Off-Highway Vehicle (OHV) Telematics Market, By End-use Application (Construction (Dump Truck, Excavators, Loaders, Dozers, Cranes, Others), Agriculture(Tractors, Harvesters) and Mining(Surface Mining Machinery, Underground Mining Machinery)), By Technology (Cellular and Satellite), By Sales Channel (OEM and Aftermarket), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
An off-highway vehicle (OHV) telematics is a highly digitized and connected production facility that depends on smart manufacturing. The concept of the off-highway vehicle (OHV) telematics is considered a crucial outcome of the fourth industrial revolution, i.e. Industry 4.0. Manufacturing companies are the major adopters of smart factories where they employ cutting-edge technologies such as artificial intelligence, Internet of Things, big data, analytics, and robotics.
The Global Off-Highway Vehicle (OHV) Telematics Market is estimated to account for US$ 1205.2 Mn in terms of value by the end of 2030.
Market Dynamics
Rising adoption of IIoT and cyber-physical systems is the major factor driving the global off-highway vehicle (OHV) telematics market as adoption of industrial internet of things (IIoT) and cyber-physical systems (CPS) is expected to revolutionize the global off-highway vehicle (OHV) telematics market. Moreover these IIoT devices allows connectivity all along the value chain for better communication among manufacturers, wholesalers, retailers, and consumers. Furthermore, government initiatives and increasing investments in smart manufacturing by the large manufacturing companies is also expected to propel the marketFor instance, The European Commission is investing around US$ 2 Bn on “Factories of The Future 2020” initiative, along with The European Factories of the Future Research Association (EFFRA) in the form of a public-private partnership to develop the blueprint for the smart manufacturing sector in the European Union.
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