The Global Connected Truck Market Size Was Valued At USD 54.27 Billion In 2023 And Is Projected To Reach USD 193.92 Billion By 2032, Growing At A CAGR Of 15.2% From 2024 to 2032.

Connected trucks are equipped with sensors and modern technologies such as fleet management systems (FMS) and advanced driver assistance systems (ADAS), which display vehicle progress, driver assistance systems, fuel consumption, and other information on a screen in . The combination helps in steering their vehicles and reduces downtime. One of the main reasons for the increased demand is the desire to create more efficient travel services worldwide. Connected truck technology and electrification are two of the most important trends that are changing the trucking industry. The combination of increasing digitalization and advanced technologies in the trucking industry is expected to fuel the demand for smart trucks during the forecast period.

Key Market Participants

• 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.

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Growing Demand

Telescience has played a key role in developing unique solutions for efficient supply chain and fleet management. To maintain the integrity of telematics and processes, in order to reduce the seriousness of latency, real-time rotation is an integral part of security. Covers examination, diagnosis and essential primary policy selection. Live traffic updates, intelligent routing and tracking, rapid roadside assistance in accidents or breakdowns, automated tolling, insurance and telematics are all examples of telecom solutions They have customization and real-time connectivity.

Preventive measures

Limited network infrastructure with lack of data security and privacy hinders market growth. The proliferation of connected devices and digital platforms in the trucking industry has raised concerns about vulnerability to cyber threats and unauthorized access to sensitive data According to a cybersecurity report, computer has attacks targeting connected cars and vehicles monitoring systems increased exponentially, and data breaches, are becoming increasingly common. The potential consequences of a cyber incident in the connected trucking industry are profound, including lost revenue and operational disruption, compromised driver safety, and reputational damage to the trucking industry

The Connected Truck Market covered in this report is segmented By

By Communication Type

• Vehicle to Vehicle (V2V)
• Vehicle to Cloud (V2C)
• Vehicle to Infrastructure (V2I)

By Vehicle Type

• Light Commercial Vehicle
• Heavy Commercial Vehicle

This market is booming due to the increasing adoption of smart trucks in developed countries in North America, such as the USA, Canada, and others, coupled with improved infrastructure, besides being a key driver of the market growth in this region. The technological advancements and rising road safety concerns among the citizens are expected to fuel the rapid growth of the market during the forecast period. Furthermore, the increasing demand for more efficient logistics and transportation services due to the expanding sector will create opportunities for profitable growth.The market is expected to grow the most in Europe. Increased sales of connected trucks and early adoption of ADAS products are driving the uptake of smart trucks in Europe. Additionally, stringent government standards for road safety and comfort will drive the demand for smart trucks in the region

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Connected Truck Market Report provides insights into the following queries:
1. Market growth rate and growth momentum of Connected Truck Market for the period 2024-2032
2. The estimated size of the Connected Truck Market for the period 2017-2032
4. Sales (volume), revenue, and value analysis by regions of Connected Truck Market
5. The associated market risk, opportunity, and market overview of the Connected Truck Market
6. Major distributors, dealers, end-users, and traders of the Connected Truck Market?

Good Reasons to Buy a Global Connected Truck Market Report:

• Offers detailed market breakdown and data triangulation that will help guide the market trends.
• The methodology used in the report gives the absolute authentic data that helps advising whether the market has an opportunity in the upcoming years.
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• Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.

Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies

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