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.
This analysis is Frost & Sullivan’s strategic assessment of start-ups disrupting the commercial vehicle space. It identifies leading industry players across electrification, connected trucking, ADAS and autonomous trucking, and on-demand freight matching, rapidly expanding cross-regionally with a wide variety of competitive products, features, and services. A comprehensively packed and usage-based business model is the focus of leading start-ups. With a strong footprint in their native segment, these companies are gradually expanding their business offerings regionally and across the world. Cross-functional partnerships will ensure gradual long-term growth for companies emerging in the current transitionary environment and determine the success of their product penetration. North America and Europe have the highest concentration of start-ups, as these regions’ commercial vehicle industry environment is suitable for piloting and business growth. Of the total companies covered, 55.7% are based out of North America and South America, followed by Europe with 23.6%, Asia/APAC with 19.2%, and Africa with 1.5%.
GROWTH PIPELINE DIALOG™
Take your first step towards achieving growth-centric solutions with our
Growth Pipeline Dialog™. Speak to our industry experts in a complimentary open discussion that will spark innovative thinking and growth opportunities that will benefit your organization.