Autonomous Trucks Market 2019-2023 Size, Share, Trends, And Region

Posted by Abhijeet Bendre on March 4th, 2019

Autonomous Trucks Market Research Report: Information by Components (Hardware and Software), Sensor Type (LiDAR, Image, Radar, Ultrasonic and Others), Technology (Semi-Automated Trucks and Fully Automated Trucks), and by Region - Forecast To 2023.

Market Synopsis

The autonomous truck is a commercially used vehicle that relies on different techniques that enable it to sense the surrounding and to navigate without any human input. Autonomous trucks majorly rely on satellites, guided systems and ground sensors. These systems identify obstacles and relevant signage to give proper navigation to the trucks for running without damage.

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Market Research Analysis:

In terms of region, the global market for autonomous trucks is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is anticipated to hold the major market revenue share over the forecast period followed by Europe and Asia Pacific. As per the American Trucks Association, Trucks carry 70% of the total goods shipped around the U.S. Also, there had been a shortage of 50,000 drivers in the year 2017, which is expected to increase to 175,000 by the end of 2024. This will enhance the growth of autonomous trucks because the technology is computer-controlled and not driver-controlled. Autonomous trucks are not subjected to rules and can extend their working more than human working hours. Asia Pacific market is expected to expand at a high CAGR throughout the forecast period due to low labor cost for the production plant and increased effort towards ease of operating in the countries such as China, Singapore, Japan and India. The great demand of logistic services in China and Singapore and the government backing for the advanced technology and fewer regulatory hurdles will boost the growth of the Asia Pacific autonomous trucks market.

Segmentation:

Geographically, the global autonomous trucks market has been segmented into four major regions such as North America, Europe, Asia Pacific, and Rest of the World. Amongst all regions, North America is expected to dominate the growth of the market during the forecast period followed by Europe. The high rate of technology adoption, increased volume of foreign tonnage, and the existence of major autonomous trucks manufacturers, such as Uber Technologies and Embark trucks is expected to drive the growth of the region over the forecast period.  Availability of modern infrastructure facilities and the boom in demand for automobiles are further driving the market.The report for Global Autonomous Trucks Market of Market Research Future covers extensive primary research. This is accompanied with a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a neat picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

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