A new report published by Transparency Market Research anticipates that the global telematics market in construction vehicles will grow remarkably owing to the expanding construction industry and rising infrastructure investments. Moreover, increasing investment of private sector in infrastructure, which includes investments in road and airports construction, and expansion of the real-estate sector are also major factors predicted to fuel the demand for construction vehicles during the forecast period.
The use of telematics in construction vehicle is continuously increasing in order to achieve higher productivity of the vehicle. Telematics are increasingly being installed in smaller as well as large construction vehicles. The telematics system consists of GPS technology, on board diagnostics, and monitoring sensors, which are connected by cellular network that provides continuous insights on vehicle performance and operation. Telematics covers common points which include GPS location, fuel composition, idle times, and machine alerts in construction vehicles. Therefore, major manufacturers are installing telematics systems, as standard equipment, in order to achieve higher efficiency.
Telematics offers several benefits such as asset location, in which telematics data records machine activities on site, it also notifies maintenance and repair schedules by providing data points to vehicle owners. Telematics also measures the performance of the operator and reduces the threat of theft by using GPS technology. Consequently, the telematics market for construction vehicle is likely to expand during the forecast period.
The report has segmented the telematics market in construction vehicle based on technology type, sales channel, and region. In terms of technology type, the telematics market in construction vehicle is classified into cellular network and satellite. Cellular technology or satellite technology is implemented in construction vehicles according to surrounding conditions, customer preference, and government norms for radio usage. Companies such as Caterpillar and Volvo Construction Equipment provide cellular communication as well as satellite technology for vehicles.
To know more about each segment of the telematics market in construction vehicle and the overall market outlook, click here.
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