off-highway vehicle telematics systems will reach 7.5 million units worldwide by 2023

#News(General) [ via IoTForIndiaGroup ]

Berg Insight estimates that the global installed base of active off-highway vehicle telematics systems reached 3.3 million units in 2018.
This includes connected units deployed on various off-highway vehicles across the construction, mining, agriculture and forestry sectors.

The construction sector accounts for the largest share, driven by OEM telematics systems offered by heavy equipment manufacturers. Agriculture and mining moreover each account for a similar number of connected units deployed on machines and vehicles used in agricultural and mining operations respectively. The remainder is represented by the forestry sector including telematics systems fitted to various forestry equipment.

Growing at a compound annual growth rate (CAGR) of 17.8 percent, the active installed base of off-highway vehicle telematics systems across all sectors is forecasted to reach 7.5 million units worldwide in 2023.

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