NEW YORK, June 27, 2023 /PRNewswire/ — According to projections, the market size for truck-as-a-service will grow by USD 18,499.77 million. The transportation industry’s digital revolution is one of the factors driving the market for truck-as-a-service. Other factors such as growth of IoT adoption in trucking is expected to increase demand. Between 2022 and 2027, the market for truck-as-a-service market is forecasted to expand at a CAGR of 17.76%.
Truck-as-a-service market report goes into great detail about market segmentation by service (digital freight brokerage, telematics, data analytics, and truck platooning), end-user (chemicals, pharmaceutical and healthcare, FMCG, food and beverages, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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Truck-as-a-service market trends
A significant trend in the truck-as-a-service sector is the use of blockchain in the transportation industry. By enhancing data visibility, security, and accuracy, the usage of blockchain in transportation helps to speed freight transactions. Blockchain technology enables the transportation industry more accurately forecast and predict volumes while ensuring improved asset usage. It improves payment processes and might perhaps do away with the middleman in the trucking industry. Additionally, it aids in the prevention of freight management fraud.
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Vendors acknowledging the market trends
Major suppliers of truck-as-a-service in North America include Ford Motor Company, Fleet Advantage, Fleet Complete, Daimler, and Trimble. To enhance their service in North America, many companies are concentrating on partnerships.
Other examples are companies such as AB Volvo – The corporation primarily focuses on trucks, but it also operates in a number of other categories, such as buses. The business concentrates on the production, advancement, and sale of vehicles. One of the company’s main services is vehicle rental.
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Truck-as-a-service market : Scope
Technavio provides a thorough view of the market through the analysis, synthesis, and summarization of data from many sources. The following topics are covered in the report:
- Size of the truck-as-a-service market
- Market trends in the truck-as-a-service market
- Industry analysis of the truck-as-a-service market
Frequently asked questions, answered in the report :
- At what rate is the market projected to grow?
- Who are the top players in the market?
- What are the key market drivers and challenges?
- How big is the market?
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Related Report:
Car-as-a-Service (CaaS) Market: Between 2022 and 2027, the size of the global car-as-a-service (CaaS) market is projected to increase by USD 306.31 billion at a CAGR of 18.09%. A variety of vehicles with single subscription packages, financial assistance from service providers to prospective drivers, and an increase in urbanization are some of the elements that influence the market’s growth.
Biometrics-as-a-Service Market: Between 2022 and 2027, the market for biometrics-as-a-service (BaaS) is anticipated to expand at a CAGR of 15.93%. The market is expected to grow by USD 2,353.46 million in size. The market’s expansion is influenced by a number of variables, such as the rising demand for security and surveillance, the expansion of biometric deployments across a range of end-user industries, and the expansion of government programs to put biometrics into use.
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Truck-as-a-Service Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.76% |
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Market growth 2023-2027 |
USD 18,499.77 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
15.96 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Volvo, Ashok Leyland Ltd, Continental AG, Convoy Inc., Daimler AG, Fleet Advantage LLC, Fleet Complete, Ford Motor Co., Hino Motors Ltd., Inseego Corp., Michelin Group, Microlise Group Plc, PACCAR Inc., Robert Bosch GmbH, Tata Motors Ltd., Total Transportation Services, Trimble Inc., Uber Technologies Inc, Volkswagen AG, and Volta Trucks |
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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 recovery analysis 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. |
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global truck-as-a-service market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global truck-as-a-service market 2017 – 2021 ($ million)
- 4.2 Service Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Service Segment 2017 – 2021 ($ million)
- 4.3 End-user Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Service
- 6.1 Market segments
- Exhibit 30: Chart on Service – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Service – Market share 2022-2027 (%)
- 6.2 Comparison by Service
- Exhibit 32: Chart on Comparison by Service
- Exhibit 33: Data Table on Comparison by Service
- 6.3 Digital freight brokerage – Market size and forecast 2022-2027
- Exhibit 34: Chart on Digital freight brokerage – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Digital freight brokerage – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Digital freight brokerage – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Digital freight brokerage – Year-over-year growth 2022-2027 (%)
- 6.4 Telematics – Market size and forecast 2022-2027
- Exhibit 38: Chart on Telematics – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Telematics – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Telematics – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Telematics – Year-over-year growth 2022-2027 (%)
- 6.5 Data analytics – Market size and forecast 2022-2027
- Exhibit 42: Chart on Data analytics – Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Data analytics – Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Data analytics – Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Data analytics – Year-over-year growth 2022-2027 (%)
- 6.6 Truck platooning – Market size and forecast 2022-2027
- Exhibit 46: Chart on Truck platooning – Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Truck platooning – Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Truck platooning – Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Truck platooning – Year-over-year growth 2022-2027 (%)
- 6.7 Market opportunity by Service
- Exhibit 50: Market opportunity by Service ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 51: Chart on End-user – Market share 2022-2027 (%)
- Exhibit 52: Data Table on End-user – Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 53: Chart on Comparison by End-user
- Exhibit 54: Data Table on Comparison by End-user
- 7.3 Chemicals – Market size and forecast 2022-2027
- Exhibit 55: Chart on Chemicals – Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on Chemicals – Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on Chemicals – Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Chemicals – Year-over-year growth 2022-2027 (%)
- 7.4 Pharmaceutical and healthcare – Market size and forecast 2022-2027
- Exhibit 59: Chart on Pharmaceutical and healthcare – Market size and forecast 2022-2027 ($ million)
- Exhibit 60: Data Table on Pharmaceutical and healthcare – Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Chart on Pharmaceutical and healthcare – Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Pharmaceutical and healthcare – Year-over-year growth 2022-2027 (%)
- 7.5 FMCG – Market size and forecast 2022-2027
- Exhibit 63: Chart on FMCG – Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on FMCG – Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on FMCG – Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on FMCG – Year-over-year growth 2022-2027 (%)
- 7.6 Food and beverages – Market size and forecast 2022-2027
- Exhibit 67: Chart on Food and beverages – Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Food and beverages – Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Food and beverages – Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Food and beverages – Year-over-year growth 2022-2027 (%)
- 7.7 Others – Market size and forecast 2022-2027
- Exhibit 71: Chart on Others – Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on Others – Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on Others – Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Others – Year-over-year growth 2022-2027 (%)
- 7.8 Market opportunity by End-user
- Exhibit 75: Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 76: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 77: Chart on Market share by geography 2022-2027 (%)
- Exhibit 78: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 79: Chart on Geographic comparison
- Exhibit 80: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 81: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 Europe – Market size and forecast 2022-2027
- Exhibit 85: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 89: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 93: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.7 South America – Market size and forecast 2022-2027
- Exhibit 97: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 101: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 103: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 China – Market size and forecast 2022-2027
- Exhibit 105: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 106: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 107: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.10 Germany – Market size and forecast 2022-2027
- Exhibit 109: Chart on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 110: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 111: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.11 Canada – Market size and forecast 2022-2027
- Exhibit 113: Chart on Canada – Market size and forecast 2022-2027 ($ million)
- Exhibit 114: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
- Exhibit 115: Chart on Canada – Year-over-year growth 2022-2027 (%)
- Exhibit 116: Data Table on Canada – Year-over-year growth 2022-2027 (%)
- 9.12 UK – Market size and forecast 2022-2027
- Exhibit 117: Chart on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 118: Data Table on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 119: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 120: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 121: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 122: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 123: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 124: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 125: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 126: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 127: Matrix on vendor position and classification
- 12.3 AB Volvo
- Exhibit 128: AB Volvo – Overview
- Exhibit 129: AB Volvo – Business segments
- Exhibit 130: AB Volvo – Key news
- Exhibit 131: AB Volvo – Key offerings
- Exhibit 132: AB Volvo – Segment focus
- 12.4 Ashok Leyland Ltd
- Exhibit 133: Ashok Leyland Ltd – Overview
- Exhibit 134: Ashok Leyland Ltd – Product / Service
- Exhibit 135: Ashok Leyland Ltd – Key offerings
- 12.5 Convoy Inc.
- Exhibit 136: Convoy Inc. – Overview
- Exhibit 137: Convoy Inc. – Product / Service
- Exhibit 138: Convoy Inc. – Key offerings
- 12.6 Daimler AG
- Exhibit 139: Daimler AG – Overview
- Exhibit 140: Daimler AG – Business segments
- Exhibit 141: Daimler AG – Key news
- Exhibit 142: Daimler AG – Key offerings
- Exhibit 143: Daimler AG – Segment focus
- 12.7 Fleet Advantage LLC
- Exhibit 144: Fleet Advantage LLC – Overview
- Exhibit 145: Fleet Advantage LLC – Product / Service
- Exhibit 146: Fleet Advantage LLC – Key offerings
- 12.8 Fleet Complete
- Exhibit 147: Fleet Complete – Overview
- Exhibit 148: Fleet Complete – Product / Service
- Exhibit 149: Fleet Complete – Key offerings
- 12.9 Ford Motor Co.
- Exhibit 150: Ford Motor Co. – Overview
- Exhibit 151: Ford Motor Co. – Business segments
- Exhibit 152: Ford Motor Co. – Key news
- Exhibit 153: Ford Motor Co. – Key offerings
- Exhibit 154: Ford Motor Co. – Segment focus
- 12.10 Hino Motors Ltd.
- Exhibit 155: Hino Motors Ltd. – Overview
- Exhibit 156: Hino Motors Ltd. – Business segments
- Exhibit 157: Hino Motors Ltd. – Key offerings
- Exhibit 158: Hino Motors Ltd. – Segment focus
- 12.11 Microlise Group Plc
- Exhibit 159: Microlise Group Plc – Overview
- Exhibit 160: Microlise Group Plc – Product / Service
- Exhibit 161: Microlise Group Plc – Key offerings
- 12.12 PACCAR Inc.
- Exhibit 162: PACCAR Inc. – Overview
- Exhibit 163: PACCAR Inc. – Business segments
- Exhibit 164: PACCAR Inc. – Key news
- Exhibit 165: PACCAR Inc. – Key offerings
- Exhibit 166: PACCAR Inc. – Segment focus
- 12.13 Tata Motors Ltd.
- Exhibit 167: Tata Motors Ltd. – Overview
- Exhibit 168: Tata Motors Ltd. – Business segments
- Exhibit 169: Tata Motors Ltd. – Key news
- Exhibit 170: Tata Motors Ltd. – Key offerings
- Exhibit 171: Tata Motors Ltd. – Segment focus
- 12.14 Total Transportation Services
- Exhibit 172: Total Transportation Services – Overview
- Exhibit 173: Total Transportation Services – Product / Service
- Exhibit 174: Total Transportation Services – Key offerings
- 12.15 Trimble Inc.
- Exhibit 175: Trimble Inc. – Overview
- Exhibit 176: Trimble Inc. – Business segments
- Exhibit 177: Trimble Inc. – Key offerings
- Exhibit 178: Trimble Inc. – Segment focus
- 12.16 Uber Technologies Inc
- Exhibit 179: Uber Technologies Inc – Overview
- Exhibit 180: Uber Technologies Inc – Business segments
- Exhibit 181: Uber Technologies Inc – Key offerings
- Exhibit 182: Uber Technologies Inc – Segment focus
- 12.17 Volkswagen AG
- Exhibit 183: Volkswagen AG – Overview
- Exhibit 184: Volkswagen AG – Business segments
- Exhibit 185: Volkswagen AG – Key offerings
- Exhibit 186: Volkswagen AG – Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 187: Inclusions checklist
- Exhibit 188: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 189: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 190: Research methodology
- Exhibit 191: Validation techniques employed for market sizing
- Exhibit 192: Information sources
- 13.5 List of abbreviations
- Exhibit 193: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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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