LONDON--(BUSINESS WIRE)--The material handling equipment telematics market is expected to grow by USD 2.17 billion, progressing at a CAGR of almost 11% during the forecast period. According to the report, the market will not be majorly impacted due to the spread of the COVID-19 pandemic. The growing focus on the improvement of infrastructure and the rise in the number of smart cities are increasing the adoption of material handling equipment telematics. In addition, factors such as increasing population and rapid urbanization will present immense opportunities for vendors during the forecast period.
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The increase in construction activities is one of the major factors propelling the market growth. The construction industry is growing rapidly across countries such as the US, China, and India. Governments in these countries are making significant investments in both the public and private sectors to construct new facilities and upgrade existing facilities. This has increased the demand for material handling equipment, which, in turn, is driving the demand for material handling equipment telematics.
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Material Handling Equipment Telematics Market: Product Landscape
Based on the product, the market witnessed an increased demand for telematics for trucks. This is due to the extensive use of trucks for the transportation of goods and materials in and out of storage areas, manufacturing locations, or loading docks. The market growth in the trucks segment will be significant in the trucks segment during the forecast period.
Material Handling Equipment Telematics Market: Geographic Landscape
By geography, North America is going to have a lucrative growth during the forecast period. About 43% of the market’s overall growth is expected to originate from North America. The rising demand for cranes and aerial work platforms in the construction and industrial sectors will be crucial in driving the growth of the material handling equipment telematics market in North America during the forecast period.
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Related Reports on Information Technology Include:
Global Commercial Telematics Market - Global commercial telematics market by product (solutions and services), platform (embedded systems, tethered systems, and smartphone integration systems), and geography (APAC, Europe, MEA, North America, and South America).
Global Automotive Software Market - Global automotive software market by product (application software, middleware, and operating system), application (safety system, infotainment and telematics, powertrain, and chassis), and geography (APAC, Europe, North America, South America, and MEA).
Companies Covered:
- Cargotec Corp.
- CLARK Material Handling Co.
- Continental AG
- Deere & Co.
- Doosan Infracore Co. Ltd.
- Geotab Inc.
- Hyundai Construction Equipment Co. Ltd.
- Oshkosh Corp.
- Robert Bosch GmbH
- Trackunit AS
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Truck - Market size and forecast 2019-2024
- Earthmoving equipment - Market size and forecast 2019-2024
- Crane - Market size and forecast 2019-2024
- Tractor - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Cargotec Corp.
- CLARK Material Handling Co.
- Continental AG
- Deere & Co.
- Doosan Infracore Co. Ltd.
- Geotab Inc.
- Hyundai Construction Equipment Co. Ltd.
- Oshkosh Corp.
- Robert Bosch GmbH
- Trackunit AS
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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