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Connected Truck Market Value Analysis: What Growth Is Expected Over The Forecast Period?
The connected truck market has experienced substantial growth in recent years. It is anticipated to expand from $39.83 billion in 2025 to $46.37 billion in 2026, achieving a compound annual growth rate (CAGR) of 16.4%. This historical growth can be linked to factors such as the expansion of commercial transportation, the demand for fleet safety solutions, the adoption of GPS tracking, the need for improved fuel efficiency, and the development of logistics networks.
The connected truck market is projected for substantial expansion over the next few years, with its size anticipated to reach $85.2 billion by 2030, reflecting a compound annual growth rate (CAGR) of 16.4%. This projected growth throughout the forecast period is fueled by the advancement of autonomous trucking technologies, the increasing adoption of V2V and V2I communication, a heightened demand for connected logistics, the growing prevalence of electric trucks, and a dedicated effort to reduce operational downtime. Significant trends predicted for this period include vehicle-to-everything communication systems, the integration of advanced driver assistance, comprehensive connected fleet management platforms, proactive maintenance strategies for trucks, and solutions offering real-time logistics visibility.
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Connected Truck Market Growth Factors Supporting Long-Term Expansion
An anticipated increase in the average fuel efficiency is projected to drive the expansion of the connected trucks market in the future. These vehicles are defined by the distance they cover per amount of fuel utilized. This increase in fuel-efficient vehicles stems from consumers’ desire for reduced fuel usage, aiming to cut down on operational expenses and lessen their environmental footprint. Connected trucks offer benefits for fuel efficiency through optimized routes and evasion of traffic delays, subsequently decreasing fuel usage and enhancing overall efficiency. As an illustration, in January 2024, data from the European Automobile Manufacturers’ Association (ACEA), a Brussels-based industry association, indicated that new electric truck registrations in 2023 surged by 234.1% to 5,279 units, signifying a swift transition towards more fuel-efficient and connected vehicles. Consequently, this improvement in efficiency is propelling the expansion of the connected trucks market.
Connected Truck Market Segmentation And Category Breakdown
The connected truck market covered in this report is segmented –
1) By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles
2) By Range: Dedicated Short Range, Long Range Or Cellular Network
3) By Communication Type: Vehicle to Vehicle (V2V), Vehicle to Cloud (V2C), Vehicle to Infrastructure (V2I)
4) By Application: Driver Assistance, Safety, Entertainment, Vehicle Management, Mobility Management
Subsegments:
1) By Light Commercial Vehicles: Delivery Vans, Pickup Trucks, Small Cargo Vehicles
2) By Heavy Commercial Vehicles: Trucks, Trailers, Buses
Connected Truck Market Trends: What Is Shaping Future Industry Growth?
Major companies operating in the connected truck market are implementing novel technologies to maintain their competitive position. For example, in March 2023, Volvo Trucks North America, a US-based truck company, introduced the Connected Vehicle Analytics (CVA) tool. This system collects actual operational data from fleets, including current truck configurations, daily routes, average speed, and fuel usage. Through the CVA tool, dealers can monitor how fleet clients are utilizing their Volvo vehicles and identify opportunities where improved configurations could enhance their efficiency and productivity. Using Volvo Trucks’ CVA tool, dealers can obtain quantitative insights into a customer’s fleet performance and determine necessary updates and adjustments to specifications when investing in new trucks. Data is supplied concerning a range of factors that can influence how much fuel a vehicle uses and consumes.
Connected Truck Market Competitive Analysis Of Major Industry Participants
Major companies operating in the connected truck market are Robert Bosch GmbH; Continental AG; Denso Corporation; ZF Friedrichshafen AG; Magna International Inc.; Daimler AG; Harman International; Aptiv Global Operations Limited; Sierra Wireless Inc.; Mercedes-Benz Group AG; Aktiebolaget Volvo; NXP Semiconductors NV; Verizon Communications Inc.; Trimble Inc.; Geotab Inc.; Mix Telematics; TomTom International BV; Traton SE; Tata Motors Ltd.; PACCAR Inc.; DAF Trucks N.V.; WABCO Vehicle Control Systems; Stoneridge Inc.; Navistar International Corporation; Scania AB; Iveco Group NV; AT&T Fleet Complete; KeepTruckin Inc.; Omnitracs LLC
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Connected Truck Market Regional Distribution: Which Areas Drive Market Expansion?
North America was the largest region in the connected truck market in 2025.Europe is expected to be the fastest-growing region in the global connected truck market report during the forecast period. The regions covered in the connected truck market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.