Truck Platooning Market is Anticipated to Expand upto $9.91 Billion in 2029

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What Is the Forecasted Market Growth Rate of the Truck Platooning Industry?
In recent years, the truck platooning market has witnessed a substantial expansion. The market size is predicted to increase from $2.72 billion in 2024 to $3.53 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 29.9%. Factors contributing to growth in the historical period include improved fuel efficiency and cost cutting, regulatory initiatives and emission standard enforcement, optimizations in supply chain and logistics efficiency, and the emphasis on road safety and accident prevention.

How Will the Truck Platooning Market Size Evolve From 2025 to 2029?
In the coming years, the truck platooning market is anticipated to undergo substantial expansion. It is predicted to reach a valuation of $9.91 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 29.5%. This expected growth in the designated forecast period is linked to continuous focus on sustainability, innovations in connected vehicle technologies, advancements in automated driving abilities, the rise in global trade and freight movement, investments in infrastructure, and smart transportation initiatives. Key trends for this period are expected to be trial runs and pilot schemes, implementation of cybersecurity safeguards, integration with connected infrastructures, emphasis on driver training and education, and the entry of new contenders in the market.

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What Are the Main Growth Drivers in the Truck Platooning Market Today?
The rise in commercial vehicle sales is predicted to catalyze the expansion of the truck platooning market. Commercial vehicles, which are primarily vehicles used for business-related transportation of goods or individuals, are proliferating. This surge is creating a demand for platooning technologies due to the advantages they present, including increased efficiency, minimized waste, and enhanced fuel economy. Trucks, a subset of commercial vehicles, are also experiencing growth. This growth brings an increased need for operational improvements and enhanced road safety, creating further demand for platooning. To illustrate, Rushlane, an automotive firm based in India, reported an increase in commercial vehicle sales from 54,107 units in August 2021 to 67,158 units in August 2022. Consequently, the escalating sales of commercial vehicles are fueling the expansion of the truck platooning market.

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Which Truck Platooning Market Segment Is Expected to Lead Through 2029?
The truck platooning market covered in this report is segmented -

1) By Services: Telematic Based Services, Automatic Crash Notification, Emergency Calling, Navigation And Infotainment, On Road Assistance, Remote Diagnostics, Vehicle Tracking, Other Services
2) By Component: Forward Looking Camera, System Display With Rear Time Camera, RADAR Base Collision Mitigation, LiDAR
3) By Platooning Type: Driver-Assistive Tuck Platooning (DATP), Autonomous Truck Platooning
4) By Communication Technology: Vehicle-To-Infrastructure (V2I), Vehicle-To-Vehicle (V2V), Vehicle-To-Everything (V2X)
5) By Autonomous Level: Semi-Autonomous, Full-Autonomous

Subsegments:
1) By Telematic Based Services: Fleet Management, Data Analytics
2) By Automatic Crash Notification: Accident Detection, Emergency Response Coordination
3) By Emergency Calling: SOS Services, Driver Assistance
4) By Navigation And Infotainment: GPS Navigation, Entertainment Systems
5) By On Road Assistance: Towing Services, Mechanical Assistance
6) By Remote Diagnostics: Engine Diagnostics, Performance Monitoring
7) By Vehicle Tracking: Real-Time Location Tracking, Route Optimization
8) By Other Services: Driver Training Programs, Compliance Management

Which Market Trends Are Expected to Dominate Truck Platooning Industry Growth?
Leading corporations in the truck platooning industry are embracing innovative technologies to retain their market dominance. Employing progressive technologies means integrating breakthrough tools, systems, or methods into their operations for better efficiency, enhanced performance and competitive superiority. For example, in September 2023, a pulp and paper firm based in Canada, Resolute Forest Products - previously known as AbitibiBowater Inc, is actively contributing to a groundbreaking off-highway automated vehicle (AV) technology, commonly referred to as truck platooning. Initial testing involved a pickup truck prototype in both summer and winter conditions. Future stages will evaluate performance in tougher situations using loaded cargo in cold, icy and low-visibility conditions with fully-equipped Class 8 Trucks, integrated with the Autonomous platform of RRAI (Telecom Regulatory Authority of India).

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Which Companies Hold the Largest Market Share in the Truck Platooning Sector?
Major companies operating in the truck platooning market include Daimler AG, Aktiebolaget Volvo, Continental AG, Navistar Inc., Scania AB, IVECO SpA, Hino Motors Ltd., Nvidia Corporation, Bendix Corporation, MAN Truck & Bus SE, DAF Trucks NV, Omnitracs LLC, Robert Bosch GmbH, ZF Friedrichshafen AG, PACCAR Inc., WABCO Holdings Inc., Stoneridge Inc., Denso Corporation, Magna International Inc., Aptiv plc, Autoliv Inc., Valeo SA, Mobileye Global Inc., TomTom NV, Trimble Inc., Waymo LLC, Aurora Innovation Inc., TuSimple Holdings Inc., Embark Trucks Inc., Plus.ai, Kodiak Robotics Inc., Locomation Inc.

Where Is the Truck Platooning Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the truck platooning market in 2024. North America is expected to be the truck platooning market report fastest-growing region in the forecast period. The regions covered in the truck platooning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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