Edit Content

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Truck-as-a-Service (TaaS) Market to reach USD 436.01 billion by the end of 2030

Global Truck-as-a-Service (TaaS) Market Size Study & Forecast, by Truck Type By Truck Type (Light Duty Trucks and Heavy Duty Trucks), By Service Type (Digital Freight Brokerage, Telematics, Truck Platooning, and Rental and Leasing), By End Use (Automobiles, Machinery, Apparels & Footwear, Pharmaceutical Products, Retail, Electronics, Petrochemicals, Agriculture, Building Materials, and Others), and Regional Analysis, 2023-2030

Product Code: ALTL-16779756
Publish Date: 10-03-2024
Page: 200

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:
Ø 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.
Ø 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.
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Truck Type, Service Type, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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
Truck Platooning
Rental and Leasing

By End Use:
Apparels & Footwear
Pharmaceutical Products
Building Materials

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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 Surge in online shopping and diverse delivery options Growing digitization in the transportation sectors
3.1.2. Market Challenges Data security and privacy concerns Lack of uniformity in regulations
3.1.3. Market Opportunities Increasing integration of advanced technologies in TaaS 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 Truck Type breakdown estimates & forecasts, 2020-2030 Service Type breakdown estimates & forecasts, 2020-2030 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.) Key Information Overview Financial (Subject to Data Availability) Product Summary 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now