Connected Truck Market Scope
Connected trucks refer to the autonomous trucks which can send and receive data. The emergence of connectivity solution and technological advancement in the automobile industry propelling the connected trucks market growth. For instance, Volvo Trucks launched first connected, electric, and autonomous solution intended for projects in factories, ports, logistics centers. Further, the growing focus on telematics in the connected trucks expected to drive the demand for connected trucks market over the forecasted period.
According to AMA, the Global Connected Truck market is expected to see growth rate of 16.57%Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Connected Truck market throughout the predicted period.
Bosch (Germany), Continental (Germany), Verizon Communications (United States), Harman International (United States), Denso Corporation (Japan), Magna (Canada), Delphi (United Kingdom), Trimble (United States) and NXP (Netherlands) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Sierra Wireless (Canada), Tomtom (Netherlands) and ZF Friedrichshafen AG (Germany).
Segmentation Overview
The study have segmented the market of Global Connected Truck market and Region with country level break-up.
On the basis of geography, the market of Connected Truck has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Need for Vehicle Connectivity in Transportation and Logistics Industry and Technological Advancement in the Automobile Industry
Market Growth Drivers:
Increasing Demand in the Heavy Commercial Vehicles and Emergence of Telematics in the Connected Trucks
Challenges:
Limited IT Infrastructure in the Low and Middle Income Group Countries
Restraints:
Threats Related to Cybersecurity of Vehicle and Stringent Government Regulations Regarding Vehicle Safety
Opportunities:
Emphasizing On Development of Autonomous Trucks and Rising Demand from the Developing Economies
In January 2019, Volvo Trucks announced that Volvo Trucks’ electric, connected and autonomous vehicle Vera will be used for transporting goods from a logistics center to a port terminal in Sweden.
Key Target Audience
Automobile Manufacturers, Connected Car Devices Manufacturers, Automobile Organizations/Associations, Cloud Service Providers, Potential Investors, Associations, Organizations, Forums, and Alliances, Government Bodies and Departments, Research Institutes, Business Consulting Firms and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.