11.02% CAGR in Material Handling Equipment Telematics Market | Cargotec Corp. and CLARK Material Handling Co. Among Key Vendors | Technavio

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NEW YORK, Dec. 2, 2021 /PRNewswire/ — The material handling equipment telematics market is expected to be dominated by North America during the forecast period. According to Technavio, the market value is anticipated to grow by USD 2.41 bn from 2020 to 2025. The growth momentum of the market is expected to accelerate at a CAGR of 11.02% during this period.

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Market Dynamics

Factors such as increase in construction activities and increasing government regulations for safety and security will be crucial in driving the growth of the material handling equipment telematics market. However, the issues related to data security and the increasing initial setup cost will restrict the market growth.

Company Profiles

The material handling equipment telematics market report covers information on the product launches, sustainability, and prospects of leading vendors. A few of these vendors include Cargotec Corp., CLARK Material Handling Co., Continental AG, Deere and Co., Doosan Infracore Co. Ltd., Geotab Inc., Hyundai Motor Co., Oshkosh Corp., Robert Bosch GmbH, and Trackunit AS.

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Competitive Analysis

The competitive scenario provided in the material h andling equipment telematics market report examines, assesses, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the last few years, product innovations, new product launches, growth strategies, investments, growth in market share, etc.

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Market Segmentation

• By product, the market is classified into truck, earthmoving equipment, crane, tractor, and others. The truck segment is expected to contribute the highest share of the market.
• By geography, the market is classified into North America, Europe, APAC, South America, and MEA. North America will have the largest share of the market, with the US being the key country.

Product Segment Analysis

The market growth share of the truck segment of the material handling equipment telematics market is driven by various factors. Trucks play a vital role in moving materials from one place to another. These industrial trucks are extensively used for the transportation of goods and materials in and out of manufacturing locations, storage areas, and loading docks. Some of the reasons that support the use of telematics in trucks are reduced operating costs, improved fleet security, and control.

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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