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OEMs Lead the Total Market; Asia-Pacific is to Dominate the Farm Equipment Market Growing at a CAGR of 19%
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This study offers strategic analysis of the nascent market for the global farm equipment and global farm equipment telematics market in global geographies. It provides an overview of market trends, growth prospects, and key sectors for growth. It includes a market structure and outlook, market potential and opportunity analysis for the global farm equipment telematics market. The base year is 2017, with forecasts from 2018 to 2023. Farm equipment manufacturers (original equipment manufacturer) will continue their dominance over the global telematics market throughout the forecast period. The manufacturers like Deere & Company, Kubota Agricultural Machinery, and CNH Industrial are expected to focus on open platform technology and digitalization of the farming industry. Tier I suppliers and non-traditional participants are expected to enter into the market, which will intensify the competition. With the increasing number of farm equipment leasing companies/rental companies, they will look for onboard telematics through partnerships. Mergers and acquisitions will be key competitive development in the market throughout the forecast period. Many OEMs are expected to enhance their technological upgradation by acquiring the smaller companies and partnering with Tier I suppliers. New aftermarket vendors will foray into the farm equipment telematics market and acquire significant market share post 2020. The report analyses the farm equipment telematics market by volume. Regions covered in the report are (North America, Europe, Asia, Africa, and Rest of World). The study gives the market sizing for each of the region considered in the study. The report also covers the ecosystem and key features in demand for the global farm equipment telematics. The study sheds light on the market share analysis for the global farm equipment telematics. This report will give a holistic view of the global telematics market and will be useful for farm equipment manufacturers, telecommunication companies, data analytics companies, investors, PE Firms and banking industries, research firms, government and legal organizations.Frost & Sullivan’s research services are based on secondary and primary research data. Secondary research includes information that was extracted from existing studies and project material within the Frost & Sullivan database, which includes data and information gathered from technical papers, specialised magazines, seminars, and Internet research. As primary research, more than 10 interviews were conducted over the phone by senior consultants/industry analysts with original equipment suppliers, regulation authorities, and Tier I suppliers.
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