Dublin, Dec. 03, 2024 (GLOBE NEWSWIRE) — The “Material Handling Equipment Telematics – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Material Handling Equipment Telematics was estimated at US$7.5 Billion in 2023 and is projected to reach US$15.3 Billion by 2030, growing at a CAGR of 10.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the material handling equipment telematics market is driven by several factors, including the increasing demand for operational efficiency, the growing need for predictive maintenance, and the rising adoption of automation in logistics and manufacturing. As companies seek to reduce equipment downtime and extend the life of their machinery, telematics solutions are becoming essential for optimizing maintenance schedules and improving overall productivity.
Additionally, the rise of e-commerce and the expansion of global supply chains are placing greater emphasis on material handling efficiency, fueling the adoption of telematics to track and optimize equipment use. The integration of telematics with advanced technologies such as AI and IoT is also accelerating market growth, providing businesses with more accurate and actionable insights.
What Innovations Are Shaping the Material Handling Equipment Telematics Market?
The material handling equipment telematics market is benefiting from innovations in data analytics, predictive maintenance, and AI integration. Advanced telematics platforms now offer real-time diagnostics, predictive maintenance alerts, and even autonomous operation capabilities, significantly reducing downtime and operational costs.
AI-driven analytics are enabling companies to predict equipment failures before they occur, based on patterns in historical data, thus preventing costly breakdowns. Additionally, the integration of telematics with warehouse management systems (WMS) and enterprise resource planning (ERP) software is providing businesses with a comprehensive view of their operations, from material movement to equipment performance, allowing for more strategic decision-making.
How Do Market Segments Define the Growth of Material Handling Equipment Telematics?
Key technologies include GPS tracking, fleet management software, and IoT-based solutions, with IoT gaining popularity due to its ability to connect multiple devices and deliver detailed insights. Equipment types include forklifts, cranes, conveyor systems, and automated guided vehicles (AGVs), with forklifts accounting for the largest market share.
Applications range from logistics and warehousing to construction and manufacturing, with the logistics sector driving significant demand for real-time equipment monitoring. Geographically, North America and Europe dominate the market, while Asia-Pacific is experiencing rapid growth due to increased industrialization and investment in automation.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Material Handling Equipment Telematics Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Material Handling Equipment Telematics Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Material Handling Equipment Telematics market such as Cat Lift Trucks, Caterpillar, Clark, Doosan Corporation, Hiab and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $7.5 Billion |
| Forecasted Market Value (USD) by 2030 | $15.3 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Material Handling Equipment Telematics – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Fleet Management and Operational Efficiency Spurs Growth in Material Handling Equipment Telematics Market
- Technological Advancements in GPS and IoT-Enabled Telematics Solutions Strengthen Business Case for Adoption
- Growing Focus on Real-Time Data Monitoring and Predictive Maintenance Expands Addressable Market
- Expansion of Telematics in Warehousing and Logistics Fuels Market Growth
- Increasing Use of Telematics for Asset Tracking and Utilization Optimization Drives Demand
- Technological Innovations in AI and Machine Learning for Equipment Analytics Propel Market Expansion
- Rising Focus on Safety and Compliance in Material Handling Operations Strengthens Market Growth
- Growing Adoption of Telematics in Forklifts and Automated Guided Vehicles (AGVs) Expands Market Potential
- Focus on Reducing Downtime and Enhancing Fleet Productivity Drives Demand for Telematics
- Rising Use of Telematics in Construction, Mining, and Heavy Industries Expands Addressable Market
- Technological Advancements in Wireless Connectivity and Remote Monitoring Propel Market Growth
- Increasing Focus on Green Logistics and Energy Efficiency Expands Market for Material Handling Telematics
- Rising Demand for Telematics in Small and Medium-Sized Enterprises (SMEs) Expands Market Opportunities
FOCUS ON SELECT PLAYERS:Some of the 36 companies featured in this Material Handling Equipment Telematics market report include:
- Cat Lift Trucks
- Caterpillar
- Clark
- Doosan Corporation
- Hiab
- Hyundai Construction Equipment Co. Ltd
- JLG Industries
- Konecranes
- Mahindra Construction Equipment
- Mitsubishi Forklift Trucks
- MiX Telematics
- OBn itracs
- Orbcomm
- Teletrac Navman US Ltd.
- The Raymond Corporation
- TomTom International BV
- Toyota Material Handling USA
- Trackunit A/S
- Zonar Systems
- ZTR Control Systems LLC
For more information about this report visit https://www.researchandmarkets.com/r/xqsubb
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- Material Handling Equipment Telematics Market
