Market Overview

Global Connected Truck Market 2018-2022 to Post 30% CAGR | Technavio

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Technavio
analysts forecast the global connected truck market to grow at a CAGR of
nearly 30% during the forecast period, according to their latest
market research report.

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Technavio has published a new market research report on the global connected truck market from 2018- ...

Technavio has published a new market research report on the global connected truck market from 2018-2022. (Graphic: Business Wire)

The upgrade to higher SAE automation levels and the advent of truck
platooning are some of the major trends being witnessed in the global
connected truck market 2018-2022
. Truck platooning, which is a
concept devised from connected truck technologies, can be enabled in
trucks that are engineered with level 2 automation. Developments in the
Cooperative Adaptive Cruise Control (CACC) technology has resulted in
the emergence of truck platooning.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to
the growth of the global connected truck market is the growing need for
fleet management solutions:

Global connected truck market: Growing need for
fleet management solutions

The logistics sector has been the largest contributor to fleet
management services in the telematics industry. This is because of the
increased consolidation of logistics players and demand for fleet
tracking to mitigate transit losses. The demand for telematics in the
logistics sector is driven by the need to reduce dual expenses. Fleet
management services reduce the number of empty runs by the fleet,
thereby reducing the overall fuel costs.

According to a senior analyst at Technavio for research on automotive
manufacturing, "Fleet management solutions are used by several fleet
owners to reduce the overall vehicle downtime. Fleet management
solutions have significantly evolved over time. Traditional fleet
management solutions offer basic telematics services, such as fleet
tracking with the global positioning system and geographical information
system. At present, fleet management solutions offer features that
include vehicle management, load monitoring, driver management, and
logistics management. In regions such as Europe, the growing need for
effective fleet management services is driving the demand of telematics
systems, including among small-fleet owners."

Global connected truck market: Segmentation
analysis

The global connected truck market research report provides market
segmentation by application (light commercial vehicle and heavy
commercial vehicle), and by region (the Americas, EMEA, and APAC). It
provides an in-depth analysis of the prominent factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

The light commercial vehicle segment held the largest market share in
2017, accounting for nearly 70% of the market. This application segment
is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with a market share of nearly 48%.
This region is expected to dominate the market through 2022, however,
there will be a decrease in its market share by nearly 5%.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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