Self-Driving Truck Market for Automotive Industry Opportunities, Market Dynamics and New Trends

North America is expected to dominate the global self-driving truck market during the forecast period. In addition, in 2020, China is also projected to remain dominant in the Asia-Pacific market. Similarly, the U.S. is anticipated to dominate the market in North America, whereas the UK is anticipated to lead in Europe in 2020.

Self-Driving Truck Market was valued at $1,004 million in 2020, and is projected to reach at $1,669 million by 2025, growing at a CAGR of 10.4% from 2020 to 2025, according to the latest report published by Allied Market Research.

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At present, North America dominates this market. In 2020, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in Europe in 2020. In the same year, the U.S. is estimated to dominate the North American market.

The global self-driving truck market is projected to register significant growth during the forecast period attributed to rise in environmental concern and increase in number of road accidents. However, threat of hackers and rise in cybercrime restrict the growth of the market.

In 2020, based on level of autonomy, the level one segment is anticipated to dominate the global self-driving truck market, in terms of revenue. However, based on industry vertical, construction & manufacturing is projected to dominate the global market in the same year.

Security Concern:

Self-driving truck has transformed the travelling experience, owing to its benefits such as minimum cost, high speed, environment-friendly nature, and energy-efficient approach. However, privacy and security concerns related to information access from the operating software is expected to hinder the market growth as these software are vulnerable to hackers. Moreover, even if self-driving truck has supervisor inside the vehicle there is the possibility that hackers can infiltrate the software and overrule the controls. Thus, increase in threat from hackers and rise in cybercrime is expected to limit the market growth in the coming years.

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Key Findings of the Self-driving Truck Market:

• Level one is expected to generate the highest revenue in 2020.
• In 2020, the construction & manufacturing segment is projected to account the highest revenue in the self-driving truck market.
• Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

Key Market Players:

• BMW AG
• Isuzu Motors Limited
• General Motors
• Otto motors
• AB Volvo
• Daimler AG
• Tesla
• Waymo
• Toyota
• Volkswagen.

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