Global Connected Trucks Market Report 2024: Market Size, Trends and Global Forecast 2024-2033

The Business Research Company’s Global Connected Trucks Market Report 2024 – Market Size, Trends and Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 26, 2024 /EINPresswire.com/ — The connected truck market has witnessed strong growth in the last few years, growing from $30.1 billion in 2023 to $35.34 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth during the historical period is attributed to increased telematics integration, improved fuel efficiency and emissions compliance, demand for enhanced safety, fleet management optimization, and regulatory compliance.

Strong future growth expected
The connected truck market is expected to continue to grow at a strong pace, reaching $63.12 billion in 2028, growing at a compound annual growth rate (CAGR) of 15.6%. The growth during the forecast period is attributed to the increasing number of autonomous and semi-autonomous driving modes, predictive maintenance solutions, smart city initiatives, environmental sustainability goals, and data monetization opportunities.

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Growth drivers of the connected truck market
Increasing digitalization is expected to drive the growth of the connected truck market in the future. Digitalization is the use of digital technologies to change a business model and generate new revenue and value. Connected trucks are used in the digitized transportation industry to provide companies with real-time data and insights to improve their efficiency, safety and sustainability by improving bi-directional communication between trucks.

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Key players and market trends
Major players in the connected truck market include Robert Bosch GmbH, Continental AG, Denso Corporation, ZF Friedrichshafen AG, Magna International Inc., Daimler AG and Harman International.
Technological advancements are a major trend that is gaining popularity in the connected truck market. Major companies operating in the connected truck market are adopting new technologies to maintain their position in the market.

Segments:
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

Geographical insights: North America is the market leader
North America was the largest region in the connected truck market in 2023. Europe is expected to be the fastest growing region in the global connected truck market report during the forecast period. The regions covered in the connected truck market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa

Market definition for connected trucks
A connected truck is a commercial vehicle equipped with advanced technology called connected vehicle technology that enables it to communicate with other vehicles, devices and systems in its environment. This allows vehicles to communicate their location in real time with nearby vehicles and infrastructure to trigger an automatic response, making the driving experience safer.

The Connected Truck Global Market Report 2024 by The Business Research Company includes the following information:
• Market size data for the forecast period: Historical and future
• Market analysis by regions: Asia Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and much more.
Connected Truck Global Market Report 2024 by The Business Research Company is the most comprehensive report that offers insights into the connected truck market size, connected truck market drivers and trends, major players in the connected truck market, connected truck competitors’ revenues, connected truck market positioning and connected truck market growth across different regions. The report on the connected truck market will help you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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