LONDON–(BUSINESS WIRE)–Technavio has been monitoring the global truck-as-a-service market and the market is poised to grow by USD 19.43 billion during 2019-2023 at a CAGR of almost 22% during the forecast period. Request Free Sample Pages
Read the 116-page research report with TOC on “Truck-as-a-Service Market Analysis Report by Service (Digital freight brokerage, Telematics, Data analytics, and Truck platooning), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 – 2023.”
The market is driven by the increase in the implementation of loT in trucking. In addition, the adoption of blockchain in trucking is anticipated to further boost the growth of the truck-as-a-service market.
The mobile and connectivity advancements in IoT and the advent of IoT gadgets is positively influencing the trucking industry. Various trucking operations such as geo-fencing, smart inventory management, fleet management, optimal asset utilization, and public transit management are managed by IoT. The integration of IoT in the trucking services enables companies to manage the performance of their fleets and address issues such as sudden breakdowns in the middle of a route. Thus, the increase in the implementation of loT in trucking is expected to drive market growth during the forecast period.
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Major Five Truck-as-a-Service Market Companies:
Daimler AG
Daimler AG is headquartered in Germany and operates the business under various product segments such as Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. The company offers connected trucks, truck leasing, TruckStore, CharterWay, and other services.
Fleet Advantage LLC
Fleet Advantage LLC is headquartered in the US and offers services through the following business units: Truck fleet leasing, Truck fleet asset management, Truck fleet technology, and Used trucks. The company offers Truck data Analytics, ATLAAS, EXchangeIT, and other services.
Fleet Complete
Fleet Complete is headquartered in Canada and operates under the business segment, Telematics. The company offers safety and compliance management, asset management, fleet management, and other services.
Trimble Inc.
Trimble Inc. is headquartered in the US and offers services through the following business segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The company offers SmartDelivery, myRoads, ConnectedDriver, myMedia, In-Cab Scanning, Fault Intelligence, and other services.
Volkswagen AG
Volkswagen AG is headquartered in Germany and offers services through the following business segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services. The company offers Driverless Scania and MAN trucks, MAN DigitalServices, RIO, MAN Rental, and other services.
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Truck-as-a-Service Service Outlook (Revenue, USD Million, 2019 – 2023)
- Digital freight brokerage
- Telematics
- Data analytics
- Truck platooning
Truck-as-a-Service Regional Outlook (Revenue, USD Million, 2019 – 2023)
- APAC
- Europe
- MEA
- North America
- South America
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