Global Truck Platooning Market to reach USD 91.6 million by 2025.
Global Truck Platooning Market valued approximately USD 8.3 million in 2017 is forecasted to grow with a healthy growth rate of more than 35.01% over the forecast period 2017-2025. The major factors speculated to augment the markets are road safety laws, reduction in the CO2 emission, minimizing the fuel consumption, insufficiency of skilled drivers and self-driving trucks. Self-driven trucks are an opportunity where the market growth can be exponential in the forecast period. Truck Platooning consists of several trucks furnished with state-of-the-art driving support systems – one closely following the other. This forms a platoon with the trucks driven by smart technology and communicating with each other.
Global Truck Platooning Market is segmented into Type, Systems, Sensors and Services. The Image Sensors subsegment is forecasted to grow with the highest CAGR in the sensor type segment. Whereas, Adaptive Cruise Control (ACC) is speculated to remain dominant in the systems segment.
The regional analysis of Global Truck Platooning Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Owing to fast improvements in autonomous vehicle technology and the stringent governmental laws for road safety, the North America region is speculated to be the leading region across the world in terms of market share. Whereas, owing to countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate / CAGR over the forecast period 2017-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Autonomous Truck Platooning
- Driver Assistive Truck Platooning (DATP)
- Lane Keep Assist (LKA)
- Blind Spot Warning (BSW)
- Adaptive Cruise Control (ACC)
- Global Positioning System (GPS)
- Automated Emergency Braking (AEB)
- Forward Collision Warning (FCW)
- Human Machine Interface (HMI)
o Match Making
o Financial Transaction
o On-road Assistance
o Automatic Crash Notification
o Navigation & Infotainment
o Vehicle Tracking
o Emergency Calling
o Remote Diagnostics
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Tomtom, Volvo, Scania, Daimler, Bosch, Wabco, Continental, ZF, Nvidia, Omnitracs, Intel, Peloton, Trimble, Toyota Tsusho, Otto, Man, Cargox, Hino Motors, Telefonica, Paccar, Navistar International Corp., and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Target Audience of the Truck Platooning Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers