Connected Truck Market
The Connected Truck Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The connected truck market is anticipated to register a CAGR of over 17.3% during the forecast period (2020 – 2025).
Currently, connecting machine without a human interface is the latest technology trend. The demand for the Internet of Things (IoT) is majorly growing in the trucking industry. The rise in digitization and increase in value-added integration are likely to boost the growth of the connected trucks market. Through connected truck technology, fleet operators are anticipating to optimize factors, such as fuel, maintenance, and driver wages, which together contribute more than 60% of the total cost of ownership. By the end of the forecast period, more than 35 million trucks globally are expected to be connected. Nearly 40% of fleet managers believe that connected trucks are necessary, as different countries are making smart roads and smart cities. Some of the latest trends in the market are Internet of Things in trucks, artificial intelligence, autonomous technologies, 3D printing, and its impact and value proposition to the global logistics industry. The increasing use of telematics in the truck is also one of the significant trends in the market.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Connected Truck Market: Robert Bosch GmbH, Continental AG, ZF Friedrichshafen, Daimler AG, Volvo, Delphi Technologies, and Denso Corporation.
Growing Demand and Use of Telematics in the Commercial Vehicle Market
Telematics plays a significant role in developing unique solutions for efficient supply chain logistics and fleet management. Telematics provides real-time visibility and data to optimize procedures and processes, maintain product integrity, optimize shelf-life, and reduce losses and insurance risk across the supply chain. Telematics is becoming a critical component in commercial logistics and supply chains, because it addresses key challenges related to safety and regulatory compliance, driver monitoring, insurance, and infrastructure.
Telematics solutions integrate capabilities, like live traffic updates, smart routing and tracking, rapid roadside assistance in case of accidents or breakdown, automatic toll transactions, and insurance telematics. Therefore, they are critical to optimizing the operational metrics of fleets, such as fuel cost reduction, resource optimization, and real-time connectivity. Companies are spending huge amount of money in making the telematics technology more advance. For instance; Tech Mahindra’s telematics solutions are built with a compelling ecosystem of partners in the Machine Machine (M2M) space, strong experience in industry verticals, deep technical skills, and reusable platforms for deployment in logistics, automobiles, asset tracking, and other industries.
The automotive industry is projected to see an increase in the adoption of the connected truck, due to technological advancements in the automotive industry. Connected trucks are expected to play a significant role in the development of autonomous trucks, thereby providing opportunities for automotive manufacturers, even though the limited network infrastructure is expected to be a significant factor that is likely to hinder the connected truck market over the forecast period.
Developed Regions are Driving the Connected Truck Market Growth
Geographically, Europe and North America hold the major shares of the connected truck market, owing to the expansion of the automotive sector in these regions, leading to an increase in the number of the connected trucks. Connected trucks in the developed regions are anticipated to register a significant growth over the forecast period, due to higher adoption rate and improved infrastructure. Awareness on safety while driving and government safety regulations are empowering the automotive industry, thereby driving the connected truck market in these regions during the forecast period.
The demand for connected trucks in Asia-Pacific is anticipated to grow rapidly over the forecast, as the OEMs and technology manufacturers are developing various connected vehicle solutions, owing to which the use of telematics and fleet management solutions for connected commercial vehicles has increased in the region.
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Regional Analysis For Connected Truck Market:
For comprehensive understanding of market dynamics, the global Connected Truck market is analyzed across key geographies namely:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Connected Truck Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger and acquisitions along with trending innovation and business policies are reviewed in the report. The report contains basic, secondary and advanced information pertaining to the Market global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2020–2025.
Following are major Table of Content of Connected Truck Market:
– Global Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
– Global Market competition by top Players
– Analysis by Regions
– Consumption by Regions
– Consumption, By Types, Revenue and Market share by Types
– Consumption, By Applications, Market share (%) and Growth Rate by Applications
– Complete profiling and analysis of Players
– Industrial Chain, Sourcing Strategy and Downstream Buyers
– Marketing Strategy Analysis, Distributors/Traders
– Global Market Effect Factors Analysis
– Global Market Forecast
– Global Market Research Findings and Conclusion, Appendix, methodology and data source
Finally, all aspects of the Global Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis.
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