The installed base of construction equipment OEM telematics systems to reach 9.6 million units worldwide by 2026
The publisher has found that the global installed base of active construction equipment OEM telematics systems reached 5.2 million units in 2021. Growing at a compound annual growth rate (CAGR) of 13.0 percent, the active installed base is forecasted to reach 9.6 million units worldwide in 2026. This includes all CE telematics systems marketed by construction equipment OEMs, either developed in-house or provided by the CE manufacturers in partnership with thirdparty telematics players. The European market accounted for around 0.8 million active construction equipment OEM telematics systems at the end of 2021. The North American market is estimated to be somewhat larger than the European. The Rest of World moreover represents more than half of the global installed base of CE telematics systems provided by construction equipment OEMs.
Most major construction equipment OEMs have introduced telematics offerings for their customers either independently or in collaboration with telematics partners. OEM telematics systems are today commonly factory-installed as standard at least for heavier machines and increasingly also for compact equipment. The publisher ranks Caterpillar and Komatsu as the leading construction equipment OEMs in terms of the number of CE telematics systems deployed worldwide. Based in the US and Japan respectively, the two companies are also by far the leading construction equipment manufacturers in terms of market share. Caterpillar was the first to surpass the milestone of 1 million connected assets in the construction segment. Caterpillar’s largest markets for its telematics offerings are North America and Europe while Komatsu has the largest share of its telematics units in Japan and China followed by North America and Europe. Other major players with several hundred thousand active CE telematics units include SANY in China, Sweden-based Volvo Construction Equipment, JCB headquartered in the UK and Japan-based Hitachi Construction Machinery. Deere & Company, Hyundai Heavy Industries and Doosan Bobcat are also estimated to have reached the milestone of 100,000 units. Additional players having installed bases of construction equipment telematics units in the tens of thousands include Liebherr, Terex, JLG Industries, CNH Industrial and Tadano.
Highlights from the Report
- Insights from numerous interviews with market-leading companies.
- New data on construction equipment sales and market shares.
- Comprehensive overview of the construction equipment telematics value chain and key applications.
- In-depth analysis of market trends and key developments.
- Updated profi les of 26 construction equipment OEMs and their telematics offerings.
- Market forecasts by region lasting until 2026.
This Report Answers the Following Questions
- Which are the main telematics systems offered by construction equipment manufacturers?
- Which are the key construction equipment telematics applications?
- What business models are used by OEMs offering telematics?
- Which OEM telematics offerings are powered by telematics partners?
- Are there regional variations on the global market for construction equipment telematics?
- How will the construction equipment OEM telematics market evolve in the future?
Table of Contents
Executive Summary
Companies Mentioned
A selection of companies mentioned in this report includes:
- JCB
- BOMAG
- Kubota
- SANY
- Tadano
- Terex
- Doosan Bobcat
- Wacker Neuson
- Deere & Company
- Mecalac
- CNH Industrial
- JLG Industries
- Link-Belt Cranes and LBX (Sumitomo)
- LiuGong
- Takeuchi
- Hyundai Construction Equipment
- Hitachi Construction Machinery
- Hyundai Doosan Infracore
- Caterpillar
- Kobelco
- Bell Equipment
- Mahindra & Mahindra
- Liebherr
- Komatsu
- Manitowoc
Methodology
The Internet of Things is very diverse. There are hundreds of different use cases, each with different dynamics. The starting point is to segment the market.
The analyst begins with a number of sectors: Automotive, Cities, Health, Industry, Home, Industrial, Energy, Retail and Consumer Electronics. Each of these sectors breaks down into a number of applications. In total across all sectors, the analyst examines around 150 separate applications. It is at this application level that they generate their IoT forecast. The analyst builds reliable data bottom-up. They take into consideration the current adoption rate, regulations, demographics, vertical-specific statistics, value chain structure, etc.
The rigorous data collection methods are based on first-hand and secondary sources. The analyst conducts many hundreds of executive interviews on a yearly basis with companies from all parts of the IoT value chain. They talk to on a regular basis all major mobile operator groups and regulators as well as the chipset, module, and terminal vendors. They also interview many companies in each of the vertical markets.
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