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Truck-as-a-Service (TaaS) Market Trends

Report ID: GMI6503
Published Date: Aug 2023
Report Format: PDF

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Truck-as-a-Service (TaaS) Market Trends

Fleet modernization is a significant opportunity that can propel the truck-as-a-service industry growth. Many traditional trucking fleets consist of older vehicles that do not meet the emissions regulations, lack advanced technologies, and account for higher maintenance costs. However, truck-as-a-service providers can leverage this opportunity by providing access to modern, fuel-efficient, and technologically advanced trucks as per a flexible & subscription-based model. This enables businesses to upgrade their fleets without the need for heavy upfront investments, thereby allowing them to reduce operating costs and stay competitive in an evolving industry landscape.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of truck-as-a-service reached USD 23.3 billion in 2022 and is estimated to register a CAGR of over 24.8% between 2023 and 2032.

Telematics segment held a market share of over 61% in 2022, due to its transformative impact on trucking operations, fleet management, and customer satisfaction.

North America market accounted for 34% of revenue share in 2022, owing to the vast geographical expanse, well-developed transportation infrastructure, a strong logistics industry, and the presence of leading technology & e-commerce companies in the region.

Robert Bosch GmbH, Volta Trucks, Continental AG, Daimler AG, Fleet Advantage, Hino Motors, Inseego Corporation, MAN Trucks, Navistar International, PACCAR Inc., Scania AB, Tata Motors, Traton SE, Trimble Inc., and Truckky.