Connected Truck Market is expected to reach value of $97.38 Bn by the end of 2031

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 web networks 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 quick status updates.

The advanced driver assistance system (DSRC) and fleet management system (FMS), which broadcast on the screen vehicle improvement, driver-assist system, fuel management, and other information, are examples of modern technology that are included in a connected truck. Their fleets can be managed more effectively and with fewer truck breakdowns thanks to connectivity. Customers benefit from the feature's time savings and increased profitability.

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In the next years, the market is likely to be driven by the growing need for vehicle connectivity in the logistics and transportation sector as well as the expanding information and telecommunications infrastructure. The market is anticipated to grow in the approaching years due to rising digitalization and value-added integration. The focus of truck manufacturers is changing from one on the product to one on the service, and connected technology is significantly increasing fleet vehicle usage and uptime.

Fleet managers have started to switch their attention from conventional vehicle monitoring to a more sophisticated and comprehensive fleet management service that integrates a driver, vehicles, and the entire logistical network into a single equation in real-time to achieve a return on investment and improved utilisation. Trucks at the back of the formation may now follow a lead vehicle comprehensively and automatically thanks to connected trucks, which have emerged to function as platoons.

The development of fresh approaches to effective fleet management and supply chain logistics is greatly aided by telematics. To improve workflows, uphold product purity, lengthen shelf life, and lower insurance risks, telematics offers real-time data and insight into the supply chain. Because it tackles key issues with safety and regulatory compliance, driver monitoring, insurance, and infrastructure, telematics is taking on more importance in commercial logistics and supply chains.

The increased usage of telematics in the automotive industry and the simplicity of vehicle diagnosis are both contributing to the connected truck market's explosive expansion. Threats from cyberattacks and a lack of consistent and flawless internet connectivity are, however, impeding the market's expansion. Additionally, it is anticipated that the development of self-driving vehicles would present expansion prospects during the projected period.

Global Connected Truck Market: Segmentations

Global Connected Truck Market: By Key Players
Robert Bosch
Continental
Denso
Delphi
Harman
ZF
NXP
Magna
Sierra Wireless
Tomtom
Trimble
Verizon

Global Connected Truck Market: By Types
Dedicated Short Range
Long Range/Cellular Network

Global Connected Truck Market: By Applications
Passenger
Commercial

Global Connected Truck Market: Regional Analysis
The countries covered in the regional analysis of the Global Connected Truck market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected truck market analysis from 2023 to 2031 to identify the prevailing connected truck market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• In-depth analysis of the connected truck market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global connected truck market trends, key players, market segments, application areas, and market growth strategies.

Reasons to Purchase this Report:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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