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"Depending on the nature of the technology, market majors can lower R&D expenditure by investing in or partnering with start-ups," said Frost & Sullivan Mobility Research Analyst Krishna Chaithanya Bathala. "OEMs and telematics service providers can also reduce product development time and time to market by acquiring off-the-shelf technologies and products from start-ups, and position themselves as one-stop shops for fleet operators."
While the connected truck market is showing signs of exceptional growth, truck fleet owners are still concerned about fundamental issues such as underutilized capacity and empty backhauls. In response, many technology start-ups have emerged with novel fleet management solutions which could generate $23 billion by 2025.
"Significantly, the connected truck market is gradually breaking out of the hold of traditional freight brokers to adopt digital load boards and, more recently, automated platforms, causing total market disruption," noted Bathala. "Telematics is the backbone in this transition, efficiently connecting shippers and carriers based on real-time location and load capacity status of trucks. Start-ups that are both market and technology savvy will be best poised to succeed in this extremely lucrative market."
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Start-ups Disrupting Global Connected Truck Market, 2016–2017
Corporate Communications – North America
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/partnering-with-start-ups-creates-strong-growth-opportunities-for-oems-and-telematics-service-providers-tsps-in-connected-truck-market-300393938.html
SOURCE Frost & Sullivan