The commercial trucking sector is rapidly transforming with the influx of advanced technologies, data-aided business models, automation, and the need to reduce carbon gas emissions. Though the industry experienced a slump during the pandemic in 2020, operators quickly realigned their business models and emerged stronger.
• During the pandemic, emerging companies faced stiff operational difficulties and sustained development and business growth prospects.
• Several commercial vehicle start-ups recognize the business and revenue opportunity transformation and give intense competition to traditional and incumbent industry players.
• The business model around owning and operating a commercial vehicle is expanding into new segments with technology, machine learning, artificial intelligence, connectivity, and business analytics.
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