Global connected truck market is anticipated to grow at a CAGR of 16.5% during the forecast period (2024-2031). A connected truck is equipped with various sensors and modern technologies, such as a fleet management system (FMS) and an advanced driver assist system (ADAS), which display vehicle improvements, driver-support systems, fuel management, and other information on the screen. Connectivity aids in the direction of their fleets and decreases vehicle downtime. Hence, these trucks are far better and more efficient for all purposes. Therefore, many market players are working on the development of these trucks. For instance, in October 2023, Volvo Trucks North America introduced a new fleet management portal designed to make it easier for trucking operations to monitor the health and performance of their vehicles and drivers through connected vehicle technology. The new service, named Volvo Connect, provides a central portal for fleet managers to access Volvo’s digital services, along with analytics and reports on key metrics such as fuel consumption, idle time, vehicle speed, vehicle location, and seat belt usage. Volvo announced the new fleet management tool in a press conference at the American Trucking Associations’ 2023 Management Conference & Exhibition.
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The rise of e-commerce is leading to increased demand for efficient and reliable freight transportation, which is driving the adoption of connected trucks. Hence, the demand for autonomous vehicles is on the rise in the business sector for which many market players are focusing on product launches. For instance, in January 2024, Ryder System, Inc. and Kodiak Robotics, Inc., announced a collaboration to leverage Ryder’s service network to enable the commercialization and scaling of Kodiak’s autonomous truck solution. To start, Kodiak and Ryder established their first truck port in Houston, strategically located at an existing Ryder fleet maintenance facility. The truckport, which opened in December, enables Kodiak to launch and land autonomous trucks as well as transfer freight to serve routes between Houston, Dallas, and Oklahoma City.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Communication Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Robert Bosch GmbH, Continental AG, Denso Corp, Aptiv Global Operations Ltd, ZF Friedrichshafen AG, NXP Semiconductors NV, Magna International Inc., Sierra Wireless among others.
Key questions addressed by the report.
Global Connected Truck Market Report Segment
By Communication Type
By Vehicle Type
Global Connected Truck Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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