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Connected Truck Market by Range Type (Dedicated Short Range and Long Range/Cellular Network), by Services Type (Fleet Management and Maintenance), by Vehicle Type (Light Commercial Vehicles and Heavy Commercial Vehicles), by Component Type (Hardware and Software), and Communication Type (Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), and Vehicle-To-Cloud (V2C)): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09614
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Aug 2021 | 520 Views
 
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COVID-19

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Connected Truck Market Outlook - 2027

The digital transformation and connectivity solutionareradically transforming the automotive industry. The connected truck is one such transformation which has revolutionized the global transportation completely. Moreover, connected truck is integration of the advanced digital-age technologies like advanced driver assist system and fleet management system. The connected truck can communicate with other systems outside the truck and share data through internet access. Besides, connected truck can maximize productivity with the help of artificial intelligence.The truck provides real-time data of current fuel level, battery status, light status, and other information. With the help of IoT, real time traffic control, interaction with the truck manufacturer service for remote diagnostics and improved company logistics automation is now possible.

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast units

Value (USD)

Segments covered

Range type, service type, vehicle type, component type, communication type

Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

Companies covered

Robert Bosch GmbH, Continental AG, ZF Friedrichshafen, Daimler AG, Volvo, Delphi Technologies, Denso Corporation, HARMAN International, Sierra Wireless, Inc., and Magna International Inc.

COVID-19 scenario analysis:

  • The coronavirus containment measures coupled with other hurdles are weakening the automotive sector.
  • Besides, crew shortages for unloading the truck have decreased the logistics business.
  • Additionally, production stoppage due to lockdown imposed is creating an obstacle for revenue generation.
  • However, logistics being the central unit of any business, is expected to regrow with time.
  • As work from home is widely adopted due to the pandemic, consumers planning to buy commercial vehicle will procure connected truck over conventional truck as work trucks can be tracked for entry or exit from the location and monitored from home with the help of IoT.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

The safety features equipped in connected truck like blind spot detection, lane keep assist system, lane departure warning, emergency brake assist and others is proliferating the market growth. Additionally, government norms for safety measures are increasing the demand for connected trucks. However, as truck become more connected to the internet, they can become greater targets for hackers and provide opportunity for people to be digitally spied on or for criminals to gain other personal information through driving habits, which in turn, is hampering the market growth. Moreover, the features like self-diagnosis saves time for repairing as well as reduces lead time for delivery, further driving the connected truck market growth.

The connected truckmarket trends are as follows:

Use of telematics is bolstering the market

Telematics play a major role in supply chain and fleet management. Telematics is a method of monitoring the connected truck by using GPS and provides real-time visibility and data to optimize the entire supply chain. Besides, telematics provides live traffic updates, smart routing and tracking, roadside assistance in case of accidents or breakdown and automatic toll transactions. Companies are investing huge amount in advancement of telematics. For instance, in 2018, Softbank invested in Cambridge Mobile Telematics (CMT) company to provide safety solution.

Partnership to drive the connected truck market

Making connected transport a reality requires a diverse ecosystem of players. As automotive IoT continues to gain momentum, many industries and technologies would be dependent on each other in complex, symbiotic partnership to provide enhanced productivity. Besides, the optimum quality of work is achieved. In 2020, Daimler trucks has partnered with Platform science, the developer of a leading platform for on-vehicle mobile applications offering advanced fleet management software solutions.

Key segments covered:

Segments

Sub-segments

Range type

  • Dedicated Short Range
  • Long Range/Cellular Network

Services type

  • Fleet Management
  • Maintenance

Vehicle type

  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Component type

  • Hardware
  • Software

Communication type

  • Vehicle-To-Vehicle (V2V)
  • Vehicle-To-Infrastructure (V2I)
  • Vehicle-To-Cloud (V2C)

 

Key benefits of the report:

  • This study presents the analytical depiction of the connected truck industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the connected truckmarket growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the connected truck market research report:

  • What are the leading market players active in the connected truck market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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