Semi & Fully Autonomous Truck Market to Witness Double-Digit Growth Rate until 2024
Ease of driving and increasing concerns pertaining to
security and safety to drive global semi & fully autonomous truck market
through 2024
According
to TechSci Research report, “Global
Semi & Fully Autonomous Truck Market By ADAS Feature, By Automation
Level, By Component, By Fuel Type, By Application, By Company and By Geography,
Forecast & Opportunities, 2024”, the global semi and fully autonomous truck market is
expected to grow at a double digit CAGR during the forecast on account of increasing
demand for safe, secure and efficient transport. Self-driving or autonomous
trucks use components such as camera and LIDAR, among others along with complex
algorithms that allows trucks to sense the surrounding environment and navigate
easily without human intervention. Unlike fully autonomous trucks,
semi-autonomous trucks require human intervention to some extent.
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Global semi & fully autonomous truck market can be segmented based
on ADAS feature, automation level, component, fuel type, application and region.
On the basis of ADAS feature, market can be segmented into adaptive cruise
control (ACC), automatic emergency braking (AEB), blind spot detection (BSD),
intelligent park assist (IPA) and lane assist (LA). Automatic emergency braking
segment is anticipated to hold significant share in the coming years due to
mandate of having AEB in vehicles after 2022 in the United States, which is
positively influencing the growth of the segment in the market.
The major players operating in the semi and fully autonomous truck market include Robert Bosch GmbH, Continental AG, Denso
Corporation, Aptiv PLC, ZF Friedrichshafen AG, NXP Semiconductors N.V., Nvidia
Corporation, Daimler AG, Qualcomm Incorporated, AB Volvo, among others. The companies
operating in the market are using organic strategies such as product launches,
and mergers and collaborations in order to register positive growth in the
market.
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“Global semi & fully autonomous truck market is anticipated to grow
at a double-digit CAGR during the forecast period on account of increasing
demand for road safety and shortage of truck drivers. Furthermore, autonomous
trucks use embedded systems, radars, cameras, among others to identify obstacle.
Moreover, development of advanced software technologies with automated handling
system would further steer growth in the market during forecast period.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Semi & Fully Autonomous Truck Market, By
ADAS Feature, By Automation Level, By Component, By Fuel Type, By Application, By
Company and By Geography, Forecast & Opportunities, 2024” has evaluated the future growth potential of global semi and fully autonomous truck market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decision. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in the
global semi & fully autonomous truck market.
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