Semi & Fully Autonomous Truck Market (By Features: Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Intelligent Park Assist (IPA), Lane Assist (LA); By Automation level: Level 0, Level 1, Level 2, Level 3, Level 4/5; By Component: Embedded System, Camera, Radars, LiDAR, Others; By Fuel Type: Diesel, Petrol/Gasoline, CNG, Electric & Hybrid; By Application: Logistics, Mining, Construction) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global semi & fully autonomous truck market size is expected to reach around US$ 88.1 Bn by 2027, growing at a CAGR of 10.1% during the forecast period 2020 to 2027.

Self driven vehicles is gaining attraction among consumers the AI powered vehicles are highly reliable and safe for long distance travelling. With the advanced technology the human errors related to control and safety options are controlled by the reliable intelligent machine.

Market Dynamics

With the advent of artificial intelligence in automotive industry and inclination towards autonomous vehicle system for reliability, improved safety and enhanced driving experience which is a major factor expected to drive the growth of the global semi & fully autonomous truck market. Rapid technological advancements are taking place in automotive sector with the growing logistics activities major player are focused on improved operational efficiency. Autonomous trucks tend to be a better and reliable option in order to transport the goods in larger quantity without any problems.

Gradual increase in road accidents of trucks during transportation is resulting in demand for autonomous trucks that are safer and reliable this is another factor expected to support the growth of target market. Truck accidents are increasing every year due to human and technical errors. Due to long traveling distance drives tend to lose the concentration and causing uncertainty. Autonomous trucks provide the business players several advantages such as ability to carry more freight with the same number or even fewer drivers, off-peak hours driving in order to reduce traffic, etc. These trucks play a major role during the night traveling as they don’t need breaks like human truckers and avoiding issues like drowsy driving truck accidents.

Major players focus on collaborative work with the government or other public agencies in order to test the limits of the autonomous trucks before deployment on roads this is expected to impact the market growth positively to a certain extent.

• In 2019, Plus.ai Partners with Minnesota Department of Transportation in order to test on MnDOT’s MnROAD cold-weather pavement testing facility.

In addition, product development activities through partnerships and agreements are factors expected to further boos the growth of target market. Players are collaborating for the R&D activities and are focused on introducing new autonomous vehicle software’s in the market.

• In 2018, Aisin Seiki Co., Ltd., JTEKT Corporation, and DENSO Corporation started working in collaboration in order to develop integrated control software that will be used for automated driving, vehicle motion control, and other related functions.

Furthermore, increasing merger and acquisition activities in order to increase the customer base and increase the profit ration is expected to support the growth of target market to a certain extent. In 2019, Plus.ai establishes a joint venture with Faw Jiefang in order to develop self-driving trucks for China. They jointly launched world’s first production-class l2 semi-autonomous truck.

However, factor such as high initial investment for product development and unavailability of required infrastructure in developing countries in order to deploy the autonomous trucks are factors expected to hamper the growth of global market. In addition, concern related to data security is another factor expected to limit its adoption further challenging the growth of target market.

High government spending on development of automotive infrastructure, deployment of 4G & 5G networks, coupled with innovative product offerings are factors expected to create new opportunities in terms of revenue over the forecast period.

Semi & Fully Autonomous Truck Market Segment Analysis, 2019

The global semi & fully autonomous truck market is segmented into feature, automation level, component, fuel type, and applications. The automation level segment is bifurcated into level 0, level 1, level 2, level 3, and level 4/5. Among the automation level the level 4/5 segment is expected to witness faster growth over the forecast period.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to rising demand for autonomous trucks from transportation sector. In addition, high investment by major players for innovative product offerings is expected to support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future owing to presence of major automotive manufactures operating in the countries in this region. In addition, high government spending on development of present infrastructure is expected to support the growth of target market.

Competitive Landscape

High investment by the players for new product development, emergence of mid-size enterprises, and business merger activities in order to increase the profit is expected to increase the competition.

Report coverage

The market research study on “Semi & Fully Autonomous Truck Market (Features: Sensors Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Intelligent Park Assist (IPA), and Lane Assist (LA); Automation Level: Level 0, Level 1, Level 2, Level 3, and Level 4/5; Component: Embedded System, Camera, Radars, LiDAR, and Others; Fuel Type: Diesel, Petrol/Gasoline, CNG, and Electric & Hybrid; Application: Logistics, Mining, and Construction) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global semi & fully autonomous truck market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global semi & fully autonomous truck market, its features, automation level, component, fuel type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global semi & fully autonomous truck market size and segment markets by features, automation level, component, fuel type, application, and geography along with the information on companies operating in the market. The semi & fully autonomous truck market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Robert Bosch GmbH, Continental AG, Denso Corporation, Aptiv PLC, ZF Friedrichshafen AG, NXP Semiconductors N.V., Nvidia Corporation, Daimler AG, Qualcomm Incorporated, and AB Volvo.

Market Segmentation

Market By Features

• Adaptive Cruise Control (ACC)
• Automatic Emergency Braking (AEB)
• Blind Spot Detection (BSD)
• Intelligent Park Assist (IPA)
• Lane Assist (LA)

Market By Automation level

• Level 0
• Level 1
• Level 2
• Level 3
• Level 4/5

Market By Component

• Embedded System
• Camera
• Radars
• LiDAR
• Others

Market By Fuel Type

• Diesel
• Petrol/Gasoline
• CNG
• Electric & Hybrid

Market By Application

• Logistics
• Mining
• Construction

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa