Connected Truck Global Market Is Expected To Grow At A Rate Of 16% Through 2023 – 2027
26 Jun, 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%.
Global Connected Truck Market Key Driver
The rise of digitalisation is likely to take the connected truck market forward. The use of digital technologies to change a business model and generate new revenue and value is known as digitalization. Connect trucks are utilised in the digitalized transportation industry to supply organisations with real-time data and insights in order to increase efficiency, safety, and sustainability by boosting bidirectional communication between trucks.
Get a sample of the global connected truck market reportGlobal Connected Truck Market Segments
The global 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
5) By Geography: The regions covered in the connected truck market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global connected truck market.
Major Connected Truck Industry Players
Robert Bosch GmbH, Continental AG, Denso Corporation, ZF Friedrichshafen, Magna International Inc., Daimler AG, Harman International, Aptiv Global Operations Limited, Delphi Technologies, Sierra Wireless Inc., Mercedes-Benz Group AG, Aktiebolaget Volvo, NXP Semiconductors NV, Verizon Communications Inc., Trimble Inc
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Connected Truck Market Overview
A connected truck is a commercial vehicle equipped with advanced technology known as connected vehicle technology that allows it to communicate with other vehicles, devices, and systems within its environment. It enables vehicles to communicate their locations in real-time with nearby vehicles and infrastructure to trigger an automated response to enhance the driving experience with more safety.
Connected Truck Global Market Report 2023 provides data on the global connected truck market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The connected truck market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.