Connected Truck Market 2023-2032 Size, Trends, Overview

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Connected Truck Global Market Report 2023 identifies rise in digitalization as the major driver for the Connected Truck market's growth in the forecast period. Digitalization is the use of digital technologies to alter a business model and generate new revenue and value. Connect trucks are used in the digitalized transportation industry to provide businesses with real-time data and insights to improve their efficiency, safety, and sustainability by enhancing the bi-directional communication between the trucks. For instance, in November 2022, according to an article published by Zippia, a US-based online recruitment services provider company, globally 70% of the organization have digitalization strategies and 56% of CEOs agreed to have improved profits because of digital improvements. Therefore, the rise in digitalization is driving the growth of the connected trucks market

The global connected truck market size is expected to grow from $25.59 billion in 2022 to $30.10 billion in 2023 at a compound annual growth rate (CAGR) of 17.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global connected truck market size is expected to reach $54.68 billion in 2027 at a CAGR of 16%.

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Major competitors in the Connected Truck market are Robert Bosch GmbH, Continental AG, Denso Corporation, ZF Friedrichshafen, Magna International Inc., Daimler AG, Harman International

A key trend in the Connected Truck market includes Technological advancements. Major companies operating in the connected truck market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Volvo Trucks North America, a US-based truck company launched Connected Vehicle Analytics (CVA) tool that gathers actual data from fleet operations, such as current truck configurations, daily routes, average speed, and fuel usage. With the help of the CVA tool, dealers can keep an eye on how fleet clients are using their Volvo vehicles and identify areas where better spicing could increase their efficiency and productivity.

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The Connected Truck market is segmented -
•By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles
•By Range: Dedicated Short Range, Long Range Or Cellular Network
•By Communication Type: Vehicle to Vehicle (V2V), Vehicle to Cloud (V2C), Vehicle to Infrastructure (V2I)
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Connected Truck market.

The Business Research Company's "Global Connected Truck Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Connected Truck Market Include:
1. Executive Summary
2. Connected Truck Market Characteristics
3. Connected Truck Market Trends And Strategies
4. Connected Truck Market - Macro Economic Scenario
5. Connected Truck Market Size And Growth
...............
26. Africa Connected Truck Market
27. Connected Truck Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Connected Truck Market
29. Connected Truck Market Future Outlook and Potential Analysis
30. Appendix

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