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The installed base of construction equipment OEM telematics systems to reach 9.6 million units worldwide by 2026

Berg Insight has in a new market research project found that the global installed base of active construction equipment (CE) OEM telematics systems reached 5.2 million units in 2021.

Growing at a compound annual growth rate (CAGR) of 13.0 percent, the active installed base is forecasted to reach 9.6 million units worldwide in 2026. This includes all CE telematics systems marketed by construction equipment OEMs, either developed in-house or provided by the CE manufacturers in partnership with third-party telematics players.

The European market accounted for around 0.8 million active construction equipment OEM telematics systems at the end of 2021. The North American market is estimated to be somewhat larger than the European. The Rest of World moreover represents more than half of the global installed base of CE telematics systems provided by construction equipment OEMs.

Most major construction equipment OEMs have introduced telematics offerings for their customers either independently or in collaboration with telematics partners.

Rickard Andersson, Principal Analyst, Berg Insight, said:

“OEM telematics systems are today commonly factory-installed as standard at least for heavier machines and increasingly also for compact equipment.”

Berg Insight ranks Caterpillar and Komatsu as the leading construction equipment OEMs in terms of the number of CE telematics systems deployed worldwide.

“Caterpillar was the first to surpass the milestone of 1 million connected assets in the construction segment”, continued Mr. Andersson.

He adds that Caterpillar and Komatsu are also by far the leading construction equipment manufacturers in terms of market share. Other major players with several hundred thousand active CE telematics units include SANY in China, Sweden-based Volvo Construction Equipment, JCB headquartered in the UK and Japan-based Hitachi Construction Machinery. Deere & Company, Hyundai Heavy Industries and Doosan Bobcat are also estimated to have reached the milestone of 100,000 units.

“Additional players having installed bases of construction equipment telematics units in the tens of thousands include Liebherr, Terex, JLG Industries, CNH Industrial and Tadano”, concluded Mr. Andersson.

Download report brochure: The Global Construction Equipment OEM Telematics Market

The post The installed base of construction equipment OEM telematics systems to reach 9.6 million units worldwide by 2026 appeared first on IoT Business News.

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