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Autonomous Truck Market: Latest Trends & Industry Vision by 2030

01-17-2020 11:48 AM CET | Logistics & Transport

Press release from: MarketsandMarkets

Autonomous Truck Market: Latest Trends & Industry Vision by 2030

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%.

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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.

Opportunities:
1 Increasing Demand for 5G Technology for Vehicle Connectivity
2 Latent Demand for Semi-Autonomous and Autonomous Truck Platooning

The ecosystem of the autonomous truck market consists of truck manufacturers such as Volkswagen (Germany), Daimler (Germany), Continental (Germany), Denso (Japan), and others.

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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 trucks 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 trucks 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 global 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.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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