Cellular-Based OHV telematics Segment to Dominate North America Off-Highway Vehicle Telematics Market During 2021–2028
According to The Insight Partners market research study on “North America Off-Highway Vehicle Telematics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Connectivity Type, Application, and Technology” is expected to reach US$ 465.03 million by 2028 from US$ 313.66 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the North America off-highway vehicle telematics market along with the drivers and restraints pertaining to the market growth. Rising construction industry and strict government policies to increase security and safety of off-highway vehicle are the major factor driving the growth of the North America off-highway vehicle telematics market. However, rising uncertainty among fleet operators hinders the growth of North America off-highway vehicle telematics market.
The North America off-highway vehicle telematics market is segmented based on connectivity type, application, technology, and country. Based on connectivity type, the North America off-highway vehicle telematics market is segmented into cellular-based OHV telematics and satellite-based OHV telematics. The cellular-based OHV telematics segment dominated the North America off-highway vehicle telematics market in 2020 and satellite-based OHV telematics segment is expected to be fastest growing during forecast period. In terms of application, the North America off-highway vehicle telematics 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 North America off-highway vehicle telematics market in 2020 and agriculture industry OHV telematics segment is expected to be fastest growing during forecast period. Based on technology, the North America off-highway vehicle telematics market is segmented into LTE-M, NB-IoT, Sigfox, and others. The LTE-M segment dominated the North America off-highway vehicle telematics market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the North America off-highway vehicle telematics market is segmented into the US, Canada, and Mexico.
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 among the leading companies in the North America off-highway vehicle telematics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, Stoneridge and Valens Semiconductor Announce their Partnership. Stoneridge and Valens semiconductor are both industry giants, as now they have formed partnerships for enhancing Tractor-Trailer Safety Through Advanced Connectivity and Vision Solutions.
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