Global Autonomous Truck Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 17.52% from 2019 to 2027, reaching nearly US$ XX Bn.
Global Autonomous Truck Market
The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Autonomous Truck Market: Market Overview
An autonomous truck can run on the road without physical presence of human driver. Autonomous trucks utilize advanced technological system such as ADAS system with improved quality cameras and radar, in result eliminates the physical presence of a human driver for running the truck.
Recently, Volvo Group announced the partnership with Nvidia to manufacture self-driving trucks. These companies will work on DRIVE AGX Pegasus platform to process driving data.
Global Autonomous Truck Market: Market Dynamics
The major factors which accelerate the growth of the global autonomous truck market include rising awareness about the benefits of advanced technology such as ADAS system in their vehicles across the globe. The electrification of vehicle which reduces the level of pollution and emission of CO2 gas. In addition, rising disposable income of people increases the spending power, also improve of infrastructure of developing nations are the major factors which drive the global autonomous truck market over the forecast period.
However, high cost of autonomous truck and higher maintenance cost is anticipated to hinder the growth of the market. Lack of infrastructure and information technology in developing countries hinder the market growth. In addition, disrupted supply-chain due to pandemic also hinder the growth of the market. The data privacy concerns and cyber security is also a key restrain for the global autonomous truck market in near future.
Global Autonomous Truck Market: Market Segmentation
The radar segment of component is dominating the global autonomous truck market as it is the most preferred in case of detection systems that help to measure the distance of obstacles. The ultrasonic are especially used in vehicle parking assistance systems and holds large amount of share in terms of volume. The heavy-duty truck segment of vehicle type is projected to have the highest growth rate for its extensive usage in construction, infrastructure, and mining. Moreover, the Autonomous Truck is used for long journey. The electric truck is projected to have the highest growth rate of this market as OEMs are focused on electrification of vehicles in concern with zero emission of CO2.
Global Autonomous Truck Market: Regional Analysis
North America dominated the global autonomous truck market in 2019 and is expected to continue its dominance during the forecast period. High adoption rate of new technology and automation in this region are major contributing factors. The manufacturer spends a large revenue on research and development with focus on the comfort of customers. Most of the OEMs are focusing on adoption of ADAS system and introduce the autonomous vehicle in this region. The countries such U.S and Canada are well developed and the disposable income of people in this region is high. These are the major factors booming the demand for autonomous truck market in this region.
The objective of the report is to present a comprehensive analysis of the Global Autonomous Truck Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Autonomous Truck Market dynamics, structure by analysing the market segments and projects the Global Autonomous Truck Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Autonomous Truck Market make the report investor’s guide.
Scope of the Global Autonomous Truck Market
Global Autonomous Truck Market, by Component
Global Autonomous Truck Market, by Drive type
• IC engine
Global Autonomous Truck Market, by Vehicle type
• Light duty trucks
• Heavy duty trucks
Global Autonomous Truck Market, by Region
• Asia Pacific
Rest of Asia
• North America
Rest of Europe
• South America
Rest of South America
• Middle East & Africa
Rest of MEA
Global Autonomous Truck Market, Key Players
• AB Volvo
• Uber Technologies Inc.
• Daimler AG
• Ford motor Co.
• Tesla Inc.
• BMW AG
• Google Inc.
• Robert Bosch
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
Email: [email protected]
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