Self-Driving Trucks worth $1,550 million by 2030| MarketsandMarkets

The Global Self-driving Trucks Market size is projected to reach USD 1,550 million by 2030, from USD 460 million in 2024, at a CAGR of 22.4%.

The autonomous truck segment is considered to be the future of the trucking and transportation industry. Especially after the global pandemic of COVID-19, many e-commerce and shipping companies will be looking to develop autonomous truck deliveries to avoid human contact.

The rise in road accidents, government regulations regarding safety features, companies eyeing a reduction in delivery & transportation costs, and the increasing need for efficient yet feature-rich modern trucks have compelled automotive OEMs to develop semi-autonomous and autonomous trucks. In this pursuit, automotive OEMs and technology providers are exploring ways to develop advanced autonomous driving technologies for trucks. Thus, major R&D activities in self-driving trucks are focused on software and sensors.

Top Players:

AB Volvo (Sweden), Robert Bosch (Germany), Continental AG (Germany), Denso (Japan), Aptiv (UK), Daimler (Germany), Paccar (US), Nvidia (US)

Top Start-ups:

Embark (US), Waymo (US), TuSimple (US), Tesla (US)

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North America is expected to lead the global market during the forecast period

The North American region is estimated to account for the largest share of the semi-autonomous and autonomous truck market. North America is the technology leader in autonomous technology. The region is home to some of the leading technology developers, such as Waymo, Uber, Intel, and Embark. These companies are focusing on the development of autonomous technology. Also, in the US, the testing of autonomous vehicles has started in some states. This will create an opportunity for further development of autonomous trucks. For instance, Daimler tested its level 4 autonomous truck on the streets of Virginia, US. Also, the region is dominated by pickup trucks having advanced semi-autonomous driving features. Ford and GMC are some of the leading players offering pickup trucks in the country. Tesla will enter the market soon with its 'Cybertruck' having all the semi-autonomous features and an optional autonomous driving feature as well.

The last-mile delivery truck segment is expected to be the largest market during the forecast

Using autonomous last-mile delivery trucks can help companies save 40% of the total cost. Also, the shortage of human delivery drivers/personnel and increasing e-commerce will be driving the Self-driving Trucks Market for last-mile delivery applications. For instance, the E-commerce giant, Amazon, has been eyeing the usage of autonomous last-mile delivery technology to cut the delivery cost and has invested in many tech companies related to it as well. Waymo and Embark are some of the companies that have been involved in the development of such delivery truck technologies. Apart from this, the COVID-19 pandemic will drive the human contactless delivery of goods.

The ultrasonic segment is estimated to lead the market during the forecast period

The ultrasonic segment is projected to have the largest market share in the semi-Self-driving Trucks Market by volume. Ultrasonic has a short-range and small Field of View (FoV). Hence, many ultrasonic sensors are used in semi-autonomous and autonomous trucks. Ultrasonic sensors are typically used for short-range object detection, which is applicable for parking ADAS features such as intelligent park assist. The cost of the ultrasonic sensors is less than other sensors. Currently, the cost of LIDARs is high, and generally, they are not installed in level 1 and level 2 semi-autonomous trucks.

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Self-driving Trucks Market and Key Application:

Level 4 Autonomous Truck - Level 4 trucks are highly automated trucks in which the system controls the steering, acceleration, and braking. The driving environment and dynamic driving tasks are also monitored and performed by the system. A vehicle with level 4 capability can do all the driving, but only in certain circumstances. The autonomous driving system notifies the driver when he can switch to the autonomous driving mode.

Last-Mile Delivery Truck - Last-mile delivery trucks are used for logistics purposes in the distribution centre or facility to the end-user. These trucks are witnessing high demand due to the rise of the e-commerce sector. The aim is to be able to deliver goods to the consumer end at a specific time without delays and to reduce the delivery cost to the company. Using autonomous last-mile delivery trucks can help companies save 40% of the total cost.

Truck Platooning - In truck platooning, two or more trucks are connected in a group with the help of connectivity technologies, autonomous driving, and artificial intelligence support systems such as adaptive cruise control and lane assist. These vehicles automatically keep a set close distance between each other. The truck at the head of the platoon acts as a leader, with the vehicles behind adapting and reacting to changes in its movement, requiring little or no action from the driver.

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