Autonomous Trucks Market: 2019 Size, Trends, Share, And Key Country Forecast To 2023 Research Report

Autonomous Trucks Market Research Report – Forecast to 2023. Global 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.

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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.

Autonomous trucks market has seen remarkable growth in the global market and it has been observed that it is expected to expand with the CAGR of ~15.6%. Autonomous trucks are majorly driven due to the shortage of trucks drivers and increased supply of goods and materials to various end sources. According to American Truck Association, there had been a shortage of 36,500 drivers in the year 2016, which has increased to 50,000 by the end of 2017. In the year 2017, around 71% of the freight tonnage had been transported through trucks in America. Growing volumes of shipment at rapid pace is estimated to drive the sales of autonomous trucks and encourage the manufacturers or new entrants for investing. Rising driver labor cost, especially in emerging markets will create opportunity for the autonomous trucks, which is based on techniques with minimum human input to eliminate errors and damages. Moreover shift of production footprint to the developing countries and rising economic growth would result in an increase in the sales of autonomous trucks. Hence, there will be opportunities for new entrants in the market. However, increased requirement of fuel efficiency and strict regulation regarding the bad fuel emission will be the greatest challenge for the industry manufacturers. Autonomous trucks are based on advanced software systems and satellite-based servers. This raises the chances of hacking the system, which can result in massive damage to the systems. Furthermore, this would restrain the new entrants.

 

The global autonomous trucks market is segmented by Components (Hardware and Software), by Sensor Type (LiDAR, Image, Radar, Ultrasonic and Others), by Technology (Semi-Automated Trucks and Fully Automated Trucks) and by Region.

The prominent players in the autonomous trucks market include BMW AG (Germany), AB Volvo (Sweden), Ford Motor Co. (U.S.), General Motor Company (U.S.), Robert Bosch GmbH (Germany), Delphi Automotive PLC (Ireland), Google Inc (U.S.), Uber Technologies Inc. (U.S.), Tesla Inc. (U.S.), Volkswagen AG (Germany), Embark Trucks (U.S.).

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