Truck-as-a-Service Market, Forecast to 2025

Truck-as-a-Service Market, Forecast to 2025

Digitalization of Truck Services to Create $79.42 Billion Opportunity by 2025

RELEASE DATE
28-Dec-2018
REGION
Global
Research Code: MDB5-01-00-00-00
SKU: AU01767-GL-MR_22724
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Description

The confluence of technologies in the trucking industry is providing a platform for various stakeholders to build service and solution-based revenue models. As commercial trucks increasingly integrate telematics devices, a plethora of services beyond tracking, from prognostics to asset management to driver behavior management, are being enabled. The industry view holds that digitaliizing the freight brokerage process has had the greatest impact on improving freight efficiency, reducing empty miles and emissions, as well as lowering the cost of trucking.

As a result, a slew of digital brokerage solutions are being funded across major truck markets in an effort to usher in digital brokerage. As consumers increasingly adopt digital channels of interaction with leading OEM brands and for purchases, digitalization of truck retailing is an eventuality that traditional truck OEMs are embracing starting with spare-part sales. Big Data and the Internet-of-Things (IoT) are offering opportunities for business solutions based on the examination of data. Be it monitoring the total-cost-of-ownership or deciding between leasing or outright purchases, past data can now be analyzed to make intelligent decisions.

Developments in autonomous driving technology would result in the creation of autonomous driving services, such as platooning technology, which can be offered on a subscription model. Platooning is touted to result in fuel savings of 4–11% per truck.

Digital freight brokerage, telematics services, business analytics, digitalization of retail and platooning are expected to rapidly expand the TaaS market from $13.26 billion in 2018 to over $79.42 billion in 2025. Digital freight brokerage is expected to be the biggest service revenue opportunity with a revenue potential of $54.24 billion. The global telematics devices market is expected to grow from 25.7M units in 2018 to 73.1M in 2025, growing at a CAGR of 16.1%. This will translate into service revenue growth from $5.14 billion in 2018 to $16.51 billion in 2025.

With rising connectivity, data security becomes a core issue. Governments and the truck industry will have to work together to make digitally-enabled service solutions more pragmatic, safe, and environmentally friendly. Increasing use of light-weighting features will make room for the additional payload to accommodate new devices.

Key Issues Addressed

  • What are the key new revenue opportunities emerging in the truck market?
  • What is driving the shift of trucking from a product business to a service business?
  • What is the futuristic strategy orientation of key truck OEMs?
  • What is the revenue potential of digital freight brokerage and truck telematics services in 2025?
  • What is the revenue potential of digital retailing and business analytics in the trucking industry in 2025?
  • What are the key initiatives, in terms of new products, that industry stakeholders need to take?

Key Conclusions

Into 2025, the trucking industry will experience high integration of real-time diagnostics, online booking of services and repairs, remote repairs, assisted repairs, and remote diagnostics and prognostics. OEMs will look to tap into these opportunities for revenue growth by investing in start-ups involved in digital technologies.

Author: Silpa Paul

Table of Contents

Executive Summary—Transformational Trends and Their Impact

Executive Summary—Top 5 Service Opportunities

Executive Summary—TaaS Market Size

Executive Summary—Key Findings

Research Scope

Research Aims and Objectives

Research Background

Research Methodology

Commercial Vehicle Definitions and Vehicle Segmentation

Truck as a Service (TaaS)—Definitions

TaaS Geographic Coverage

Potentially Disruptive Business Models Cited by Global CEO Survey

Paradigm Shift from Product to Service

Need to Transition from Product to Service

Telematics Service Revenue

Rising Penetration of Telematics Devices to Enable TaaS

Key Focus Areas in Telematics Packages

Roadmap of Key Telematics Services

Over-the-Air (OTA) Updates

Evolution of a New Business Model—No Contract/Initial Fee

TomTom Telematics—Collaborative Strategy for Growth

Brokerage Market Size

Investments in Digital Freight Brokerage

Growth Potential of Various Solutions

Future Value-added Services

Retail Digitalization Spending

Definition of Digital in Truck Retail

Evolution of Online and Digital Truck eRetail

Truck Retailing Strategy—From Push to Pull

Omni-Channel Retailing

Goodyear Roll—New Omni-channel Retail Strategy

Volvo Trucks—Using Social Media in a B2B Market

Future Store Formats

Aftermarket Services

Digital Aftermarket Parts Store in 2025

Digitization Expansion in Auto Parts and Service

Case Study—Alliance Truck Parts

Platooning Market Size

Advantages of Platooning

Platooning—Level 2 Autonomous Driving Technology

Key Developments in Autonomous Trucking

Business Models for Truck Platooning

Platooning Market—Mergers, Acquisitions, and Investments

Advantages of Business Analytics

Big Data Enabled Services

Business Analytics—Revenue Model

ATLAAS by Fleet Advantage—Big Data Solution for Private Fleets

Connvex by Fleet Complete—An Analytics Platform

Trimble Reveal by TMW*—A Multi-industry Platform

Roadmap of Trucking Services on Blockchain

Role of Blockchain in Freight Brokerage

Services Using Blockchain

Case Study—Blockchainfirst Toll Collection System

TRATON Group—Investing in RIO

MAN Trucks— Innovations Roadmap

MAN Truck & Bus (UK) Attempts ‘Servitization’

Daimler Truck & Bus—New Global eMobility Group and Autonomous Development Center

Tata Motors Sets Up Mobility Innovation Hub

Nikola Motor Company—TaaS Value Proposition

Growth Opportunities

Growth Opportunity 1—Dealership/OEM Omni-channel Retailing Strategy

Growth Opportunity 2—CRM

Growth Opportunity 3—Connectivity Solutions / Predictive Analytics

Strategic Imperatives for Success and Growth

Key Conclusions and Future Outlook

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

List of Figures
  • 1. Truck-as-a-Service Market: Key Findings, Global, 2018
  • 2. Commercial Vehicle Market: Definitions and Segmentation, Global, 2018
  • 3. Truck-as-a-Service Market: TaaS in MD-HD Trucks—Segmentation, Global, 2018–2025
  • 4. Truck-as-a-Service Market: Factors Driving Servitization, Global, 2018–2025
  • 5. Truck-as-a-Service Market: TaaS Opportunities, Global, 2018–2025
  • 6. Truck-as-a-Service Market: Telematics Services Roadmap, Global, 2018–2025
  • 7. Truck-as-a-Service Market: OTA, Global, 2018
  • 8. Truck-as-a-Service Market: Telematics Business Models, North America, 2018–2025
  • 9. Truck-as-a-Service Market: Road Freight Brokerage Value-added Services, Global, 2018–2025
  • 10. Truck-as-a-Service Market: Evolution of Online and Digital Auto eRetail, Global, 2018–2025
  • 11. Traditional and New Retail Strategy, Global, 2018
  • 12. Truck-as-a-Service Market: Multichannel and Omni-channel, Global,2018
  • 13. Pillars of Omni-channel Retailing, Global, 2018
  • 14. Truck-as-a-Service Market: Roll by Goodyear, North America, 2018
  • 15. Truck-as-a-Service Market: Viral Campaign, Volvo Trucks, Global, 2012–2017
  • 16. Truck-as-a-Service Market: Future Store Formats, Global, 2025
  • 17. Truck-as-a-Service Market: Aftermarket Services, Global, 2018–2025
  • 18. Truck-as-a-Service Market: Auto Parts Retail and Service Center, Global, 2025
  • 19. Truck-as-a-Service Market: Digitization Expansion in Auto Parts and Service, Global, Pre-2018–2025
  • 20. Truck-as-a-Service Market: Digital Retailing—Alliance Truck Parts, North America, 2018
  • 21. Truck-as-a-Service: Autonomous Driving, Global, 2018–2025
  • 22. Truck-as-a-Service Market: Business Models for Truck Platooning, Global, 2018
  • 23. Truck-as-a-Service Market: Truck Platooning Market, Global, 2018
  • 24. Truck-as-a-Service Market: Benefits of Business Analytics, Global, 2018–2025
  • 25. Truck-as-a-Service Market: Big Data in the Trucking Industry–the Business Case, Global, 2018–2025
  • 26. Truck-as-a-Service Market: Fleet Advantage, North America, 2018
  • 27. Truck-as-a-Service Market: Convex Analytics Platform, North America, 2018
  • 28. Truck-as-a-Service Market: Trimble Reveal Analytics Platform, North America, 2018
  • 29. Truck-as-a-Service Market: Road Map of Blockchain-based Services, Global, 2018–2025
  • 30. Truck-as-a-Service Market: Freight Brokerage, Global, 2018
  • 31. Truck-as-a-Service Market: Automotive Ecosystem on Blockchain, Global, 2018–2025
  • 32. Case Study—Blockchainfirst Toll Collection System, Global, 2018
  • 33. Truck-as-a-Service Market: TRATON Group, New Services Initiatives, 2018
  • 34. Truck-as-a-Service Market: MAN Trucks, Innovation Map, 2018
  • 35. Truck-as-a-Service Market: Servitization Case Study, MAN Truck & Bus, UK, 2018
  • 36. Truck-as-a-Service Market: Daimler’s Innovation Strategy, Global, 2018
  • 37. Truck-as-a-Service Market: Daimler’s Innovation Strategy, Global, 2018
  • 38. Truck-as-a-Service Market: Nikola Motors’ Value Proposition, North America, 2018
  • 39. Truck-as-a-Service Market: Growth Opportunities, Global, 2018
  • 40. Truck-as-a-Service Market: Key Conclusions and Future Outlook, Global, 2018
List of Charts
  • 1. Truck-as-a-Service Market: Revenue Breakdown, Global, 2018 and 2025
  • 2. Truck-as-a-Service Market: Survey of CEOs, Global, 2018
  • 3. Truck-as-a-Service Market: Telematics Service Revenue Forecast by Region, Global*, 2018 and 2025
  • 4. Truck-as-a-Service Market: Telematics Installed Base Forecast by Region, Global, 2018, and 2025
  • 5. Truck-as-a-Service Market: Revenue Forecast by Freight Brokerage Type, Global*, 2018 and 2025
  • 6. Truck-as-a-Service Market: Investments in Technology Start-ups, Global, 2013–2018
  • 7. Road Freight Brokerage Market: Series Investments in Technology Start-ups, Global, 2018*
  • 8. Truck-as-a-Service Market: Growth Potential of Key Brokerage Solutions, Global*, 2018 and 2025
  • 9. Truck-as-a-Service Market: Retail Digitalization Spending Forecast by Type, Global*, 2018 & 2025
  • 10. Truck-as-a-Service Market: Definition of Digital Retail, Global, 2018
  • 11. Truck-as-a-Service Market: Platooning Revenue Forecast by Type, Global*, 2018 and 2025
  • 12. Truck-as-a-Service Market: Revenue Forecast by Business Analytics Services, Global*, 2018 and 2025
Related Research
The confluence of technologies in the trucking industry is providing a platform for various stakeholders to build service and solution-based revenue models. As commercial trucks increasingly integrate telematics devices, a plethora of services beyond tracking, from prognostics to asset management to driver behavior management, are being enabled. The industry view holds that digitaliizing the freight brokerage process has had the greatest impact on improving freight efficiency, reducing empty miles and emissions, as well as lowering the cost of trucking. As a result, a slew of digital brokerage solutions are being funded across major truck markets in an effort to usher in digital brokerage. As consumers increasingly adopt digital channels of interaction with leading OEM brands and for purchases, digitalization of truck retailing is an eventuality that traditional truck OEMs are embracing starting with spare-part sales. Big Data and the Internet-of-Things (IoT) are offering opportunities for business solutions based on the examination of data. Be it monitoring the total-cost-of-ownership or deciding between leasing or outright purchases, past data can now be analyzed to make intelligent decisions. Developments in autonomous driving technology would result in the creation of autonomous driving services, such as platooning technology, which can be offered on a subscription model. Platooning is touted to result in fuel savings of 4–11% per truck. Digital freight brokerage, telematics services, business analytics, digitalization of retail and platooning are expected to rapidly expand the TaaS market from $13.26 billion in 2018 to over $79.42 billion in 2025. Digital freight brokerage is expected to be the biggest service revenue opportunity with a revenue potential of $54.24 billion. The global telematics devices market is expected to grow from 25.7M units in 2018 to 73.1M in 2025, growing at a CAGR of 16.1%. This will translate into service revenue growth from $5.14
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Table of Contents | Executive Summary~ || Executive Summary—Transformational Trends and Their Impact~ || Executive Summary—Top 5 Service Opportunities~ || Executive Summary—TaaS Market Size~ || Executive Summary—Key Findings~ | Research Scope, Objectives, Background, and Methodology~ || Research Scope~ || Research Aims and Objectives~ || Research Background~ || Research Methodology~ | Definitions and Segmentation~ || Commercial Vehicle Definitions and Vehicle Segmentation~ || Truck as a Service (TaaS)—Definitions~ || TaaS Geographic Coverage~ | Evolution of Truck as a Service (TaaS)~ || Potentially Disruptive Business Models Cited by Global CEO Survey~ || Paradigm Shift from Product to Service~ || Need to Transition from Product to Service~ | Telematics/FMS~ || Telematics Service Revenue~ || Rising Penetration of Telematics Devices to Enable TaaS~ || Key Focus Areas in Telematics Packages~ || Roadmap of Key Telematics Services~ || Over-the-Air (OTA) Updates~ || Evolution of a New Business Model—No Contract/Initial Fee~ || TomTom Telematics—Collaborative Strategy for Growth~ | Digital Freight Brokerage~ || Brokerage Market Size~ || Investments in Digital Freight Brokerage~ || Growth Potential of Various Solutions~ || Future Value-added Services~ | Digital Retailing~ || Retail Digitalization Spending~ || Definition of Digital in Truck Retail~ || Evolution of Online and Digital Truck eRetail~ || Truck Retailing Strategy—From Push to Pull~ || Omni-Channel Retailing~ || Goodyear Roll—New Omni-channel Retail Strategy~ || Volvo Trucks—Using Social Media in a B2B Market~ || Future Store Formats~ || Aftermarket Services~ || Digital Aftermarket Parts Store in 2025~ || Digitization Expansion in Auto Parts and Service~ || Case Study—Alliance Truck Parts~ | Platooning~ || Platooning Market Size~ || Advantages of Platooning~ || Platooning—Level 2 Autonomous Driving Technology~ || Key Developments in Autonomous Trucking~ || Business Models for Truck Platooning~ || Platooning Market—Mergers, Acquisitions, and Investments~ | Business Analytics~ | Business Analytics—Services Revenue~ || Advantages of Business Analytics~ || Big Data Enabled Services~ || Business Analytics—Revenue Model~ || ATLAAS by Fleet Advantage—Big Data Solution for Private Fleets~ || Connvex by Fleet Complete—An Analytics Platform~ || Trimble Reveal by TMW*—A Multi-industry Platform~ | Blockchain—a Key New Technology for Services~ || Roadmap of Trucking Services on Blockchain~ || Role of Blockchain in Freight Brokerage~ || Services Using Blockchain~ || Case Study—Blockchainfirst Toll Collection System~ | Truck OEM Activities in TaaS~ || TRATON Group—Investing in RIO~ || MAN Trucks— Innovations Roadmap~ || MAN Truck & Bus (UK) Attempts ‘Servitization’~ || Daimler Truck & Bus—New Global eMobility Group and Autonomous Development Center~ || Tata Motors Sets Up Mobility Innovation Hub~ || Nikola Motor Company—TaaS Value Proposition~ | Growth Opportunities in TaaS~ || Growth Opportunities~ || Growth Opportunity 1—Dealership/OEM Omni-channel Retailing Strategy~ || Growth Opportunity 2—CRM~ || Growth Opportunity 3—Connectivity Solutions / Predictive Analytics~ || Strategic Imperatives for Success and Growth~ | Key Conclusions and Future Outlook~ || Key Conclusions and Future Outlook~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Engineering Methodology~ || List of Exhibits~
List of Charts and Figures 1. Truck-as-a-Service Market: Key Findings, Global, 2018~ 2. Commercial Vehicle Market: Definitions and Segmentation, Global, 2018~ 3. Truck-as-a-Service Market: TaaS in MD-HD Trucks—Segmentation, Global, 2018–2025~ 4. Truck-as-a-Service Market: Factors Driving Servitization, Global, 2018–2025~ 5. Truck-as-a-Service Market: TaaS Opportunities, Global, 2018–2025~ 6. Truck-as-a-Service Market: Telematics Services Roadmap, Global, 2018–2025~ 7. Truck-as-a-Service Market: OTA, Global, 2018~ 8. Truck-as-a-Service Market: Telematics Business Models, North America, 2018–2025~ 9. Truck-as-a-Service Market: Road Freight Brokerage Value-added Services, Global, 2018–2025~ 10. Truck-as-a-Service Market: Evolution of Online and Digital Auto eRetail, Global, 2018–2025~ 11. Traditional and New Retail Strategy, Global, 2018~ 12. Truck-as-a-Service Market: Multichannel and Omni-channel, Global,2018~ 13. Pillars of Omni-channel Retailing, Global, 2018~ 14. Truck-as-a-Service Market: Roll by Goodyear, North America, 2018~ 15. Truck-as-a-Service Market: Viral Campaign, Volvo Trucks, Global, 2012–2017~ 16. Truck-as-a-Service Market: Future Store Formats, Global, 2025~ 17. Truck-as-a-Service Market: Aftermarket Services, Global, 2018–2025 ~ 18. Truck-as-a-Service Market: Auto Parts Retail and Service Center, Global, 2025~ 19. Truck-as-a-Service Market: Digitization Expansion in Auto Parts and Service, Global, Pre-2018–2025~ 20. Truck-as-a-Service Market: Digital Retailing—Alliance Truck Parts, North America, 2018~ 21. Truck-as-a-Service: Autonomous Driving, Global, 2018–2025~ 22. Truck-as-a-Service Market: Business Models for Truck Platooning, Global, 2018~ 23. Truck-as-a-Service Market: Truck Platooning Market, Global, 2018~ 24. Truck-as-a-Service Market: Benefits of Business Analytics, Global, 2018–2025~ 25. Truck-as-a-Service Market: Big Data in the Trucking Industry–the Business Case, Global, 2018–2025~ 26. Truck-as-a-Service Market: Fleet Advantage, North America, 2018~ 27. Truck-as-a-Service Market: Convex Analytics Platform, North America, 2018~ 28. Truck-as-a-Service Market: Trimble Reveal Analytics Platform, North America, 2018~ 29. Truck-as-a-Service Market: Road Map of Blockchain-based Services, Global, 2018–2025~ 30. Truck-as-a-Service Market: Freight Brokerage, Global, 2018~ 31. Truck-as-a-Service Market: Automotive Ecosystem on Blockchain, Global, 2018–2025~ 32. Case Study—Blockchainfirst Toll Collection System, Global, 2018 ~ 33. Truck-as-a-Service Market: TRATON Group, New Services Initiatives, 2018~ 34. Truck-as-a-Service Market: MAN Trucks, Innovation Map, 2018~ 35. Truck-as-a-Service Market: Servitization Case Study, MAN Truck & Bus, UK, 2018 ~ 36. Truck-as-a-Service Market: Daimler’s Innovation Strategy, Global, 2018~ 37. Truck-as-a-Service Market: Daimler’s Innovation Strategy, Global, 2018~ 38. Truck-as-a-Service Market: Nikola Motors’ Value Proposition, North America, 2018~ 39. Truck-as-a-Service Market: Growth Opportunities, Global, 2018 ~ 40. Truck-as-a-Service Market: Key Conclusions and Future Outlook, Global, 2018 ~| 1. Truck-as-a-Service Market: Revenue Breakdown, Global, 2018 and 2025~ 2. Truck-as-a-Service Market: Survey of CEOs, Global, 2018~ 3. Truck-as-a-Service Market: Telematics Service Revenue Forecast by Region, Global*, 2018 and 2025~ 4. Truck-as-a-Service Market: Telematics Installed Base Forecast by Region, Global, 2018, and 2025~ 5. Truck-as-a-Service Market: Revenue Forecast by Freight Brokerage Type, Global*, 2018 and 2025~ 6. Truck-as-a-Service Market: Investments in Technology Start-ups, Global, 2013–2018~ 7. Road Freight Brokerage Market: Series Investments in Technology Start-ups, Global, 2018*~ 8. Truck-as-a-Service Market: Growth Potential of Key Brokerage Solutions, Global*, 2018 and 2025~ 9. Truck-as-a-Service Market: Retail Digitalization Spending Forecast by Type, Global*, 2018 & 2025~ 10. Truck-as-a-Service Market: Definition of Digital Retail, Global, 2018~ 11. Truck-as-a-Service Market: Platooning Revenue Forecast by Type, Global*, 2018 and 2025~ 12. Truck-as-a-Service Market: Revenue Forecast by Business Analytics Services, Global*, 2018 and 2025~
Author Bharani Lakshminarasimhan
Industries Automotive
WIP Number MDB5-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9963-A6,9AF6-A6