Material Handling Equipment Telematics Market
Report ID: SQMIG20I2392
Report ID: SQMIG20I2392
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Report ID:
SQMIG20I2392 |
Region:
Global |
Published Date: June, 2025
Pages:
185
|Tables:
94
|Figures:
71
Global Material Handling Equipment Telematics Market size was valued at USD 6.37 Billion in 2024 and is poised to grow from USD 7.48 Billion in 2025 to USD 27.01 Billion by 2033, growing at a CAGR of 17.4% during the forecast period (2026–2033).
A major impetus for the global material handling equipment telematics market is the rising need for operational efficiency and fleet management across industries such as manufacturing, logistics, and warehousing. With businesses under pressure to streamline supply chains and lower costs, telematics systems, which allow real-time tracking of equipment, deliver insights into key performance metrics such as fuel usage, maintenance, and operating hours. This information is invaluable in helping fleet managers make decisions concerning maintenance, ensuring equipment downtime reduction, and optimizing equipment usage. The cause-and-effect relationship is clear, operational efficiency is required more than ever; hence, industries are adopting telematics solutions that provide for better efficiency in material handling operations, consequently achieving cost savings and operational productivity.
One of the drivers of the market is increased emphasis on safety and regulatory compliance. Material handling equipment tends to move in dynamic settings, e.g., warehouses or distribution centers, where risks of accidents are considerable. Telematics technology provides the means for monitoring usage of equipment, driver behavior, and compliance with safety procedures and triggering alerts on any unsafe activities or equipment faults. This real-time information assists businesses in keeping their equipment in compliance with safety regulations so that accidents are minimized, and health and safety legislation is complied with. As businesses try to minimize risks and avoid compliance penalties, the market demand for telematics solutions increases, thereby promoting higher market usage of these solutions.
What Role Does AI-Powered Telematics Play in Improving Maintenance Scheduling?
With its advanced analytics capabilities, AI is playing a direct role in the global material handling equipment telematics market for material-handling equipment. AI in telematics provides real-time processing of a massive volume of equipment data to recognize patterns and predict recommendations for the operation of an asset. This results in more accurate scheduling of maintenance, lowering downtime, and increasing operation efficiency. The effect-cause link is clear: AI facilitates wiser fleet management through automation of processes such as diagnostics, route optimization, and failure prediction prior to occurrence. A corollary trend is the convergence of AI with IoT sensors, facilitating more accurate monitoring of equipment condition, which again fuels the growth of telematics systems across industries.
In October 2024, Samsara, a top IoT sensor and cloud software provider, broadened its telematics solutions by launching 'Asset Tags' to monitor non-vehicle assets. This launch allows companies to track equipment like forklifts and other material handling equipment, improving operational efficiency and asset management. The launch of Asset Tags contributed $1 million in annual contract value in the second quarter, demonstrating their market significance.
What are some Advanced IoT and AI-Powered Solutions Offered by Startups in this Market?
The global material handling equipment telematics market share has seen a rise in innovative startups focusing on providing advanced IoT and AI-powered solutions for improving fleet management, asset tracking, and operational efficiency. These start-ups sell cutting-edge telematics solutions, cloud infrastructure, and analytics solutions aimed at making businesses achieve more efficient logistics, less down-time, and compliance with safety requirements in all kinds of industry.
Founded in 2017, Targus is a tech startup dedicated to the delivery of IoT-based material handling and logistic telematics solutions. One of their most notable products is Targus TrackPro, an IoT-based asset tracking solution aimed at tracking material handling equipment such as forklifts, cranes, and pallet jacks. TrackPro makes use of GPS, RFID, and sensors to offer real-time location information, usage analytics, and health status reporting. Breakthrough Innovation in Targus's R&D is the creation of their Predictive Maintenance Algorithm, utilizing AI and machine learning to predict possible equipment failure. With predictive ability, companies can minimize downtime by planning maintenance ahead of time, enhancing the lifespan of their equipment.
Established in 2015, based in Columbia, Missouri, EquipmentShare is an industry leader in the equipment management and construction technology space, building telematics solutions into equipment used in material handling. On a foundational level, EquipmentShare utilizes the most advanced IoT and telematics to increase efficiency in the fleet, tracking, and decision-making based on data. Their patented platform, T3, has been developed to deliver equipment utilization, location, and performance data in real-time to industries with high dependence on material handling equipment, including warehousing, logistics, and construction. T3 allows companies to track forklifts, cranes, and loaders in real-time, facilitating improved fleet coordination and utilization.
Established in 2019, Tortoise is an early-stage startup with exciting telematics solutions for the material handling space, where there is heavy focus on AI and automation. Their flagship product is Tortoise AutoFleet, which is an indoor fleet management system built around machine learning and AI capabilities that automate the processes of material handling and equipment optimization. They cater to material handling environments as well as indoor warehouses. A Tortoise Breakthrough Innovation is their Autonomous Fleet Optimization Technology, which leverages AI algorithms to automatically distribute and re-route equipment to where it is most in demand, using real-time data from IoT sensors. This minimizes human handling, increases operational speed, and lowers labor costs, giving businesses a significant productivity and cost-saving edge.
Market snapshot - 2026-2033
Global Market Size
USD 5.43 billion
Largest Segment
Automated Guided Vehicles (AGVs)-1
Fastest Growth
Forklifts
Growth Rate
17.4% CAGR
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Global Material Handling Equipment Telematics Market is segmented by Equipment Type, Solution Type, End Use Industry and region. Based on Equipment Type, the market is segmented into Forklifts, Cranes, Automated Guided Vehicles (AGVs), Aerial Work Platforms, Earthmoving Equipment, Tractors, Telehandlers and Others. Based on Solution Type, the market is segmented into Asset Tracking, Fleet Management, Predictive Maintenance, Operational Analytics and Others. Based on End Use Industry, the market is segmented into Manufacturing, Logistics & Warehousing, Construction, Automotive and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Automated Guided Vehicles (AGVs) are transforming the global material handling equipment telematics market with enhanced automation solutions for warehousing, logistics, and manufacturing industries. AGVs employ telematics platforms coupled with IoT and AI to travel across facilities, carrying materials autonomously. AGVs enhance productivity, lower labor expenses, and increase safety. Their market dominance stems from increasing demand for automation, particularly among sectors that seek to reduce human error and optimize productivity. The capacity of AGVs to complement current systems and expand operations has also made them a vital aspect in contemporary material handling systems.
Forklifts are expected to be the fastest-growing equipment type in the global material handling equipment telematics market due to their widespread use in warehouses and distribution centers. The increasing adoption of telematics for real-time monitoring, predictive maintenance, and operational efficiency is driving their rapid growth and market demand.
Fleet management dominating in the global material handling equipment telematics market is spearheading innovation through the adoption of cutting-edge IoT, GPS, and AI technologies to maximize equipment utilization, maintenance, and fleet efficiency. These offerings facilitate real-time location, performance metrics, predictive maintenance, and route optimization, enabling companies to minimize downtime, enhance operational efficiency, and maximize equipment lifespan. The prevalence of fleet management solutions is as they can simplify intricate logistics and warehouse operations, cutting costs and improving productivity. With more businesses prioritizing the optimization of fleet operations and safety, fleet management solutions are invaluable in contemporary material handling and logistics systems.
Predictive maintenance solutions are set to be the fastest-growing segment in the global material handling equipment telematics market due to their ability to reduce unplanned downtime and repair costs. Using real-time data and AI-based insights, these solutions enable companies to predict equipment breakdowns, maintain peak performance, and maximize asset lifespan.
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North America is a leading region in the global material handling equipment telematics market, driven by the high rate of adoption of automation technologies in sectors like logistics, manufacturing, and warehousing. The advanced infrastructure in the region, high operational efficiency requirements, and technological advancement in fleet management are driving market growth. Also, the concentration of major players and rising investments in IoT and AI-based solutions help make North America leadership in the material handling equipment telematics market.
The U.S. holds a leadership position in North America's material handling equipment telematics market due to its established manufacturing, logistics, and e-commerce industries. The heavy uptake of automation technology, IoT, and AI-driven solutions by warehouses, retail businesses, and supply chain companies is fueling growth in the market. Availability of prominent telematics solution players and substantial investments in R&D also further establishes the U.S. as the market leader with trends to be followed in innovation across the world.
Canada makes a notable contribution to the North America's material handling equipment telematics market in North America, especially in sectors such as mining, forestry, and transportation. The country's aggressive push towards industrial process sustainability and innovation underlies the need for advanced telematics technologies that enhance fleet management and asset tracking. The government's support for technology development and automation implementation in different sectors also enhances the adoption of telematics, allowing Canadian industries to maximize efficiency and global competitiveness in material handling.
Europe is the fastest growing region in the global material handling equipment telematics market due to the highly developed industrial sector in the form of automotive, logistics, and manufacturing. Strong emphasis on automation, sustainability, and operational effectiveness in the region creates demand for telematics solutions. Europe's market development is also further bolstered by growing investments in AI, IoT, and predictive maintenance technologies to optimize operations and enhance supply chain management.
Germany leads Europe's material handling equipment telematics market through its established industrial sector, specifically automotive, manufacturing, and logistics industries. The rate of Industry 4.0 technology adoption in the country, with IoT, AI, and automation, boosts telematics solution demand. Germany's solid infrastructure and emphasis on innovation create high growth, as companies increasingly use telematics for predictive maintenance, fleet management, and optimization of operations.
Italy is fastest growing region in the European material handling equipment telematics market, with its strong manufacturing, logistics, and automotive industries. The increasing adoption of automation and intelligent technologies in industries like retail and industrial manufacturing contributes to the demand for telematics solutions. Italy's emphasis on operational efficiency and sustainability, especially in supply chain management, contributes to the rise of IoT and AI-based telematics systems being integrated for enhanced fleet management and predictive maintenance.
The Asia Pacific region is experiencing rapid growth in the global material handling equipment telematics market, driven by robust industrialization, manufacturing, and logistics sectors in countries like China, Japan, and India. The growing embracement of automation, IoT, and AI technology to streamline operations and lower costs is driving market growth. Further, the emphasis of the region on enhancing supply chain efficiency and increasing investments in smart technologies is making Asia Pacific a key hotspot for telematics innovation in material handling.
Japan is a leading region in the Asia Pacific’s material handling equipment telematics market due to its technologically advanced manufacturing and logistics industries. Strong emphasis of the country on IoT technologies, robotics, and automation propels the use of telematics solutions. Well-established infrastructure in Japan, combined with national efforts towards innovation and sustainability, drive demand for fleet management and predictive maintenance tools, making Japan a smart supply chain operations leader and operational excellence leader.
Singapore is an influential player in the Asia Pacific's material handling equipment telematics market because Singapore is a key global logistics and trade center. The advanced port infrastructure, warehousing, and e-commerce industries in the country generate high demand for telematics technology to enhance fleet management, real-time tracking, and operational efficiency. Singapore's emphasis on smart city projects, automation, and sustainability drives the swift adoption of IoT and AI-powered telematics technologies in various sectors.
South Korea is a significant player in the material handling equipment telematics market in Asia Pacific, particularly in the automotive, electronics, and logistics industries. The emphasis of South Korea on automation, robotics, and smart factories drives the demand for telematics solutions, improving fleet tracking, operation efficiency, and maintenance. South Korea's well-developed infrastructure and adoption of IoT and AI technologies also aid in the growth of the market and render it the hub of innovation for material handling and supply chain management.
Indonesia is an emerging player in the Asia Pacific’s material handling equipment telematics market, driven by its growing manufacturing, logistics, and e-commerce sectors. The nation's large-scale infrastructure projects and growing industrial automation drive the need for sophisticated telematics solutions to enhance supply chain effectiveness, minimize downtime, and optimize fleet management. Indonesia's implementation of IoT and AI technologies in the material handling sector is gaining momentum with government efforts to enhance logistics and infrastructure.
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The global material handling equipment telematics market is highly competitive, with several international companies leading the way in innovation and market share. Key players include Caterpillar, Toyota Industries Corporation, Honeywell, Siemens, and Jungheinrich. These players specialize in providing IoT-based solutions, predictive maintenance, and fleet optimization services to optimize operational efficiency. For instance, Caterpillar invests in a lot of AI and machine learning capabilities to deliver real-time fleet management solutions, whereas Toyota lays focus on energy-efficient automation solutions. Honeywell concentrates on enhancing logistics operations by using data analytics, whereas Siemens and Jungheinrich build out in smart warehouse solutions and automation technologies.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, global material handling equipment telematics industry is fuelled by growing needs for operational efficiency, safety, and compliance, coupled with growth in AI-enabled and IoT-based solutions. Telematics solutions improve fleet management through real-time monitoring, predictive maintenance, and performance improvement, and reduce costs and enhance productivity in the end.
Startups providing innovative solutions like predictive maintenance algorithms and self-driving fleet optimization further drive market growth. With automation and real-time data analytics increasingly becoming the backbone of logistics and manufacturing operations, logistics and manufacturing sectors across the globe are embracing these technologies to remain competitive. Though they face issues like data security and compatibility with systems, the market keeps growing based on innovation and technological advancements in telematics.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 6.37 Billion |
| Market size value in 2033 | USD 27.01 Billion |
| Growth Rate | 17.4% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Material Handling Equipment Telematics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Material Handling Equipment Telematics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Material Handling Equipment Telematics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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