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Construction Equipment Tracking Market Share

Report ID: GMI11283
Published Date: Sep 2024
Report Format: PDF

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Construction Equipment Tracking Market Share

John Deere, Caterpillar Inc., and Verizon Connect held a significant market share of over 20% in 2023. John Deere utilizes its JDLink telematics system to provide advanced tracking and fleet management solutions. By leveraging data analytics and remote diagnostics, the company enhances equipment uptime and productivity. Additionally, Deere focuses on user-friendly interfaces and seamless integration with other systems, optimizing fleet management and maintenance for construction businesses.

Caterpillar Inc. employs its Cat® Product Link™ telematics solution to offer real-time equipment tracking, fuel management, and maintenance alerts. The company uses AI-driven analytics to predict equipment needs, reduce downtime, and improve fleet performance. Caterpillar's strategy includes expanding connectivity features and enhancing customer support to drive the adoption of its tracking solutions.

Verizon Connect delivers comprehensive fleet management and equipment tracking solutions through its GPS-based systems. The company emphasizes real-time visibility, maintenance scheduling, and data-driven insights to enhance operational efficiency. Verizon Connect’s strategy involves continuous software enhancements, integration with other IoT devices, and offering customizable solutions to meet the specific needs of construction businesses.

Construction Equipment Tracking Market Companies

Major players operating in the construction equipment tracking industry are

John Deere
Caterpillar Inc.
Verizon Connect
Hitachi Construction Machinery Co., Ltd.
Honeywell International Inc.
Komatsu Ltd.
Topcon Positioning Systems, Inc.
Robert Bosch GmbH
Trimble Inc.
Doosan Infracore Co., Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of construction equipment tracking was worth over USD 1.7 billion in 2023 and is projected to grow at over 9.8% CAGR between 2024 and 2032, owing to rapid urbanization and infrastructure development.

The GPS tracking segment in the construction equipment tracking market held over 42% share in 2023 and is expected to exceed USD 1.7 billion by 2032 due to its widespread adoption and effectiveness in real-time location monitoring.

North America construction equipment tracking market held over 37% share in 2023 and is expected to exceed USD 1.5 billion by 2032, driven by early technology adoption and robust infrastructure development.

John Deere, Caterpillar Inc., Verizon Connect, Hitachi Construction Machinery Co., Ltd., Honeywell International Inc., Komatsu Ltd., Topcon Positioning Systems, Inc., Robert Bosch GmbH, and Trimble Inc. among others.