Car Sharing Market by Vehicle Type, Application 2014-2024 Connected Truck Market Research Report 2023 | Page 3

Connected Truck Market
In terms of vehicle, the connected truck market is segmented into light commercial vehicle (LCV) and heavy
commercial vehicle (HCV). LCVs are expected to hold a larger market share during the forecast period, driven by
their high production, especially in developing countries such as China and India.
Globally, North America is projected to be the largest market for connected trucks, during 2018-2023. The
growth of the market in this region is driven by various factors such as improved communication infrastructure,
government mandates for vehicle safety and data security, increasing digitization in fleet management services,
and concerns of cyber security and update.
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