Construction equipment telematics market set for strong growth

Global, October 1, 2025

News Summary

Analysts forecast a substantial expansion in the construction equipment telematics market, projecting growth from USD 6.92 billion to USD 20.59 billion over the forecast period, implying roughly an 11.5% CAGR. Fleet and rental segments lead demand, with fleet holding the largest share and rental accounting for nearly half of industry use. Hardware and OEM channels dominate revenues, while top manufacturers together control a majority of the market. Rising adoption of connected systems, predictive maintenance, fuel-efficiency improvements and electrification are driving telematics uptake across construction, mining and materials handling operations worldwide.

Construction equipment telematics market seen growing from USD 6.92 billion in 2024 to USD 20.59 billion by 2034

The global construction equipment telematics market was valued at USD 6.92 billion in 2024 (Global Market Insights Inc.). Analysts in one major forecast expect the market to grow to USD 20.59 billion by 2034, with an implied CAGR of 11.5% from 2025 to 2034. These headline numbers point to strong demand for connected systems on construction machines that track location, fuel use, health, and productivity.

Key market segments and shares

Market breakdowns in the report show equipment class split into Heavy, Fleet, Medium, and Light categories. The Fleet segment dominated around 80% share of the construction equipment telematics market in 2024 (Global Market Insights Inc.). The same source says the Fleet segment is expected to grow at a CAGR of over 11% from 2025 to 2034 (Global Market Insights Inc.).

By industry use, the market is divided into rental, contractor, heavy civil, and vertical construction. The rental segment dominated the market with 45% share in 2024 (Global Market Insights Inc.). That segment is expected to grow at a CAGR of 12% between 2025 and 2034 (Global Market Insights Inc.).

Product split shows hardware and software lines. The hardware segment dominated the market and was valued at USD 4.95 billion in 2024 (Global Market Insights Inc.). For sales channels, the market is split between OEM and Aftermarket. The OEM segment dominated the market and was valued at USD 4.8 billion in 2024 (Global Market Insights Inc.).

Regional picture and national tallies

In North America, the U.S. dominated the North America construction equipment telematics market with around 89% market share in 2024 (Global Market Insights Inc.). The U.S. construction equipment telematics market revenue was USD 2.15 billion in 2024 (Global Market Insights Inc.).

Several country markets are flagged for strong growth prospects between 2025 and 2034: Germany’s construction equipment telematics market is expected to grow tremendously between 2025 and 2034 (Global Market Insights Inc.). China’s construction equipment telematics market is expected to experience strong growth during 2025–2034 (Global Market Insights Inc.). Brazil’s construction equipment telematics market is expected to experience significant growth between 2025 and 2034 (Global Market Insights Inc.). The UAE construction equipment telematics market is expected to experience high growth between 2025 and 2034 (Global Market Insights Inc.).

Market concentration and manufacturers

Market concentration is notable: seven leading players together hold a large share. The top 7 companies in the market named are: Caterpillar, KOMATSU (Komtrax), Verizon Connect, Geotab, MiX Telematics, Volvo CE, and TOPCON (Global Market Insights Inc.). Those top 7 companies hold around 55% of the market share in 2024 (Global Market Insights Inc.).

The underlying report listed in the material provides granular breakdowns by equipment class, industry, product, technology, customer, GAR, and sales channel, covering multiple regions and countries with a base year of 2024. The report covers 30 companies, contains 150 tables & figures, covers 24 countries, and is 300 pages long (Global Market Insights Inc.).

Other sources and technology context

Alongside this forecast, other market pieces in the material describe related but different measures. One report notes the broader construction equipment market (not telematics) was estimated at US$183.6 billion in 2024 and is projected to reach US$239.5 billion by 2030 with a CAGR of 4.5% from 2024 to 2030 (ResearchAndMarkets.com).

Technology and product notes gathered in the material highlight ongoing improvements in fuel efficiency, automation, and operator safety, and the rise of hybrid and electric powertrains and IoT features such as remote control, predictive maintenance, and real-time performance monitoring. These trends are cited as drivers that make telematics more valuable in operations such as infrastructure development, residential and commercial builds, mining, and material handling.

Supporting data on installed base and OEM activity

Industry monitoring data in the material reports that the active installed base of construction equipment telematics systems will grow at a compound annual growth rate (CAGR) of 12.0 percent to reach 12.1 million units worldwide in 2028 (Berg Insight). The same source says Caterpillar leads OEM deployments with well over 1 million connected assets in the construction equipment segment specifically (Berg Insight / Rickard Andersson quote). Several other OEMs are cited with large installed bases, ranging from several hundred thousand units to tens of thousands, and OEM telematics commonly come factory-installed on heavier machines and increasingly on compact equipment.

Conflicting figures in source material

The gathered material contains multiple, conflicting market-size figures from different named sources: the Global Market Insights forecast cited above, another piece that states the global construction equipment telematics market was valued at over USD 1.29 billion in 2024 and projects a CAGR of 14.5% through 2035, and other coverage with different time frames and totals. Readers should note the original material presents these differing estimates side by side.

What this means for contractors and fleets

For contractors and fleet managers, the key takeaway is simple: telematics hardware and connected services are already a large share of spending in the telematics niche and are expected to keep growing. Hardware measured in one forecast accounted for most of the 2024 telematics spend, while OEM channels captured the bigger share of sales that year. Growing machine connectivity supports maintenance planning, fuel management, utilization tracking, and features that tie into automation and operator guidance.

Report availability and notes

The material mentions report availability, reference attachments, and repeated prompts to download PDF materials. One press entry added a strategic business report on construction equipment to a report catalog in late 2025 and listed features such as key insights, scope, and market topics covered.

FAQ

{
“@context”: “https://schema.org”,
“@type”: “FAQPage”,
“mainEntity”: [
{
“@type”: “Question”,
“name”: “What was the value of the global construction equipment telematics market in 2024?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The global construction equipment telematics market was valued at USD 6.92 billion in 2024 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “What is the forecast for the telematics market to 2034?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The market is expected to grow from USD 7.76 billion in 2025 to USD 20.59 billion in 2034 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “What CAGR is implied by that forecast?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The implied CAGR for that Global Market Insights forecast is 11.5% from 2025 to 2034 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “Which segment had the largest share in 2024?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The Fleet segment dominated around 80% share of the construction equipment telematics market in 2024 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “Which industry segment led the market in 2024?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The rental segment dominated the market with 45% share in 2024 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “How large was the hardware portion of the market in 2024?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The hardware segment dominated the market and was valued at USD 4.95 billion in 2024 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “Which sales channel led the market in 2024?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The OEM segment dominated the market and was valued at USD 4.8 billion in 2024 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “What was the U.S. market size in 2024?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The U.S. construction equipment telematics market revenue was USD 2.15 billion in 2024 (Global Market Insights Inc.).”
}
},
{
“@type”: “Question”,
“name”: “Are there differing figures in the source material?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The provided text contains multiple, conflicting market-size figures from different named sources: e.g., Global Market Insights reports USD 6.92B (2024) with a 11.5% CAGR to 2034, ResearchAndMarkets reports overall construction equipment market at USD 183.6B (2024) to USD 239.5B (2030), and Volvo CE–style content cites telematics market at over USD 1.29B (2024) with a 14.5% CAGR to 2035. Each of these figures is taken verbatim from the respective sections in the provided material.”
}
}
]
}

Key features at a glance

Deeper Dive: News & Info About This Topic

Additional Resources

• Global Market Insights — Construction Equipment Telematics Market
• Wikipedia: Telematics
• GlobeNewswire — Construction Equipment Strategic Industry Report 2025–2030
• Google Search: Construction Equipment Telematics Strategic Industry Report 2025-2030
• MarketDataForecast — North America Construction Equipment Market
• Google Scholar: North America construction equipment market
• Volvo CE — Smart Machines, Smarter Cities (Asia)
• Encyclopedia Britannica: Volvo connectivity telematics construction
• IoT Business News — Installed base of OEM telematics to reach 12M units by 2028
• Google News: installed base construction equipment OEM telematics 2028

Author: Construction FL News

FLORIDA STAFF WRITER The FLORIDA STAFF WRITER represents the experienced team at constructionflnews.com, your go-to source for actionable local news and information in Florida and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Florida Build Expo, major infrastructure projects, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated Builders and Contractors of Florida and the Florida Home Builders Association, plus leading businesses in construction and legal services that power the local economy such as CMiC Global and Shutts & Bowen LLP. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructiontxnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.