Accenture Connected Truck Market Analysis By Type (LCV, HCV, Buses), By Application (Long Haul, Short Haul) and Regional Insights and Forecast to 2032

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ACCENTURE CONNECTED TRUCK MARKET REPORT OVERVIEW

The Accenture Connected Truck Market size was valued at approximately USD 50 billion in 2023 and is expected to reach USD 186.5 billion by 2032, growing at a compound annual growth rate (CAGR) of about 14.7% from 2024 to 2032.

The global market is expected to expand significantly because of the increased need of e-commerce and logistics companies for fully integrated trucks that can simplify much needed regular tasks such as the repairs and maintenance that these trucks require on a daily basis. Because of excessive use and transportation tasks that need to be completed in a specific time frame, features that these connected vehicles provide by using the latest technologies are of much importance to all industries involved.

The global accenture connected truck market size is therefore anticipated to grow as real-time tracking and diagnosis, increased fuel efficiency, reduced downtime and better safety features gain both awareness and importance in the global scenario. This trend of digitisation and technology adoption in automobiles makes connected trucks a most essential asset for each market player who includes shipping and delivery services in their arsenal.

COVID-19 IMPACT

How the Industry Was Negatively Affected Due to Supply Chain Disruptions during the COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

LATEST TREND

New and Upcoming Digital Solutions Driving Market Growth

Modern fleet management systems and the incorporation of Internet of Things (IoT) technology in trucks are emerging as major drivers of accenture connected truck market growth. Connected trucks are essential to contemporary logistics operations because these technologies allow for real-time tracking, predictive maintenance, and improved safety precautions.

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ACCENTURE CONNECTED TRUCK MARKET SEGMENTATION

By Type

Based on type, the global market is segmented into LCV, HCV and buses.

• LCV (Light Commercial Vehicles): The main application for light commercial vehicles is short-distance transportation. The increasing need for cost-effective and efficient last-mile delivery and local transportation is driving up demand for connected LCVs.

• HCV (Heavy Commercial Vehicles): Heavy Commercial Vehicles, or HCVs, are used for long-distance haulage and are usually a component of larger fleets. HCVs with integrated connected technologies use less fuel, are safer, and have better fleet management.

• Buses: In order to improve route optimization, passenger safety, and vehicle maintenance, connected buses are becoming more prevalent in public transit networks.

By Application

Based on application, the global market is segmented into long haul and short haul.

• Long Haul: This type of connected truck application is specifically for trucks who have to make cross-country deliveries through e-commerce and logistics companies. They need additional features that only connected technology can provide, such as efficient location tracking, vehicle diagnosis while on the road, less requirement of maintenance, as well as maximised fuel efficiency with reduced downtime.

• Short Haul: Short haul applications, as the name suggests, is limited to local deliveries or any transportation within a limited area, where the main focus of connected trucks is to maintain efficiency in terms of cost, fuel usage, and vehicle management in case there is need for preventive maintenance during transportation.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

New and Upcoming Technological Advancements Leading to Improved Product Lines of Connected Trucks

Technological advancements that are responsible for driving the market ahead at a rapidly growing pace include artificial intelligence, integration of 5G networks, and the newest addition that is internet of things. These factors are encouraging more and more e-commerce conglomerates to adopt connected trucks as part of their high-end delivery system fleet, since the benefits of accenture connected trucks aid in better communication, proper vehicle management, along with the most important aspect of better fuel usage with less downtime. 

Growth of E-commerce and Efficient Logistic Solutions Increasing the Demand for Connected Technologies

Since e-commerce is one of the fastest growing sectors in the global market, there is a heightened need for a dedicated delivery fleet provided by logistics companies to be acquired by these large as well as small-scale companies. Accenture connected trucks market growth is fueled by this factor, as it helps sellers by providing them with a well managed system inclusive of fleet operators, connected trucks, driving personnel and the likes to guarantee on-time deliveries by saving costs wherever possible through optimised fuel usage and best delivery routes.

Restraining Factor

Factors such as High Pricing and Risks Pertaining to Data Security Limiting Target Market Share

Since the technologies that accenture connected trucks are priced very heavily, and their implementation alone can act as a deterring factor for companies, its actual adoption in the market becomes quite limited. Expansion of the market is also hindered because of genuine concerns of data leaks, and threats to data security as well as privacy due to unauthorised access to the trucks or their connected networks. Any company who only has a limited fleet, or is carrying high-risk or sensitive items will therefore not go for these connected trucks, and this is what stops the market from rapidly expanding in all sectors.

Opportunity

Government Initiatives Promoting Smart Transportation Solutions

There are tremendous growth prospects for the industry from government programs that support smart transportation and lower carbon emissions, driving the accenture connected truck market share. Market expansion is anticipated to be aided by incentives for implementing connected and environmentally friendly car technology.

Challenge

Integration and Compatibility Issues with Legacy Systems

One of the key challenges in the accenture connected truck market growth is the fusion of current fleet management systems with newly connected technologies. Compatibility problems could occur, which would cause inefficiencies and hold up the widespread adoption of connected trucks.

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ACCENTURE CONNECTED TRUCK MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

• North America

Countries such as the U.S. and Canada are expected to be a leading region in The United States accenture connected truck market include countries such as Canada as their leading region in terms of market share as well as demand. This is because of the huge logistics industry which is doing very well here, which also leads manufacturers as well as other companies to adopt the trending technology of connected cars. A significant amount of investment goes into developing and updating these technologies by improving internet of things and strengthening artificial intelligence abilities, which make it possible for the combined contribution of drivers which push the market forward.

• Europe

With nations such as Germany, France, and the United Kingdom playing crucial roles, this is another important region for the Accenture Connected Truck market. Since the industries in this region give heavy importance to eco-friendly features such as technology and materials which can curb the amount of carbon emissions produced, as well as make sure that the transportation is as smart as possible in terms of technology, the market and demand for these connected trucks is on the rise as the most ideal solution for current demand.

• Asia-Pacific

Due to the burgeoning e-commerce industry, rising infrastructure spending, and advancements in transportation technologies, the accenture connected truck market is anticipated to expand quickly in this part of the world. Key nations in this region are South Korea, Japan, and China.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Innovation

Leading companies in the accenture connected truck market share are making use of technology developments to improve connected trucks' functionality and efficiency. This technology is enabling manufacturers to innovate in terms of their offerings, and add new features in their trucks by adopting technologies such as advances in telematics, all new fleet management tools for preventive maintenance, as well as internet of things solutions which make the trucks high-performing by increasing efficiency as well as applications. 

List of Top Accenture Connected Truck Companies

• Daimler (Germany)
• Scania (Sweden)
• Volvo (Sweden)
• DAF (Netherlands)
• MAN (Germany)
• Renault Trucks (France)
• IVECO (Italy)

KEY INDUSTRY DEVELOPMENT

June, 2023: A new line of accenture connected truck was launched in the heavy-duty trucks segment, which has the additional technological feature of fleet management systems which are powered by the latest AI technologies, and can therefore provide data and analytics in real-time, which can help users by opening up the possibility of predictive maintenance and other similar options.

REPORT COVERAGE

This report provides a detailed, in-depth overview of the accenture connected truck market growth, examining how parameters that affect the market such as regional insights, major players, market trends and segmented revenue will progress during the forecasted period. In keeping with the effort of highlighting recent developments and industry difficulties that affect the market as a whole, the report provides information on potential future growth areas of the sector. This in turn helps industrialists as well as stakeholders in making profitable decisions and effective investments in the key market players to ensure good returns.