“Increasing demand for a safe & efficient mode of transportation is expected to drive the growth of semi-autonomous and autonomous truck market”
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%. 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%. Increase in demand for an efficient, reliable, and safe mode of transportation would propel the growth of semi-autonomous and autonomous truck market. However, cybersecurity and data privacy concerns and the lack of information technology and communication infrastructure in developing nations can restrain the growth of the market.
“Automatic Emergency Braking and Adaptive Cruise Control: Key technologies likely to drive the global semi-autonomous truck market”
Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC) are estimated to be the largest markets in the semi-autonomous truck market. These are followed by Lane Assist and Blind Spot Detection. Government mandates regarding the compulsory use of AEB system and Lane Departure Warning in commercial vehicles in Europe, South Korea, and the US are expected to drive the market. Also, increasing demand for safe driving and autonomy in trucks has led to the growth of the ADAS features mentioned above along with others.
“Asia Pacific plays a crucial role in semi-autonomous and autonomous truck market growth”
The Asia Pacific region consists of home-grown, innovative automotive truck manufacturing companies as well as foreign players in countries such as China, Japan, and South Korea, which supports the growth of semi-autonomous and autonomous truck market. The Asia Pacific region is projected to be the second largest market for semi-autonomous truck and the third largest market for autonomous truck in 2025 and 2030, respectively. The key manufacturers in the region are Mitsubishi Fuso (Japan), Isuzu (Japan), and others.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type - OEM - 52%, Tier 1 - 35%, Tier 2 - 13%
- By Designation - C Level Executives - 40%, Directors - 35%, Others - 25%
- By Region - North America - 40%, Europe - 35%, Asia Pacific - 20%, RoW - 5%
Major players profiled in the report are:
• Continental (Germany)
• Bosch (Germany)
• Aptiv (UK)
• Denso (Japan)
• ZF (Germany)
• NVIDIA (US)
• NXP (Netherlands)
• Daimler (Germany)
• Volvo (Sweden)
• PACCAR (US)
• Intel (US)
• Qualcomm (US)
• Waymo (US)
• TomTom (Netherlands)
• Uber (US)
• Tesla (US)
• TuSimple (China)
The report segments the semi-autonomous and autonomous truck market and forecasts its size, by volume, on the basis of the level of automation (level 1 to level 5), ADAS features (lane assist, blind spot detection, adaptive cruise control, automatic emergency braking, intelligent park assist, highway pilot, and traffic jam assist), sensor type (Radar, Camera, Lidar, and Ultrasonic), propulsion type (diesel, hybrid, electric), Truck class (Class 1 – Class 8), and region (Asia Pacific, Europe, North America, and Rest of the World).
Reasons To Buy the Report:
The report provides insights into the following points:
- Market Penetration: The report provides comprehensive information about semi-autonomous and autonomous trucks offered by the top players in the market.
- Product Development/Innovation: The report offers detailed insights into upcoming technologies, R&D activities, and new system launches in the semi-autonomous and autonomous truck market.
- Market Development: The report provides comprehensive information about types of semi-autonomous and autonomous truck technology. The report analyzes the market for semi-autonomous and autonomous truck technology in multiple regions.
- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the semi-autonomous and autonomous truck market.
- Competitive Assessment: The report provides an in-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the semi-autonomous and autonomous truck market.