With automated driving technology gaining traction in the automotive sector, the global robot cars and trucks market is poised to witness significant growth over the forecast period. These robotic vehicles allow users to implement automated driving. These vehicles integrate preset programmed processes to driving, by incorporating programmed software and central processor in cars and trucks. It is generally done by altering the steering, brakes, and other automotive systems. The self-directed and fully automated functions in automobiles are now being increasingly implemented globally. These robotic vehicles are expected to gain prominence over the forecast period as they are quite reliable and mishap-free.
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The recent trends in automobiles such as automated vehicle-mapping, automatic parking, and steering have propelled growth in automotive industry. The robotically operated vehicles are programmed to control features such as lane assist, collision avoidance, adaptive cruise control, and automated parking and steering. All these features are controlled by a central processor present in robot cars and trucks. These robotically operated vehicles enable driving without human intervention and have altogether unlocked a new dimension for expansion in the automobile industry. The market is, however, in its initial stage and foresees several growth opportunities, and vendors have accentuated on capitalizing these opportunities. Major players have highly invested on research and development activities to increase their market share. Key participants aim at making safer, greener, and more efficient automated cars and trucks to attract potential customers.
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Robot cars and trucks have gained prominence in various industrial verticals. These robotic vehicles have applications in commercial, domestic, and industrial sectors. Owing to benefits such as cost-efficiency, job effectiveness, and safety, the market has gained momentum in industrial sector. Presence of several opportunities in transport segment is expected to drive robotically operated trucks’ expansion. Increased government funding for deployment of proper roadway controls is expected to stimulate industry growth.
High investments for production and initial set-up costs pose a major challenge to these automated vehicles. Furthermore, heavy investments into R&D activities are required prior to actual implementation. Macroeconomic conditions such as global recession and financial crisis have hampered the market augmentation. Minimal awareness about features and benefits of these vehicles among potential customers has decelerated industry growth.
A remarkable rise in international trade and transport in the European region is expected to fuel industry growth. Modernization of factories and accelerated production capacities in automotive industry in Canada and the U.S. has fueled growth in North American region.
Key players dominating the global robot cars and trucks industry are Ford, BMW AG, General Motors, Fuji, Google, Mercedes Benz, Nissan Motor Company Ltd., Kiros, Tesla Motors, Inc., Porsche AG, Volkswagen Group, and Toyota Motor Corporation.
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