Connected Truck Market Set to Exhibit Tremendous Growth in Coming Years

 The European Union (EU) mandates the inclusion of alcohol interlock installation facilitation solutions, distraction recognition/prevention features, event (accident) data recorders, emergency stop signals, intelligent speed assistance systems, tire pressure monitoring systems, and reversing cameras or detection systems in trucks being adopted in European nations, from 2022. Similarly, the U.S. Department of Transportation (USDOT) is working with local and state transportation agencies, automobile and device manufacturers, and public to evaluate and test technologies that will allow trucks and associated infrastructure, and smartphones and other devices to exchange information with one another, under its Connected Vehicle Program.

Thus, the increasing implementation of vehicle safety and security norms and the rising integration of technologically advanced features in vehicles will boost the connected truck market growth during 2018–2023. Connected trucks offer real-time information about accidents and congestion and automatically update routes to facilitate smooth driving. Additionally, automated parking suggestions, interaction assistance, and hazard warning being offered by connected trucks enhance their safety quotient. Moreover, the increasing installation of advanced driver assistance systems (ADAS) helps in improving fleet efficiency, reducing fuel costs and down-time of vehicles, and streamlining deliveries.

According to P&S Intelligence, North America is expected to lead the connected truck market in the upcoming years. This will be due to the improving communication infrastructure, accelerating digitization rate in fleet management services, and mounting public concerns on cyber security and update, in the region. Additionally, the increasing implementation of data security and vehicle safety regulations in the U.S. and Canada will also encourage the adoption of connected cars in North America. For instance, the USDOT drafted the Automated Vehicles Comprehensive Plan to prioritize safety, while preparing for the future of transportation in the country.

Thus, the growing focus of government organizations and international agencies on vehicle safety and surging technological advancements in connectivity features will propel the production and adoption of connected trucks, worldwide.