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Autonomous Commercial Vehicles Being Deployed to Reduce Road Accidents

09-28-2021 12:39 PM CET | IT, New Media & Software

Press release from: P&S Intelligence

Autonomous Commercial Vehicle Market Research Report By P&S Intelligence

Autonomous Commercial Vehicle Market Research Report By P&S Intelligence

With the growth of the manufacturing and retail industries, an efficient means to transport goods from one place to another is becoming more important every year. Similarly, the burgeoning population, which the United Nations (UN) expects to touch 10.9 billion by 2100, is propelling the need for passenger transportation. With these factors, the number of large commercial vehicles, including trucks and buses, is rising. However, these vehicles are often part or cause of road accidents because they are slightly difficult to maneuver, and drivers aren’t always able to see what is behind them.

As a result, with the surging incidence of road accidents, which kill 1.35 million people each year, as per the World Health Organization (WHO), the need for making transportation safer is increasing. P&S Intelligence cites this factor while projecting an 8.2% CAGR for the autonomous commercial vehicle market during 2020 and 2030. It is now well known that most of the accidents are caused by humans themselves, and few due to machine/vehicle system error. As a result, in several countries, the adoption of functionalities that can aid the human driver or even completely replace them while driving has been mandated.

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For instance, the National Highway Traffic Safety Administration (NHTSA) under the U.S. Department of Transportation has made the integration of electronic logging devices (ELDs) in all trucks necessary. Another among the most-popular systems in this regard is the advanced driver-assistance system (ADAS), which includes functionalities such as automatic emergency braking, anti-lock braking, adaptive cruise control, and automatic parking. Any vehicle with any of these functionalities is classified as a level 1 semi-autonomous vehicle, which is why more semi-autonomous trucks and buses than fully autonomous ones have been sold around the world till now.

Another key factor that will aid the deployment of autonomous vehicles around the world is the emergence of autonomous truck start-ups, including TuSimple Inc., Kodiak Robotics Inc., Embark Trucks Inc., and Einride AB. Autonomous trucks already outnumber autonomous buses in sales, and with such companies continuing to receiving heavy funding, the trucking industry might be looking at a major technological shift in the coming years. Trucks often cover long distances, of over 500 km, on a single journey, which leads to driver fatigue. With ADAS and autonomous features, the risk of road crashes, as a result, would come down massively.

Hence, owing to the strong government support and a large trucking industry, the autonomous commercial vehicle market is currently dominated by North America. Trucks form the backbone of freight transportation in the continent, carrying goods worth $721 billion in 2017, compared to trains, which carried goods worth only $174 billion that year, as per the U.S. Bureau of Transportation Statistics. Along with North America, the sales of autonomous commercial vehicles are also picking up in Asia-Pacific (APAC), which is home to the most people and rapidly growing manufacturing and e-commerce industries.

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Therefore, as commercial vehicles carry a substantial risk of road crashes, the integration of autonomous driving features in them is expected to make roads safer.

P&S Intelligence
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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