- In Japan, the government plans to develop an intelligent transport system by 2020 and reduce the number of deaths due to road accidents.
- The Global Autonomous Truck Market is estimated to be 15.2 thousand units in 2025 and is projected to grow at a CAGR of 39.96%.
- The European region is estimated to dominate the semi-autonomous truck market.
Continuous innovations and developments in autonomous vehicle technology by the automotive truck manufacturers are driving the growth of the semi-autonomous and autonomous truck industry. Emerging countries in Asia are playing a crucial role in triggering the growth of semi-autonomous and autonomous vehicle technology. Favorable government policies, which encourage the production of trucks for domestic use and export, are contributing to the growth of the semi-autonomous and autonomous truck market in Asian countries such as Japan, China, and South Korea.
In Japan, the government plans to develop an intelligent transport system by 2020 and reduce the number of deaths due to road accidents with the help of autonomous and semi-autonomous vehicles. Most of the major OEMs are located in this region along with Tier 1 and Tier 2 suppliers who have also established themselves in this region.
The Global Autonomous Truck Market is estimated to be 15.2 thousand units in 2025 and is projected to grow at a CAGR of 39.96%, to reach 81.8 thousand units by 2030. The global the semi-autonomous truck market is estimated to be 260.1 thousand units in 2018 and is projected to grow at a CAGR of 23.38%, to reach 1,132.3 thousand units by 2025.
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The growth of this market is fueled by technological advancements in the field of connected vehicle and driver assistance features used in the vehicles. Connected vehicles are the stepping stones for autonomous vehicles and trucks as they can communicate with other vehicles and their surroundings.
The level 2 and level 3 automation is expected to grow at a higher CAGR than level 1 automation. The growth of level 2 and level 3 automation can be attributed to the increasing demand for highly secure and safe transportation and government norms in the emerging economies. Level 2 and level 3 semi-autonomous trucks have highly advanced driver assistance features that will help to increase road safety and truck security. The demand is expected to increase in developed as well as developing countries such as the US, Germany, China, and Japan, where key truck manufacturers are located.
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)
Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC) is 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 the AEB system and Lane Departure Warning in commercial vehicles in Europe, South Korea, and the US is 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.
The European region is estimated to dominate the semi-autonomous truck market, in terms of volume, in 2018. The region comprises technologically advanced countries such as Germany, France, and others. Also, European truck manufacturers such as Daimler (Germany), Volkswagen (Germany), and Volvo (Sweden) are focusing on research and development activities to develop autonomous vehicles.
North America is expected to dominate the autonomous truck market (volume) followed by Europe and the Asia Pacific. The region’s key technology innovators such as Waymo (US), Uber (US), and Embark (US) are investing in R&D to test autonomous vehicle technology.