Self-Driving Trucks Market huge growing upto 2025 due to fully electric, significantly use less gas and energy compared to conventional trucks, This in turn helps reduce the pollution.

According to a recent report published by Allied Market Research, titled, Self-Driving Truck Market by Level of Autonomy and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2025, the global 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.

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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.

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Increase in Number of Road Accidents

Increase in number of road accident globally due to several factors such as drink and drive, speed, distraction, and others create demand for self-driving truck. Further, the truck is expected to limit the road accident owing to its features such as following speed limits, adjusting the speed all the times, and taking over the steering. According to National Highway Transportation Safety Administration, in 2015- 35,092 people crashes on the U.S. roadways increase from 32,744 in 2014. Hence, rise in number of road accidents majorly drives the self-driving trucks market globally.

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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