DUBLIN--(BUSINESS WIRE)--The "Semi-Autonomous & Autonomous Truck Market By Level of Automation (Level 1, Level 2 & 3, Level 4, and Level 5), Propulsion (Diesel, Electric, and Hybrid), Application, Truck Class, ADAS Features, Sensor, and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
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%. The advent of autonomous technology will have a significant impact on commercial vehicles, including trucks.
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 the significant growth drivers of the global semi-autonomous and autonomous truck market.
The entry of autonomous trucks in the trucking industry will change the way freight transportation is done across the world. The autonomous truck technology enhances safety, efficiency, and productivity. Autonomous trucks can help decrease the number of road accidents significantly, thus increasing road safety in different scenarios or conditions. These vehicles follow the traffic rules and keep a distance from other vehicles. In this way, these vehicles would help decrease traffic congestion and increase efficiency and productivity.
Impact of COVID-19 pandemic would drive the last mile delivery truck segment in the forecast.
Autonomous last-mile delivery trucks can help companies save 40% of the total cost. Also, the shortage of human delivery driver/personnel and increasing e-commerce will be driving the autonomous truck market for last-mile delivery applications. For instance, the E-commerce giant, Amazon, has been eyeing the usage of autonomous last-mile delivery technology to cut the delivery cost and has invested in many tech companies related to it as well. Waymo and Embark are some of the companies that have involved in the development of such delivery truck technologies.
Apart from this, autonomous truck technology might get benefitted shortly, as many e-commerce and shipping companies will be looking to develop autonomous truck deliveries to avoid human contact. For instance, Amazon has been delivering packages with autonomous robots since 2019 in a few areas. The company might incorporate such technology in small delivery trucks, as an option for contact-less delivery post-COVID-19 pandemic.
Asia Pacific is expected to be the fastest-growing market during the forecast period
The Asia Pacific region is expected to be the fastest-growing market. The region comprises countries, such as China, Japan, and South Korea, which have a technologically advanced automotive industry. Chinese AI company, FABU, developed a self-driving truck in March 2019, which will be used for delivery services by companies, China Post and Deppon Express. A Japanese truck manufacturer, UD Trucks, revealed a level 4 autonomous truck in September 2019, which will be operated on a specified delivery route. Also, a South Korean company, Hyundai, successfully demonstrated a truck platooning technology in November 2019, which was the company's first attempt at truck platooning.
From all these developments, it is evident that the region will have a significant market share in the autonomous truck market. Apart from these testing and trials, the region is one of the biggest mining regions, especially China. Thus, recent developments in the autonomous technologies for mining trucks would help the Asia Pacific market to grow rapidly.
North America is expected to be the largest market in the forecast period
The North America region is estimated to be the largest semi-autonomous truck market. The US is at the center of autonomous driving technology developments. Technology companies such as TuSImple, Embark, Plus.ai, and Torc Robotics are developing autonomous driving technologies in the region. The region is facing a shortage of drivers as well, which would further help the autonomous market grow in the forecast.
Also, the region is dominated by pickup trucks, which are equipped with advanced semi-autonomous features. Companies such as Ford and General Motors have been offering such pickup trucks in the region. Substantial sales of these modern pickup trucks to help the North American market grow in the semi-autonomous truck market.
The semi-autonomous and autonomous truck market comprises major manufacturers such as Continental (Germany), Bosch (Germany), Aptiv (UK), AB Volvo (Sweden), and Denso (Japan).
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Semi-Autonomous Truck Market
4.2 Attractive Opportunities in the Autonomous Truck Market
4.3 Semi-Autonomous Truck Market Growth Rate, by Region
4.4 Semi-Autonomous Truck Market, by Propulsion
4.5 Autonomous Truck Market, by Propulsion
4.6 Autonomous Truck Market, by Application
4.7 Semi-Autonomous Truck Market, by Adas Feature
4.8 Semi-Autonomous Market, by Truck Class
4.9 Semi-Autonomous Market, by Level of Automation
4.10 Autonomous Market, by Level of Automation
4.11 Semi-Autonomous Truck Market, by Sensor (Thousand Units)
4.12 Semi-Autonomous Truck Market, by Sensor (USD Million)
4.13 Autonomous Truck Market, by Sensor (Thousand Units)
4.14 Autonomous Truck Market, by Sensor (USD Thousand)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Emphasis on Better Road Safety and Traffic Control
5.2.1.2 Ability of Autonomous and Semi-Autonomous Trucks to Alleviate Truck Driver Shortage
5.2.1.3 Economic Effect of Semi-Autonomous and Autonomous Trucks on the Trucking Industry
5.2.2 Restraints
5.2.2.1 Concerns Over Cybersecurity and Data Privacy
5.2.2.2 Lack of Information Technology and Communication Infrastructure in Developing Nations
5.2.3 Opportunities
5.2.3.1 Increasing Demand for 5G Technology for Vehicle Connectivity
5.2.3.2 Latent Demand for Semi-Autonomous and Autonomous Truck Platooning
5.2.4 Challenges
5.2.4.1 Tapping the Untapped Market
5.2.4.2 Legal and Regulatory Framework Issues
5.3 Autonomous Truck Market, Scenarios (2024-2030)
5.3.1 Autonomous Truck Market, most Likely Scenario
5.3.2 Autonomous Truck Market, Optimistic Scenario
5.3.3 Autonomous Truck Market, Pessimistic Scenario
6 Introduction (COVID-19)
6.1 COVID-19 Health Assessment
6.2 COVID-19 Economic Assessment
6.2.1 COVID-19 Economic Impact - Scenario Assessment
7 Industry Trends
7.1 Technological Overview
7.1.1 Iot and 5G in the Semi-Autonomous and Autonomous Truck Market
7.1.2 Artificial Intelligence and Machine Learning in the Semi-Autonomous and Autonomous Truck Market
7.1.3 Cybersecurity and Data Privacy
7.2 Regulatory Overview
7.3 Value Chain Analysis
7.3.1 Planning and Revising Funds
7.3.2 Automotive Component Suppliers
7.3.3 AV Software and Sensor Suppliers
7.3.4 OEMs
7.4 Patent Analysis
7.4.1 Patent Analysis
7.4.2 Methodology
7.4.3 Document Type
7.4.3.1 Insight
7.5 Case Study
7.5.1 A Case Study on Tesla's Much-Awaited Cybertruck
7.5.2 A Case Study on the Future of Autonomous Trucks and Its Impact on the US Trucking Industry
8 Government Regulation & Guidelines for Testing
8.1 Regional and Country-Level Regulations/Guidelines
8.2 Regulations Related to Last-Mile Delivery Autonomous Trucks
8.3 Impact of Current and Future Regulations on the Semi-Autonomous Truck Market
8.4 Testing and Trials of Autonomous Trucks
9 Autonomous Truck Market, by Application
9.1 Introduction
9.2 Operational Data
9.3 Last Mile Delivery Truck
9.4 Mining Truck
9.5 Key Industry Insights
10 Semi-Autonomous Truck Market, by ADAS Feature
10.1 Introduction
10.2 Operational Data
10.3 Adaptive Cruise Control (ACC)
10.4 Automatic Emergency Braking (AEB)
10.5 Blind Spot Detection (BSD)
10.6 Intelligent Park Assist (IPA)
10.7 Lane Keep Assist (LKA)
10.8 Traffic Jam Assist (TJA)
10.9 Highway Pilot (HP)
10.1 Key Industry Insights
11 Semi-Autonomous and Autonomous Truck Market, Level of Automation Type
11.1 Introduction
11.2 Semi-Autonomous Truck Market, by Level of Automation
11.3 Operational Data
11.4 Level 1
11.5 Level 2 & 3
11.6 Autonomous Truck Market, by Level of Automation
11.7 Level 4
11.8 Level 5
11.9 Key Industry Insights
12 Semi-Autonomous and Autonomous Truck Market, by Propulsion Type
12.1 Introduction
12.2 Operational Data
12.3 Diesel
12.4 Electric
12.5 Hybrid
12.6 Key Industry Insights
13 Semi-Autonomous and Autonomous Truck Market, by Sensor Type
13.1 Introduction
13.2 Operational Data
13.3 Camera
13.4 Radar
13.5 Lidar
13.6 Ultrasonic
13.7 Key Industry Insights
14 Semi-Autonomous Truck Market, by Truck Class
14.1 Introduction
14.2 Operational Data
14.3 Class 1-Class 3 (Light-Duty Truck)
14.4 Class 4-Class 6 (Medium-Duty Truck)
14.5 Class 7 & Class 8
14.6 Key Industry Insights
15 Semi-Autonomous and Autonomous Truck Market, by Region
15.1 Introduction
15.2 Europe
15.3 North America
15.4 Asia Pacific
15.5 Rest of the World (RoW)
16 Competitive Landscape
16.1 Overview
16.2 Market Ranking Analysis for Semi-Autonomous Truck Market
16.3 Market Ranking Analysis for Autonomous Truck Market
16.4 Competitive Scenario
16.4.1 Collaborations/Joint Ventures/Supply Contracts/ Partnerships/Agreements
16.4.2 New Product Developments
16.4.3 Mergers & Acquisitions
16.4.4 Expansions
16.5 Competitive Leadership Mapping for Semi-Autonomous and Autonomous Truck Market
16.5.1 Stars
16.5.2 Emerging Leaders
16.5.3 Pervasive
16.5.4 Emerging Companies
16.6 Strength of Product Portfolio
16.7 Business Strategy Excellence
16.8 Winners vs. Tail-Enders
17 Company Profiles
17.1 Key Players
17.1.1 AB Volvo
17.1.2 Bosch
17.1.3 Continental
17.1.4 Denso
17.1.5 Aptiv
17.1.6 Embark
17.1.7 Daimler
17.1.8 Waymo
17.1.9 Tesla
17.1.10 Paccar
17.1.11 Nvidia
17.1.12 Tusimple
17.2 Other Major Players
17.2.1 North America
17.2.1.1 Qualcomm
17.2.1.2 Intel
17.2.1.3 Uber
17.2.1.4 Nvidia
17.2.1.5 Ford Motor Co.
17.2.1.6 Caterpillar
17.2.2 Europe
17.2.2.1 Scania
17.2.2.2 NXP
17.2.2.3 Iveco
17.2.2.4 ZF
17.2.2.5 Man SE
17.2.2.6 BMW
17.2.2.7 2Getthere
17.2.3 Asia Pacific
17.2.3.1 Hino Motors, Ltd.
17.2.3.2 Isuzu Motors Ltd.
18 Recommendations
18.1 North America will be a Major Semi-Autonomous and Autonomous Truck Market
18.2 Last Mile Delivery Trucks can be a Key Focus for Autonomous Driving Technology Companies
18.3 Conclusion
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