On the Road to Connectivity : Exploring the Connected Truck Market Dynamics Growing at a CAGR of 16.1% From 2022 to 2031

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐀𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 :

The global connected truck market was estimated at $22.20 billion in 2021, and is predicted to reach $97.38 billion by 2031, growing at a CAGR of 16.1% from 2022 to 2031.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Massive use of telematics in the automotive sector and ease of vehicle diagnosis propel the growth of the global connected truck market. Nonetheless, the lack of uninterrupted and seamless web connectivity and the rise in cyber terrorism are a few of the factors that impede the global market expansion. The production of autonomous trucks opens new dimensions of growth for the market in the years ahead.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/9979

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

AB Volvo
Borgwarner Inc. (Delphi Technologies Plc)
Continental AG
Denso Corporation
Geotab Inc.
HARMAN International
Magna International Inc.
Mix Telematics,
Robert Bosch GmbH
Sierra Wireless
TomTom International BV
Trimble Inc.
Verizon Communications
ZF Friedrichshafen AG

𝐓𝐡𝐞 𝐥𝐢𝐠𝐡𝐭 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐛𝐲 𝟐𝟎𝟑𝟏

In terms of vehicle type, the light commercial vehicle segment contributed to the largest market share in 2021, accounting for more than two-thirds of the global market. Furthermore, the segment is anticipated to dominate the global connected truck market over the forecast period. The introduction of new connected trucks by key automotive manufacturers is the major factor driving the growth. However, the heavy commercial vehicles segment to record the fastest CAGR of 18.6% over forecast period.

𝐓𝐡𝐞 𝐯𝐞𝐡𝐢𝐜𝐥𝐞-𝐭𝐨-𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

Based on communication type, the vehicle-to-vehicle segment contributed to the highest market share in 2021, accounting for nearly two-fifths of the global connected truck industry. Reportedly, the vehicle-to-vehicle segment is a major component of the intelligence transport system (ITS). Moreover, ITS makes use of vehicle-to-vehicle communication enhances traffic management by allowing vehicles to communicate with roadside services, including traffic lights and road signs. However, the vehicle-to-infrastructure segment to record the fastest CAGR of nearly 17.7% from 2022 to 2031.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/connected-truck-market/purchase-options

𝐓𝐡𝐞 𝐝𝐞𝐝𝐢𝐜𝐚𝐭𝐞𝐝 𝐬𝐡𝐨𝐫𝐭 𝐫𝐚𝐧𝐠𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐡𝐨𝐥𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐨𝐯𝐞𝐫 𝟐𝟎𝟐𝟐-𝟐𝟎𝟑𝟏

Based on the range, the dedicated short range segment is predicted to register the highest CAGR of 16.7% during the period from 2022 to 2031. Moreover, the segment contributed to more than three-fifths of the global connected truck market share in 2021, and is expected to remain dominant during the forecasted timeframe. The growth of the segment can be attributed to its low latency, interoperability, and high security. Furthermore, the dedicated short range receives less interference during extreme climatic conditions.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐨 𝐀𝐜𝐡𝐢𝐞𝐯𝐞 𝐍𝐮𝐦𝐞𝐫𝐨 𝐔𝐧𝐨 𝐏𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐁𝐲 𝟐𝟎𝟑𝟏

By region, North America contributed significantly toward the global connected truck market share in 2021 and is projected to continue its dominance during the forecast period. The region accounted for nearly two-fifths of the regional market share in 2021. The growth of the market in North America over the forecast period can be credited to the massive use of new telematics tools for safe and cost-efficient fleet management activities. Apart from this, key players in the region incorporate advanced telematics solutions in their automotive, thereby driving the market growth. However, the Asia-Pacific market is anticipated to record the fastest CAGR of 17.6% from 2022 to 2031.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/9979

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Vacuum Truck Market : https://www.prnewswire.com/news-releases/vacuum-truck-market-to-reach-2-7-billion-globally-by-2031-at-6-5-cagr-allied-market-research-301583572.html

Forklift Truck Market : https://www.globenewswire.com/en/news-release/2022/08/22/2502140/0/en/Forklift-Truck-Market-to-Generate-103-9-billion-by-2031-Allied-Market-Research.html

Hydrogen Fuel Cell Truck Market : https://www.prnewswire.com/news-releases/hydrogen-fuel-cell-truck-market-to-reach-3-7-billion-globally-by-2032-at-36-0-cagr-allied-market-research-301807875.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

About Us :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.