Semi-Autonomous Truck Market size is expected to gain remarkable traction from 2023 to 2032, due to the ability of semi-autonomous vehicles to meet the need for mobility-on-demand, while being safer and easier to regulate as compared to fully autonomous fleets. The escalating cases of road accidents and the subsequent increase in focus on the development of smart systems, such as ADAS with warning and driver awareness support in trucks will also proliferate industry growth by 2032.
Rapid implementation of stringent regulations to reduce greenhouse gas emission levels is one of the prominent trends fostering the global semi-autonomous truck industry dynamics by 2032. In August 2022, the U.S. Government, for instance, inked the Inflation Reduction Law to issue additional regulations, including the ‘Clean Heavy-Duty Vehicle’ program, to improve air quality and address the climate crisis. Factors such as these, alongside the strong focus on acceleration of the 5G network to boost connectivity, will also contribute to the rising popularity of semi-autonomous driving systems over the estimated timeline.
The recent war between Russia and Ukraine significantly disrupted the supply chain of semiconductors and chips, which, in turn, hampered some auto-assembly plants in the affected regions. In addition, the conflict also halted several R&D programs in the second quarter of 2022, restricting product utilization. Nonetheless, consistent efforts by developed nations to build alternative supply channels have uplifted this issue and increased demand for vehicle automation has fueled semi-autonomous truck market expansion.
On the basis of type, the industry is segregated into light-duty truck, medium-duty truck, and heavy-duty truck. The heavy-duty truck segment is projected to showcase remarkable growth over the analysis timeline as a result of soaring globalization and industrialization. Business owners are shifting towards automated trucks to save costs and increase the safety and efficiency of trucks.
The electric propulsion segment is slated to account for a major share of the semi-autonomous truck market revenue by 2032. This is considering the capability of electric vehicles to enable the stealth mode feature as it can reduce thermal and noise signature, thus fueling semi-autonomous and autonomous operations in trucks and other vehicles. Moreover, the growing emphasis on the electrification of heavy-duty trucks in the U.S. will also drive sector growth by 2032.
With regards to sensor, the ultrasonic segment is set to amass considerable profits over the forecast spell, owing to its ability to sense and communicate hazard warnings on roads, among other usage advantages.
The North America semi-autonomous truck market is poised to depict a strong growth rate through 2032 owing to the significant increase in road fatalities, even during the coronavirus pandemic. According to commercial truck accident statistics, nearly 105,000 trucking accidents occur in the U.S. each year, which is amplifying the need for smart, safety features in semi-autonomous pickup trucks. In addition, the mounting delivery of items like electronics via trucks across the country will also influence logistics companies to embrace semi-autonomous technology to reduce transportation costs and leverage other operational benefits.
Prominent semi-autonomous truck market participants include Valeo, Scania (Volkswagen Group, Traton), Intel, JSC Kamaz, PACCAR, NVIDIA, Qualcomm, ZF (Zeppelin-Stiftung), Tesla, DENSO, TuSimple, Didi Chuxing, Siemens, TomTom, Volvo, Waymo (Alphabet Inc.), Daimler, Aptiv, NXP, and Continental, among others. These firms are implementing strategies like new product launches, acquisitions, and mergers to strengthen their presence and expand their business in the global market.
To cite an instance, in January 2022, NVIDIA, an American technology firm, partnered with TuSimple to boost the production of self-driving tech with NVIDIA’s Drive Orin. With this collaboration, both companies aim to elevate their market position in the U.S. market.
The semi-autonomous truck market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
Market, By Level of Automation
Market, By Propulsion
Market, By Sensor Type
Market, By Truck Type
The above information has been provided for the following regions and countries: