Below are some of the key findings from the connected truck market research report
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Global Connected Truck Industry Overview
The connected truck market analysis identified the need for effective fleet management solutions as the major factor driving the growth of the connected truck market. Telematics is being used in the logistics sector to reduce empty runs thereby reducing fuel costs, as well as the overall vehicle downtime. Fleet management solutions have evolved to provide a wide array of telematics services. This along with a gradual decrease in the pricing of telematics systems has led fleet owners to opt for fleet management services and is driving the demand for connected truck market.
The connected truck market is witnessing new trends like upgradation to higher SAE automation levels and the advent of truck platooning. Developments in Cooperative Adaptive Cruise Control (CACC) technology has resulted in the emergence of truck platooning, with ADAS like an emergency braking system, anti-collision system and adaptive cruise control system fitted into platoon trucks. This connected truck market forecast predicts that fueled by these factors, the connected truck market will grow at a CAGR of almost 30% during the forecast period
Top connected truck companies covered in this market research report
The connected truck market is fairly fragmented with the presence of several vendors. The market is currently in its early growth phase, exposed to opportunities and will continue to grow during the forecast period. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this connected truck industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
- Bosch
- Continental
- DENSO
- ZF Friedrichshafen
- TomTom
- NXP Semiconductors
Connected truck market segmentation based on geographic regions
- Americas
- APAC
- EMEA
With a comprehensive study of the growth opportunities for the companies, the APAC region will account for the highest growth of this market throughout the forecast period, while the Americas will account for the largest chunk of connected truck market share.
Connected truck market segmentation based on application
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
The LCV segment dominates the connected truck market share and will account for the highest growth in the market. Additionally, the report also provides an accurate prediction of the contribution of the various application segments to the growth of the connected truck market size.
Key highlights of the global connected truck market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the connected truck market during the next five years
- Precise estimation of the global connected truck market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the connected truck industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of connected truck companies