Truck-as-a-Service Market by Service and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR45445

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The truck-as-a-service market share is expected to increase by USD 24.92 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 22.19%.

This truck-as-a-service market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers truck-as-a-service market segmentations by service (digital freight brokerage, telematics, data analytics, and truck platooning) and geography (North America, Europe, APAC, South America, and MEA). The truck-as-a-service market report also offers information on several market vendors, including AB Volvo, Daimler AG, Fleet Advantage LLC, Fleet Complete, Ford Motor Co., Hino Motors Ltd., Microlise Group Plc, Tata Motors Ltd., Trimble Inc., and Volkswagen AG among others.

What will the Truck-as-a-Service Market Size be During the Forecast Period?

Truck-as-a-Service Market Size

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Truck-as-a-Service Market: Key Drivers, Trends, and Challenges

The digital transformation in trucking industry is notably driving the truck-as-a-service market growth, although factors such as shortage of truck drivers may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the truck-as-a-service industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Truck-as-a-Service Market Driver

The digital transformation in the trucking industry is one of the key factors driving the growth of the global truck-as-a-service market. The trucking industry is undergoing a continuous digital transformation globally as OEMs and technology suppliers are recalibrating their business strategies. The intense competition is forcing fleet operators to increase their efficiency and reduce costs. This has resulted in a shift from truck-as-a-product to truck-as-a-service business models, thereby leading to the implementation of connected truck-enabled services and platform-based production. The truck manufacturers are continuously focusing on leveraging technologies. However, autonomous trucking is an emerging concept, which includes the use of self-driving vehicles for commercial uses. Truck platooning is also an emerging concept. It refers to the linking of two or more trucks through automatic braking and a dedicated radio frequency that allows the vehicles to communicate with each other. Platooning helps save fuel due to reduced aerodynamic drag as the vehicles travel in close proximity. Such implementation of various technologies in trucking services is likely to fuel the market growth during the forecast period.

Key Truck-as-a-Service Market Trend

The adoption of blockchain in trucking will fuel the global truck-as-a-service market growth. Earlier, the traditional trucking practices included many manual processes such as paperwork filing and manually logging miles and hours driven. Such activities are usually time-consuming. This has led to the adoption of technologies such as blockchain. The blockchain is a shared ledger technology, which is used to record digital transactions. It can help businesses solve complex problems. The use of blockchain in trucking helps in streamlining freight transactions by improving the visibility, security, and accuracy of data. In trucking, blockchain technology ensures better asset utilization and helps the industry more accurately forecast and predict volumes. It also helps enhance the payment transactions and possibly eliminate the middleman in the trucking business. Moreover, some of the major vendors that provide truck-as-a-service are focusing on implementing blockchain. For instance, in November 2021, Daimler Trucks announced the launch of Virtual Vehicle. This first open OEM platform enables fleets to access telematics, software solutions, real-time vehicle data, and third-party applications directly from their vehicles. However, the rise in the adoption of blockchain in trucking operations is likely to fuel the market growth during the forecast period.

Key Truck-as-a-Service Market Challenge

The shortage truck drivers are a major challenge for the global truck-as-a-service market growth. Most of the drivers in the trucking industry are retiring, and most people are unwilling to take up this profession. For instance, the number of truck drivers is likely to reduce to half by 2023 as compared with that of 2019. There is a shortage of drivers, mainly due to the low remunerations for the drivers in most urban and semi-urban markets in various countries. For instance, according to the US Bureau of Labor Statistics data, truck drivers earn an average of $21.80 an hour. Similarly, in India, the average salary for a truck driver is around $350 per month, which is less as compared with the salary of a taxi driver, who earns about $800 per month. The truck drivers are expected to work as many as 70 hours a week and stay away from home for weeks. The health-related fatalities for truck drivers are increasing, ranging from minor to major afflictions. Moreover, as the truck-as-service works on a pay-per-use model, the reduction in the use of truck services will negatively affect market growth.

This truck-as-a-service market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global truck-as-a-service market as a part of the global trucking market within the global transportation market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the truck-as-a-service market during the forecast period.

Who are the Major Truck-as-a-Service Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:


  • AB Volvo
  • Daimler AG
  • Fleet Advantage LLC
  • Fleet Complete
  • Ford Motor Co.
  • Hino Motors Ltd.
  • Microlise Group Plc
  • Tata Motors Ltd.
  • Trimble Inc.
  • Volkswagen AG


This statistical study of the truck-as-a-service market encompasses successful business strategies deployed by the key vendors. The truck-as-a-service market is fragmented and the vendors are deploying growth strategies such as new innovations and M&A to compete in the market.

Product Insights and News

  • AB Volvo - The company offers truck-as-a-service with features such as driver support, real time monitoring and uptime services, truck services, and volvo connect. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The truck-as-a-service market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Truck-as-a-Service Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the truck-as-a-service market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global transportation market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Truck-as-a-Service Market?

Truck-as-a-Service Market Market segmentation by region

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55% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for truck-as-a-service market in North America. Market growth in this region will be faster than the growth of the market in regions.

The digital transformation in the trucking industry will facilitate the truck-as-a-service market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic positively impacted the market in 2020. According to Geotab, heavy-duty trucks are still delivering essentials despite a reduction in the overall commercial vehicle traffic across North America in 2021. On average, Canada has been operating at approximately 75% of the usual commercial transportation activities since March 15, 2020, and commercial vehicle activity is at 76% in the US. In March 2020, Geotab revealed new data insights, highlighting the impact that COVID-19 has had on commercial vehicle activities and the flow of goods across North America. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating Service Segments in the Truck-as-a-Service Market?

Truck-as-a-Service Market Segmentation

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The truck-as-a-service market share growth by the digital freight brokerage segment will be significant during the forecast period. The digital freight brokerage segment is expected to grow at a rapid pace during the forecast period owing to an increase in the use of smartphones and rising penetration of wireless connectivity and other digital platforms.

This report provides an accurate prediction of the contribution of all the segments to the growth of the truck-as-a-service market size and actionable market insights on post COVID-19 impact on each segment.


Truck-as-a-Service Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 22.19%

Market growth 2021-2025

$ 24.92 billion

Market structure


YoY growth (%)


Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 55%

Key consumer countries

US, China, Canada, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Volvo, Daimler AG, Fleet Advantage LLC, Fleet Complete, Ford Motor Co., Hino Motors Ltd., Microlise Group Plc, Tata Motors Ltd., Trimble Inc., and Volkswagen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Truck-as-a-Service Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive truck-as-a-service market growth during the next five years
  • Precise estimation of the truck-as-a-service market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the truck-as-a-service industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of truck-as-a-service market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Trucking (Freight)

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Service

    • 5.1 Market segments
      • Exhibit 15: Service - Market share 2020-2025 (%)
    • 5.2 Comparison by Service
      • Exhibit 16: Comparison by Service
    • 5.3 Digital freight brokerage - Market size and forecast 2020-2025
      • Exhibit 17: Digital freight brokerage - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Digital freight brokerage - Year-over-year growth 2020-2025 (%)
    • 5.4 Telematics - Market size and forecast 2020-2025
      • Exhibit 19: Telematics - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Telematics - Year-over-year growth 2020-2025 (%)
    • 5.5 Data analytics - Market size and forecast 2020-2025
      • Exhibit 21: Data analytics - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Data analytics - Year-over-year growth 2020-2025 (%)
    • 5.6 Truck platooning - Market size and forecast 2020-2025
      • Exhibit 23: Truck platooning - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Truck platooning - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Service
      • Exhibit 25: Market opportunity by Service

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 27: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 28: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 33: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 37: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 39: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 40: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 41: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 42: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 43: Landscape disruption
          • Exhibit 44: Industry risks
        • 9.3 Competitive Landscape

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 45: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 46: Market positioning of vendors
          • 10.3 AB Volvo
            • Exhibit 47: AB Volvo - Overview
            • Exhibit 48: AB Volvo - Business segments
            • Exhibit 49: AB Volvo– Key news
            • Exhibit 50: AB Volvo - Key offerings
            • Exhibit 51: AB Volvo - Segment focus
          • 10.4 Daimler AG
            • Exhibit 52: Daimler AG - Overview
            • Exhibit 53: Daimler AG - Business segments
            • Exhibit 54: Daimler AG - Key news
            • Exhibit 55: Daimler AG - Key offerings
            • Exhibit 56: Daimler AG - Segment focus
          • 10.5 Fleet Advantage LLC
            • Exhibit 57: Fleet Advantage LLC - Overview
            • Exhibit 58: Fleet Advantage LLC - Product and service
            • Exhibit 59: Fleet Advantage LLC - Key offerings
          • 10.6 Fleet Complete
            • Exhibit 60: Fleet Complete - Overview
            • Exhibit 61: Fleet Complete - Product and service
            • Exhibit 62: Fleet Complete – Key news
            • Exhibit 63: Fleet Complete - Key offerings
          • 10.7 Ford Motor Co.
            • Exhibit 64: Ford Motor Co. - Overview
            • Exhibit 65: Ford Motor Co. - Business segments
            • Exhibit 66: Ford Motor Co. - Key news
            • Exhibit 67: Ford Motor Co. - Key offerings
            • Exhibit 68: Ford Motor Co. - Segment focus
          • 10.8 Hino Motors Ltd.
            • Exhibit 69: Hino Motors Ltd. - Overview
            • Exhibit 70: Hino Motors Ltd. - Business segments
            • Exhibit 71: Hino Motors Ltd. - Key offerings
            • Exhibit 72: Hino Motors Ltd. - Segment focus
          • 10.9 Microlise Group Plc
            • Exhibit 73: Microlise Group Plc - Overview
            • Exhibit 74: Microlise Group Plc - Business segments
            • Exhibit 75: Microlise Group Plc - Key offerings
          • 10.10 Tata Motors Ltd.
            • Exhibit 76: Tata Motors Ltd. - Overview
            • Exhibit 77: Tata Motors Ltd. - Business segments
            • Exhibit 78: Tata Motors Ltd. – Key news
            • Exhibit 79: Tata Motors Ltd. - Key offerings
            • Exhibit 80: Tata Motors Ltd. - Segment focus
          • 10.11 Trimble Inc.
            • Exhibit 81: Trimble Inc. - Overview
            • Exhibit 82: Trimble Inc. - Business segments
            • Exhibit 83: Trimble Inc. - Key offerings
            • Exhibit 84: Trimble Inc. - Segment focus
          • 10.12 Volkswagen AG
            • Exhibit 85: Volkswagen AG - Overview
            • Exhibit 86: Volkswagen AG - Business segments
            • Exhibit 87: Volkswagen AG - Key offerings
            • Exhibit 88: Volkswagen AG. - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 89: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 90: Research Methodology
              • Exhibit 91: Validation techniques employed for market sizing
              • Exhibit 92: Information sources
            • 11.4 List of abbreviations
              • Exhibit 93: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts

            TechnavioREPORT WRITING


            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis


            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Truck-as-a-Service Market market growth will increase by $24.92 bn during 2021-2025.
            The truck-as-a-service market market is expected to grow at a CAGR of 22.19% during 2021-2025.
            Technavio has segmented the truck-as-a-service market market by service (Digital freight brokerage, Telematics, Data analytics, and Truck platooning) and geography (North America, Europe, APAC, South America, and MEA).
            AB Volvo, Daimler AG, Fleet Advantage LLC, Fleet Complete, Ford Motor Co., Hino Motors Ltd., Microlise Group Plc, Tata Motors Ltd., Trimble Inc., Volkswagen AG are a few of the key vendors in the truck-as-a-service market market.
            North America will register the highest growth rate of 55% among the other regions. Therefore, the truck-as-a-service market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the truck-as-a-service market market growth are:
            • Digital transformation in trucking industry
            • Adoption of blockchain in trucking
            The truck-as-a-service market market vendors should focus on grabbing business opportunities from the digital freight brokerage segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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