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Truck Platooning Market Size
- Report ID: GMI5329
- Published Date: Aug 2022
- Report Format: PDF
Truck Platooning Market Size
Truck Platooning Market size exceeded USD 1.3 billion in 2021 and is projected to expand at over 29% CAGR of from 2022 to 2030. Truck platooning systems leverage a variety of next-generation technologies such as collision avoidance systems and adaptive cruise control to ensure improved safety & security.
With the growing need for enhancing driver capabilities and a rise in commercial vehicles, these systems have gained significant popularity. They enable more predictive driving of trucks on the road and improves safety for other road users. New trends in the road freight sector such as vehicle customization are allowing truck fleets to get equipped with advanced security and navigation tools.
Many original equipment manufacturers (OEMs) are scaling up investments in research and development of innovative vehicle designs. Such initiatives will generate a substantial scope for the adoption of truck platooning systems and services in the coming years.
The high cost of autonomous technologies will be a major factor restraining the industry growth. To offer superior driving experience, truck platooning solution providers are equipping fleets with live diagnostics, for real-time assistance along with all necessary software updates, and data collection process. Installation of advanced technologies such as blind spot warning (BSW), lane keep assist (LKA), forward collision warning (FCW), and adaptive cruise control (ACC) will further increase the overall costs of an autonomous truck.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Truck Platooning Market Size in 2021: | USD 1.3 billion |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 29% |
| 2030 Value Projection: | USD 13 billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 722 |
| Segments covered: | Vehicle Type, Autonomous Level, Communication Technology, Component, System |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Truck Platooning Market Scope
