Global Autonomous Trucks Market is valued approximately at USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2029. Autonomous Trucks are self-driving trucks with the ability to operate without any human intervention. It includes advanced technological features such as tracking, safety and security applications, real-time computer systems, etc. The Autonomous Trucks market is expanding because of factors such as the rising demand for road safety and traffic control and the capability of autonomous trucks to alleviate the truck driver shortage
According to Save Life Foundation in 2019, SaveLIFE Foundation, in collaboration with the Transport Department, The government of Uttar Pradesh organized an expert consultation on 10th February 2021 on two crucial road safety provisions under the Motor Vehicles (Amendment) Act, 2019 providing the rulemaking power to the State Government at Transport Department Office in Lucknow and also Lok Sabha has introduced the motor Vehicle bill in 2019.
. Whereas rising demand for 5G technology for vehicle connectivity and growing demand for semi-autonomous and autonomous truck platooning create lucrative opportunities for the market. However, the threat of cyberattacks and data privacy concerns hampers the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Autonomous Trucks Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue generation, owing to the increasing technological advancement entering the autonomous driving segment, and the growing electrification of vehicles due to infrastructure development by market players. Whereas North America is expected to grow significantly during the forecast period, owing to factors such as increasing government regulation and public awareness of safety concerns
Major market players included in this report are:
Mercedes Benz Group
BYD Co. Ltd.
Recent Developments in the Market:
In 2021 - Daimler Trucks will launch a new industry standard scalable truck platform for autonomous driving in 2021, capable of producing ASE level 4 autonomous trucks with redundant systems for added safety.
In October 2020 - Daimler will collaborate with Waymo to develop fully driverless semi-trucks in October 2020. Waymo's autonomous driving technology is being integrated into Daimler's trucks as part of this strategic partnership.
Global Autonomous Trucks Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Components, Sensor, Technology, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Fully Automated Trucks
Rest of the World