Market Research Report
Connected Truck Market by Range (DSRC and Cellular), Service (Fleet Management and Cybersecurity & Updates), Component (Hardware and Software), Communication (V2V, V2I, and V2C), Vehicle (LCV and HCV), and Region - Global Forecast to 2022
|Published by||MarketsandMarkets||Product code||571421|
|Published||Content info||147 Pages
|Connected Truck Market by Range (DSRC and Cellular), Service (Fleet Management and Cybersecurity & Updates), Component (Hardware and Software), Communication (V2V, V2I, and V2C), Vehicle (LCV and HCV), and Region - Global Forecast to 2022|
|Published: October 25, 2017||Content info: 147 Pages||
"Stringent vehicle safety legislation and increasing demand for connected services are expected to fuel the demand for connected truck market"
The global connected truck market for automotive is projected to grow from USD 18.60 billion in 2017 to USD 37.64 billion by 2022, at a CAGR of 15.14%. The key factors driving the growth of the market include the increase in the vehicle safety legislation, industry compliances, and government regulations regarding safety and security of the vehicle. Other growth drivers include the increased demand for driver assistance system, which includes adaptive cruise control (ACC), blind spot warning (BSW), forward collision warning (FCW), lane departure warning (LDW), park assist system (PAS), and emergency brake assist (EBA). On the other hand, the lack of a strong network infrastructure in developing countries may hinder the growth of the connected truck market.
The fleet management service is estimated to account for the largest share of the connected truck market, by service type in 2017. Various digital systems such as GPS tracking, remote diagnostics, fuel management, and driver information system are offered as standard features in trucks by OEMs. Hence, the growth of vehicle-to-cloud (V2C) communication for the connected truck market is expected to be driven by the increasing number of digital applications in trucks. In North America and Europe, OEMs such as General Motors (US), Daimler (Germany), Volvo (Sweden), and Volkswagen (Germany) offer embedded fleet solutions in their truck models. Furthermore, these services will help the automotive companies to analyze the data generated by the TCUs, which will provide the real-time solution by OTA updates through the cloud. The updates in TCU applications and real-time data analytics are expected to drive the connected truck market for fleet management service and V2C communication.
The dedicated short-range communication (DSRC) segment is estimated to hold the largest share of the global connected truck market in 2017. This segment is estimated to grow at a significant CAGR and is expected to remain the largest market during the forecast period. The growth of the automotive DSRC segment is driven by the increasing driver assistance systems such as adaptive cruise control, park assist system, lane departure warning, and blind spot detection.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
Major players profiled in the report are:
The report segments the connected truck market and forecasts its size, by volume (for component & range) and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), range type (dedicated short-range communication and long range), service type (fleet management and maintenance & OTA updates), component type (hardware (radar & lidar sensors and microcontroller) and software), communication type (vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-cloud (V2C)) and vehicle type (light commercial vehicle (LCV) and heavy commercial vehicle (HCV)). The qualitative analysis of advanced features is also provided.
This report contains various levels of analysis, including industry analysis (industry trends, technology overview, and competitive leadership mapping), and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the connected truck market, competitive landscape matrix, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
*Details on (Overview, Strength Of Product Portfolio, Business Strategy Excellence & Recent Developments)* might not be captured in case of unlisted companies.