Semi-autonomous & Autonomous Truck Market Size, Share, Trends, Growth, Analysis, Research
Global Semi-autonomous & Autonomous Truck Market: Key Highlights
- According to the new market research report “Semi-autonomous & Autonomous Truck Market” by ADAS Technology (Automated Emergency Braking (AEB), Automated Highway Driving (AHD), Lane Detection (LD), Automated Parking (AP), Blind Spot Detection (BSD), Adaptive Cruise Control (ACC), and Others) by Propulsion (Diesel, Electric and Hybrid) by Sensor Type (LiDAR Sensor, Ultrasonic Sensor, Radar, Cameras and Others) by Automation Level (Level 1 — Driver Assistance, Level 2 — Partial Automation, Level 3 — Conditional Automation, Level 4 — High Automation, Level 5 — Full Automation) by Truck Type (Light Duty Truck, Medium Duty Truck, and Heavy Duty Truck) by Region (Asia Pacific, North America, Europe, Middle East & Africa, and South America) — Global Forecast from 2019 To 2027”, the global semi-autonomous & autonomous truck market is estimated to reach 1,705 (thousand) units in 2027 at a CAGR of 31.7% during forecast period 2019–2027.
- Rising awareness towards safety & security is expected to drive the semi-autonomous & autonomous truck market during the forecast period
- However, the cyber security issue is expected to restrain the market growth during the forecast period
Global Semi-autonomous & Autonomous Truck Market: Key Market Dynamics
- The growing adoption of electric & hybrid trucks has expected to drive the semi-autonomous & autonomous truck market during the forecast period
- Rising vehicle accidents worldwide is driving the demand for automotive safety & security. Hence rising awareness towards safety & security has expected to drive the semi-autonomous & autonomous truck market during the forecast period.
- Ongoing cyber threats can act as a restraint to the market growth
- Rising demand for semi-autonomous and autonomous truck platooning is expected to open up new growth avenues for the market in the near future
- Stringent regulatory policy for automated vehicles is likely to act as a challenge for market growth
Global Semi-autonomous & Autonomous Truck Market: Regional Overview
The Asia-Pacific region is projected to be the largest contributor to the semi-autonomous & autonomous truck market owing to the growing automotive sector. The growth in the automotive sector in the region is mainly owing to the increasing demand for road safety as well as electric vehicles. Among the Asia Pacific, China, Singapore, Japan are the prominent destinations for the automotive market, which is projected to drive the semi-autonomous & autonomous truck market growth.
Europe is expected to dominate the semi-autonomous and autonomous truck market over the forecast period due to the presence of major automotive manufacturers in the region. The huge adoption of heavy trucks in the region is also a major driving factor behind the growth of the market. Major European manufacturers such as Daimler AG (Germany) and AB Volvo (Sweden) are focusing on research and development activities to develop autonomous and semi-autonomous vehicles.
Global Semi-autonomous & Autonomous Truck Market: Key Players Overview
- Robert Bosch GmbH:
Robert Bosch GmbH is a German-based company that offers industrial products, auto spare parts, mobility, control & drive technology, business process outsourcing, among others. In 2019, Bosch Group invested 19 billion USD through its corporate venture arm namely Robert Bosch Venture Capital GmbH (RBVC) for the new startup company in Trunk based in Beijing, China. The trunk provides software and hardware solutions for autonomous trucking.
- Continental AG:
Continental AG is a German-based company that specialized in manufacturing automotive safety, chassis and powertrain components, interior electronics, brake systems, tires, tachographs, and other parts for the automotive and transportation industries. In 2018, Continental AG and Knorr-Bremse signed partnership agreement for development of end to end solution for highly automated driving vehicles for trucks.
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