Lucintel anticipates that North America will be the fastest growing region in the connected truck market

   September 26, 2019
According to a market report by Lucintel, the future of the connected truck market looks promising with opportunities in the light commercial vehicle and heavy commercial vehicle markets. The connected truck market is expected to grow with a CAGR of 15% from 2019 to 2024. The major drivers for this market are growing demand for vehicle connectivity in logistics and transportation business, development of information and telecommunication infrastructure, and government regulations supporting connected technology in commercial vehicles.

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Within the connected truck market, light commercial vehicle and heavy commercial vehicles are the major end use industries. Light commercial vehicle is the largest end use segment for connected truck market.

North America will remain the largest region over the forecast period due to increasing use of connected devices in commercial vehicles, increasing digitization of various services in fleet management, and cybersecurity & updates.

Robert Bosch, Continental, Denso, Delphi, Harman, ZF, NXP, Magna, Sierra Wireless, Tomtom, Trimble, Verizon are among the major suppliers of connected truck.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the connected truck market by range, by component, by communication, by service, by end use, and by region. Lucintel has prepared a comprehensive research report titled "Connected Truck Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the connected truck market by range, by component, by communication, by service, by end use, and by region as follows:

By Range [$M shipment analysis for 2013 – 2024]

  • DSRC

  • Cellular

By Component [$M shipment analysis for 2013 – 2024]

  • Hardware

  • Software

By Communication [$M shipment analysis for 2013 – 2024]

  • V2V

  • V2I

  • V2C

By Service [$M shipment analysis for 2013 – 2024]

  • Fleet Management

  • Cybersecurity & Updates

By End Use [$M shipment analysis for 2013 – 2024]

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle

By Region [$M shipment analysis for 2013 – 2024]

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • Russia

    • France

    • United Kingdom

    • Italy

  • Asia Pacific

    • Japan

    • India

    • South Korea

    • Indonesia

    • Turkey

    • China

  • The Rest of the World

    • Brazil

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit

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