Truck Platooning Market Report: Information by Component (Forward Looking Camera, System Display with Rear Time Camera, RADAR Base Collision Mitigation), Technology (Acceleration & Braking Controller, DSRS V2V Communication) – Forecast till 2023.
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Truck Platooning Market Insights:
Platooning is very useful in automotive industry with the aim to improve safety, fuel efficiency, and decrease pollution. Truck platooning caters to a number of trucks equipped with connectivity technology and automated driving support systems – one closely following another. The platoon works with the first truck acting as a leader and other vehicles behind the trucks adapting to the changes in the movement of the first trucks. The trucks maintain a set close distance between each other, which reduces the air drag and lowers fuel consumption and CO2 emissions. The vehicle manufacturers are developing new technologies such as automated driving support systems to improve the platooning technology and multi brand platooning.
The factors that are responsible for the growth of truck platooning market are stringent environment regulations, innovation in platooning technologies, and the growing sales of commercial vehicles. Platooning provides autonomous driving experience, which reduces driving efforts and the number of accidents as well as it improves operational efficiency, which increases the growth of the market. Platooning improves road transport in a more efficient, safer and cleaner way, which increases demand for the platooning in the global market. Truck platooning is expected to increase the demand in sectors such as road development, transportation, logistics, and information technology because of the rising demand for automated technologies. The European government has taken several initiates to facilitate large-scale, cross-border transportation through truck platooning. Moreover, the European automakers have been working on truck platooning with help of only front truck driver in the future. However regulatory framework in Europe and road infrastructure will hinder the growth of the market.
The global truck platooning market is segmented on the basis of component, technology, vehicle type. On the basis of components, the market is segmented into forward looking camera, system display with rear time camera, driver-centric design, and radar base collision mitigation. On the basis of technology, the market is segmented into acceleration & braking controller, GPS, cellular & Wi-Fi communication, dedicated short range communication V2V communication. On the basis of vehicle type the market is segmented into light commercial vehicle, and heavy commercial vehicle.
On the basis of region, the market is segmented into the regions of North America, Asia-Pacific, Europe, and Rest of the World. Europe is expected to dominate the market in the future due to an increase in demand for smart mobility and automated driving system in countries such as UK, Germany, and France. Also, there has been an increase in sales of commercial vehicles in Europe, which has resulted in an increase in the market size of truck platooning. The increase in demand for safety, efficiency and road transport increases the demand for truck platooning in the region.
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