Europe is expected to dominate the semi-autonomous truck market over the forecast period due to the presence of major automotive manufacturers in the region. Major European truck manufacturers, such as Daimler, Volvo, and Volkswagen, are emphasizing on the research and development of autonomous vehicles. The huge adoption of heavy trucks in the region is another factor fueling market growth.
Semi-Autonomous Truck Market is expected to show significant growth over the forecast period due to the increase in awareness regarding on-road safety, and demand for optimizing fleet operations for transportation and logistics companies. Advancements in the automotive sector, such as ADAS and self-driving vehicles, are also contributing significantly to market growth. The increase in the number of truck accidents on highways is enabling transportation and logistics companies to migrate toward semi-autonomous trucks. The adoption of electric & hybrid vehicles is also playing a key role in market growth.
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APAC semi-autonomous truck market is expected to show rapid growth over the forecast period due to an increase in the number of road accidents on highways in developing countries including India and China. For instance, according to the report of the government of India’s Ministry of Road Transport & Highways report, 464,910 road accidents were reported in 2017 that claimed 147,913 lives. The national highway accounted for 30.4% of total road accidents in the country and 36% of the total deaths in 2017. Major automotive manufacturers are testing their semi-autonomous trucks for platooning use case to help fleet companies to improve efficiency.
Market Segmentation: –
Semi-autonomous Truck Market, By Level of Automation, 2014-2025 (USD Million)
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
Semi-autonomous Truck Market, By Propulsion 2014-2025 (USD Million)
Semi-autonomous Truck Market, By Sensor Type 2014-2025 (USD Million)
Semi-autonomous Truck Market, By Truck Type 2014-2025 (USD Million)
- Light Duty Truck
- Medium Duty Truck
- Heavy Duty Truck
The above information has been provided for the following regions and countries:
- North America
- Latin America
Semi-autonomous trucks help in reducing the costs associated with truck idle time for logistics companies. It also reduces fuel consumption and helps in reducing hazardous carbon pollutants. Semi-autonomous trucks are programmed to choose the most optimal route, reducing traffic congestions, especially on highways. It also reduces the time required for logistics trucks to deliver goods. This helps in reducing the cost associated with the late delivery of goods. The sensor technology used in these trucks can scan surrounding environments better than humans. These sensors can detect small obstacles for the effective movement of vehicles. Human errors related to vehicle driving, such as over speeding and sudden braking, can be reduced in semi-autonomous vehicles as they are programmed in such a way. This also helps in maintaining the vehicles in good condition.
Semi-autonomous trucks can be used for applications, such as platooning, helping logistics companies to manage their fleet more efficiently. The shortage of skilled truck drivers for heavy trucks can be resolved using semi-autonomous trucks. The assistance for drivers while driving trucks can also improve the driving performance and the overall efficiency of the fleet. trucks.
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The major companies operating in the semi-autonomous truck market are partnering with other advanced technology companies to improve the decision-making system for autonomous vehicles.The company utilized NVIDIA’s AI platform for training, simulation, and in-vehicle computing to improve the safety on roads. Other major players operating in the global market are Continental, Aptiv, NXP, Daimler, Volvo, Waymo, TomTom, Didi Chuxing, Siemens, Tusimple, Tesla, DENSO, ZF, NVIDIA, Qualcomm, Paccar, Intel, Kamaz, Scania, and Valeo.
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