Off-Highway Vehicle (OHV) Telematics Market

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2. OFF-HIGHWAY VEHICLE (OHV) TELEMATICS MARKET ANALYSIS Off-Highway Vehicle (OHV) Telematics  Market, By End-use Application (Construction, Agriculture and Mining) by Technology (Cellular and Satellite), by Sales Channel (OEM and Aftermarket), and by Region (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview The global off-highway Vehicle (OHV) telematics market is estimated to account for US$ 116.3 Mn in terms of value in 2019 and is expected to grow at a CAGR of 13.3% during the forecasted period 2019-27. Market Dynamics Drivers • Gradual growth of construction industry after global economic recession is expected to drive growth of the global off-highway vehicle (OHV) telematics market during the forecast period • Presence of regulatory policies to increase security and safety of off-highway vehicles is expected to propel the global off-high vehicle (OHV) telematics market growth over the forecast period

4. Figure 1. Market Drivers

5. Market Dynamics Restraints • Growing reluctance of end users to change business practices is expected to restrain growth of the global off-high vehicle (OHV) telematics market during the forecast period • Lack of training for the use in heavy equipment is expected to hinder the global off-high vehicle (OHV) telematics market growth over the forecast period

6. Market Opportunities • Significant market potential in emerging economies such as India and China • Rising integration of Internet of Things (IoT) can provide major business opportunities

7. Figure 2. Off Highways Market Opportunities

8. Figure 3: Market Share

9. Market Trends • Rising partnership and collaboration activities among OEMs and telematics providers • Growing adoption of telematics by equipment rental companies

10. Competitive Section Key players operating in the global off-high vehicle (OHV) telematics market are TomTom International BV, Zonar Systems Inc., Harman International Industries Inc., Bridgestone Europe NV/SA, Trackunit A/S, ORBCOMM Inc., Omnitracs LLC, Topcon Corporation, Navman Wireless, Wacker Neuson SE, and MiX Telematics Limited. • Key Developments Key companies in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in April 2019, Bridgestone Europe NV/SA, a subsidiary of Bridgestone Corporation, acquired TomTom Telematics, a subsidiary of TomTom International BV for US$ 1 billion.

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