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.

Global construction equipment telematics market set for rapid expansion

Key market snapshot

The global construction equipment telematics market was valued at USD 6.92 billion in 2024 (Global Market Insights Inc.). Market research from one major provider shows a sharp rise ahead: The market is expected to grow from USD 7.76 billion in 2025 to USD 20.59 billion in 2034 (Global Market Insights Inc.). That forecast implies an 11.5% CAGR from 2025 to 2034 (Global Market Insights Inc.).

What is driving near-term growth

Large fleet operations and rental businesses are key demand centers. According to market segmentation data, the Fleet segment dominated around 80% share of the construction equipment telematics market in 2024 (Global Market Insights Inc.). The Fleet segment is also expected to expand, with the Fleet segment is expected to grow at a CAGR of over 11% from 2025 to 2034 (Global Market Insights Inc.).

On the customer side, the rental segment dominated the market with 45% share in 2024 (Global Market Insights Inc.). That segment is tipped to grow faster than the overall market, with the rental segment is expected to grow at a CAGR of 12% between 2025 and 2034 (Global Market Insights Inc.).

Product and sales-channel picture

Hardware remains the larger piece of the telematics value chain. The report shows the hardware segment dominated the market and was valued at USD 4.95 billion in 2024 (Global Market Insights Inc.). On how systems reach buyers, the OEM segment dominated the market and was valued at USD 4.8 billion in 2024 (Global Market Insights Inc.).

Regional highlights

North America concentration is pronounced in the data: The U.S. dominated the North America construction equipment telematics market with around 89% market share in 2024 (Global Market Insights Inc.). That is reflected in revenue figures where The U.S. construction equipment telematics market revenue was USD 2.15 billion in 2024 (Global Market Insights Inc.).

Other national and regional markets are expected to grow strongly from 2025 to 2034, with mentions that Germany’s construction equipment telematics market is expected to grow tremendously between 2025 and 2034 (Global Market Insights Inc.). Likewise, China’s construction equipment telematics market is expected to experience strong growth during 2025–2034 (Global Market Insights Inc.). Growth is also expected in emerging markets such as Brazil’s construction equipment telematics market is expected to experience significant growth between 2025 and 2034 (Global Market Insights Inc.). The Gulf region is noted too, with the UAE construction equipment telematics market is expected to experience high growth between 2025 and 2034 (Global Market Insights Inc.).

Market structure and major players

Market concentration sits in the hands of a few global firms. The research lists seven leading firms and shows that 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 firms together account for a sizeable share: Those top 7 companies hold around 55% of the market share in 2024 (Global Market Insights Inc.).

One report covers a broad set of topics and data points: The Global Market Insights report lists “Major players operating in the construction equipment telematics industry” and provides market breakdowns by equipment class, industry, product, technology, customer, GAR, and sales channel (Global Market Insights Inc.). The report was prepared with a multi-region approach and base year 2024: The Global Market Insights report information was provided for multiple regions and countries, with base year 2024 (Global Market Insights Inc.). The published package covers many pages and tables: The Global Market Insights report covers 30 companies, contains 150 tables & figures, covers 24 countries, and is 300 pages long (listed twice in the text) (Global Market Insights Inc.).

Alternative estimates and technology trends

Other research offers different totals and timelines. One source places the wider construction equipment market — not limited to telematics — at the global market for Construction Equipment (not telematics) was estimated at US$183.6 billion in 2024 and is projected to reach US$239.5 billion by 2030 (ResearchAndMarkets.com). That source gives a lower growth rate for the overall equipment market with ResearchAndMarkets projects a CAGR of 4.5% for the overall Construction Equipment market from 2024 to 2030 (ResearchAndMarkets.com).

A manufacturer-focused set of materials includes telematics and connectivity claims and cites a different telematics figure: the text states the global construction equipment telematics market was valued at over USD 1.29 billion in 2024 (a different valuation than Global Market Insights’ USD 6.92B) and projects a CAGR of 14.5% through 2035 (source presented in the Volvo CE / regional context). That same set of materials highlights Southeast Asia growth, noting the Southeast Asia telematics market is cited as growing at around 11.5% annually, with rising demand in Singapore, Indonesia, Thailand, and Malaysia (Volvo CE / regional context).

Independent installed-base analysis points to fast unit growth: Berg Insight projects 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). Berg Insight also reports that Caterpillar has well over 1 million connected assets in the construction equipment segment specifically (Berg Insight / Rickard Andersson quote). It lists other major OEMs with large telematics deployments, including SANY and Komatsu, and names several manufacturers with several hundred thousand or more active units.

Method notes and repeated messaging

The source material contains repeated marketing and download prompts. For example, Repeated site messaging: “Download Free PDF” appears multiple times in the provided text (source: quoted material). The research packages and press releases referenced include contact and delivery messaging as part of their distribution material.

Bottom line

Multiple research tracks point to a rapidly expanding telematics market, but the exact size and pace differ by source. Operators planning fleets, rental companies, OEMs and parts suppliers are central to the demand picture. Telematics adoption is accelerating through factory-fit options and aftermarket offerings, and growth is concentrated where large fleets and rental businesses are active.

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Key features table

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 CA News

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