Over the past 5 years, more off-highway (agricultural, construction, and mining) equipment rental companies, shared platform providers, and service relationship management companies have been providing customers with solutions that address labor shortages, inventory management needs, and high operational and maintenance costs, creating significant demand for telematics services.
While OEMs and dealerships are partnering with digital solution providers and suppliers for inventory optimization, stand-alone platform providers are enhancing their purchasing processes for various customer segments through equipment and parts auctioning and peer-to-peer sharing and renting. They are partnering with technology suppliers and even with competitors to provide a smart, all-in-one experience to the end user. End customers are implementing prognostics, operator monitoring, and other fleet management solutions to better manage costs.
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