INDUSTRIES

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MARKETSAIincommercialvehiclesCHAPTER

01OverviewArtificialintelligence(AI)startupfundingworldwidefrom2011to2023(inbillionU.S.dollars),byquarterAIfundingworldwide2011-2023,byquarterQ1Q2Q3Q48070605040302010020112012201320142015201620172018201920202021202220233Description:Inthefirstquarterof2023,thetotalartificialintelligence(AI)startupfundingworldwidehadslumpedtoalownotseensinceearly2018,droppingto5.4billionU.S.dollars.Thisisacorrectionfromtheincrediblelevelsofstartupfundingin2021and2022followingtheCovid-19pandemic.Asabroadereconomiccrisisloomsin2023thefundingforlessreliableandforwardlookingprojectslikestartupsshrinks.ReadmoreNote(s):Worldwide;2011to2023Source(s):CBInsights;estimates;VentureScannerShareofartificialintelligence(AI)startupdealsbyquarterfrom2019-2023,byregionShareoffundingdealsforAIstartupsbyquarter2019-2023,byregionUnitedStatesAsiaEuropeAllotherregions120%100%6%4%6%5%5%5%5%6%5%5%6%6%7%7%6%6%7%6%7%6%20%19%21%20%22%22%23%23%21%21%22%21%24%23%21%24%24%25%80%60%40%20%0%29%27%26%49%28%45%33%43%30%43%35%40%30%43%28%43%29%43%34%40%24%45%33%39%34%38%31%40%34%39%20%46%31%39%30%40%29%40%29%40%25%40%Q1'19

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Q4'234Description:TheUnitedStatescontinuestoclaimthegreaterpartofregionaldealsforstartupsin2023.ThenumberofdealsintheU.S.hasremainedrelativelystablesince2019.Asiacontinuestohaveahighnumberofdeals,justaboveEurope.Europehasseenanincreaseintherateofstartupdealssinceaslightdipin2021butisstilloutclassedbyitscompetitorsintheU.S.andAsia.ReadmoreNote(s):Worldwide;2023Source(s):CBInsightsFundingofartificialintelligence(AI)startupcompaniesintheUnitedStatesfrom2020to2023,byquarter(inbillionU.S.dollars)AIstartupcompanyfundingintheUnitedStates2020-2023,byquarter161413.5141210811.8119.59.47.87.76.96.365.34.84.64.43.83.8420Q1'20Q2'20Q3'20Q4'20Q1'21Q2'21Q3'21Q4'21Q1'22Q2'22Q3'22Q4'22Q1'23Q2'23Q3'23Q4'235Description:Fundingforartificialintelligence(AI)focusedonstartupsdwindledsignificantlyintheUnitedStatesatthebeginningof2022,inlinewithglobaltrends.TheexpenditureonAIandtechnologyhadbeenonasteadygrowthtrendthrough2020intolate2021.ItismostlikelythattheeconomicinsecuritysurroundingtheRussianinvasionofUkraineandtheresultingchaosinenergymarketshadcausedinvestorstoturntheirmoneytowardsmorebasicbusinessesthatwouldbeconsideredmore[...]

ReadmoreNote(s):UnitedStates;2020to2023Source(s):CBInsightsCHAPTER

02FinancialsMarketsizeoftheglobalcommercialvehiclefleetmanagementmarketbysolutionfrom2020to2023,withaforecastin2028(inbillionU.S.dollars)Globalcommercialvehiclefleetmanagementmarketbysolution2020-2028RealTimeLocationTrackingFuelManagementAssetManagementDriverManagementMaintenanceManagementOther30252015105020202021202220232028*7Description:Betweentheyears2020and2023,theglobalcommercialvehiclefleetmanagementmarkethassteadilyincreasedfromatotalof6.62billionU.S.dollarsin2020tojustover10.3billionU.S.dollarsin2023.Throughthedatarange,thereal-timelocationtrackingmarketheldthelargestshareofthemarket,totaling3.34billionU.S.dollarsin2023.ReadmoreNote(s):Worldwide;2020to2023;*Forecast.Source(s):TanalyzeMarketsizeoftheglobalcommercialvehiclefleetmanagementmarketbyvehicletypefrom2020to2023,withaforecastin2028(inbillionU.S.dollars)Globalcommercialvehiclefleetmanagementmarketbyvehicletype2020-2028LightcommercialvehiclesHeavycommercialvehicles30252015105020202021202220232028*8Description:Betweentheyears2020and2023,heavycommercialvehicleshadthelargestmarketvalueofcommercialvehiclemanagementtechnologyworldwide,totaling7.3billionU.S.dollarsin2023.By2028,bothmarketsaresettoincreasewithheavycommercialvehiclesmaintainingthelargestmarketvaluecomparedtolightcommercialvehicles.ReadmoreNote(s):2020to2023;*Forecast.Source(s):TanalyzeMarketsizeoftheglobalcommercialvehiclefleetmanagementmarketbyregionfrom2020to2023,withaforecastin2028(inbillionU.S.dollars)Globalcommercialvehiclefleetmanagementmarketbyregion2020-2028NorthAmericaEuropeAsia-PacificRestoftheworld30252015105020202021202220232028*9Description:Betweentheyears2020and2023,theNorthAmericanregionhadthelargestmarketvalueofcommercialvehiclemanagementtechnologyworldwide,totaling7.13billionU.S.dollarsin2023.By2028,allmarketsaresettoincreasewiththeNorthAmericanregionmaintainingthelargestmarketvaluecomparedtotheotherregions.ReadmoreNote(s):Worldwide;2020to2023;*Forecast.Source(s):TanalyzeTotalvalueoftheworldwidecargodronemarketin2023,withaforecastthrough2030(inmillionU.S.dollars)Globalcargodronemarketsizeforecast2023-203020,00018,00016,00014,00012,00010,0008,00017,88111,5307,4346,0004,7934,0003,0901,9922,00001,285828534202220232024*2025*2026*2027*2028*2029*2030*10Description:Between2023and2030,theglobalcargodronemarketissettoincreasebyover17billionU.S.dollars.Themostsignificantincreaseisforecasttotakeplacebetween2027and2029,upfrom4.79billionto11.53billionU.Sdollars,ariseofover140percent.ReadmoreNote(s):Worldwide;December2023;*Forecast.ReadmoreSource(s):RolandBergerMarketsizeofglobalcommercialvehiclefleetmanagementworldwidefrom2020to2023,withforecastsuntil2028(inbillionU.Sdollars)Globalcommercialvehiclefleetmanagementmarket2020-2028302524.6120.52017.1514.421510512.1710.3120238.787.836.6202020202120222024*2025*2026*2027*2028*11Description:Betweentheyears2020and2023,theglobalcommercialvehiclefleetmanagementmarkethassteadilyincreasedfrom6.62billionU.S.dollarsin2020tojustover10.3billionU.S.dollarsin2023.By2028,themarketissettoincreasetoover24BillionU.S.dollars,morethandoublethatof2023.ReadmoreNote(s):Worldwide;2020to2023;*Forecast.Source(s):TanalyzeComparisonofautonomousandhumandriventruckloaddeliverycostsin2023(inpertonmiles)Costofautonomousandhumandriventruckloaddeliveries20230.10.070.10.10.10.00.00.00.00.00.03HumandrivendieseltruckAutonomouselectrictruck12Description:In2023,autonomousdeliverycostsweredecisivelylessthanthecostsoftruckloaddeliveriesusinghumandrivers,costingonly0.03centspertonmilecomparedtothehumancostof0.07centspertonmile.Thisisduetotheloweroperatingcostsofautonomousvehicles,suchasthepriceoffuelandtheexpenseofhiringandtrainingahumanbeingtooperatethevehicle.ReadmoreNote(s):Worldwide;2023Source(s):ArkInvestComparisonofautonomousandhumandrivenlocalbatchdeliverycostsin2023(costpertrip)Costofautonomousandhumandrivenlocalbatchdeliveries20233.02.42.52.01.51.00.50.00.4HumandrivendeliveryRollingintergratedtrafficrobot13Description:In2023,autonomouslocalbatchdeliverycostsweredecisivelylessthanthecostsofdeliveriesusinghumandrivers,costingonly0.40centspertripcomparedtothehumancostof2.40centspertrip.Thisisduetotheloweroperatingcostsofautonomousvehicles,suchasthepriceoffuelandtheexpenseofhiringandtrainingahumanbeingtooperatethevehicle.ReadmoreNote(s):Worldwide;2023Source(s):ArkInvestComparisonofautonomousandhumandrivenlocalsmallitemdeliverycostsin2023(costpertrip)Costofautonomousandhumandrivenlocalsmallitemdeliveries202365.4543210.250AppdeliveryDrone14Description:In2023,localsmallitemdeliveriescarriedoutbydronescosteddecisivelylessthanthecostsofdeliveriesusinghumandrivers,costingonly0.25centspertripcomparedtothehumancostof5.40centspertrip.Thisisduetotheloweroperatingcostsofautonomousvehicles,suchasthepriceoffuelandtheexpenseofhiringandtrainingahumanbeingtooperatethevehicle.ReadmoreNote(s):Worldwide;2023Source(s):ArkInvestCHAPTER

03CompaniesTopselfdrivingtruckstartupsin2024,byamountoffunding(inmillionU.Sdollars)Topselfdrivingtruckstartupsin2024800720678700600500400300200100065264862816511583.57052PlusAIInceptioEinrideTuSimpleConigitalKodiakRoboticsEmbarkWaabiiSeeIkeTechnology16Description:AccordingtoTraxcntechnologiesLtd,theSanFranciscobasedstartupPlusAIgainedthemostfunding,generatingaround720millionU.Sdollarsby2024.Outofthetoptencompanieslisted,7ofthetopstartupsarebasedintheUnitedStateswiththeexceptionofEinride(Sweden),Waabi(Canada)andConigital(UnitedKingdom).ReadmoreNote(s):Worldwide;2024Source(s):TracxnTechnologiesTotalfundingobtainedbyEinridefromJune2019toAugust2023(inmillionU.Sdollars)TotalfundingobtainedbyEinride2019-20232502001501002001105025151000Jun2019Oct2019Oct2020May2021Dec2022Aug202317Description:BetweenJune2019andAugust2023,theSwedishautomatedtransportmanufacturerEinrideobtainedatotalof360millionU.Sdollarsworthoffunding.ThelargestamountoffundingobtainedwasinDecember2022,with200millionU.Sdollarsofinvestment,equatingtooverhalfthetotalfigure.ThelowestamountoffundinggivenwasinAugust2023wherenofundingwasprovidedbythecompaniesinvestors.ReadmoreNote(s):NorthAmerica;September2023Source(s):TracxnTechnologiesRevenueofTrimbleInc.in2022,bysegmentTrimbleInc.revenuebysegment2022Transportation16.5BuildingsandInfrastructure40.6Geospatial20.6ResourcesandUtilities22.318Description:In2022,theBuildingsandInfrastructuresegmentmadeupthelargestportionofrevenueofTrimbleInc,contributingover40percentoftotalrevenue.Thetransportationsegmentmadeupthelowestamountofrevenue,contributingaroundonly16.5percent.TrimbleInc.producespositioningtechnologysolutionsforlogisticalprocessesandisbasedinColorado.ReadmoreNote(s):Worldwide;2022Source(s):TanalyzeRevenueofPowerFleetInc.between2018and2022(inmillionU.S.dollars)PowerFleet,Inc.revenue2018-20221601401201008060402002018201920202021202219Description:In2022,PowerFleetIncreportedatotalrevenueof135millionU.S.dollars,almost10millionmorethantheprevious