Global Truck-as-a-Service (TaaS) Market is valued at approximately USD 150.72 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 14.2% during the forecast period 2023-2030. Truck-as-a-Service (TaaS) is a business model where trucks and associated services are offered to customers on a subscription or pay-per-use basis, instead of needing to make an upfront purchase or sign long-term leasing agreements. Transport as a Service (TaaS) is revolutionizing the logistics sector with its advanced on-demand approach to transportation services. TaaS improves operational efficiency by streamlining route planning, facilitating smooth shipper-carrier matching, and using digital platforms and cutting-edge technology. Because of its flexibility, organizations may better match transportation resources to demand, resulting in more economical operations and a reduction in wasteful spending. Its adaptable nature empowers businesses to adjust transportation resources according to demand, leading to more cost-effective operations and eliminating unnecessary expenses. The rising emphasis on sustainability, growing digitization in the transportation sectors, and increasing cost efficiency coupled with the rise in flexibility solutions are the major factors that are stipulating the market demand across the globe.
In addition, the surge in online shopping and diverse delivery options are driving the need for flexible and efficient transportation solutions. TaaS offers scalability and adaptability for businesses struggling to meet fluctuating demand. As per Statista, in 2015 global retail e-commerce sales were USD 1,548 billion and the number is anticipated to reach USD 8,148 billion by 2026. Thus, the surge in online shopping and diverse delivery options is propelling the growth of the Truck-as-a-Service (TaaS) Market during the estimated period of 2023-2030. Moreover, the increasing integration of advanced technologies in TaaS, as well as the rising adoption of digital freight brokerage present various lucrative opportunities over the forecast years. However, the data security and privacy concerns, along with the lack of uniformity in regulations are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Truck-as-a-Service (TaaS) Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of widespread logistics infrastructure, rapid technological integration, and growing emphasis on sustainability. Specifically, the United States and Canada are experiencing a surge in Transport as a Service (TaaS) adoption, spurred by the demand for streamlined and scalable transportation solutions. This growth is further fueled by the presence of leading TaaS providers and a regulatory framework that fosters innovation and development within the market. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rapid urbanization, burgeoning population, and expanding e-commerce landscape are fueling the need for efficient logistics and transportation solutions. Furthermore, regional governments are actively investing in smart city endeavors, which in turn foster the adoption of Transport as a Service (TaaS). This trend aims to bolster mobility options and alleviate congestion, aligning with the overarching goal of enhancing urban living standards, which are significantly propelling the market demand across the region.
Major market players included in this report are:
- Convoy Inc. (U.S.)
- Trimble Transportation (U.S.)
- Omnitracs LLC (U.S.)
- OCTO Telematics Ltd. (Italy)
- Microlise Limited (India)
- Masternaut Limited (U.K.)
- Transfix (U.S.)
- Fleet Advantage LLC (U.S.)
- Volta Trucks (Sweden)
- Fleet Complete (U.S.)
Recent Developments in the Market:
- In November 2023, HVS (Hydrogen Vehicle Systems Limited) joined forces with Zeti, initiating a partnership that includes working closely with Gravis Capital. This partnership aims to deliver a comprehensive Transport as a Service solution to HVS Hydrogen Fuel Cell Truck customers.
- In September 2023, Volta Trucks, a company specializing in commercial vehicles and services, forged a strategic alliance with Spryker. In this partnership, Volta Trucks is dedicated to streamlining truck ownership and expediting the shift toward an all-electric fleet through its groundbreaking Transport as a Service (TaaS) initiative. Leveraging Spryker's expertise, Volta Trucks aims to digitally materialize the TaaS model, incorporating crucial digital functionalities while ensuring adaptability. This forward-looking project is executed in collaboration with Amazon Web Services.
- In August 2023, Webfleet, Bridgestone's advanced fleet management solution, unveiled a significant partnership with VEV, a leading provider of e-fleet solutions to accelerate the transition to commercial eElectric Vehicles (EVs) by integrating VEV's comprehensive fleet solution. VEV specializes in empowering commercial fleets with robust fleet management systems, enhancing operational efficiency and sustainability.
Global Truck-as-a-Service (TaaS) Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Truck Type, Service Type, End Use, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Truck Type:
- Light Duty Trucks
- Heavy Duty Trucks
By Service Type:
- Digital Freight Brokerage
- Telematics
- Truck Platooning
- Rental and Leasing
By End Use:
- Automobiles
- Machinery
- Apparels & Footwear
- Pharmaceutical Products
- Retail
- Electronics
- Petrochemicals
- Agriculture
- Building Materials
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Truck-as-a-Service (TaaS) Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Truck-as-a-Service (TaaS) Market, by Truck Type, 2020-2030 (USD Billion)
- 1.2.3.Truck-as-a-Service (TaaS) Market, by Service Type, 2020-2030 (USD Billion)
- 1.2.4.Truck-as-a-Service (TaaS) Market, by End Use, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Truck-as-a-Service (TaaS) Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Truck-as-a-Service (TaaS) Market Dynamics
- 3.1.Truck-as-a-Service (TaaS) Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Surge in online shopping and diverse delivery options
- 3.1.1.2.Growing digitization in the transportation sectors
- 3.1.2.Market Challenges
- 3.1.2.1.Data security and privacy concerns
- 3.1.2.2.Lack of uniformity in regulations
- 3.1.3.Market Opportunities
- 3.1.3.1.Increasing integration of advanced technologies in TaaS
- 3.1.3.2.Rising adoption of digital freight brokerage
Chapter 4.Global Truck-as-a-Service (TaaS) Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Truck-as-a-Service (TaaS) Market, by Truck Type
- 5.1.Market Snapshot
- 5.2.Global Truck-as-a-Service (TaaS) Market by Truck Type, Performance - Potential Analysis
- 5.3.Global Truck-as-a-Service (TaaS) Market Estimates & Forecasts by Truck Type 2020-2030 (USD Billion)
- 5.4.Truck-as-a-Service (TaaS) Market, Sub Segment Analysis
- 5.4.1.Light Duty Trucks
- 5.4.2.Heavy Duty Trucks
Chapter 6.Global Truck-as-a-Service (TaaS) Market, by Service Type
- 6.1.Market Snapshot
- 6.2.Global Truck-as-a-Service (TaaS) Market by Service Type, Performance - Potential Analysis
- 6.3.Global Truck-as-a-Service (TaaS) Market Estimates & Forecasts by Service Type 2020-2030 (USD Billion)
- 6.4.Truck-as-a-Service (TaaS) Market, Sub Segment Analysis
- 6.4.1.Digital Freight Brokerage
- 6.4.2.Telematics
- 6.4.3.Truck Platooning
- 6.4.4.Rental and Leasing
Chapter 7.Global Truck-as-a-Service (TaaS) Market, by End Use
- 7.1.Market Snapshot
- 7.2.Global Truck-as-a-Service (TaaS) Market by End Use, Performance - Potential Analysis
- 7.3.Global Truck-as-a-Service (TaaS) Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
- 7.4.Truck-as-a-Service (TaaS) Market, Sub Segment Analysis
- 7.4.1.Automobiles
- 7.4.2.Machinery
- 7.4.3.Apparels & Footwear
- 7.4.4.Pharmaceutical Products
- 7.4.5.Retail
- 7.4.6.Electronics
- 7.4.7.Petrochemicals
- 7.4.8.Agriculture
- 7.4.9.Building Materials
- 7.4.10.Others
Chapter 8.Global Truck-as-a-Service (TaaS) Market, Regional Analysis
- 8.1.Top Leading Countries
- 8.2.Top Emerging Countries
- 8.3.Truck-as-a-Service (TaaS) Market, Regional Market Snapshot
- 8.4.North America Truck-as-a-Service (TaaS) Market
- 8.4.1.U.S. Truck-as-a-Service (TaaS) Market
- 8.4.1.1.Truck Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2.Service Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3.End Use breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Truck-as-a-Service (TaaS) Market
- 8.5.Europe Truck-as-a-Service (TaaS) Market Snapshot
- 8.5.1.U.K. Truck-as-a-Service (TaaS) Market
- 8.5.2.Germany Truck-as-a-Service (TaaS) Market
- 8.5.3.France Truck-as-a-Service (TaaS) Market
- 8.5.4.Spain Truck-as-a-Service (TaaS) Market
- 8.5.5.Italy Truck-as-a-Service (TaaS) Market
- 8.5.6.Rest of Europe Truck-as-a-Service (TaaS) Market
- 8.6.Asia-Pacific Truck-as-a-Service (TaaS) Market Snapshot
- 8.6.1.China Truck-as-a-Service (TaaS) Market
- 8.6.2.India Truck-as-a-Service (TaaS) Market
- 8.6.3.Japan Truck-as-a-Service (TaaS) Market
- 8.6.4.Australia Truck-as-a-Service (TaaS) Market
- 8.6.5.South Korea Truck-as-a-Service (TaaS) Market
- 8.6.6.Rest of Asia Pacific Truck-as-a-Service (TaaS) Market
- 8.7.Latin America Truck-as-a-Service (TaaS) Market Snapshot
- 8.7.1.Brazil Truck-as-a-Service (TaaS) Market
- 8.7.2.Mexico Truck-as-a-Service (TaaS) Market
- 8.8.Middle East & Africa Truck-as-a-Service (TaaS) Market
- 8.8.1.Saudi Arabia Truck-as-a-Service (TaaS) Market
- 8.8.2.South Africa Truck-as-a-Service (TaaS) Market
- 8.8.3.Rest of Middle East & Africa Truck-as-a-Service (TaaS) Market
Chapter 9.Competitive Intelligence
- 9.1.Key Company SWOT Analysis
- 9.1.1.Company 1
- 9.1.2.Company 2
- 9.1.3.Company 3
- 9.2.Top Market Strategies
- 9.3.Company Profiles
- 9.3.1. Convoy Inc. (U.S.)
- 9.3.1.1.Key Information
- 9.3.1.2.Overview
- 9.3.1.3.Financial (Subject to Data Availability)
- 9.3.1.4.Product Summary
- 9.3.1.5.Recent Developments
- 9.3.2.Trimble Transportation (U.S.)
- 9.3.3.Omnitracs LLC (U.S.)
- 9.3.4.OCTO Telematics Ltd. (Italy)
- 9.3.5.Microlise Limited. (India)
- 9.3.6.Masternaut Limited. (U.K.)
- 9.3.7.Transfix (U.S.)
- 9.3.8.Fleet Advantage LLC. (U.S.)
- 9.3.9.Volta Trucks (Sweden)
- 9.3.10.Fleet Complete (U.S.)
Chapter 10.Research Process
- 10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
- 10.2.Research Attributes
- 10.3.Research Assumption