Economic growth and urbanization are driving demand for trucks in emerging markets , finds Frost & Sullivan's Intelligent Mobility team
MOUNTAIN VIEW, California, Oct. 31, 2016 /PRNewswire/ -- Digital technologies for resource management and total cost optimization efforts are transforming global freight mobility. The advent of green, safe, connected and smart trucks is propelling the commercial truck market to a service-based business model instead of a product-based one. A significant portion of global truck market growth in the next decade will come from Next 11, ASEAN, Middle East, and African countries. Rapid economic growth and urbanization, coupled with free trade agreements and the development of industrial corridors, are aiding truck market growth in these regions.
New Frost & Sullivan analysis titled, Eight Transformational Trends Influencing the Global Trucking Industry's Growth Trajectory (http://frost.ly/100), details the latest trends that are shaping the commercial trucking industry, such as digital transformation, autonomous trucking, rise of value trucks, platformization, and urban trucking among others.
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"Keeping ahead of the technological, demographical, environmental and geopolitical shifts that alter the commercial truck market will be crucial for truck original equipment manufacturers (OEMs)," said Frost & Sullivan Intelligent Mobility Research Analyst Silpa Paul. "Penetration in Asian markets will be the key factor in the design of globally scalable platforms for Western OEMs, led by Daimler, Volvo, and the Volkswagen Group."
Evolving truck technology has moved well beyond basic telematics to integrate advanced traffic modeling, weather prediction, and social media analytics. In fact, by 2025, OEMs are expected to introduce level 3 autonomous trucks.
"Autonomous and connectivity technologies, Big Data analytics, and advanced powertrains are the future of trucking," said Paul. "This evolution is inevitable as truck driver shortage in North America and even emerging economies such as India, strengthen the case for autonomous trucks."
Autonomous trucking will be a key product differentiator for OEMs in the next 10-15 years; therefore, they must build marketing campaigns that portray autonomous driving technologies as tools for driver comfort and convenience, rather than a means to replace drivers.
Eight Transformational Trends Influencing the Global Trucking Industry's Growth Trajectory is part of Frost & Sullivan's Transportation & Logistics Growth Partnership Service program, which offers unique insights on light-, medium- and heavy-duty trucks; city trucks; transmission technologies; telematics; autonomous technologies; and Big Data in trucking.
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Eight Transformational Trends Influencing the Global Trucking Industry's Growth Trajectory
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SOURCE Frost & Sullivan