Microelectromechanical systems, the internet, and wireless technologies have all come together to form the Internet of Things (IoT). Fleet owners can utilize IoT to remotely monitor vehicle speed, tire air pressure, fuel usage, and driver behavior, further improving vehicle and driver efficiency. Developers of telematics systems can use this technology to create telematics solutions tailored to specific needs in the mining, agriculture, and construction industries, where operational costs are high. Service providers and fleet operators can embrace predictive analytics by combining IoT and fleet management technology. This gives the context to accomplish proactive management and a competitive edge in several critical operational areas. IoT sensors in service-oriented products, such as air conditioners, can only notify a service call when required, rather than at regular intervals. Condition-based monitoring lowers service costs while boosting accuracy and customer service. One of the most significant expenses for any fleet is fuel. If IoT sensors are integrated into the telematics system, fleet managers can get a near-real-time view of vehicle fuel use and expenditures. This enables managers to see who needs to be educated on effective driving behaviors and track unlawful operating expenditures and driving patterns, such as idling, which can waste gasoline. Furthermore, all fleets place a high focus on safety. With rising incidents of speeding, forceful braking, and aggressive driving, fleet managers can use driver coaching and safety education to address undesirable driving behaviors. Thus, the growing integration of the IoT can open up new commercial possibilities, thereby driving the Europe market growth.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe off-highway vehicle telematics market at a healthy CAGR during the forecast period.
The Europe off-highway vehicle telematics market is analyzed on the basis of connectivity type, application, technology, and country. Based on connectivity type, the market is segmented into cellular-based OHV telematics and satellite-based OHV telematics. The cellular-based OHV telematics segment dominated the market in 2020, and the satellite-based OHV telematics segment is expected to report the fastest growth during the forecast period. In terms of application, the market is segmented into construction industry OHV telematics, agriculture industry OHV telematics, mining industry OHV telematics, and others. The construction industry OHV telematics segment dominated the market in 2020, and the agriculture industry OHV telematics segment is expected to report the fastest growth during the forecast period. Based on technology, the market is segmented into LTE-M, NB-IoT, Sigfox, and others. The LTE-M segment dominated the market in 2020, and the same segment is expected to report the fastest growth during the forecast period. Based on country, the Europe off-highway vehicle telematics market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe.
ACTIA Group; Omnitracs, LLC; ORBCOMM Inc.; Stoneridge, Inc.; Teletrac Navman; TomTom; Telematics BV; Trackunit A/S; TTControl GmbH; Wacker Neuson SE; and Zonar Systems Inc. are the leading companies in the Europe off-highway vehicle telematics market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 216.63 Million |
| Market Size by 2028 | US$ 313.21 Million |
| CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Connectivity Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Off-Highway Vehicle Telematics Market is valued at US$ 216.63 Million in 2021, it is projected to reach US$ 313.21 Million by 2028.
As per our report Europe Off-Highway Vehicle Telematics Market, the market size is valued at US$ 216.63 Million in 2021, projecting it to reach US$ 313.21 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The Europe Off-Highway Vehicle Telematics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Off-Highway Vehicle Telematics Market report:
The Europe Off-Highway Vehicle Telematics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Off-Highway Vehicle Telematics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Off-Highway Vehicle Telematics Market value chain can benefit from the information contained in a comprehensive market report.
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