Automated Truck - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automated Truck Market is accounted for $0.65 billion in 2019 and is expected to reach $2.22 billion by 2027 growing at a CAGR of 16.6% during the forecast period. Some of the key factors propelling the market growth include rising awareness of the effects of air pollution, increasing rates of traffic & noise exposure, shortage of trucks drivers, and increased supply of goods and materials to various end users. However, privacy and safety issues related to operating software access to data are restraining the market growth.
An automated truck also known as self-driving truck, is able to run on the roads even without any physical presence of a human being. It incorporates advanced technological system like improved quality sensors and cameras and eliminates the requirement of a driver of stirring the wheel. Moreover, it vastly relies on satellites, guided systems and ground sensors. The inbuilt system identifies any impediments and relevant obscurity to give proper navigation to the trucks to run without any obstacle.
By end user, the logistics segment of the automated truck market is anticipated to expand at a rapid pace during the forecast period, owing to the large consumer base for trucks in the logistics industry. The growing consumer digital purchasing conduct has enhanced a desire for streamlined logistics in fleet managers seeking to reduce their operating costs. The logistics sector is therefore at the forefront of the automated truck adoption curve.
On the basis of geography, the Asia Pacific region is expected to have considerable market growth during the forecast period, owing to large and highly advanced mines in the world. Furthermore, the demand for automated trucks in the logistics industry is likely to rise in countries such as Japan, Singapore, and China, due to the presence of large logistics and transport industries in these countries. The decline in the young and working population in Japan is anticipated to rapidly boost the automated truck market in the country in the near future.
Some of the key players in Automated Truck Market include Continental AG, Daimler AG, DENSO Corporation, Intel Corporation, NVIDIA, Caterpillar Inc., ZF Friedrichshafen AG, AB Volvo, Aptiv, EMBARK, Valeo, Hitachi Ltd., Qualcomm Technologies, Inc., Robert Bosch GmbH, Komatsu Corporation, and Delphi Automotive PLC.
Automation Levels Covered:
• Level 1
• Level 2
• Level 3
• Level 4
• Level 5
Truck Types Covered:
• Heavy Duty Truck
• Medium Duty Truck
• Cab Integrated Trucks
• Cabless Trucks
Vehicle Classes Covered:
• Ultra Class Trucks
• Class 8
• Class 9
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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