global off-highway vehicle (OHV) telematics market is expected to grow at a CAGR of around 12% during 2027
A comprehensive overview of the global off-highway vehicle (OHV) telematics market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the off-highway vehicle (OHV) telematics market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global off-highway vehicle (OHV) telematics market at regional and country levels. The global off-highway vehicle (OHV) telematics market is expected to grow at a CAGR of around 12% during the forecast period (2021-2027).
Market Overview
Off-highway vehicle (OHV) telematics refers to the integrated use of information and communication with telecommunications technology. OHV telematics finds applications in various sectors including agriculture, mining, constructions, etc. Telematics is the technology of receiving, sending, and storing information through the use of telecommunication devices. Telematics is typically used in road transport, electric engineering, road safety, and computer science. Telematics involves different technologies including global navigation satellite systems, integrated telecommunications and informatics, and the use of road vehicles with telematics.
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COVID-19 Impact
During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. The lockdown imposed in various regions led to complete shutdown of manufacturing facilities to reduce the spread of Covid-19 that had severely disrupted the supply chain. The Covid-19 pandemic had vastly different impacts on different segments of the IoT market. Many hardware installations were postponed as travel came to a standstill and capital expenditure budgets were frozen. Moreover, those allocated to operational expenditures, saw a smaller negative effect which in turn has directly impacted the market size of off-highway vehicle telematics market.
Global off-highway vehicle (OHV) telematics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily bifurcated into:
· Satellite
· Cellular
Based on technology, the off-highway vehicle (OHV) telematics market is segmented into satellite and cellular. Amongst technology, cellular caters considerable market share and expected to dominate in the forecast period as well. It is mainly owing to the increasing prevalence of devices using cellular network to transmit data escalating its growth.
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By Sales Channel, the market is mainly segmented into:
· Aftermarket
· OEM
Based on sales channel, the off-highway vehicle (OHV) telematics market is divided into OEM and Aftermarket. Currently, OEM acquired substantial market share and expected to have influential growth rate in the forecasted period as well.
By End-User, the market is mainly segmented into:
· Agriculture
· Construction
· Mining
· Others
Based on end-user, the market is classified into agriculture, construction, mining and others. Construction sector is catering extensive share in the market. Adoption of telematics in the construction segment is higher due to increasing demand for telematics technology from construction equipment rental companies.
Global Off-Highway Vehicle (OHV) Telematics Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, Spain, Italy, France, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of World
Based on the estimation, North America dominated the market predominantly because of the government orders that requires federal fleets to account for data in a fleet management information system (FMIS) to enhance the function of vehicle and also aims at reducing the carbon emission.
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The major players targeting the market includes:
· TomTom International BV
· Zonar Systems Inc.
· Harman International Industries Inc.
· Bridgestone Europe NV/SA
· Trackunit A/S
· ORBCOMM Inc.
· Omnitracs LLC
· Topcon Corporation
· Navman Wireless
· Wacker Neuson SE
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts’ sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global off-highway vehicle (OHV) telematics market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global off-highway vehicle (OHV) telematics market?
· Which factors are influencing global off-highway vehicle (OHV) telematics market over the forecast period?
· What are the global challenges, threats, and risks in the global off-highway vehicle (OHV) telematics market?
· Which factors are propelling and restraining the global off-highway vehicle (OHV) telematics market?
· What are the demanding global regions of the global off-highway vehicle (OHV) telematics market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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