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 valued at USD 6.92 billion in 2024; forecast to triple by 2034

The global construction equipment telematics market was valued at USD 6.92 billion in 2024 (Global Market Insights Inc.). Market projections from the same firm show the market growing from USD 7.76 billion in 2025 to USD 20.59 billion in 2034, an implied 11.5% CAGR from 2025 to 2034. These headline figures lead a fast-moving sector where fleet tracking, remote monitoring and connected-machine services are being adopted across rental companies, contractors and equipment manufacturers.

What is driving the near-term market picture

Market segmentation data shows clear concentration and defined growth pockets. By equipment class the market is divided into Heavy, Fleet, Medium, and Light, with the Fleet segment dominating around 80% share of the construction equipment telematics market in 2024 (Global Market Insights Inc.). The Fleet segment is expected to continue strong expansion at a CAGR of over 11% from 2025 to 2034 (Global Market Insights Inc.).

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

Product and sales-channel split

By product, the market is divided into hardware and software. 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 tracked by OEM and Aftermarket. The OEM segment dominated the market and was valued at USD 4.8 billion in 2024 (Global Market Insights Inc.).

Regional highlights and country-level detail

North America remains the largest regional market, led by the United States. The data shows 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.).

Other national markets are expected to register notable increases through the forecast period. The market for construction equipment telematics in Germany’s construction equipment telematics market is expected to grow tremendously between 2025 and 2034 (Global Market Insights Inc.). The China’s construction equipment telematics market is expected to experience strong growth during 2025–2034 (Global Market Insights Inc.). The report also identifies 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 structure and leading vendors

A set of major suppliers accounts for a large share of the market. The top seven companies named are Caterpillar, KOMATSU (Komtrax), Verizon Connect, Geotab, MiX Telematics, Volvo CE, and TOPCON (Global Market Insights Inc.). Those top seven companies hold around 55% of the market share in 2024 (Global Market Insights Inc.). A separate industry tracker projects fast growth in installed telematics units: the active installed base of CE telematics systems will grow at a CAGR of 12.0% to reach 12.1 million units worldwide in 2028 (Berg Insight).

OEMs are prominent in telematics deployment. One analysis ranks Caterpillar as the leading construction equipment OEM by number of CE telematics systems deployed worldwide (Berg Insight). Caterpillar is reported to have well over 1 million connected assets in the construction equipment segment specifically (Berg Insight / Rickard Andersson quote). Several other OEMs and large manufacturers are cited as having hundreds of thousands of connected units.

Conflicting market estimates and broader construction equipment context

Different published sources offer varying totals and growth rates, highlighting the importance of method and scope. One dataset listed the global construction equipment telematics market was valued at over USD 1.29 billion in 2024 with a projected CAGR of 14.5% through 2035. Separately, an overall construction equipment market report estimated the global market for Construction Equipment was estimated at US$183.6 billion in 2024 and is projected to reach US$239.5 billion by 2030, at a projected CAGR of 4.5% from 2024 to 2030. These contrasting figures underline that telematics can be scoped differently (telemetry-only, hardware-plus-software, OEM-installed systems, or entire construction equipment market value).

Technology and product-level trends cited across reports emphasize fuel efficiency, automation, electric and hybrid powertrains, IoT integration, remote control, predictive maintenance and real-time performance monitoring as central to future adoption.

Reports and coverage

One recent market report provides detailed breakdowns with base year 2024 and covers 30 companies, contains 150 tables & figures, covers 24 countries, and is 300 pages long (Global Market Insights Inc.). The same material includes repeated calls to action such as “Download Free PDF” in the quoted content.

Why this matters to operators and fleet managers

Higher fleet penetration, dominant OEM channel value, rental-company uptake and continued hardware spend point to a near-term market where telemetry is becoming standard for tracking utilization, uptime and maintenance. Regional growth in large markets and focused expansion in Germany, China, Brazil and the UAE suggest manufacturers and service providers will prioritize product availability and local support in those territories.

Takeaway

The several data sets point to rapid expansion in machine connectivity and telematics services, even as total-market figures differ by source. Stakeholders evaluating the market should align on scope—hardware-only versus hardware plus software, OEM-installed versus aftermarket—before comparing headline numbers or planning investments.

Frequently Asked Questions

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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 NY News

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