Telematics in Heavy Equipment Market: Rising Penetration of Telematics in Construction Sector to Spell Growth for Market
The vendor landscape of the global telematics in heavy equipment market is becoming increasingly competitive due to the rising number of companies and the rapid pace of technological advancement in the field of telematics. In September 2017, Geotab, a telematics company launched a new telematics device “Go8,” with connectivity on LTE networks, with big data, and advanced GPS technology. Introduction of such innovative products is expected to help companies to acquire a larger share in the growth opportunities offered by the market. Some of the leading companies in the market are Navman Group, Heavy Construction Systems Specialists Inc., Geotab Inc., Topcon Corporation, Zonar Systems Inc., Teletrac, Trimble Inc., LoJack Corporation, ACTIA Group, and The Morey Corporation. According to the report, the global telematics in heavy equipment market is expected to rise to a valuation of US$1,743.8 mn by 2025, registering an impressive CAGR of 11.5% from 2017 to 2025. The globa...