Global Connected Truck Market Size, Share And Growth Analysis For 2024-2033
Connected Truck Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Connected Truck Global 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 experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated3
The connected truck market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Connected Truck Market
The rise in digitalization is expected to propel the growth of the connected truck market going forward. Digitalization is the use of digital technologies to alter a business model and generate new revenue and value. Connect trucks are used in the digitalized transportation industry to provide businesses with real-time data and insights to improve their efficiency, safety, and sustainability by enhancing the bi-directional communication between the trucks.
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Major Players And Market Trends
Key players in the connected truck market include Robert Bosch GmbH, Continental AG, Denso Corporation, ZF Friedrichshafen AG, Magna International Inc., Daimler AG, Harman International.
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.
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 Leading The Market
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, Africa
Connected Truck Market Definition
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 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Connected Truck Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on connected truck market size2, connected truck market drivers and trends, connected truck market major players, connected truck competitors' revenues, connected truck market positioning, and connected truck market growth across geographies. The connected truck market report helps 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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