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.

A "connected truck" refers to a commercial vehicle equipped with advanced technology that allows it to communicate with other vehicles, infrastructure, and a central system. This connectivity is typically achieved through telematics systems, which use sensors, GPS, and communication networks to gather and transmit data. This data can include information on vehicle performance, location, and driver behavior, all of which are sent to fleet managers or other stakeholders in real time.

The primary benefit of connected trucks is improved operational efficiency. Fleet managers can monitor vehicle performance and driver behavior, optimizing routes, maintenance schedules, and fuel consumption. This real-time data helps reduce costs and increase productivity by allowing for proactive maintenance and better route planning.

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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Drivers:

Rising Demand for Telematics in Commercial Vehicles

Telematics plays a significant role in the development of new strategies for efficient fleet management and supply chain logistics. Telematics provides real-time data and insight into the supply chain to enhance workflows, maintain product integrity, increase shelf life, and reduce insurance risks. Telematics is becoming more significant in commercial logistics and supply chains because it addresses significant difficulties with safety and regulatory compliance, driver monitoring, insurance, and infrastructure.

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

Europe region dominates the Connected Truck Market. Connected Trucks and autonomous trucks are evident in the automotive industry, which is transitioning from a hardware-focused to one that is more driven by software and (digital) services. About other services and technology, connectivity is specifically considered a catalyst for innovation in the sector106. An increase in innovation in the realms of digital and Information and Communications Technology (ICT) technologies serves as an example of this change. In 2010, connection, Advanced Driver Assistance Systems (ADAS), and interfaces accounted for around 26% of OEMs advancements.

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:

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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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