The Connected Truck Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Connected Truck Global Market Report 2024, The connected truck market size has grown rapidly in recent years. It will grow from $30.1 billion in 2023 to $35.34 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to increased telematics integration, increased fuel efficiency and emission compliance, demand for enhanced safety, fleet management optimization, regulatory compliance.
The connected truck market size is expected to see rapid growth in the next few years. It will grow to $63.12 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to increasing autonomous and semi-autonomous driving, predictive maintenance solutions, smart city initiatives, environmental sustainability goals, data monetization opportunities. Major trends in the forecast period include predictive maintenance solutions, enhanced telematics and fleet management, integration of iot sensors, eco-friendly solutions, driver assistance systems.
The rise in the fuel-efficient average is expected to propel the growth of the connected trucks market going forward. Fuel-efficient vehicles refer to the distance traveled per unit of fuel consumed. Connected trucks can be helpful for fuel efficiency by optimizing routing and avoiding traffic slowdowns, which can reduce fuel consumption and improve efficiency. For instance, according to the Department of Energy, a US-based government department, by 2021, the average fuel economy for the sedan class had risen to 31.7 mpg. Therefore, the rise in the fuel-efficient average is driving the connected trucks market.
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The connected truck market covered in this report 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
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 report table of contents includes:
1. Executive Summary
2. Connected Truck Market Characteristics
3. Connected Truck Market Trends And Strategies
4.Connected Truck Impact Of Market analysis
5. Connected Truck Market Size And Growth
6.Connected Truck Segmentation
7.Connected Truck Regional And Country Analysis
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27. Connected TruckCompetitive Landscape And Company Profiles
28.Connected Truck Key Mergers And Acquisitions
29. Connected Truck Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- ZF Friedrichshafen AG
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Connected truck is equipped with advance technology such as advanced driver assist system (ADAS) and fleet management system (FMS), which broadcast on the screen vehicle improvement, fuel management, driver assist system and others.
Major truck manufacturers have developed connected trucks and are planning to upgrade the connected trucks with improved technologies.Trucks are employed with features that provide the driver instant status information and control of the vehicle remotely.
The driver can check status information like current fuel level, battery status, light status, and other information.
The connected truck includes features such as lane keep assist system (LKAS), blind spot detection (BSD), lane departure warning (LDW), and emergency brake assist (EBA), which provides safety to the drivers as well as pedestrians and other cars.
This is expected to boost the connected truck market during forecast period.Get Exclusive Sample Report @ https://dataintelo.com/request-sample/?reportId=49330The connected truck is incorporated with features that reduce time for workshop by providing exact location and the chassis ID and can pass on any diagnostic trouble codes to the technician, thereby making the truck more efficient.
The automotive industry is estimated to witness an increase in adoption of the connected truck due to technological advancements in the automotive industry.Read More @ https://www.marketwatch.com/press-release/connected-truck-market-2019-global-industry-analysis-size-growth-and-forecast-2019-12-05
The global connected truck market is anticipated to register a CAGR of about 17.32% during the forecast period (2019 – 2024).- Currently, connecting machines without a human interface is the latest technology trend.
Nearly 40% of fleet managers believe that connected trucks are necessary as different countries are making smart roads and smart cities.
Some of the latest trends in the market are, the Internet of Things in trucks, artificial intelligence, autonomous technologies, 3D printing, and its impact and value proposition to the global logistics industry.
The increasing use of telematics in the truck is also one of the significant trends in the market.Access the PDF sample of the report @ https://www.orbisresearch.com/contacts/request-sample/3587556Scope of the ReportThe global connected truck market has been segmented by vehicle type, range, communication type, and geography.Key Market TrendsGrowing Demand and Use of Telematics in Commercial Vehicle MarketTelematics plays a significant role in developing unique solutions for efficient supply chain logistics and fleet management.
Telematics provides real-time visibility and data to optimize procedures and processes, maintaining product integrity, optimizing shelf-life, reducing losses and insurance risk across the supply chain.
Telematics is becoming a critical component in commercial logistics and supply chains because it addresses key challenges related to safety and regulatory compliance, driver monitoring, insurance, and infrastructure.Telematics solutions integrate capabilities like live traffic updates, smart routing and tracking, rapid roadside assistance in case of accidents or breakdown, automatic toll transactions and insurance telematics.
Volvo Trucks India is a classy commercial vehicle manufacturing company.
Following, we are going to shortlist a few top Volvo truck models with their complete features and price.
Volvo FH 520 Puller TractorVolvo FH 520 Puller Tractor is a superb tractor truck that comes with effective qualities and features that provide wonderful work.
It is manufactured with 520 HP, 2 engine cylinders, Volvo D13A, DI Turbocharged Intercooled, with Engine Management System (EMS) engine that generates 2500 Nm max torque.
of fuel tank capacity with 200000 KG GVW.
90 Lakh - 90.11 Lakh*.
