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Home Industry Industrial

Asia leads surge in global telematics in construction

FutureIoT Editors by FutureIoT Editors
December 26, 2024
Photo by ACE Cranes: https://www.pexels.com/photo/ace-f150ev-electric-crane-in-industrial-setting-29827402/

Photo by ACE Cranes: https://www.pexels.com/photo/ace-f150ev-electric-crane-in-industrial-setting-29827402/

As construction equipment manufacturers increasingly adopt telematics, the potential for enhanced operational efficiency, real-time monitoring, and improved asset management becomes evident. In Asia, where infrastructure development is rapidly expanding, the integration of telematics systems stands to revolutionise the construction industry, fostering greater productivity and innovation. As this trend continues, the region is set to lead the global charge in construction equipment telematics.

The latest research from Berg Insight forecasts the installed base of construction equipment (CE) OEM telematics systems worldwide to reach 12 million units by 2028, up from 6.8 million in 2023. This impressive growth, with a compound annual growth rate (CAGR) of 12.0%, signals a significant shift in how construction machinery is managed and monitored globally, particularly in Asia—a region poised to play a crucial role in this evolution.

The data highlights that the European market accounted for approximately 0.9 million active telematics systems by the end of 2023, while North America is slightly larger. However, the “Rest of World” category, which includes Asia, represents over half of the global installed base, showcasing the region's burgeoning construction sector and increasing adoption of telematics technologies.

Most major construction equipment OEMs have embraced telematics, either developing their systems in-house or partnering with third-party providers. Berg Insight principal analyst, Rickard Andersson, notes that, “OEM telematics systems are now commonly factory-installed as standard for heavier machines, and this trend is extending to compact equipment.” Caterpillar leads the global market, boasting over 1 million connected assets specifically in the construction segment. Its primary markets remain North America and Europe.

However, Asian manufacturers are not far behind. SANY and Komatsu, based in China and Japan respectively, are significant players in their domestic markets and have also made strides internationally. Komatsu, in particular, holds a substantial share of telematics units across North America, China, and Europe, reflecting its global ambition and competitiveness.

Other notable players include Volvo Construction Equipment from Sweden, and Chinese giants XCMG and Zoomlion. Japan's Hitachi Construction Machinery and the UK's JCB are also important contributors to the telematics landscape, with each having several hundred thousand active units. Additionally, companies like Deere & Company, HD Hyundai, and Doosan Bobcat are estimated to have crossed the 100,000-unit mark, signalling robust growth in this sector.

Related:  Smart city tech continues to reshape urban development
Tags: Berg Insighttelematics
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