Autonomous Trucks Market Overview:
Autonomous Trucks Market Analysis Research 2018 provides comprehensive information on Global Autonomous Trucks Market Size, Share, Growth, Trends and Region with forecast to 2023. Report analyzes Autonomous Trucks Industry for North America, Europe, APAC and Rest of the World.
Autonomous Trucks Key Players Analyzed In Report:
BMW AG (Germany), AB Volvo (Sweden), Ford Motor Co. (U.S.), General Motor Company (U.S.), Robert Bosch GmbH (Germany), Delphi Automotive PLC (Ireland), Google Inc (U.S.), Uber Technologies Inc. (U.S.), Tesla Inc. (U.S.), Volkswagen AG (Germany), and Embark Trucks (U.S.).
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Growing Demand for Autonomous Trucks:
Autonomous trucks market has seen remarkable growth in the global market and it has been observed that it is expected to expand with the CAGR of ~15.6%. Autonomous trucks are majorly driven due to the shortage of trucks drivers and increased supply of goods and materials to various end sources. According to American Truck Association, there had been a shortage of 36,500 drivers in the year 2016, which has increased to 50,000 by the end of 2017. In the year 2017, around 71% of the freight tonnage had been transported through trucks in America.
Growing volumes of shipment at rapid pace is estimated to drive the sales of autonomous trucks and encourage the manufacturers or new entrants for investing. Rising driver labor cost, especially in emerging markets will create opportunity for the autonomous trucks, which is based on techniques with minimum human input to eliminate errors and damages. Moreover shift of production footprint to the developing countries and rising economic growth would result in an increase in the sales of autonomous trucks. Hence, there will be opportunities for new entrants in the market.
The great demand of logistic services in China and Singapore and the government backing for the advanced technology and fewer regulatory hurdles will boost the growth of the Asia Pacific autonomous trucks market.
Restraints in Autonomous Trucks:
However, increased requirement of fuel efficiency and strict regulation regarding the bad fuel emission will be the greatest challenge for the industry manufacturers. Autonomous trucks are based on advanced software systems and satellite-based servers. This raises the chances of hacking the system, which can result in massive damage to the systems. Furthermore, this would restrain the new entrants.
The scope of the study segments the global autonomous trucks market by components, sensor type, technology and regions.
By Sensor Type:
Fully Automated Trucks
Geographically, the global autonomous trucks market has been segmented into four major regions such as North America, Europe, Asia Pacific, and Rest of the World. Amongst all regions, North America is expected to dominate the growth of the market during the forecast period followed by Europe. The high rate of technology adoption, increased volume of foreign tonnage, and the existence of major autonomous trucks manufacturers, such as Uber Technologies and Embark trucks is expected to drive the growth of the region over the forecast period. Availability of modern infrastructure facilities and the boom in demand for automobiles are further driving the market.
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