A recent report published by Infinium Global Research on the autonomous truck market provides an in-depth analysis of segments and sub-segments in the global as well as regional autonomous truck market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional autonomous truck market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global autonomous truck market. According to the report, the global autonomous truck market is projected to grow at a CAGR of 11.45% over the forecast period of 2019-2025.
Recently, on 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. 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.
The report on global autonomous truck market covers segments such as level of autonomy, sensor type, and end-use. On the basis of level of autonomy, the sub-markets include level 1, level 2, level 3, and level 4. On the basis of sensor type, the sub-markets include camera, LiDAR, radar, and ultrasonic. On the basis of end-use, the sub-markets include logistics, construction, mining, manufacturing, and other end-uses.
The report provides profiles of the companies in the market such as BMW AG, Volkswagen AG, Daimler AG, Isuzu Motors Limited, AB Volvo, Ford Motor Co., General Motors Company, Tesla, Inc., Toyota Motor Corporation, Uber Technologies Inc., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of autonomous truck market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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