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(I-AutoNewsWire.com, January 08, 2020 ) The Autonomous Truck Market is estimated to be 15.2 thousand units in 2025 and is projected to reach 81.8 thousand units by 2030, at a CAGR of 39.96%.
The Semi-Autonomous Truck Market is estimated to be 260.1 thousand units in 2018 and is projected to reach 1,132.3 thousand units by 2025, at a CAGR of 23.38%.
The growth of this market is fueled by technological advancements in the field of connected vehicle and driver assistance features used in the vehicles. Connected vehicles are the stepping stones for autonomous vehicles and trucks as they can communicate with other vehicles and their surroundings.
The autonomous truck market is dominated by a few globally established players such as Bosch (Germany), Continental (Germany), Aptiv (UK), ZF (Germany), and Denso (Japan). Moreover, technology developers such as Uber (US), Waymo (US), and TuSimple are providing momentum to the growth of the market.
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The market growth is triggered by various factors such as the need for ease in driving and the increasing concerns of safety and security, which have led to the development of high-end technology and safety systems. Moreover, the increasing concern of truck driver shortage in many countries such as the US and Japan can be addressed with the help of semi-autonomous and autonomous trucks for goods transportation. Truck platooning using semi-autonomous and autonomous trucks can further improve efficiency and productivity and reduce CO2 emission.
In the by sensor segment, the autonomous truck market has been segmented into radar, LiDAR, ultrasonic, and camera. The market for LiDAR is estimated to be the largest for the autonomous truck market as it can provide reliable data of truck surroundings. However, the major challenge in the adoption of the LiDAR sensor in semi-autonomous trucks is its high cost. The Radar segment is expected to dominate the semi-autonomous truck market.
The semi-autonomous truck market has been segmented, by ADAS features, into Adaptive Cruise Control, Lane Assist, Intelligent Park Assist, Traffic Jam Assist, Autonomous Emergency Braking, Blind Spot Detection, and Highway Pilot. Automaticmergency Braking and Adaptive Cruise Control are estimated to hold the largest market share between 2018 and 2025. In the US, automatic emergency braking systems are expected to be standard in vehicles by 2022 according to the National Highway Traffic Safety Administration (NHTSA). The market for Blind Spot Detection would grow at the highest CAGR to increase road safety and decrease the number of accidents due to human errors.
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The European region is estimated to dominate the semi-autonomous truck market, in terms of volume, in 2018. The region comprises technologically advanced countries such as Germany, France, and others. Also, European truck manufacturers such as Daimler (Germany), Volkswagen (Germany), and Volvo (Sweden) are focusing on research and development activities to develop autonomous vehicles. North America is expected to dominate the autonomous truck market (volume) followed by Europe and the Asia Pacific. The region’s key technology innovators such as Waymo (US), Uber (US), and Embark (US) are investing in R&D to test the autonomous vehicle technology.
• Automobile manufacturers
• Automotive associations and organizations
• Automotive components manufacturers
• Automotive dealers and distributors
• Automotive experts and investors
• Automotive Raw material suppliers
• Automotive sensor manufacturers and providers
• Automotive Service providers
• Companies operating in the autonomous truck eco-system
• Electric vehicle manufacturers
• EV charging infrastructure providers
• Insurance service providers
• Truck manufacturers/OEMs
• Trucking associations
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Mr. Shelly Singh