sector
- 5.3.3. Initiatives for telematics promotion in Europe and the emergence of international market players in the Middle East & Africa
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Construction Machinery Telematics Market, by Machinery Type
- 6.1. Introduction
- 6.2. Backhoes
- 6.3. Crane
- 6.4. Excavator
- 6.5. Loaders
- 6.6. Telescopic Handling
- 7. Construction Machinery Telematics Market, by Solution
- 7.1. Introduction
- 7.2. Asset Tracking
- 7.3. Diagnostics & Maintenance
- 7.4. Fleet Management
- 7.5. Safety & Compliance
- 8. Construction Machinery Telematics Market, by Component
- 8.1. Introduction
- 8.2. Hardware
- 8.3. Software
- 9. Construction Machinery Telematics Market, by Sales Channel
- 9.1. Introduction
- 9.2. Aftermarket
- 9.3. OEM
- 10. Americas Construction Machinery Telematics Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Construction Machinery Telematics Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Construction Machinery Telematics Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. McGovern Plant Hire invest in Hitachi Construction Machinery equipped with mixed fleet telematics system CTFleet Link - Hitachi
- 13.3.2. Talpasolutions closes Euro 15 million Series B to boost industrial intelligence in heavy industry
- 13.3.3. IntelliShift Announced Procore Partnership
- 13.3.4. HCSS Partnered With Clue Insights to Give Construction Companies a Single View of Their Entire Operation and Its Assets
- 13.3.5. IntelliShift Extended Construction Fleet Data Automation Through Data Xchange Partnership
- 13.3.6. Volvo CE revealed Connected Map Technology for Vehicle Visualization
- 13.3.7. Trimble Announced Path Planning Technology Toward Autonomous Goal
- 13.3.8. Battery Ventures Agrees to Make Significant Investment to Drive Growth, Innovation in European Fleet-Management Technology Sector
- 13.3.9. Construction Photogrammetry Vendor Avvir Acquired by Hexagon AB
- 13.3.10. Geotab Becomes The First Dedicated Telematics Company To Receive SBTI Validation For Its Emissions Reduction Targets
- 13.3.11. Komatsu launched Smart Construction Retrofit Kit
- 13.3.12. Komatsu Acquired Australian Telematics Company
- 13.3.13. Hitachi Construction Machinery Americas Expands in North America and Latin America
- 13.3.14. Geotab and Free2move Partnered on Integrated Telematics Solution for Stellantis
- 13.3.15. Hitachi launched new telematics system - Construction Europe
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
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