Material Handling Equipment Telematics Market Growth Trends: Moderate Expansion with 13.2% CAGR Until 2029

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Material Handling Equipment Telematics Market

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What Is the Growth Potential of the Material Handling Equipment Telematics Market in the Next Decade?
The material handling equipment telematics market size has grown rapidly in recent years. It will grow from $5.42 billion in 2024 to $6.14 billion in 2025 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to increasing demand for fleet management, rising adoption of internet of things (IoT) in logistics, rising labor costs, focus on predictive maintenance, increasing safety concerns and demand for real-time data analytics.

The material handling equipment telematics market size is expected to see rapid growth in the next few years. It will grow to $10.09 billion in 2029 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to increasing automation in warehouses, growing emphasis on sustainability, rising adoption of autonomous material handling equipment and growing investment in digital twins. Major trends in the forecast period include artificial intelligence (AI)-powered predictive analytics, real-time remote monitoring, edge computing for faster data processing, fifth generation (5g)-enabled telematics solutions, autonomous material handling systems and internet of things (IoT)-based condition monitoring.

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What Are the Key Growth Factors Supporting the Material Handling Equipment Telematics Market Expansion?
The expansion of industrial fleets is expected to propel the growth of the material handling equipment telematics market going forward. Industrial fleets refer to groups of vehicles, machines, or equipment owned or operated by a company for industrial operations such as construction, mining, manufacturing, or logistics. The expansion of industrial fleets is due to the rapid growth of e-commerce and warehouse automation for efficiency and automation in handling growing volumes of goods across supply chains. Material handling equipment telematics enhances industrial fleets by providing real-time performance data, enabling predictive maintenance, improving fleet utilization, and ensuring safety. This leads to reduced downtime, optimized resource allocation, and cost savings, ultimately boosting productivity and efficiency. For instance, in June 2024, according to Robotics 24/7, a US-based business-to-business (B2B) media platform, private fleet shipments grew by 4.6%, with volume increasing by 8.4%, and the reported value of these shipments saw a 2.8% year-over-year growth rate. Therefore, expanding industrial fleets is driving the growth of the material-handling equipment telematics market.

Which Segments Are Attracting Maximum Investment in the Material Handling Equipment Telematics Market?
The material handling equipment telematicsmarket covered in this report is segmented –

1) By Product: Aerial Work Platform, Forklift, Cranes, Earthmoving Equipment, Truck, Tractor, Telehandler, Other Products
2) By Solution: Asset Tracking, Fleet Management, Predictive Maintenance, Operational Analytics
3) By End-Use Industry: Logistics And Transportation, Warehousing And Distribution, Manufacturing, Construction, Mining

Subsegments:
1) By Aerial Work Platform: Boom Lifts, Scissor Lifts, Vertical Mast Lifts, Push Around Lifts, Spider Lifts
2) By Forklift: Electric Forklifts, Internal Combustion (IC) Forklifts, Reach Trucks, Pallet Jacks, Order Pickers
3) By Cranes: Mobile Cranes, Tower Cranes, Overhead Cranes, Gantry Cranes, Crawler Cranes
4) By Earthmoving Equipment: Excavators, Loaders, Bulldozers, Backhoe Loaders, Motor Graders
5) By Truck: Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks, Refrigerated Trucks, Flatbed Trucks
6) By Tractor: Utility Tractors, Row Crop Tractors, Industrial Tractors, Specialty Tractors, Compact Tractors
7) By Telehandler: Rotating Telehandlers, Fixed Telehandlers, High-Capacity Telehandlers, Compact Telehandlers, Heavy-Duty Telehandlers
8) By Other Products: Conveyor Systems, Automated Guided Vehicles (AGVs), Warehouse Robots, Tow Tractors, Straddle Carriers

How Are Current Trends Influencing the Material Handling Equipment Telematics Market Growth?
Major companies operating in the material handling equipment telematics market focusing on developing innovative products, such as AI-based camera systems, to enhance operational efficiency and predictive maintenance. Artificial intelligence (AI)-based camera systems for material handling equipment telematics use advanced artificial intelligence and computer vision to monitor and analyze equipment activities in real-time. This system captures high-definition video and applies AI algorithms to detect potential issues such as obstacles, operator behavior, and environmental changes. For instance, in March 2025, Gather AI, a US-based artificial intelligence company, launched MHE Vision, an artificial intelligence (AI)-powered camera system for material handling equipment. It utilizes artificial intelligence (AI) and machine learning for real-time inventory tracking, improved accuracy, and enhanced productivity. By integrating imaginative vision into forklifts and handling equipment, MHE Vision optimizes warehouse efficiency while reducing errors.

Which Major Companies Are Operating in the Material Handling Equipment Telematics Market?
Major companies operating in the material handling equipment telematics market are Caterpillar Inc., Komatsu Ltd., Toyota Industries Corporation, Doosan Corporation, Jungheinrich Aktiengesellschaft, Cargotec Oyj, Konecranes Oyj, Manitou BF SA, Kenco Group Inc., EquipmentShare.com Inc., Samsara Inc., The Raymond Corporation, Geotab Inc., Telit Cinterion Ltd., MH Equipment Company, PowerFleet Inc., Clark Material Handling Company, Mid Columbia Forklift Inc., Blackbox GPS Technology Private Limited, Cognecto Private Limited

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How Is Regional Performance Expected to Affect Material Handling Equipment Telematics Market Growth?
North America was the largest region in the material handling equipment telematics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the material handling equipment telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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