|Truck-as-a-Service Market, Forecast to 2025|
|Digitalization of Truck Services to Create $79.42 Billion Opportunity by 2025|
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.