Semi-autonomous Truck Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3740
Semi-Autonomous Truck Market size 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. Government authorities are taking initiatives to reduce the number of fatalities on highways. The cost benefits of semi-autonomous trucks associated with fuel consumption is another factor fueling semi-autonomous truck market growth. The adoption of electric & hybrid vehicles is also playing a key role in market growth.
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. The growing concerns over data privacy and security of data transmitted over the wireless network can restrict the semi-autonomous truck market growth. The lack of information technology infrastructure in developing countries can affect the adoption of semi-autonomous trucks.
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. For instance, according to the International Organization of Motor Vehicle Manufacturers, the number of heavy trucks produced in Europe was 296,690 in 2018. Government policies to improve the safety on highways are also supporting the market growth in the region. For instance, in November 2018, the UK government rolled out 50 new measures to improve road safety. These new measurements helped in enhancing road-safety across the UK.
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. For instance, in January 2019, FUSO, a leading truck manufacturer in Japan, tested semi-autonomous trucks with platooning technology for more truck efficiency in Japan. This test helped the company in accelerating the adoption of semi-autonomous trucks in the country.
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. For instance, in June 2019, Volvo, a leading automotive manufacturer, partnered with NVIDIA to develop an enhanced 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 semi-autonomous truck market are Continental, Aptiv, NXP, Daimler, Volvo, Waymo, TomTom, Didi Chuxing, Siemens, Tusimple, Tesla, DENSO, ZF, NVIDIA, Qualcomm, Paccar, Intel, Kamaz, Scania, and Valeo.
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
- Australia & New Zealand (ANZ)
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Continental AG
- Aptiv PLC
- NXP Semiconductors N.V.
- Daimler AG
- AB Volvo
- TomTom N.V.
- Didi Chuxing Technology Co.
- Siemens AG
- TuSimple, Inc.
- Tesla, Inc.
- DENSO Corporation
- ZF Friedrichshafen AG
- Nvidia Corporation
- Qualcomm Incorporated
- PACCAR Inc
- Intel Corporation
- JSC KAMAZ
- Scania AB
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