Truck-as-a-Service Market 2023-2027 | Transportation Industry's Digital Revolution to Boost Market Growth | Technavio

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Jun 27, 2023, 17:45 ET

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%.

Technavio has announced its latest market research report titled Global Truck-as-a-Service Market 2023-2027

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.

Truck-as-a-Service Market Scope
Report Coverage	Details
Page number	180
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 17.76%
Market growth 2023-2027	USD 18,499.77 million
Market structure	Fragmented
YoY growth 2022-2023(%)	15.96
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 38%
Key countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
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
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
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.

Don't miss out on critical insights, purchase our report now!

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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