USD 24.92 Bn growth opportunity in Truck-as-a-Service Market | Digital transformation in the trucking industry to drive growth | Technavio
The 120-pages report segments the market by service (digital freight brokerage, telematics, data analytics, and truck platooning) and geography (North America, Europe, APAC, MEA, and South America).
NEW YORK, May 13, 2022 /PRNewswire/ -- The "Truck-as-a-Service Market by Service and Geography - Forecast and Analysis 2021-2025" has been added to Technavio's offering. The 120-pages report segments the market by service (digital freight brokerage, telematics, data analytics, and truck platooning) and geography (North America, Europe, APAC, MEA, and South America). The report identifies AB Volvo, Daimler AG, Fleet Advantage LLC, Fleet Complete, Ford Motor Co., Hino Motors Ltd., Microlise Group Plc, Tata Motors Ltd., Trimble Inc., and Volkswagen AG as dominant players in the market.
Technavio expects the global truck-as-a-service market to observe an incremental growth of USD 24.92 billion between 2020 and 2025, expanding at a CAGR of 22.19% during the forecast period.
Download a Sample Report for highlights on the market size, growth momentum, and other important statistics.
The market is fragmented and is characterized by a significant number of established vendors. The competition level in the market is increasing with rise in technological innovations. Major vendors are focusing on the introduction of electric trucks to meet the needs of end-users, such as fleet operators. For instance, in January 2019, Daimler delivered the first all-electric Freightliner eM2. Such new innovations are likely to provide vendors with a competitive edge over their counterparts.
Although the digital transformation in the trucking industry will offer immense growth opportunities, the shortage of truck drivers will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Purchase our full report for detailed insights on the vendor landscape, new products offered by vendors, and the factors impacting their growth.
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Truck-as-a-Service Market 2021-2025: Segmentation
The global truck-as-a-service market is segmented as below:
- Service
- Digital Freight Brokerage
- Telematics
- Data Analytics
- Truck Platooning
The digital freight brokerage segment is expected to grow at a rapid pace during the forecast period owing to an increase in the use of smartphones and rising penetration of wireless connectivity and other digital platforms. In addition, the launch of several digital freight brokerage platforms to fulfill the increasing demands of end-users will contribute to the growth of the segment.
- Geography
- North America
- Europe
- APAC
- MEA
- South America
North America is expected to account for the largest share in the global truck-as-a-service market during the forecast period. The US and Canada are the major revenue contributors in the region. The increasing demand for truck rental services from both businesses and households is driving the growth of the regional market.
Truck-as-a-Service Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our truck-as-a-service market report covers the following areas:
- Truck-as-a-service market size
- Truck-as-a-service market trends
- Truck-as-a-service market industry analysis
We provide a detailed analysis of around 25 vendors operating in the truck-as-a-service market. Backed with competitive intelligence and benchmarking, our research report on the truck-as-a-service market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Truck-as-a-Service Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist truck-as-a-service market growth during the next five years
- Estimation of the truck-as-a-service market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the truck-as-a-service market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of truck-as-a-service market vendors
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Truck-as-a-Service Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 22.19% |
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Market growth 2021-2025 |
USD 24.92 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
17.17 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 55% |
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Key consumer countries |
US, China, Canada, Germany, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
AB Volvo, Daimler AG, Fleet Advantage LLC, Fleet Complete, Ford Motor Co., Hino Motors Ltd., Microlise Group Plc, Tata Motors Ltd., Trimble Inc., and Volkswagen AG |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents :
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Service
- Market segments
- Comparison by Service
- Digital freight brokerage - Market size and forecast 2020-2025
- Telematics - Market size and forecast 2020-2025
- Data analytics - Market size and forecast 2020-2025
- Truck platooning - Market size and forecast 2020-2025
- Market opportunity by Service
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AB Volvo
- Daimler AG
- Fleet Advantage LLC
- Fleet Complete
- Ford Motor Co.
- Hino Motors Ltd.
- Microlise Group Plc
- Tata Motors Ltd.
- Trimble Inc.
- Volkswagen AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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