Berg Insight, a self-described “leading Internet of Things analyst firm,” says that the installed base of active construction equipment OEM telematics systems will grow at a compound annual growth rate of 19.2 percent and reach an estimated 4.9 million units worldwide in 2022.
Berg says this estimate includes both OEM in-house and third-party telematics systems.
The firm says that the European market had almost 0.5 million active construction equipment OEM telematics systems at the end of 2017, representing roughly 25 percent of an estimated 2-million-plus unit total. Berg says the North American market is estimated to be “slightly larger” than the European market but cited no specific number. The company did say that “more than half” of telematics-equipped units were sold in markets outside of Europe and North America during 2017.
According to Berg, Caterpillar and Komatsu lead other OEMs in installed telematics, accounting for more than one million current units. Caterpillar’s largest markets for its telematics offerings are in North America and Europe, while Komatsu has the largest share of telematic units in Japan and China, followed by North America and Europe.
The remaining top five players include Hitachi, JCB and Volvo, which have all surpassed the 100,000-unit milestone, Berg says. Other top telematics companies are Deere and Hyundai, says the company.