Telematics combines GPS technology, monitoring sensors, and on-board diagnostics that track, log and report data via cellular networks to provide insight into the operation and performance of expensive construction equipment. Data collected is usually accessed through a Cloud based system, providing valuable information on the machine systems. Common data includes the location, idle times, machine alerts and fuel consumption.

Companies that use telematics for construction are enjoying fantastic benefits, including a boost in productivity and lower operational costs. The first benefit of telematics for construction is asset allocation. Telematics shows how much each piece of equipment is being used on active sites, helping to identify if any equipment is better off being reallocated to a location where it will be put to use. Or you may identify that certain equipment is being overused as you don't have enough of this type of equipment onsite. You can quickly identify which assets to allocate to keep the project on schedule.

Telematics can help you identify how your equipment is being used and over time, the data helps you identify any underused assets or which assets you need to invest in. Adjusting your fleet to meet your needs can be cost effective and convenient.

Telematics provides the benefits of easy to manage maintenance and repair schedules. Sensors and onboard diagnostics help to capture and report on the condition of the system including fault codes and fuel consumption. This means that you can set up an effective maintenance program to carry out preventative maintenance to save time and money in the long run. Identifying any problems with equipment can extend the lifespan and save on repair and labor costs moving forward.

Another benefit of telematics is that it assists in improving operator efficiency. These systems help to identify and stop bad habits, such as long idle times, speeding, erratic movements and overloading. Monitoring the data helps to reduce the risk of accidents, ensuring equipment isn't mistreated and that operators work according to the rules and regulations to save money and avoid unnecessary repairs on equipment in the long run.

A great benefit of telematics for construction equipment is that it reduces the risk of theft. You are notified when any equipment is removed from the job site. You can use a fence, which can send an alert when it is used outside working hours. Some systems enable you to shut them down when being used without authority. The benefit is you can track and locate equipment with ease, providing authorities the necessary data to improve recovery.

Of course one of the many reasons why many companies enjoy telematics for construction equipment is how it reduces consumption of fuel. Fuel consumption is one of the main costs for construction companies and also one of the biggest savings opportunities that telematics provides. Monitoring idling times can help you identify machines that are left on and not working, wasting fuel unnecessarily.

Another benefit of telematics for construction equipment is the savings on insurance premiums your company will enjoy. Many insurance providers will reduce the costs of your premiums, offering welcome discounts when you telematics. It is also beneficial when it comes to job estimates as you can use the data to help create accurate quotes, providing you with machine hours, fuel usage and more to ensure you enjoy a profit when working on a construction site.

Do your research, review the different telematic solutions to find the perfect match that will benefit your business moving forward.

Commercial fleets are benefiting from telematic systems. This technology is often used in combination with vehicle safety products. Many vehicle safety products rely on telematics to provide an extensive range of welcome benefits for your business. Understanding telematics can help you see how it can be used effectively with your commercial vehicle management.

The major benefit of telematics for your business is savings on fuel costs, while increasing operational efficiency. Fuel has become expensive and telematic equipment offers a way to understand your vehicle’s consumption. You can identify how to streamline journeys and what can be done to reduce costs, such as driver behavior improvements. This can help you save money and boost productivity.

With telematics for your business, you have the ability to plan effectively. You can ensure your schedules run according to plan and you can coordinate your drivers with ease. The system offers an exact location, accurate speed of vehicles and more. You can create time sheets that ensure your customers remain satisfied, drivers remain happy, and you boost productivity in the long run.

Monitoring driver behavior can be a major benefit, especially with drivers being in the public eye. How they drive reflects on your business. Telematics will enable you to monitor each vehicle on its journey so that you can ensure your drivers are driving responsibility and not taking detours for their own personal gain.

Telematics mustn't be seen as a spying device, but rather an opportunity to help drivers improve their driving by providing feedback on their behavior on the roads and how they can contribute to the company's image.

In addition to this, preventative maintenance is something that every business owner should be focusing on to save themselves money moving forward. Telematics is a great way to ensure you put preventative maintenance plans in place. You can automate services based on odometer readings and the engine run time. The system offers valuable information in real time so you can make informed maintenance decisions to reduce vehicle downtime and ensure that all vehicles run at optimum.

Further, telematics offers improved security and safety for drivers and your vehicles. These are useful systems that can help you track down your vehicles in real time, wherever they are. Global telematics systems even enable you to locate around the world. This helps to reduce the risk of theft, with the opportunity to easily recover any vehicles that are stolen.

The final benefit of telematics for your business is increasing corporate social responsibility by reducing fuel emissions and minimizing your environmental impact. This can help you improve your green credentials with your customers, which can be very beneficial in securing a loyal customer base.

Overall, telematics has proven itself as a useful tool to provide business owners with real time data that can save money, time and valuable resources. Telematics helps you focus on the daily operations of your business, knowing your fleet is managed effectively and you have a finger on the pulse at all times.

When it comes to telematics selection, you want to choose a manufacturer with extensive experience and proven track record. Do your research to learn about the different manufacturers and their host of telematics products and systems. Review them in detail using independent review sites and online forums to create a short list of companies you feel will provide you with the telematics benefits your business deserves.

Market Research Future published a research report on “Telematics System Market Research Report- Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Telematics system Market - Overview

Technology advancement in every industry sector has transformed the functionalities of a machine to the next level. The driving factor of emerging digital technology has make communication with machines possible and is further boosting its growth in coming years. Artificial intelligence is one of the fastest growing technology in this area which is developing its roots in transportation, automation, construction and industrial applications. Artificial intelligence with support of machine learning is one of the major driving force behind emergence of self-driving and connected cars in the automotive segment. Image recognition, telematics, and GPS and GNSS are some of the features engrossed with self-driving cars. Many major companies such as Harman, Samsung, LG and AT&T are investing in developing innovative telematics solution for their customers.

The major growth driver of Telematics system Market includes rising demand for high-Telematics, increasing adoption of renewable energy sources such as electric vehicles, and growing ICT and telecommunication sector among others. However, high initial cost and time consuming manufacturing process are the major factors which are hindering the growth of Telematics Market

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Key Players:

Some of the major players in Telematics system Market include Verizon Communication Inc.(U.S.), HARMAN International Industries Inc.(U.S.), Tom-Tom International BV (Netherland), AT&T (U.S.), Vodafone Group Plc. (U.K.), Ford Motor Company (U.S.), BMW Group (Germany), Telefonica SA (Spain), Mix Telematics (South Africa), and Trimble Navigation Ltd. (U.S.) among others.

Other vendors include Tantalum Corporation (U.K), InfoTrack Telematics (Japan), Agero Inc. (U.S.), NXP Semiconductors (the Netherlands), Smart Telematics Ltd, BOX telematics limited (U.K), AutoVision Wireless Inc (Canada), Ingenie (U.K), Calamp Corp. (U.S.), Vista Equity Partners (U.S.), ClickSoftware Technologies Ltd. (U.S.), ORBCOMM Inc. (U.S.) among others.

Telematics Global Market- Segmentation

The Telematics Market can be classified into 4 key segments as follows:

Segmentation by Technology: embedded, portable and hybrid among others.

Segmentation by Services: navigation, diagnostic, on-demand infotainment and maintenance and security among others.

Segmentation by Application: commercial, automotive, IT, insurance, telecommunication, healthcare and government among others.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Telematics Global Market- Regional Analysis

The global Telematics (BIM) market is estimated to grow at a promising rate in upcoming years. North America has witnessed to dominate the market due to presence of established automotive industry and growing telecommunication sector in the region. Also, high demand for premium cars with advanced safety and comfort features has driven high growth in telematics market of North America region. Followed by Europe which is the leading region for automotive manufacturing and is increasing deployment of advanced telematics features in the end product. Asia-Pacific is expected to be the fastest growing region due to increasing initiatives by government and offering funding for electric vehicle manufacturers and increasing adoption of electric vehicle by consumers.

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TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat Of New Entrants

4.1.2 Bargaining Power Of Buyers

4.1.3 Threat Of Substitutes

4.1.4 Segment Rivalry

4.2 Value Chain/Supply Chain Of Global Telematics Market

Continued…

Know More about this Report @ https://www.marketwatch.com/press-release/telematics-market-size-share-research-analysis-business-growth-segmentation-opportunities-development-status-competitive-landscape-and-industry-expansion-strategies-2023-2019-05-29

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