Global Material Handling Equipment Telematics Market was valued US$ XX Bn in 2019 and is expected to reach XX Bn by 2027, at a CAGR of 11.11 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Material handling equipment telematics solutions enabling operators to monitor and manage fleet operations in real time to enhance cost savings, productivity, and customer satisfaction.
With the recent innovation in the technology sector, the sensor can be embedded in the equipment, which is used to transmit real-time data and collect a variety of information regarding equipment's location, fuel consumption, and distance traveled is expected to increase the demand for telematics solutions in the material handling equipment. Telematics solutions offer the vast set of benefits includes driver-alert control systems and collision warning systems in vehicles, which is expected to boom the global material handling equipment telematics market.
Enhanced equipment performance and introduction of innovative features like driver monitoring, analytical equipment maintenance, fuel management, and fleet analytics are expected to offer cost benefits. These benefits are expected to increase the adoption of material handling equipment during the forecast period(2018-2026). The future scope of enlargement of the global material handling equipment telematics market will need to reduce costs and increase productivity in the extremely competitive market.
On the other hand, some of the factors like lack of adequate network infrastructure, mainly in developing economies is limiting the growth in the global material handling equipment telematics market Additionally, concerns about cyber-attacks and data-loss can also hamper the global material handling equipment telematics market growth.
The truck telematics segment is expected to hold a significant share in the global material handling equipment telematics market. An increasing need for the goods transportation from the e-commerce sector and growing development in road infrastructure are some of the prominent factors, which are expected to contribute the US $XX Bn share in the global material handling equipment telematics market during the forecast period(2018-2026).
Increasing installation of telematics devices in trucks is helping to a collection of data pertaining to aspects like driver behavior, vehicle location, and engine diagnostics, which can open new opportunities for key players in the material handling equipment telematics market. The technology advancement in the installation of the variety of earthmoving equipment like articulated wheel loaders, road work vehicles, and spreaders are expected to boost the job-site productivity. These factors are expected to boost the growth in the global material handling equipment telematics market.
North America region is expected to dominate the global material handling equipment telematics market. The demand for the material handling equipment is increasing, thanks to the presence of technologically-advanced firms, which make investments for the development of autonomous vehicles technologies, networking solutions, and IoT-enabled services. Availability of the robust IT infrastructure, high-speed networks, and growing adoption of new technologies are expected to contribute the maximum share in the material handling equipment telematics market in this region. On the other hand, the Asia Pacific region is expected to share significant growth in the global material handling equipment telematics market owing to the growing manufacturing activities in the developing countries.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global material handling equipment telematics market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global material handling equipment telematics market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of Global Material Handling Equipment Telematics Market
Global Material Handling Equipment Telematics Market, By Product
• Aerial Work Platform
o Truck Mounted Forklift
o Articulated Forklift
o Side Loader
o Port Crane
o Truck mounted Crane
• Earthmoving Equipment
o Articulated Wheel Loader
o Farm Implements
o Road Work Vehicle
o Self-propelling AG machine
o Military Vehicle
o Terminal Tractor
o Tow Tractor
Global Material Handling Equipment Telematics Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key players operating in Global Material Handling Equipment Telematics Market
• TomTom International BV
• Teletrac Navman US Ltd.
• Zonar Systems
• Mitsubishi Forklift Trucks
• Cat Lift Trucks
• Trackunit A/S
• Doosan Corporation
• The Raymond Corporation
• Hyundai Construction Equipment Co. Ltd
• Toyota Material Handling USA
• JLG Industries
• ZTR Control Systems LLC.
• Mahindra Construction Equipment
• MiX Telematics
• OBn itracs
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