The report of Truck-as-a-Service Market by Service Type (Digital Freight Brokerage, Platooning, Digital Retailing, Double Coupling, Thomson Coupling, Blockchain), End User (Commercial/Residential, Pharmaceutical & Healthcare, Commercial/Residential, Food & Beverages), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ xx Mn. by 2027, at a CAGR of 21 % during a forecast period.
Inclusion of digitalization and advance technologies in trucking industry is offering reliable business strategies. The various stakeholders and OEMs are building solution and service based revenue model. Increasing commercial trucks demand with advance telematics devices which integrate with system. Truck as a service is offering flexibility in service, improved efficiency of freight and , also reduces cost of trucking. The commercial aspects of each service revenue model are discussed in the report.
The trucks manufacturers are focusing on thetoincorporatincorporation of thee new technologies in their truck which will help in growth of trucking industry, which will ultimately benefits to the growth in sales of trucks.The analysis of the market estimated that the Truck as a Service market is growing at 21% CAGR and expected that the demand will further grow with new technological ogy developments.
Market Overview
E-commerce is the most important factor for the growth of the global truck-as-a-service market, owing to the growth of internet connectivity and increased number of smartphone users. is increased from last few years. Online shopping and online selling is growing and directly impacting the global truck-as-a-service market. The E-commerce industry providing more business than the local payloads and it is estimated expected that the e-commerce business will grow widely with availability of parcel delivery to remote places.
Truck driver shortage
The peoples are mostly unwilling to choose truck driving as a profession and the working drivers are taking retirement. This is due to health issues and health related fatalities are increasing among truck drivers, this causing harm to the trucking business. Mostly the truck drivers are provided work pay as the use of truck; the truck service use reduction will reduce their earning and negatively affecting market growth.
Global Truck-as-a-Service Market Share by End Use Industry
The Global Truck-as-a-Service Market is segmented by Service Type, end use industry, and region. The Digital Retailing segment is showing highest growth with CAGR xx%. In several countries E-Commerce industry is in trend, customers are demanding online solution and convenience driving the growth of Truck as a Service market. The Truck service market have different End User industry such as Pharmaceutical & Healthcares, FMCGs, Chemicals, and Food & Beverages, among this, types FMCG is dominating the market and it is expected to maintain its growth in forecasted period.
Global Truck-as-a-Service Market: Segmental Overview
Digital freight brokerage, business analytics, telematics services, platooning and digitalization of retail segments are expanding the Truck as a service market from $14.26 billion in 2019 to over $xx billion in 2027. Digital freight brokerage is projected to be the highest service in terms of revenue generation and high opportunity with potential of $74.14 billion. The 2019 global telematics devices market is accounted to grow from 31.17Mn. units in 2019 to xx Mn in 2027, growing at a CAGR of 16.11%.
Global Truck-as-a-Service Market: Regional Overview
The Global Truck-as-a-Service Market is segmented in to various regions such as North America, Europe, Middle East & Africa, South America, and Asia Pacific. North America is the dominating market for the Truck as a service market in terms of revenue generation, owing to the fact that the North America region is showing jump in installation of telematics devices. , The digital transformation fueling the market with connected devices use, which creates transparency and visibility across the supply chain. Asia Pacific market is accounted to be leading market in terms of value in forecasted period.
Key players operating in the Truck-as-a-Service Market areDaimler AG, Fleet Advantage LLC, Fleet Complete, Trimble Inc., Volkswagen AG, TRATON Group, MAN Trucks, Tata Motors , Nikola Motor Company, Daimler AG, Traton SE, Scania AB, PACCAR Inc., Navistar International.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Truck-as-a-Service Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an 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 dynamicsand future opportunities that might exist in the Truck-as-a-Service Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Truck-as-a-Service Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Truck-as-a-Service Market.”
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