Global Connected Truck
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Connected Truck Market Report 2024.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Type |
|
Market Split by Vehicle |
|
Market Split by Range |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Connected Truck industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Connected Truck Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A connected truck has a number of sensors and modern technology installed, including an advanced driver-assist system (ADAS) and fleet management system (FMS), which show information on the screen about fuel management, vehicle enhancements, and driver-assistance systems. The market for Connected Trucks is propelled by the automotive industry's shift towards Intelligent Transportation Connectivity Systems to increase management efficiency and access to diagnostics. Innovations in infrastructure and manufacturing have led to a variety of solutions, catering to diverse consumer preferences and vehicle specifications. The demand for ITCS is further boosted by the aftermarket sector, where enthusiasts seek to customize their vehicles for improved safety and performance.
The rising demand for diagnostics fleet management, aimed at enhancing vehicle connectivity and business operation efficiency, is a significant driver for the Connected Trucks market. Commercial vehicle connectivity systems contribute to the overall fleet's connectivity, thereby improving diagnostics and management.
For instance, US-based Teletrac Navman a SaaS company reported, that Telematics solutions enhance operational effectiveness by providing real-time fleet activity monitoring, enabling quick action and efficient maintenance scheduling. They also provide cost reduction through better driver behavior, efficient routing, and reduced fuel expenditure, allowing fleet firms to focus on other important tasks.
Infrastructural innovations in connectivity systems, such as development in communication and IoT scanner devices and cloud-based structural connectivity, have enabled the ease of access to diagnostics, and stronger mobility of businesses, thereby driving their increased adoption in various vehicle segments.
For instance, ISG Oracle concluded, in their 2021 “orchestrating data in logistics” report, that AI and IT systems are crucial for the effective usage of automated procedures in transportation and logistics management. Blockchain, a fundamental component of transportation management systems, ensures accuracy and safety, while business applications leverage AI, machine learning, and other technologies for intelligent track-and-trace.
The higher production costs associated with the latest communicative devices in the Automotive industry, due to the use of premium materials and more complex manufacturing processes, make them more expensive than primitive satellite & radio-based devices, limiting their adoption among cost-sensitive consumers.
For instance, as per Martin Luther Mfenjou et al. Sustainable Computing: Informatics and Systems, the market for intelligent transportation systems (ITS) faces challenges due to expensive infrastructure, hindering the introduction of innovative solutions. Despite significant investments in R&D projects since the 1980s, the ITS market has not grown as anticipated.
The COVID-19 pandemic's manufacturing halts, lockdowns, and trade restrictions had a detrimental effect on the connected truck market. The decline in car manufacturing and labor shortages also had a big effect on the market. The market will probably rebound in the next years as automakers have reopened for business as a result of consistently increasing car sales in nations where COVID-19 cases are rare. Moreover, the automakers are putting backup plans in place to lessen potential business disruptions and maintain customer relationships in the vital areas of the automotive industry.
For instance, the International Organization of Motor Vehicle Manufacturers (OICA) reported a substantial decline in global vehicle production in 2020, attributing part of this downturn to supply chain disruptions caused by the pandemic. These disruptions had a cascading effect on the latest Commercial Vehicles, delaying the manufacturing and delivery of new vehicles equipped with modern features.
We have various report editions of Connected Truck Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The competitive landscape of the Connected Trucks market is characterized by the presence of several key players who engage in strategic initiatives such as product innovations, technological advancements, and strategic partnerships to strengthen their market position. Companies invest heavily in research and development to introduce high-performance and advanced systems, catering to both OEM and aftermarket sectors. The market is also marked by collaborations between manufacturers and automotive companies to develop custom solutions for new vehicle models. Quality, brand reputation, and distribution networks play significant roles in maintaining competitiveness in this dynamic market environment.
Fleet Owner reports that fleet managers may access additional operations, efficiency, safety, and location data through new portals that are integrated with OTA, remote diagnostics, and other digital solutions thanks to Volvo Connect and Mack Connect. On trucks manufactured in 2025, OEMs from the Volvo Group will standardize it.
Autocar reports that Eicher increased linked vehicles and buses' uptime by up to 98%. With an 80–82% success rate, the company's assistance may reach the automobiles in 2020 within four hours of notification. Currently, it is only three hours in more than 92% of the cases.
Top Companies Market Share in Connected Truck Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Region and country analysis section of Connected Truck Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Connected Truck market.
The current report Scope analyzes Connected Truck Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Connected Truck Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Connected Truck Industry growth. Connected Truck market has been segmented with the help of its Type, Vehicle Range, and others. Connected Truck market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, V2V communication held the major market share in the year 2023 due to the demand for the connectivity. For instance, TATA Elxsi has reported that as autonomous driving becomes more commonplace, V2X (V2V) is becoming a necessary component of contemporary automobiles. V2X (V2V) technology facilitates communication between automobiles, infrastructure, and vulnerable road users, among other parties, creating a more effective and secure driving environment.
V2C communication are the fastest-growing category, driven by advancements in IoT, AI and blockchain that improves efficiency and reduces costs. For instance, Dell reports, that the connected vehicle concept facilitates the tracking of the vehicle's usage patterns or fleet operations, the prompt diagnosis of the vehicle's condition (which aids in preventative maintenance), the assessment of insurance claims, and other functions. The vehicle will improve the ownership experience by figuring out the user's habits and making adjustments.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Connected Truck Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the LCV segment dominates the Connected Truck market while accounting for XX% market share in 2023. LCV segment is growing at a considerable XX% CAGR supported by the widespread use of A-GPS and VLT devices in new models. HCV segment experiencing rapid growth in the use of ITC systems, particularly in the logistics and transportation sectors. OEM’s decision to offer FMS as standard in certain models along with mandatory regulations is the major reason for the rapid growth.
For instance, the Ministry of Road Transport India reported, Intelligent Transport Systems (ITS) are systems that have been successfully implemented throughout the world to maximize the use of the current transportation infrastructure and enhance it in terms of quality, comfort, safety, and efficiency. Realizing the potential of ITS, Indian government agencies and other organizations are currently attempting to integrate different ITS components throughout the nation.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
According to Cognitive Market Research, long range connectivity dominates the Connected Trucks market while accounting for XX% market share in 2023. LCV segment is growing at a considerable XX% CAGR, due to the business and management needs. Long range communications in the connected truck sector uses technologies like V2I, V2C and vehicle to network (V2N), in few cases, to facilitate real time connectivity between vehicle and the central system.
DSRC is the fastest growing segment of the Connected Truck Sector due to the suitability for high-speed data movement. It is using the V2V, V2I and the V2C connectivity systems for allowing the highspeed exchange of data. It provides for purposes such as safety-critical applications such as - collision avoidance, lane departure warnings, and traffic signal timing diagnostics to the mainframe; resulting to the mandatory compliance regulated by the government to the automobile & transport industry.
Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Connected Truck Market is witnessing significant growth in the near future.
In 2023, the Vehicle to Vehicle (V2V) communication segment accounted for noticeable share of global Connected Truck Market and is projected to experience significant growth in the near future.
The Light Commercial Vehicle (LCV) segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Robert Bosch, Denso and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Vehicle to Vehicle (V2V) communication, Vehicle to Cloud (V2C) communication, Vehicle to Infrastructure (V2I) communication |
Vehicle | Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV) |
Range | Dedicated Short Range Communication (DSRC), Long Range |
List of Competitors | Robert Bosch, Continental, Denso, Delphi, Harman, ZF, NXP, Magna, Sierra Wireless, Tomtom, Trimble, Verizon, Following are the major key players, Robert Bosch, Continental, Denso, Delphi, Harman, ZF, NXP, Magna, Sierra Wireless, Tomtom, Trimble, Verizon |
This chapter will help you gain GLOBAL Market Analysis of Connected Truck. Further deep in this chapter, you will be able to review Global Connected Truck Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Vehicle Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Range Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Connected Truck market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Vehicle to Vehicle (V2V) communication have a significant impact on Connected Truck market? |
What are the key factors affecting the Vehicle to Vehicle (V2V) communication and Vehicle to Cloud (V2C) communication of Connected Truck Market? |
What is the CAGR/Growth Rate of Light Commercial Vehicle (LCV) during the forecast period? |
By type, which segment accounted for largest share of the global Connected Truck Market? |
Which region is expected to dominate the global Connected Truck Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Connected Truck Market
Request Sample