Truck platooning is discern as the future of the transportation industry. In a truck platoon, multiple trucks travel at an aerodynamically efficient distance and drive cooperatively by maintaining the distance. A truck platoon is similar to a train’s compartment like arrangement but with physical disconnects. If truck platoons are permitted to operate exclusively on truck-only highways, it is likely to lead to an integrated business model between the infrastructure service provider and transportation service provider. It may also result in several public-private partnerships for financing the concept of truck platooning. The market for truck platooning system is anticipated to pave opportunities for several new businesses including road construction business, transportation, logistics service providers, and information, commutation & technology (ICT) providers because of the potential business opportunity arising from connected technology offerings and the need for wireless communication technologies. Furthermore, several taxi platoons or several cars traversing the same route can enter the platoon mode for a more relaxed driving experience and, thus, leverage the benefits that stem from platooning. The advent of new businesses is expected to steer this market’s growth over the forecast period. With Europe holding a clear vision for truck platooning by 2025, this market is anticipated to have a positive outlook in the coming years. Furthermore, the Infrastructure and Environment Ministry of Europe affirmed plans to harmonize rules to facilitate large-scale, cross-border transportation through truck platooning. Additionally, several states in the US such as Texas, Florida, and California are processing applicable legislation and are also getting ready for pilot testing, which will propel the growth for truck platooning system market during the forecast period.
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The global truck platooning system market can be segmented based on component, technology, vehicle, and region. In terms of component, the truck platooning system market can be divided into forward looking camera, system display with rear time camera, driver-centric design, and RADAR base collision mitigation. Rise in adoption of advanced driver-assistance systems in truck platooning has led to an upsurge in the demand for RADAR base collision mitigation segment. These system not only aid the vehicle in collision detection, warning, avoidance, and mitigation but also in lane change assistance, pedestrian protection systems, and blind spot monitoring. These features are expected to boost the demand for RADAR base collision mitigation segment during the forecast year. Forward looking camera and driver centric design segment are also estimated to be in high demand in the next few years. Based on technology, the truck platooning system market can be classified into acceleration & braking controller, GPS, cellular & Wi-Fi communication, and DSRS vehicle to vehicle communication. The DSRS vehicle to vehicle communication segment is expected to play a key role in the global truck platooning system market during the forecast period. Automobile manufacturers and technical vendors are investing in vehicle to vehicle communication in order to gain competitive advantage in the truck platooning system market. Base on vehicle the truck platooning system market can be classified into light commercial vehicle, and heavy commercial vehicle.
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Based on geography, the global truck platooning system market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The European market is a mature automotive market and holds high potential for the truck platooning system market. The region is well placed in terms of smart mobility and developed ICT infrastructure and with the implementation of favorable regulatory mandates, this market is expected to witness projected growth in the region over the forecast period.
Key players operating in the global truck platooning system market are Daimler AG, Scania AB, AB Volvo, Peloton Technology, DAF, OTTO MOTORS, Bendix Commercial Vehicles Systems LLC, Meritor WABCO, and Continental AG.