The installed base of material handling equipment telematics systems in Europe and North America to exceed 3 million units by 2027
Gothenburg, Sweden – July 4, 2023: Berg Insight, the leading IoT market research provider, today released a new market study covering the material handling equipment (MHE) telematics market. An increasing share of material handling equipment such as forklifts are now equipped with telematics-enabled fleet management systems. Europe and North America represent advanced telematics markets in this segment. Berg Insight estimates that the installed base of active material handling equipment telematics systems in Europe reached more than 0.9 million units in 2022. Growing at a compound annual growth rate (CAGR) of 16.6 percent, the active installed base is forecasted to reach 2.0 million units in Europe by 2027. In North America, the installed base of active material handling equipment telematics systems is estimated to over 0.5 million units in 2022. The active installed base is forecasted to grow at a compound annual growth rate (CAGR) of 17.8 percent to reach 1.2 million material handling equipment telematics systems in North America in 2027.
“Material handling equipment telematics systems have been offered by equipment manufacturers and aftermarket providers alike for decades”, said Rickard Andersson, Principal Analyst, Berg Insight. He adds that Berg Insight ranks Linde Material Handling (KION Group) and Toyota Material Handling (Toyota Industries) as the largest providers of material handling equipment telematics solutions. Including the sister brands STILL (KION Group) and Raymond (Toyota Industries) respectively, both groups have installed bases of several hundred thousand units deployed on forklifts and similar. “Toyota Industries and KION are also established as the leading manufacturers of forklifts”, continued Mr. Andersson. Additional top players include Jungheinrich and Crown Equipment, both having estimated installed bases of over 100,000 active units, followed by Speedshield Technologies which is primarily a supplier to Hyster-Yale Group (HYG). Other leading aftermarket solution providers include Powerfleet and GemOne. “Diverse players such as Davis Derby, EC2E, Collective Intelligence, Komatsu, Litum, Kiwitron and ELOKON are also active in this space, all having installed bases of more than 10,000 units for material handling equipment such as forklifts”, concluded Mr. Andersson.
Download report brochure: The Material Handling Equipment Telematics Market
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Berg Insight is a dedicated M2M/IoT market research firm based in Sweden. We have been specialising in all major M2M/IoT verticals such as fleet management, car telematics, smart metering, smart homes, mHealth and industrial M2M since 2004. Our vision is to be the most valuable source of intelligence for our customers. Berg Insight offers numerous market reports, detailed market forecast databases and advisory services. We provide custom research tailored to your requirements including focussed research papers, business case analysis, go-to-market strategies and bespoke market forecasting. We have provided analytical services to 1400 clients in 72 countries on six continents to date. Our customers range from many of the world’s largest mobile operators, IT companies and telecom vendors, to venture capitalists, technology start-ups and specialist consultants.
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