Telematics refers to a combination of telecommunications and information technology with the automotive industry. It is a method of sending, receiving and storing information relating to objects such as vehicles – via telecommunication devices. Satellite-based tracking devices are also able to track the location of heavy equipment even when they are in remote areas like construction sites, mines, or oil & gas fields. With their cellular counterparts, satellite-based tracking devices can locate misplaced or stolen equipment or track equipment being used during off-hours or in unauthorized areas. Telematics in heavy equipment market fleet by optimizing usage, locating equipment, improving preventative maintenance, helping avoid theft, maximizing fuel efficiency, optimize asset utilization, improve preventative maintenance, gain complete fleet visibility and enhance operational efficiency.
Government regulations towards telematics to ensure safety is the key driving factor for the growth of the global telematics in heavy equipment market. In addition, road infrastructure constraints, increasing demand for connectivity at low cost are other driving factors expected to fuel growth of the market over the forecast period. However, increasing threat of cyber-attacks and security issues are anticipated to hinder the growth of global telematics in heavy equipment market growth in the forecasted period.
Some of the trending factors in the market is the adoption of big data in telematics. It can reduce material costs and improve supply chain, increase product yield, as well as improve product quality and safety. Also, integration of telematics with Application Platform Interface (API) which can streamline data gathering and gain quicker insights is another trending factor.
The global telematics in heavy equipment market report has been segmented on the basis of application type, technology type, and region. On the basis of region, the global telematics in heavy equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Do Inquiry of the Report Here: https://marketresearch.biz/report/telematics-heavy-equipment-market/#inquiry
Currently, the market in North America dominates the global telematics in heavy equipment market in terms of revenue. The market in Asia Pacific is projected to have fastest growth during the forecast period, owing to increasing adoption for telematics which is expected to boost growth of the global telematics in heavy equipment market.
Prominent players in the global telematics in heavy equipment market include, Trimble Inc., MiX Telematics, Daimler FleetBoard GmbH , Zonar Systems, Inc., Telogis, Masternaut Limited, Teletrac Navman Group, Element Fleet Management Corp., DPL Telematics and TomTom N.V.