The Connected Truck Global Market Report 2023, provides comprehensive information on the connected truck market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Connected Truck Global Market Report 2023, 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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Technological advancements are a key trend gaining popularity in the connected truck market. 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. Dealers can gain quantitative insights about a customer’s fleet’s performance and what updates and adjustments can be made to the specifications when investing in new trucks using Volvo Trucks’ CVA tool. Data are supplied on a variety of factors that may impact how much fuel a vehicle uses and consumes.
The connected truck market is segmented:
1) By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles
2) By Range: Dedicated Short Range, Long Range Or Cellular Network
3) By Communication Type: Vehicle to Vehicle (V2V), Vehicle to Cloud (V2C), Vehicle to Infrastructure (V2I)
4) By Application: Driver Assistance, Safety, Entertainment, Well-being, Vehicle Management, Mobility Management
North America was the largest region in the connected truck market in 2022.
The table of contents in TBRC’s connected truck market report includes:
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
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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
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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