The report connected truck market (By Range (Dedicated Short Range Communication (DSRC) (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Collision Warning (FCW), Lane Departure Warning (LDW), Park Assist System (PAS), and Emergency Brake Assist (EBA)))-By Components Type (Hardware, Radar & Lidar Sensors, Microcontrollers, and Software)- By Communication Type (Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), and Vehicle to Cloud (V2C))-By Service (Fleet Management Service, Tracking & Monitoring, Fleet Analytics, Driver Information System, Remote Diagnostics, Fuel Management System, and Maintenance Service (Cyber security & Ota Updates))-By Vehicle Type (Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)) –by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America))- is expected to reach US$ 68.23 Bn by 2026 from US$ 16.75 Bn in 2016 at CAGR of 15.08 %

Increase in demand for technologically advanced systems in heavy vehicles is anticipated to be a key factor that is likely to drive the connected truck market during the forecast period. The connected truck includes features such as lane keep assist system (LKAS), blind spot detection (BSD), lane departure warning (LDW), and emergency brake assist (EBA), which provides safety to the drivers as well as pedestrians and other cars. This is estimated to boost the connected truck market during forecast period. Government regulation on safety concerns for heavy commercial vehicles across the globe are also anticipated to drive the connected truck market. The connected truck is incorporated with features that reduce time for workshop by providing exact location and the chassis ID and can pass on any diagnostic trouble codes to the technician, thereby making the truck more efficient.

Hardware segment holds major market share of connected trucks

Based on components, the connected truck market can be segmented into two types. Among which hardware segment holds major market share of connected trucks. The hardware segment can be further sub-segmented into sensors, cameras, electronic components, and others. Higher adoption rate and easy availability of components is anticipated to drive the connected truck market during the forecast period.

The heavy commercial vehicles segment accounts for larger share of the connected truck market

Based on vehicle type, the connected truck market can be classified into two types. Among vehicle types, the heavy commercial vehicles segment accounts for larger share of the connected truck market, as compared to the other segment. This is due to infrastructure advancement and increased application in heavy commercial vehicle.
North America and Europe account for a major share of the global connected truck market

In terms of region, North America and Europe account for a major share of the global connected truck market due to the expansion of the automotive sector in these regions, leading to an increased number of connected truck. Connected trucks in these regions are expected to witness significant growth during the forecast period owing to higher adoption rate and improved infrastructure.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Robert Bosch GmbH, Continental AG, ZF Friedrichshafen, Daimler AG, Volvo, Delphi Technologies, and Denso Corporation.

Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the connected truck market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the connected truck market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain connected truck market  positioning of competitors.

Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Connected Truck Market

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