The Global Connected Truck Market Size Was Valued At USD 41.18 Billion In 2021 And Is Projected To Reach USD 107.55 Billion By 2028, Growing At A CAGR Of 14.7% From 2022 To 2028.
Connected truck provides real-time data of current fuel level, battery status, light status, and other information. Moreover, connected truck can also communicate and share data with other systems outside the truck with the aid of internet access. The growth of the connected truck market is witnessing growth, due to increase in use of telematics in automotive sector, and ease of vehicle diagnosis.
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The surge in adoption of Connected Truck in multiple regions is driven by various government digital cites initiatives and rise in the need for better natural resource management in urban environments. In addition, the growth in need for public safety and security fuel the growth of the Connected Truck market. However, security concerns associated with Connected Truck and lack of funding adequate infrastructure limit the growth of this market. Conversely, the emergence of artificial intelligence in Connected Truck and the rise in the IoT market its application in digital cities are anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
The Key Players Covered In The Connected Truck Market Report Is:
- Continental AG
- AB Volvo
- BorgWarner Inc.
- Denso Corporation
- Harman International
- Magna International Inc.
- Mercedes-Benz Group AG
- Robert Bosch GmbH
- Verizon Communications Inc.
- ZF Friedrichshafen AG
- Sierra Wireless Inc.
- Geotab Inc.
- TomTom International BV
- Trimble Inc.
- MiX Telematics And Other Major Players
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Segmentation Of Connected Truck Market:
In Market Segmentation By Communication Type, Connected Truck Market Report Covers:
- Vehicle to Vehicle (V2V)
- Vehicle to Cloud (V2C)
- Vehicle to Infrastructure (V2I)
In Market Segmentation By Vehicle Type, Connected Truck Market Report Covers:
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Market Segment By Regions And Countries Level Analysis:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Recent trends and developments in the global Connected Truck market have been analyzed. Opportunities leading to the growth of the market have been analyzed and stated. Drivers and restraints impacting the growth of the market have also been analyzed. A segmentation of the global Smart market has been done for the purpose of a detailed study. The market is segmented on the basis of key criteria. Data on the leading and fastest-growing segments along with what drives them has been given. This report implements a balanced mix of primary and secondary research methodologies for its analysis.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected truck market analysis from 2022-2028 to identify the prevailing connected truck market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the connected truck market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global connected truck market trends, key players, market segments, application areas, and market growth strategies.
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