Enjoy complimentary customisation on priority with our Enterprise License!
The material handling equipment telematics market share is expected to increase by USD 2.17 billion from 2021 to 2025, and the market's growth momentum will accelerate at a CAGR of 10.85%.
This material handling equipment telematics market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers material handling equipment telematics market segmentation by product (truck, earthmoving equipment, crane, tractor, and others) and geography (North America, Europe, APAC, and South America). The material handling equipment telematics market report also offers information on several market vendors, including 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, and Trackunit AS among others.
Download the Free Report Sample to Unlock the Material Handling Equipment Telematics Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a NEUTRAL impact on the market growth during and after COVID-19 era. The increase in construction activities is notably driving the material handling equipment telematics market growth, although factors such as issues related to data security may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the material handling equipment telematics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Material Handling Equipment Telematics Market Driver
The increase in construction activities is one of the key material handling equipment telematics market growth drivers. The growth of the construction industry across the globe has increased the demand for material handling equipment telematics. The industry plays a crucial role in increasing the economic growth of the country and the sustainability of the global economy. Governments play a major role in the growth of the construction industry worldwide. The government investments in the construction industry are expected to boost the growth of the industry across the globe, which would subsequently drive the demand for material handling equipment telematics during the forecast period.
Key Material Handling Equipment Telematics Market Trend
Increased digitization is one of the key material handling equipment telematics market trends. Rapid growth in the e-commerce industry, growing omnichannel distribution systems, and increasing consumer expectations have resulted in a rise in the number of orders processed per day. This has increased the pressure on buyers by increasing the limit for the distribution of products to end-users. To fulfill the requirement of customers, industries are working in multiple shifts. This has increased the integration of digitization to enable companies to gain information related to the operations of individual processes, thus maintaining connectivity with the working facilities. The application of digitization can help companies improve their reliability and productivity.The use of sensor technology and radio-frequency identification (RFID) is expected to drive product innovations in the global material handling equipment telematics market. RFID is a solution designed for user authentication and access control, which can help companies manage the risks and other liabilities associated with material handling equipment, such as trucks, cranes, and forklifts. Increasing digitization with the use of RFID and wireless technologies and the advances in material handling equipment are expected to support the growth of the global material handling equipment telematics market during the forecast period.
Key Material Handling Equipment Telematics Market Challenge
Issues related to data security are the key challenges for the market in focus is the major hindrance to the material handling equipment telematics market growth. The connectivity of material handling equipment with wide corporate networks helps companies monitor and manage the operations remotely, thus increasing the chances of cyberattacks. Companies that are engaged in sharing and accessing information with external vendors are more vulnerable to data breaches and cybersecurity issues. Factors such as altering installation settings and the location of assets, changes in production settings, malfunctioning in the installation of the equipment, and the theft of confidential data of companies may lead to physical damage to equipment and increase risks. Risks associated with the hacking of confidential data related to equipment and organizations are expected to reduce the adoption of telematics, limiting the material handling equipment telematics market growth during the forecast period.
This material handling equipment telematics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global material handling equipment telematics market as a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the material handling equipment telematics market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the material handling equipment telematics market encompasses successful business strategies deployed by the key vendors. The material handling equipment telematics market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The material handling equipment telematics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the material handling equipment telematics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global information technology (IT) spending market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.