Connected trucks use devices and technologies to communicate or gather information about commercial vehicles, along with other entities such as vehicles, infrastructure, pedestrians or cloud. Systems falling under the DAS (adaptive cruise control, blind spot detection systems, etc.), telematics, and security systems that allow a vehicle to communicate and exchange information have been considered as connected devices for trucks. Connected devices allow V2V, V2I, V2P, and V2C communication. Connected trucks are connected to back-end IT-infrastructure of governments and corporations. These vehicles regularly share data with those infrastructures and receive value added services such as safety service, traffic service, security service, etc., that enable safe driving.

The commercial vehicle manufacturers are taking several initiatives to expand the advanced innovation in their trucks. With the electrification and digitization of various components, infotainment, telematics systems, and autonomous driving are becoming an integral part of high-end automobiles. Most of these technologies use real-time data for live traffic, road conditions, and roadside help during a breakdown. The commercial vehicle is increasingly equipped with advanced driver assistance systems (ADAS) such as adaptive cruise control (ACC), lane departure warning (LDW), blind spot detection, and park assist system to enhance the safety of drivers as well as pedestrians. Also, automakers are looking forward to enhance customer satisfaction with the help of cybersecurity & over-the-air (OTA) updates to rectify the bugs generated in the software of various applications. The advancement in connected features will increase the overall operational efficiency and vehicle performance of fleet operators. The global connected truck market is valued at USD 18.60 Billion in 2017. Some of the key market drivers are increasing industry compliance norms and government mandates supporting connected technology in commercial vehicles. Also, the vehicle data updates, which are generated by the telematics control unit (TCU), will help to reduce the overall recalling cost of OEMs and increase customer satisfaction. The global connected truck market is segmented by range type, service type, vehicle type, component type, communication, and region. The report segments the connected truck market by range type into dedicated short-range communication (DSRC) and long-range communication. The DSRC segment accounts for the largest share of the global connected truck market and is estimated to grow at the highest CAGR during the forecast period. The growth of automotive DSRC segment is expected to be driven by increasing radar and LiDAR-based safety systems such as adaptive cruise control, lane departure warning, blind spot detection, and park assist system. Also, the report segments the connected truck market into three distinct types of communications, namely, vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-cloud (V2C). Further, to estimate the market size for different vehicle segments, the connected truck market is segmented into the light commercial vehicle (LCV) and heavy commercial vehicle (HCV). By component type, the connected truck market is segmented into hardware and software. The hardware segment is further divided into radar & LiDAR sensor and microcontroller. The study also segments the global connected truck market by service type into fleet management and maintenance. The extensive study has been done in four key regions, namely, Asia Pacific, Europe, North America, and the Rest of the World (RoW). The vehicle-to-cloud (V2C) communication is estimated to account for the largest share of the global connected truck market for automotive, by communication, in 2017. Vehicle-to-vehicle (V2V) communication is estimated to be the second largest segment of the connected truck market, followed by vehicle-to-infrastructure (V2I). The others segment includes user interface programs and applications. The connected truck market for V2V segment is projected to grow at the highest CAGR during the forecast period due to increasing number of connected devices in trucks. Various automotive OEMs, especially in North America and Europe, are offering connected devices for short-range communication in their vehicles. OEMs such as General Motors (US), Daimler (Germany), Volvo (Sweden), and Volkswagen AG (Germany) provide connected devices in their commercial vehicle models. North America is estimated to account for the largest market share, followed by Asia Pacific, Europe, and Rest of the World (RoW), respectively. North America is estimated to be the largest market during the forecast period due to various factors such as increasing connected car devices in commercial vehicles, increasing digitization of various services in fleet management, and cybersecurity & updates. In terms of growth, the Asia Pacific connected truck market is estimated to grow at the highest CAGR during the forecast period. The market growth in Asia Pacific is driven by the increasing number of connected car devices in vehicles and growing communication and information technology infrastructure such as 4G LTE or 5G. Some of the major restraints identified in the global connected truck market are lack of supporting infrastructure in developing countries and threats to cybersecurity. These factors may hinder the growth of the connected truck market to some extent.

Connected Truck Market vendors are placed into 4 categories based on their performance and reviews in each criterion: “visionary leaders,” “innovators,” “dynamic differentiators,” and “emerging companies".

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.