Press release
Global Connected Truck Market Future, Market Scope, Market Outlook: Introspective Market Research
The Global Connected Truck Market Size Was Valued At USD 41.18 Billion In 2021 And Is Projected To Reach USD 107.55 Billion By 2028, Growing At A CAGR Of 14.7% From 2022 To 2028.
A linked truck integrates cutting-edge digital-age technology such enhanced driver assistance systems, vehicle-to-vehicle (V2V) communication, and fleet management systems. Connected trucks provide connectivity on wheels by combining strong network technology with comfort, convenience, performance, safety, and security. By connecting to online platforms in this way, the driver can communicate in real time. Additionally, connected trucks are used because they have features that let the driver control the truck remotely and receive instant status updates.
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Market Dynamics:
Driver:
Telematics-equipped fleets have seen a rise in productivity. Fleets may pay up to 12% more on labour if they don't have access to telematics data to increase efficiency. Smart telematics systems provide a full productivity analysis of the entire fleet based on vehicle usage data, enabling managers to assess whether the staff is using their time productively or not. The cost of fuel makes up a considerable amount of the budget for the business. Even though the business may not have any control over fuel prices, by implementing GPS tracking or engine usage data, one can optimize the drivers' routes to use less fuel. Additionally, in June 2021, IVECO unveiled the IVECO S-Way, a 100% connected car designed primarily to boost efficiency and provide fleet owners with exceptional value.
Opportunities:
The development of fresh approaches to effective fleet management and supply chain logistics is greatly aided by telematics. To improve workflows, uphold product integrity, lengthen shelf life, and lower insurance risks, telematics offers real-time data and insight into the supply chain. Because it addresses significant issues with safety and regulatory compliance, driver monitoring, insurance, and infrastructure, telematics is taking on greater importance in commercial logistics and supply chains.
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Market coverage
•Available market numbers - 2022-2028
•Base Year - 2021
•Forecast Period - 2022-2028
•Segments covered - By Communication Type, By Vehicle Type.
•Competitive Landscape - Continental AG,AB Volvo, BorgWarner Inc., Denso Corporation, Harman International, Magna International Inc.
Market Segmentation
By Communication Type
•Vehicle to Vehicle (V2V)
•Vehicle to Cloud (V2C)
•Vehicle to Infrastructure (V2I)
By Vehicle Type
•Light Commercial Vehicle
•Heavy Commercial Vehicle
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By Region
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
•Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the Market
•Continental AG
•AB Volvo
•BorgWarner Inc.
•Denso Corporation
•Harman International
•Magna International Inc.
•Mercedes-Benz Group AG
•Robert Bosch GmbH
•Verizon Communications Inc.
•ZF Friedrichshafen AG
•Sierra Wireless Inc.
•Geotab Inc.
•TomTom International BV
•Trimble Inc.
•MiX Telematics And Other Major Players.
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Key Industry Development In The Connected Truck Market
In September 2022, the first CNG-powered Medium and Heavy Commercial Vehicle (M&HCV) truck was introduced by Tata Motors. It also added a cutting-edge Advanced Driver Assistance System (ADAS) and enhanced its best-selling Prima, Signa, and Ultra truck lines with premium features to improve driving comfort.
Table Of Content
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Communication Type
3.2 By Vehicle Type
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Connected Truck Market by Communication Type
To Be Continued……
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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