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Connected Trucks Market Share

Report ID: GMI3458
Published Date: Jan 2024
Report Format: PDF

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Connected Trucks Market Share

Daimler Truck SE and Volvo Trucks Corporation hold a significant market share of over 15% in the connected trucks industry. These prominent players in the market employ various key strategies to strengthen their position in the competitive landscape. Many focus on strategic partnerships and collaborations with technology providers, fleet operators, and other stakeholders.

Such alliances allow companies to leverage complementary expertise, share resources, and enhance the overall capabilities of their connected truck market. For instance, partnerships between technology firms and original equipment manufacturers (OEMs) enable the integration of advanced telematics and connectivity features directly into new truck models.

Besides, continuous innovation and product development play a pivotal role. Companies invest heavily in research and development to stay at the forefront of technological advancements. This includes the integration of artificial intelligence, machine learning, and advanced analytics into their connected truck solutions, offering more sophisticated features such as predictive maintenance, real-time data analytics, and enhanced safety measures. By consistently evolving their offerings, companies can address the evolving needs of the transportation industry and maintain a competitive edge in the dynamic market.

Connected Trucks Market Companies

Major companies operating in the connected trucks industry are:

Bosch Connected Industry
CalAmp
Continental AG
Daimler AG
Fleet Complete
Geotab
MiX Telematics
Navistar International Corporation
Omnitracs
PACCAR Inc.
Samsara Networks Inc.
Scania AB
Telefonaktiebolaget LM Ericsson
Teletrac Navman
TomTom Telematics
Trimble Inc.
Verizon Connect
Volvo Group
WABCO Holdings Inc.
ZF Friedrichshafen AG

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of connected trucks reached USD 24.3 billion in 2023 and is set to grow at 14.5% CAGR from 2024 to 2032, propelled by the rising demand for operational efficiency and cost savings.

The heavy commercial vehicle (HCV) segment held 57% share of the market share in 2023, owing to the growing emphasis on fleet management efficiency and the rapid integration of advanced technologies.

North America market accounted for more than 45% revenue share in 2023, owing to the presence of a robust logistics and transportation sector in the region.

Some of the leading connected truck companies are Bosch Connected Industry, Continental AG, Daimler AG, Fleet Complete, Geotab, Omnitracs, PACCAR Inc., Samsara Networks Inc., Telefonaktiebolaget, LM Ericsson, Scania AB, TomTom Telematics, Verizon Connect, Volvo Group, and ZF Friedrichshafen AG