List of Key Companies Profiled in
the Autonomous Truck Market Report:
- Aptiv
(Dublin, Ireland)
- Robert Bosch
GmbH (Stuttgart, Germany)
- Daimler AG
(Stuttgart, Germany)
- Caterpillar
(Illinois, US)
- Embark
Trucks (San Francisco, US)
- TuSimple,
Inc. (San Diego, US)
- NVIDIA
Corporation (Santa Clara, US)
- Continental
AG (Hanover, Germany)
- AB Volvo
(Gothenburg, Sweden)
- Tesla
(California, US)
- Waymo LLC
(Mountain View, US)
- Quantitative
& qualitative analysis on the market size & share and the factors
influencing them;
- Microscopic
assessment of the different market segments;
- Actionable
insights into the regional developments in the market; and
- Careful
examination of the key players’ profiles and strategies.
DRIVING FACTORS-
Staggering Shortage of Truck Drivers to Favor
Market Growth
With
majority of baby-boomer drivers slated to retire in the next few years,
particularly in North America and Europe, the two regions are staring at a
critical shortage of truck drivers. In the US, for example, the American
Trucking Associations reported an increase in driver deficit from 10,000 in
2017 to 60,800 in 2018. Furthermore, in the next five years, according to the
American Transportation Research Institute, trucking companies will need to
fill a dearth of 100,000 drivers to operate their vehicles. Similarly, in
Europe, data from the International Road Transport Union reveal that commercial
freight driver shortage rose from 23% in 2019 to 36% in 2020, with the heaviest
impact being borne by Poland and Romania. To overcome these shortfalls, truck
companies are expected to switch to driver-less trucks in the coming decade,
which is expected to prove beneficial for this market.
Emergence of Automated Truck Startups in
North America to Feed Market Growth
Boasting a
market size of USD 475.66 million in 2019, North America is predicted to
dominate the autonomous truck market share during the forecast period. Rapid
growth of startups specializing in self-driving vehicle technologies is the
central factor driving the market in the region. Moreover, a generally positive
attitude towards autonomous vehicles in the region will also contribute to the
growth of the regional market.
The market
in Asia Pacific is expected to grow at a high CAGR on account of increasing
stringency of road safety regulations and technologies in the region.
Additionally, favorable adoption trends of driver-less vehicles in China and
Japan will further boost the regional market prospects.
COMPETITIVE LANDSCAPE-
Strategic Alliances & Investments by Key
Players to Energize Competition
The
competitive landscape of this market features a notable number of startups,
which are strategically collaborating with diverse entities in the logistics
& transportation industry. These collaborations are aimed at expanding the
scope of autonomous trucks not only through innovative technologies, but also
by leveraging the existing infrastructure facilities.
INDUSTRY DEVELOPMENTS-
- July 2020:
TuSimple teamed up with UPS, Penske Truck Leasing, U.S. Express, and McLane to
launch the Autonomous Freight Network (AFN). As the world’s first such network,
the AFN will consist of autonomous trucks, strategically placed terminals,
digitally mapped routes, and TuSimple Connect, the company’s operations
monitoring system.
- January 2019: Daimler Trucks North America released the
first SAE level 2 self-driving truck in North America, with enhancements to the
Cascadia Freightliner. This automation level indicates that the truck is
capable of longitudinal (acceleration/deceleration) and lateral (steering)
control.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-autonomous-trucks-market-10261
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