Construction Machinery Telematics Global Market 2024 To Reach $1.88 Billion By 2028 At Rate Of 12.8%

The Business Research Company’s Construction Machinery Telematics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 23, 2024 /EINPresswire.com/ — The construction machinery telematics market has experienced robust growth in recent years, expanding from $1.03 billion in 2023 to $1.16 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to increasing investments in infrastructure modernization, increasing the number of residential and commercial building activities, government regulations to improve safety across construction sites, increasing usage of excavators and other construction equipment in telematics, and increasing demand for operational efficiency.

What Is The Estimated Market Size Of The Global Construction Machinery Telematics Market And Its Annual Growth Rate?
The construction machinery telematics market is projected to continue its strong growth, reaching $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to rising construction activities, expansion of the real estate industry, rising preference for asset tracking solutions, growing investments in the digitalization of the construction sector, and increasing demand in the mining sector.

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Growth Driver Of The Construction Machinery Telematics Market
The rising construction activities are expected to propel the growth of the construction machinery telematics market going forward. Construction activities encompass a wide range of tasks involved in the planning, executing, and completing building projects. These activities are essential for creating residential, commercial, and industrial structures and infrastructure projects such as roads, bridges, and tunnels. The increasing construction activities are due to urbanization, infrastructure development, and population growth. Construction machinery telematics is extremely useful for improving efficiency, safety, and cost-savings across rising construction and infrastructure activities by providing real-time data on equipment location, performance, and utilization to optimize workflows, enhance maintenance, and increase safety.

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Which Market Players Are Driving The Construction Machinery Telematics Market Growth?
Key players in the construction machinery telematics market include Caterpillar Inc., Komatsu Ltd., Kubota Corporation, Mahindra & Mahindra, Hitachi Construction Machinery Co. Ltd., Deere & Company, Bosch Rexroth AG, Rosenberger Telematics GmbH, Trimble Inc., JLG Industries Inc., Topcon Corporation, EquipmentShare.com Inc., Samsara Inc., Geotab Inc., Teletrac Navman US Ltd., Inseego Corp., Mix Telematics Limited, Trackunit Corporation, Orbcomm Inc., ABAX Group AS, Tenna LLC, Hyundai Construction Equipment Co. Ltd., Cellutrak Canada Inc., J C Bamford Excavators Ltd., MachineMax.

What Are the Key Trends That Influence The Construction Machinery Telematics Market Size?
Major companies operating in the construction machinery telematics market are developing advanced solutions, such as new mixed-fleet telematics systems, to enhance equipment monitoring and management across diverse machinery brands. A mixed-fleet telematics system refers to technology that enables unified monitoring and management of various brands and construction machinery within a single platform.

How Is The Global Construction Machinery Telematics Market Segmented?
1) By Machinery Type: Crane, Excavator, Telescopic Handling, Loaders And Backhoes
2) By Component: Hardware, Software
3) By Telematic Feature: Tracking Source, Diagnostic Source, Other Telematics Features
4) By Sales Channel: Original Equipment Manufacturer (OEM), After market

Geographical Insights: North America Leading The Construction Machinery Telematics Market
North America was the largest region in the construction machinery telematics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction machinery telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Construction Machinery Telematics Market Definition
Construction machinery telematics refers to integrating telecommunications and informatics technology in construction equipment to monitor, collect, and transmit data about the machinery’s performance, location, usage, and condition. This technology enables real-time tracking and management of construction equipment, enhancing operational efficiency, maintenance, and safety.

Construction Machinery Telematics Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global construction machinery telematics market report covering trends, opportunities, strategies, and more
The Construction Machinery Telematics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on construction machinery telematics market size, construction machinery telematics market drivers and trends, construction machinery telematics market major players, construction machinery telematics competitors’ revenues, construction machinery telematics market positioning, and construction machinery telematics market growth across geographies. The construction machinery telematics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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