Press release
Soaring Demand Set to Propel Truck Platooning Systems Market to $2.42 Billion by 2029
Truck Platooning Systems Market
What Will the Truck Platooning Systems Industry Market Size Be by 2025?
In recent times, the truck platooning systems market has seen a significant surge in size. The market is forecasted to expand from $1.13 billion in 2024 to $1.32 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.1%. Reasons for the growth observed in the historic period include legislative demands, the development of cooperative and automated mobility, improvements in supply chain logistics, and emphasis on safety measures.
What's the Long-Term Growth Forecast for the Truck Platooning Systems Market Size Through 2029?
The market size for truck platooning systems is anticipated to experience swift expansion in the ensuing years. It's predicted to reach $2.42 billion by 2029 with a compound annual growth rate (CAGR) of 16.4%. The anticipated growth during the forecasted period is due to factors such as traffic congestion alongside road capacity, the growing acceptance in the freight industry, enhanced safety measures, rising demand for freight, and increased focus on automation. Some major trends to watch out for within this period include the creation of multi-brand platooning solutions, the harmonization and standardization of regulations, and the appearance of hybrid platooning models.
View the full report here:
https://www.thebusinessresearchcompany.com/report/truck-platooning-systems-global-market-report
What Are the Key Growth Drivers Fueling the Truck Platooning Systems Market Expansion?
The truck platooning systems market's expansion is predicted to be fueled by an increasing number of commercial vehicles. Designed primarily for business purposes, commercial vehicles are becoming more prevalent due to economic development, shifts in consumer attitudes, and the fluctuating dynamics of worldwide trade and transportation. Truck platooning systems enhance the efficiency, safety, and cost-effectiveness of commercial vehicles, making them a viable choice for fleet managers seeking to increase productivity. As an illustration, the European Automobile Manufacturers Association, based in Belgium, reported in January 2024 that European Union bus registrations had risen by 19.4% year-on-year to 32,593 units in 2023, and new truck registrations had increased by 16.3% to 346,986 units year-on-year from 2022. As a result, the surge in commercial vehicles is propelling the growth of the truck platooning systems market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15288&type=smp
What Are the Key Trends Driving Truck Platooning Systems Market Growth?
Major industry players in the truck platooning systems market are concentrating their efforts on innovating advanced solutions such as the connected truck platform. This platform facilitates effective communication and synchronization among trucks in a convoy. The connected truck platform integrates various operational aspects including telematics, software applications, real-time vehicle data, and third-party applications to create a cohesive, adaptable platform for fleet management. For instance, DAF Trucks, a Nederland-based truck manufacturing company, unveiled the PACCAR Connect fleet management platform in April 2024. This distinctive system comprises integrated hardware and software within the truck, an optional detachable tablet in the cab, and a versatile online portal that's compatible with virtually every mobile or fixed device. This groundbreaking solution provides instantaneous insights into individual vehicle performance, fleet performance, logistical procedures and driver performance, enabling operators to maximize their profits. Through the 'Report Scheduler' feature, where customizable route and fuel reports are presented, users have the ability to monitor the truck and fleet performance round the clock via online or email reports. PACCAR Connect also leverages geofencing technology to inform the main office when a truck is near a delivery location or is back in action after undergoing repairs, thereby maximizing efficiency.
How Is the Truck Platooning Systems Market Segmented?
The truck platooning systemsmarket covered in this report is segmented -
1) By Component: Forward-Looking Camera, System Display With Rear Time Camera, Driver-Centric Design
2) By Vehicle: Light Commercial, Heavy Commercial
3) By Technology: Acceleration And Braking Controller, Global Positioning System, Cellular And Wi-Fi Communication, DSRS Vehicle-To-Vehicle Communication
Subsegments:
1) By Forward-looking Camera: Stereoscopic Cameras, Monocular Cameras, 360-degree Cameras
2) By System Display With Rear-Time Camera: Real-Time Video Feed Display Systems, Multi-View Display Systems, Rearview And Side-view Camera Systems
3) By Driver-centric Design: Driver Assistance Systems, Ergonomic Control Interfaces, Driver Monitoring And Safety Systems
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=15288&type=smp
Which Companies Are Leading the Charge in Truck Platooning Systems Market Innovation?
Major companies operating in the truck platooning systems market report are Daimler Trucks; ZF Friedrichshafen AG; AB Volvo; Continental AG; Magna International Inc.; Uber Technologies Inc.; PACCAR Inc.; Cummins Inc.; Eaton Corporation plc; Scania AB; Iveco; MAN Truck & Bus; Navistar International Corporation; Knorr-Bremse AG; Bosch Rexroth AG; Meritor Inc.; WABCO Holdings Inc.; Allison Transmission Holdings Inc.; DAF Trucks NV; Bendix Commercial Vehicle Systems LLC; Waymo LLC; Embark Trucks Inc.; Einride AB; TuSimple Holdings Inc.
Which Regions Are Leading the Global Truck Platooning Systems Market in Revenue?
North America was the largest region in the truck platooning systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the truck platooning systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15288
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Soaring Demand Set to Propel Truck Platooning Systems Market to $2.42 Billion by 2029 here
News-ID: 4241952 • Views: …
More Releases from The Business Research Company
Growth Patterns, Segment Analysis, and Competitive Approaches Influencing the Ac …
The acrylonitrile market is set for significant expansion in the coming years, driven by evolving industrial demands and environmental considerations. As industries seek efficient materials for diverse applications, acrylonitrile's role is becoming increasingly prominent, reflecting broader trends in sustainability and performance enhancement.
Projected Growth and Market Size of the Acrylonitrile Industry
Forecasts indicate that the acrylonitrile market will reach a value of $20.72 billion by 2030, expanding at a compound…
Emerging Sub-Segments Transforming the Ship and Boat Building and Repairing Mark …
The ship and boat building and repairing industry is on the cusp of significant expansion, driven by evolving technologies and increasing demand for sustainable maritime solutions. As global trade and defense priorities shift, this market is expected to witness considerable growth, presenting numerous opportunities for innovation and development across various segments.
Projected Market Size and Growth Trajectory for Ship and Boat Building and Repairing
The market for ship and boat…
Market Segmentation, Major Trends, and Competitive Overview of the Next-Generati …
The next-generation in-vehicle networking (IVN) market is set to experience substantial growth as automotive technology continues to advance rapidly. With the increasing integration of autonomous features and connected car systems, this sector is attracting significant attention from industry players and consumers alike. Let's explore the forecasted market size, the main companies involved, emerging trends, and the various segments shaping the future of IVN technology.
Projected Market Size and Growth Outlook for…
Leading Companies Reinforce Their Standing in the Acetone Market
The acetone industry is steadily advancing, driven by a variety of factors that are shaping its growth and future outlook. As demand rises across multiple sectors, the market is set to expand significantly, reflecting the evolving needs of industries relying on this versatile chemical. Below, we explore the market size projections, key players, emerging trends, and segmentation that define the acetone market landscape today.
Projected Expansion and Market Size of the…
More Releases for Truck
Food Truck Market Size, Share Projections 2032 by Key Manufacturer- Prestige Cus …
USA, New Jersey: According to Verified Market Research analysis, the global Food Truck Market size was valued at USD 4.52 Billion in 2024 and is projected to reach USD 7.15 Billion by 2031, growing at a CAGR of 5.90% from 2024 to 2031.
How AI and Machine Learning Are Redefining the Future of Food Truck Market?
The integration of AI and machine learning is rapidly transforming the Food Truck Market by enabling…
Hydrogen Fuel Cell Truck Market By Truck Type (Light Duty Truck, Medium Duty Tru …
Hydrogen Fuel Cell Truck Market Size
By truck type, the heavy duty truck segment was the highest revenue contributor to the market, and is estimated to reach $1,763.4 million by 2032, with a CAGR of 32.9%.
Get Free Sample: https://reports.valuates.com/request/sample/ALLI-Auto-0H932/Hydrogen_Fuel_Cell_Truck_Market_By_Truck_Type_Light_Duty_Truck_Medium_Duty_Truck_Heavy_Duty_Truck_By_Range_Below_400_Km_Above_400_km_By_Power_Output_Below_150_KW_151_250_KW_Above_250_KW_Global_Opportunity_Analysis_and_Industry_Forecast_2023_2032
Hydrogen Fuel Cell Truck Market By Truck Type (Light Duty Truck, Medium Duty Truck, Heavy Duty Truck), By Range (Below 400 Km, Above 400 km), By Power Output (Below 150 KW, 151 -…
Freight Trucking Market : Dry van & box truck, Refrigerated truck, Tanker truck …
The global freight trucking market was valued at $2,732 billion in 2021, and is projected to reach $4,457.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Asia-Pacific is expected to dominate the global freight trucking market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry in emerging economies in the region. High government support for development of logistics…
Freight Trucking Market : Dry van & box truck, Refrigerated truck, Tanker truck …
According to a new report published by Allied Market Research, titled, "Freight Trucking Market," The freight trucking market was valued at $2,732.00 billion in 2021, and is estimated to reach $4,457.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Asia-Pacific is expected to dominate the global freight trucking market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry…
Commercial Truck Leasing Market Report- Applications, Type, Deployment, Organiza …
The Commercial Truck Leasing Market research report presents an intensive and coordinated exploration of the current circumstance, market key elements, Commercial Truck Leasing Market methodologies, and central participants' development in the business. The investigation helps controllers and corporate leaders in developing cost-effective decisions. Commercial Truck Leasing Market provides an evenhanded and extensive assessment of existing examples, factors, obstacles, limits, headway, possibilities/quick development areas that will help partners create business plans…
Semi-Autonomous Truck Truck Market to Witness Robust Expansion by 2025
LP INFORMATION recently released a research report on the Semi-Autonomous Truck Truck market analysis, which studies the Semi-Autonomous Truck Truck's industry coverage, current market competitive status, and market outlook and forecast by 2025.
Global "Semi-Autonomous Truck Truck Market 2020-2025" Research Report categorizes the global Semi-Autonomous Truck Truck market by key players, product type, applications and regions,etc. The report also covers the latest industry data, key players…
