Press release
Semi-autonomous Truck Market : Innovations and Advancements to Encourage Growth
Semi-autonomous Truck Market
Major players operating in the semi-autonomous truck market are Continental, Aptiv, NXP, Daimler, Volvo, Waymo, TomTom, Didi Chuxing, Siemens, Tusimple, Tesla, DENSO, ZF, NVIDIA, Qualcomm, Paccar, Intel, Kamaz, Scania, and Valeo.
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Europe is expected to dominate the semi-autonomous truck market over the forecast period due to the presence of major automotive manufacturers in the region. Major European truck manufacturers, such as Daimler, Volvo, and Volkswagen, are emphasizing on the research and development of autonomous vehicles. The huge adoption of heavy trucks in the region is another factor fueling market growth. For instance, according to the International Organization of Motor Vehicle Manufacturers, the number of heavy trucks produced in Europe was 296,690 in 2018. Government policies to improve the safety on highways are also supporting the market growth in the region. For instance, in November 2018, the UK government rolled out 50 new measures to improve road safety. These new measurements helped in enhancing road-safety across the UK.
Semi-autonomous trucks can be used for applications, such as platooning, helping logistics companies to manage their fleet more efficiently. The shortage of skilled truck drivers for heavy trucks can be resolved using semi-autonomous trucks. The assistance for drivers while driving trucks can also improve the driving performance and the overall efficiency of the fleet. The growing concerns over data privacy and security of data transmitted over the wireless network can restrict the semi-autonomous truck market growth. The lack of information technology infrastructure in developing countries can affect the adoption of semi-autonomous trucks.
Semi-Autonomous Truck Market size is expected to show significant growth over the forecast period due to the increase in awareness regarding on-road safety, and demand for optimizing fleet operations for transportation and logistics companies. Advancements in the automotive sector, such as ADAS and self-driving vehicles, are also contributing significantly to market growth. The increase in the number of truck accidents on highways is enabling transportation and logistics companies to migrate toward semi-autonomous trucks. Government authorities are taking initiatives to reduce the number of fatalities on highways. The cost benefits of semi-autonomous trucks associated with fuel consumption is another factor fueling semi-autonomous truck market growth. The adoption of electric & hybrid vehicles is also playing a key role in market growth.
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Semi-autonomous Truck Market, By Level of Automation, 2014-2025 (USD Million)
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
Semi-autonomous Truck Market, By Propulsion 2014-2025 (USD Million)
- Diesel
- Electric
- Hybrid
Semi-autonomous Truck Market, By Sensor Type 2014-2025 (USD Million)
- Camera
- Radar
- LiDAR
- Ultrasonic
- Semi-autonomous Truck Market, By Truck Type 2014-2025 (USD Million)
- Light Duty Truck
- Medium Duty Truck
- Heavy Duty Truck
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