22 March 2021
Visiongain has published a new report on Semi-autonomous & Autonomous Trucks Market Report to 2031: Forecasts by Level of Automation (Level 1, Level 2 & 3, Level 4 and Level 5), by Propulsion Type (Electric, Diesel and Hybrid), by ADAS Features (AEB, ACC, IPA, TJA, BSD, LKA and HP), Application (Last-mile Delivery Truck and Mining Truck), by Truck Class (Class 1-Class3, Class 4 – Class 6), Class 7 – Class8), by Sensor (Camera, Ultrasonic, Radar and LiDAR) and by Region PLUS Profiles of Leading Semi-autonomous & Autonomous Truck Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Semi-autonomous & Autonomous Truck market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. Factors such as government regulations regarding safety features, Companies focusing on reducing delivery and vehicle maintenance cost, shortage of drivers, rise in road accidents and efficient yet feature rich modern trucks drives the semi-autonomous and autonomous truck market.
COVID-19 Impact on Semi-autonomous & Autonomous Truck Market
Impact on economies due to Covid-19 has reduced the various businesses and industries. But in case of semi-autonomous and autonomous truck market it resulted positive. Due to this pandemic, companies will be looking for autonomous options for delivery, supply and logistic and it might benefit the autonomous truck market.
Emphasising on road safety awareness and safety features, governments are making policies towards it which mandates autonomous vehicles. The semi autonomous and autonomous truck market can fulfil the shortage of drivers in case of emergency and in day to day routines too. Therefore all of this has lead the market to develop high-end technology and safety features.
Trucks using for supply and logistic using semi-autonomous and autonomous trucks which can further improve the efficiency and productivity and reduce CO2 emission. The market for Blind Spot Detection would grow at the highest CAGR to increase road safety and decrease the number of accidents due to human errors. A rapidly increasing use of AI in autonomous driving vehicles and increasing shipments is driving the market. However, the huge investment in the market rising the opportunities for automakers in the semi-autonomous and autonomous market.
The global Semi-autonomous & Autonomous Truck market is dominated by big players such as include Continental, Bosch, Aptiv, AB Volvo, Denso, Uber, Nvidia, Ford Motor Co., Caterpillar, and Scania. These companies have secured their position in the market to offer wide range of advanced assistance systems. The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations.
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Factors such as government regulations regarding safety features, Companies focusing on reducing delivery and vehicle maintenance cost, shortage of drivers, rise in road accidents and efficient yet feature rich modern trucks drives the semi-autonomous and autonomous truck market.