Report : Europe Off-Highway Vehicle Telematics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Connectivity Type (Cellular-Based OHV Telematics and Satellite-Based OHV Telematics), Application (Construction Industry OHV Telematics, Agriculture Industry OHV Telematics, Mining Industry OHV Telematics, and Others), and Technology (LTE-M, NB-IoT, Sigfox, and Others)
Construction Industry OHV telematics Segment to Dominate Europe Off-Highway Vehicle Telematics Market During 2021–2028
According to a new market research study on “Europe 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$ 313.21 million by 2028 from US$ 216.63 million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides trends prevailing in the Europe off-highway vehicle telematics market along with the drivers and restraints pertaining to the market growth. Increasing construction industry and stringent government policies to increase security and safety of off-highway vehicle are the major factor driving the growth of the Europe off-highway vehicle telematics market. However, uncertainty among fleet operators hinders the growth of Europe off-highway vehicle telematics market.
The Europe off-highway vehicle telematics market is segmented based on connectivity type, application, technology, and country. Based on connectivity type, the Europe 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 Europe 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 Europe 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 Europe 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 Europe off-highway vehicle telematics market is segmented into LTE-M, NB-IoT, Sigfox, and others. The LTE-M segment dominated the Europe off-highway vehicle telematics market in 2020 and NB-IoT segment is expected to be fastest growing during forecast period. Based on country, the Europe off-highway vehicle telematics market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.
ACTIA Group; Omnitracs, LLC; ORBCOMM Inc.; Stoneridge, Inc.; Teletrac Navman; TomTom; Telematics BV; Trackunit A/S; TTControl GmbH; Wacker Neuson SE; and Zonar Systems Inc. are among the leading companies in the Europe 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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