The market size of the global truck-as-a-service (TaaS) stands at USD 36.34 billion in 2024 and is expected to reach from USD 43.87 billion in 2025 to USD 256.34 billion in 2035, with a CAGR of 26.78% throughout the forecast period (2025–2035).
Truck-as-a-Service is a business model that provides transport solutions to individuals and companies without investing in trucks or fleet management. Similar to Software-as-a-Service (SaaS), TaaS gives users access to trucks on a subscription or pay-per-use basis, allowing users to use trucks whenever they need them without owning them or having to pay maintenance charges. The providers usually have various services such as vehicle leasing, maintenance, insurance, and logistics management offered in line with the specific requirements of their clients.
Over the past few years, due to the fast growth of the internet, there has been a corresponding growth of the e-commerce sector, which, in combination with an increase in urbanization, is projected to raise the demand for quick and efficient transport systems. This is projected to boost the global market growth. In addition, the market is fueled by collaborations and alliances between major players, who pool their technology, resources, and expertise to create more innovative and efficient solutions, thus driving opportunities for market growth.
TaaS Market New Trends
Growing adoption of digital freight solutions
One of the most significant trends in the international truck-as-a-service market is the increasing use of digital freight solutions. These are technologies that incorporate the use of AI, machine learning, and blockchain to maximize logistics, making it more efficient to match, route, and optimize loads. Businesses using digital platforms enjoy lower operational costs and better supply chain visibility.
For example, Uber Freight and Convoy have shown that digital freight solutions have been able to reduce empty miles by as much as 20% in comparison to conventional shipping practices, resulting in cost savings and environmental gain.
These innovations lead the charge in determining the future of freight management and logistics.
Market Restraint
Infrastructure constraints
Infrastructure constraints represent a major hurdle for the truck-as-a-service market. Creating TaaS involves strong infrastructure in the form of charging stations for electric trucks, maintenance shops, and digital infrastructure for communication and data exchange. But such infrastructure is either scarce or completely missing in most places. Without enough charging stations and maintenance shops, scalability and dependability of TaaS solutions are threatened.
In addition, the lack of digital infrastructure stifles real-time communication and coordination among stakeholders, which creates inefficiencies and operational difficulties. Resolving these infrastructure shortcomings necessitates high investment and public-private partnership efforts to develop the requisite physical and digital infrastructure. As long as these infrastructure deficits persist, truck-as-a-service growth and adoption will be limited, especially in areas with weak support systems.
Market Opportunity
Collaborations and partnerships
The major market players engage in partnerships and collaborations that are central to driving the TaaS market. Through partnerships with technology companies for fleet management, manufacturers for vehicle upgrades, and logistics providers for route optimization, these providers can provide end-to-end and effective services. These partnerships allow TaaS providers to provide innovative solutions, increase their coverage, and effectively address the changing needs of the market.
For example, in April 2023, Volta Trucks, a leading and pioneering producer of all-electric commercial vehicles and supplier of related services, joined forces with NEoT Green Mobility to establish financing solutions for clients. The intention is to provide operating lease options to fund up to 2,000 trucks from 2023.
The funds will enable Volta Trucks to offer customers with varied financing plans for the full-electric Volta Zero under the company’s Truck as a Service offering. Such partnerships are projected to present opportunities for market expansion.
List of key players in Truck-as-a-Service (TaaS) Market
- AB Volvo
- Ashok Leyland Ltd.
- Mercedes Benz Group AG
- Continental AG, Convoy Inc.
- Fleet Advantage LLC
- Fleet Complete
- Inseego Corp.
- Microlise Group Plc
- Robert Bosch GmbH
- Tata Motors Ltd.
- Total Transportation Services
- Ford Motor Co.
- Uber Technologies Inc.
- Volkswagen AG
- Volta Trucks
- Toyota Motor Corp.
- Werner Enterprises Inc.
Truck-as-a-Service (TaaS) Market Segmentations
By Truck Type (2021-2035)
- Light Duty Trucks
- Heavy Duty Trucks
By Service Type (2021-2035)
- Digital Freight Brokerage
- Telematics
- Truck Platooning
- Rental and Leasing
By End-User (2021-2035)
- Automotive and Transportation
- Manufacturing
- Retail
- FMCG
- Pharmaceutical and Healthcare
- Chemicals
- Hi-tech Industry Products
- Food and Beverages
- Others
Recent Developments
June 2024 – Ryder introduced a new fleet EV management solution in an effort to make the shift to electric trucks as smooth as possible under TaaS offerings, thereby demonstrating the extent of Ryder’s commitment to sustainability and next-gen fleet technologies.
Analyst Opinion
According to our research, the worldwide Truck-as-a-Service market is witnessing tremendous growth driven by high-speed urbanization, the growth of e-commerce, and the rising need for effective logistics solutions. Truck-as-a-Service is revolutionizing the transportation industry by offering flexible, on-demand truck rental and fleet management solutions, which are essential for maximizing operational efficiency.
Key drivers for growth are the demand for affordable and scalable solutions in industries like FMCG and retail, in addition to advances in telematics, digital freight brokerage, and artificial intelligence-based logistics platforms. Still, infrastructure constraints, especially in developing markets, pose a challenge.
Nevertheless, opportunities lie through partnerships, technology advancements, and geographic expansions, particularly in North America and Asia-Pacific, where such solutions are on the rise to meet changing market requirements.
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