The global OHV telematics market is expected to grow at a significant CAGR during the forecast period (2024-2031). Artificial Intelligence (AI) and the Internet of Things (IoT) are expected to boost the growth of the market. The growth of the automobile sector, as well as the adoption of new technologies to improve component performance, has increased the demand for telematics solutions among end-users. The use of big data and other advanced technologies in off-highway vehicles has expanded as a result of the adoption of big data and other advanced technologies for greater connectivity and real-time data. The adoption of telematics technology is being accelerated by the demand for sophisticated OHV for numerous applications such as precision farming. The rise of telematics, combined with greater performance and reduced labor costs owing to AI and IoT, has boosted sales of OHVs equipped with modern telemetry systems. For instance, in January 2019, the Indian government released a new report on AIS 140 motor vehicles that requires the vehicles to be equipped with telematics technology.
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The increasing need for OHV safety and security without sacrificing cost or efficiency has led to the adoption of smart telematics systems that optimize machinery operation. The performance and production rate of machinery are ensured by an AI-based telematics system that locates real-time data according to locales to avoid any hazard at building sites or agricultural farms. Increased manufacture of off-road vehicles will enhance sales in the US. According to the International Organization of Motor Vehicle Manufacturers, the US produced 8,156,719 off-road vehicles in 2017. The deployment of telematics technologies in applications such as construction and mining equipment will enhance the market growth in the US. The adoption of telematics technology has improved as a result of the imposition of rigorous restrictions regarding the safety of drivers and workers owing to the breakdown of machinery and equipment.
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Market Coverage
- Segment Covered-
o By End-Use Application
o By Technology
o By Sales Channel
- Competitive Landscape: TomTom International BV, Harman International Industries Inc., and ORBCOMM Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global OHV Telematics Market Report Segmentation
By End-Use Application
- Construction
- Agriculture
- Mining
By Technology
- Cellular
- Satellite
Sales Channel
- OEM
- After Market
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