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Autonomous Truck Market By Level of Automation, Application, ADAS Features, Sensor, and Region

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Autonomous Truck Market By Level of Automation, Application, ADAS Features, Sensor, and Region

December 01
03:24 2021
Autonomous Truck Market By Level of Automation, Application, ADAS Features, Sensor, and Region
Autonomous Truck Market
Factors such as a rise in road accidents, shortage of drivers, government regulations regarding safety features, companies eyeing a reduction in delivery & transportation cost, and the increasing need for efficient yet feature-rich modern trucks are expected to drive the market for semi-autonomous and autonomous trucks.

The global Autonomous Truck Market size is projected to reach $1,550 million by 2030, from $460 million in 2024, at a CAGR of 22.4%. The forecast period is from 2024 to 2030. The autonomous truck segment is the future of the trucking and transportation industry. Especially after the global pandemic of COVID-19, many e-commerce and shipping companies will be looking to develop autonomous truck deliveries to avoid human contact.

The global Semi-Autonomous Truck Market size is projected to reach 3,254 thousand units by 2025, from an estimated 948 thousand units in 2020, at a CAGR of 28.0%. The semi-autonomous truck segment has witnessed rapid evolution with governments across the world regulating advanced safety features such as AEB and BSD, and OEMs offering trucks with modern driver-assist features.

Rise in road accidents, government regulations regarding safety features, companies eyeing a reduction in delivery & transportation cost, and the increasing need for efficient yet feature-rich modern trucks have compelled automotive OEMs to develop semi-autonomous and autonomous trucks. In this pursuit, automotive OEMs and technology providers are exploring ways to develop advanced autonomous driving technologies for trucks. Thus, major R&D activities in self-driving trucks are focused on software and sensors.

Top Players

  • AB Volvo (Sweden)
  • Robert Bosch (Germany)
  • Continental AG (Germany)
  • Denso (Japan)
  • Aptiv (UK)
  • Daimler (Germany)
  • Paccar (US)
  • Nvidia (US)

Top Start-ups

  • Embark (US)
  • Waymo (US)
  • TuSimple (US)
  • Tesla (US)

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Semi-Autonomous & Autonomous Truck Market and Key Application:

Level 4 Autonomous Truck – Level 4 trucks are highly automated trucks in which the system controls the steering, acceleration, and braking. The driving environment and dynamic driving tasks are also monitored and performed by the system. A vehicle with level 4 capability can do all the driving, but only in certain circumstances. The autonomous driving system notifies the driver when he can switch to the autonomous driving mode.

Last-Mile Delivery Truck – Last-mile delivery trucks are used for logistics purposes in the distribution center or facility to the end-user. These trucks are witnessing high demand due to the rise of the e-commerce sector. The aim is to be able to deliver goods at the consumer end at a specific time without delays and to reduce the delivery cost to the company. Using autonomous last-mile delivery trucks can help companies save 40% of the total cost.

Truck Platooning – In truck platooning, two or more trucks are connected in a group with the help of connectivity technologies, autonomous driving, and artificial intelligence support systems such as adaptive cruise control and lane assist. These vehicles automatically keep a set close distance between each other. The truck at the head of the platoon acts as a leader, with the vehicles behind adapting and reacting to changes in its movement, requiring little or no action from the driver.

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The Asia Pacific is expected to be the fastest-growing market during the forecast period

The Asia Pacific is expected to be the fastest-growing semi-autonomous as well as in the autonomous truck market during the forecast period, owing to China and Japan’s rapid progress toward vehicle automation, especially mining and delivery trucks; and increasing safety regulations by various countries. For instance, South Korea’s Transport Ministry has made Autonomous Emergency Braking and Lane Departure Warning systems mandatory in passenger cars from January 2019 and in trucks and other vehicles from July 2021. Currently, both these systems are mandatory in more than 11-meter commercial vehicles and trucks and special vehicles weighing more than 20 tons.

The Asia Pacific is expected to be a technology follower. Once a robust technology is created, the region will speedily adopt the technology. Also, Asia is the largest manufacturer of trucks and contributes more than 65% of the total number of trucks manufactured globally. Road safety concerns will further propel the growth of the autonomous truck market in the region. Also, the introduction of autonomous technologies in mining trucks would drive the Asia Pacific autonomous truck market, as China is the biggest mining country in the world.

North America is expected to lead the global market during the forecast period

North America is the technology leader in autonomous technology. The region is home to some of the leading technology developers, such as Waymo, Uber, Intel, and Embark. These companies are focusing on the development of autonomous technology. Also, in the US, the testing of autonomous vehicles has started in some states. This will create an opportunity for further development of autonomous trucks. For instance, Daimler tested its level 4 autonomous truck on the streets of Virginia, US. Also, the region is dominated by pickup trucks having advanced semi-autonomous driving features. Ford and GMC are some of the leading players offering pickup trucks in the country. Tesla will enter the market soon with its ‘Cybertruck’ having all the semi-autonomous features and an optional autonomous driving feature as well.

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