According to research from Frost & Sullivan, the global commercial vehicle (CV) market is set for rapid transformation as truck original equipment manufacturers (OEMs) and Tier-I technology suppliers recalibrate business strategies.
A slowdown in developed markets such as North America and Europe, coupled with strong demand from Brazil, Russia, India and China, is driving new alliances as well as a focus on digital freight brokering and in-cabin technologies. The main change in the global trucks market is the shift from truck-as-a-product to truck-as-a-service business models to create sustainable revenue streams. This trend will be bolstered by platform-based production, connected truck-enabled services and the rise of value trucks.
“Aging driver population, asset management and the demand for greater visibility in freight movement create a market pull for digitization of services,” said Bharani Lakshminarasimhan, mobility program manager. “Connected truck technologies, digital freight brokering, Big Data/Internet of Things, and health, wellness and well-being technologies will emerge as key digitization imperatives.”
Upcoming market developments include:
“Given the speed and rate of market transformation, most growth opportunities in 2017 will be enabled through ecosystem partnerships and acquisition/development of disruptive technologies,” Lakshminarasimhan said. “Leading OEMs, such as Daimler, Volvo, Ford, Hino and Ashok Leyland, will proactively invest in or partner with start-ups in the digital freight brokering, Big Data, and cyber security markets.”
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One Reply to “Commercial Truck Market Shifting Toward Truck-As-A-Service Model”
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