Connected Trucks Market Analysis

Based on range, the dedicated short range communication segment held over 60% of the market share in 2023. DSRC facilitates direct vehicle-to-vehicle and vehicle-to-infrastructure communication, enhancing road safety through real-time data exchange. This technology is crucial for enabling cooperative intelligent transport systems, supporting features like collision avoidance and traffic management.

Additionally, DSRC-connected trucks contribute to efficient fleet management, optimizing routes and reducing fuel consumption. As the transportation industry embraces smart and connected solutions, the demand for DSRC-enabled trucks continues to rise, driven by the pursuit of enhanced safety, operational efficiency, and overall advancements in intelligent transportation systems.

Based on the vehicle, the HCV segment accounted for 57% of the connected trucks market share in 2023, propelled by the growing emphasis on fleet management efficiency and the integration of advanced technologies. Connected HCVs offer real-time monitoring, predictive maintenance, and data-driven insights, enhancing overall operational performance. Improved safety features, fuel efficiency, and compliance with regulatory standards further propel HCV sales. The demand is also fueled by the rising need for supply chain visibility, streamlined logistics, and the continuous evolution of telematics and connectivity solutions in the transportation industry.

North America connected trucks market with a major share of over 45% in 2023. The region boasts a robust logistics and transportation sector, prompting increased adoption of advanced technologies for improved fleet management and operational efficiency. Stricter regulatory standards, emphasizing safety and emissions control, drive the integration of connected solutions.

Moreover, the vast geographic expanse necessitates sophisticated tracking and monitoring systems, making connected trucks essential for logistics optimization. Strong investments in infrastructure, the presence of key industry players, and a tech-savvy market contribute to the flourishing ecosystem, positioning North America at the forefront of the connected trucks industry's growth.