The Infinium Global Research analyzes the Autonomous Truck Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global autonomous truck market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of autonomous truck. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the autonomous truck market during the period. The global autonomous truck market is projected to grow at a CAGR of 11.45% over the forecast period of 2019-2025.
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The autonomous truck market is relatively new and highly fragmented in nature. Many of the truck manufacturers and new tech start-ups are competing with each other to hold their position in the market. The major automobile manufacturers such as AB Volvo, General Motors Company and Tesla, Inc. have launched their semi-autonomous trucks in the market. The majority of the key players in the market are acquiring robotics companies for the technological development of autonomous trucks.
Extensive Shortage of Truck Drivers is the Key Factor Driving the Autonomous Truck Market
The extensive shortage of truck drivers is the key factor driving the autonomous truck market. Moreover, the increasing government initiatives for testing the autonomous trucks on the public road is projected to propel the growth of the autonomous truck market. Furthermore, the growing demand for cost-effective transportation is expected to boost the autonomous truck market. However, the cybersecurity concerns related to autonomous trucks are the major restraining factor for the autonomous trucks market. Additionally, the emergence of 5G and other connectivity solutions is expected to provide opportunities for autonomous truck manufacturers in the future.
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Autonomous Truck Market: Segmentation
The autonomous truck market for EV’s is segmented by the level of autonomy, sensor type, and end-use. The level of autonomy of autonomous trucks is categorized into Level 1, Level 2, Level 3 and Level 4. By sensor type, the autonomous truck market is categorized into camera, LiDAR, radar and ultrasonic. The radar segment dominated the sensor type owing to the well-established sensor technology and its unique applications in the ADAS including intelligent park assist, blind-spot detection, adaptive cruise control, and many more. The end-use of autonomous trucks includes logistics, construction, mining, manufacturing, and other end-uses.
Autonomous Truck Market in North America Generates the Highest Revenue
Region-wise, the autonomous truck market in North America generates the highest revenue. The autonomous truck market in this region holds a large amount of share of the global market. The domination of the North America region in the autonomous truck market attributes to the high rate of adoption of autonomous and semi-autonomous technologies. Moreover, the presence of key players in the market including Ford Motor Co., General Motors Company, Tesla, Inc. and Uber Technologies Inc. in the region is expected to boost the growth of the autonomous truck market in North America.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the autonomous truck.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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