The latest report on Autonomous Truck Market by Infinium Global Research gives complete coverage of the Autonomous Truck Market by level of autonomy (level 1, level 2, level 3, level 4), sensor type (camera, LiDAR, radar, ultrasonic), end-use (logistics, construction, mining, manufacturing) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Autonomous Truck such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Increasing Demand for Safety Is Projected to Propel the Growth of The Autonomous Truck Market
Recently, in June 2019, Starsky Robotics tested its fully unmanned autonomous truck on a public highway in Florida. Unmanned, autonomous trucks aren’t just a dream now. Many of the truck manufacturers and new tech start-ups are developing technologies to make the trucks fully automated. The major automobile manufacturers such as AB Volvo, General Motors Company and Tesla, Inc. have already 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. Daimler, a global automaker acquired an American autonomous vehicle company, Torc Robotics to incorporate the autonomous technology in their trucks.
The extensive shortage of truck drivers is the key factor driving the autonomous truck market. According to the American Trucking Association, the trucking industry had registered a shortage of nearly 50,000 drivers in 2017. Moreover, the increasing demand for safety is projected to propel the growth of the autonomous truck market. The increasing road accidents have led the governments to implement strict safety regulations for vehicles.
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Growing Demand for Cost-Effective Transportation Is Expected to Boost the Autonomous Truck Industry
Autonomous vehicles come in with features that comply with all the safety regulations by the government, which assures the safety of the passenger, goods as well as other vehicles and pedestrians. Furthermore, the growing demand for cost-effective transportation is expected to boost the autonomous truck market. Autonomous trucks save the cost of the driver along with time-efficient and fuel-efficient driving, which makes the autonomous trucks cost-effective than the man-driven trucks. However, the cybersecurity concerns related to autonomous trucks are the major restraining factor for the autonomous truck market. Additionally, the emergence of 5G and other connectivity solutions is expected to provide opportunities for autonomous truck manufacturers in the future.
In terms of region, the North America autonomous truck market 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 application 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.