The Global Off-Highway Vehicle Telematics Market size in terms of shipment volume is expected to grow from 7.59 Billion units in 2024 to 16.58 Billion units by 2029, at a CAGR of 16.93% during the forecast period (2024-2029).
The off-highway vehicle telematics market covers a wide range of equipment utilized in the construction, mining, agriculture, and forestry industries, including specialist heavy machinery, lighter gear, and other vehicles. By using off-highway vehicle (OHV) telematics devices that allow GPS, cellular, or satellite connectivity for access to real-time equipment data, off-highway vehicle telematics solutions offer continuous monitoring of the position, condition, health, and utilization of equipment.
The intensity of competitive rivalry is high, with multiple players vying for market share in a fairly contested space. The competition is expected to increase further with newer players looking to offer specialized offerings and innovative business models. The OEMs are venturing into the telematics space by offering in-house development of telematics hardware and software as a bundled solution to the fleet owners. This is creating a tough spot for aftermarket vendors.
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