Connected Truck Market Size, Share, and Growth Analysis, By Communication Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I)), By Range, By Vehicle Type, By End-Use Industry, By Region - Industry Forecast 2025-2032

Global Connected Truck Market size was valued at USD 26.39 billion in 2023 and is poised to grow from USD 31.17 billion in 2024 to USD 117.95 billion by 2032, growing at a CAGR of 18.1% during the forecast period (2025-2032).

The market for connected trucks is experiencing significant growth, driven by increasing demand for fleet management solutions, advancements in vehicle-to-everything (V2X) technology, and the rise of smart cities. The surge in e-commerce and last-mile delivery is propelling the need for efficient fleet management, with companies utilizing real-time data from connected trucks to enhance route optimization, monitor vehicle performance, and lower fuel expenses. These connected vehicles are integral to meeting the logistics challenges associated with tight delivery timelines and customer demands. However, challenges such as integration complexities, lack of standardization, connectivity issues in remote regions, and resistance from drivers may impede the growth of the global connected truck market through 2032 and beyond.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Connected Truck market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Connected Truck Market Segments Analysis

Global Connected Truck Market is segmented by Communication Type, Range, Vehicle Type, End-Use Industry and region. Based on Communication Type, the market is segmented into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I) and Vehicle-to-Cloud (V2C). Based on Range, the market is segmented into Dedicated Short-Range Communication (DSRC) and Long-Range (Telematics Control Unit). Based on Vehicle Type, the market is segmented into Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV). Based on End-Use Industry, the market is segmented into Logistics & Transportation, Construction, Utilities and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Connected Truck Market

The global connected truck market is being significantly propelled by increasing investments in the research and development of innovative Vehicle-to-Everything (V2X) technologies. These advancements facilitate communication between trucks, infrastructure, other vehicles, and various networks, resulting in improved road safety and enhanced traffic efficiency. By reducing collisions, optimizing fuel consumption, and allowing real-time monitoring of vehicle health, V2X technology proves to be essential in boosting the sales of connected trucks. As these technologies continue to evolve, their critical impact on the logistics industry will likely drive further market growth and adoption on a global scale.

Restraints in the Global Connected Truck Market

The connected truck technology has existed for some time but remains in its early developmental phase. This lack of maturity results in the absence of universal standards and guidelines for connected trucks within the industry. Various manufacturers and service providers frequently employ proprietary systems that fail to interoperate, leading to fragmentation. This situation complicates integration for logistics operators managing multiple brands, hindering their ability to achieve seamless interoperability across fleets. Additionally, this fragmentation restricts scalability and complicates maintenance, ultimately posing significant challenges to the growth and efficiency of the global connected truck market.

Market Trends of the Global Connected Truck Market

The Global Connected Truck market is witnessing a significant trend driven by the integration of 5G technology and edge computing. This advancement enables real-time data exchange between trucks, traffic lights, road infrastructure, and other vehicles, significantly enhancing both safety and operational efficiency. Logistics companies are investing heavily in upgrading their telematics systems to leverage 5G's capabilities fully, reducing reliance on cloud services, and allowing for faster decision-making directly on the vehicles. Consequently, this trend not only promises improved fleet performance but also positions connected trucks as a central element in the evolution of the logistics and transportation sectors, making it a highly attractive growth area moving forward.