Construction Industry OHV Telematics Segment to Dominate SAM Off-Highway Vehicle Telematics Market During 2021–2028
According to The Insight Partners market research study on “SAM 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$ 38.98 million by 2028 from US$ 32.54 million in 2021. The market is estimated to grow at a CAGR of 2.6% from 2021 to 2028. The report provides trends prevailing in the SAM off-highway vehicle telematics market along with the drivers and restraints pertaining to the market growth. Rising integration of IoT and technological advancements in off-highway vehicle telematics are the major factor driving the growth of the SAM off-highway vehicle telematics market. However, growing uncertainty among fleet operators hinders the growth of SAM off-highway vehicle telematics market.
The SAM off-highway vehicle telematics market is segmented based on connectivity type, application, technology, and country. Based on connectivity type, the SAM 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 SAM 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 SAM 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 SAM 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 SAM off-highway vehicle telematics market is segmented into LTE-M, NB-IoT, Sigfox, and others. The LTE-M segment dominated the SAM off-highway vehicle telematics market in 2020 and NB-IoT segment is expected to be fastest growing during forecast period. Based on country, the SAM off-highway vehicle telematics market is segmented into Brazil, Argentina, and rest of SAM.
ACTIA Group; Omnitracs, LLC; ORBCOMM Inc.; Stoneridge, Inc.; Teletrac Navman; TomTom; Telematics BV; TTControl GmbH; Wacker Neuson SE; and Zonar Systems Inc. are among the leading companies in the SAM 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 2020, Zonar Announces Partnership with Navistar. Zonar is a leading company in telematics solutions, and Navistar is a leading company in producing brand commercial trucks, proprietary diesel engines, and IC Bus® brand school and commercial buses. Both companies have announced their partnership and now will work together to bring powerfully OEM qualified fleet telematics solutions to customers.
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