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What’s driving the connected trucks market growth? | prominent key Vendor Daimler AG, DENSO, Ford Motor Company, Volvo Group, General Motors Company, Mercedes-Benz, Volkswagen AG, Bosch, HARMAN International

connected trucks market

connected trucks market

Connected Trucks Market is expected to show significant growth over the forecast period due to growing demand for fleet management solutions in the transportation & logistics sector. The fleet management solutions have evolved to offer a wide array of telematics services such as roadside assistance and Usage-Based Insurance (UBI). These telematics solutions coupled with the decrease in the pricing of telematics systems are proliferating the connected trucks market. The vehicle data updates generated by telematic systems cater to the increasing need to reduce empty runs, fuel costs, and the overall vehicle downtime as well as improve to customer satisfaction and loyalty, contributing to the market growth.

The improving industry compliance norms and supportive government initiatives & investments toward developing connected infrastructures for the connected vehicle technology will drive the connected Trucks market.

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North America is estimated to hold the largest market share in the Connected Trucks market due to the increasing digitization of various services in fleet management, rise in the number of connected devices in commercial vehicles, and growing concerns over cybersecurity & OTA maintenance.
The presence of key market players, such as General Motors, Harman International, and Verizon Communication, in the region will support the market growth.

The prominent market players are focusing on strategic alliances with other players to enhance their features and offerings in the connected trucks market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Aptiv PLC
2. Continental AG
3. Daimler AG
4. Denso Corporation
5. Ford Motor Company
6. General Motors Company
7. Harman International Industries, Inc.
8. Mercedes-Benz
9. Robert Bosch GmbH
10. Verizon Communications
11. Volkswagen AG
12. Volvo Group
13. ZF Friedrichshafen AG

The digitization & electrification of various infotainment systems, components, telematics systems, and autonomous driving is becoming an integral part of high-end trucks. The global automakers are investing heftily in research & development activities to enhance cybersecurity & Over-The-Air (OTA) updates to rectify the bugs generated in the software of various applications, leading to an improvement in customer satisfaction & loyalty. The advancements in connected features will increase the overall operational efficiency and vehicle performance of fleet operators. These improvements and upgrades in trucks will boost the connected trucks market over the forecast timeline.

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What Information does this report contain?
- Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
- Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
- 6-7 year performance forecasts: major segments covering applications, top products and geographies.
- Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

The Asia Pacific connected trucks market is forecast to grow at the highest rate due to the expanding information & communication technology infrastructure. The supportive government initiatives & investments toward developing smart infrastructure, such as road and growing communication & information technology infrastructure including 4G LTE or 5G in the region, are expected to drive market growth over the forecast timeline. The developing countries in the region, such as India and China, have witnessed significant economic growth in recent years, which is fueling the connected trucks market demand to reduce the operating cost of the fleet and improve the safety of drivers.

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Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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