Autonomous Trucks Market-Overview
The surge in volumes of shipments globally is estimated to fortify the autonomous trucks market in 2020. The automobile industry reports are produced by Market Research Future, which highlights market options for expansion. A 15.6 % CAGR is predicted to drive the development of the market in the forecast period.
The need to sustain market growth is estimated to favor the growth of the autonomous trucks market share. Along with the need to reduce production footprint and manage labor costs, the autonomous trucks market is estimated to grow rapidly in the forecast period.
Segmental Analysis
The segmental study of the autonomous trucks market is segmented on the basis of components, sensor types, technology, and regions. Based on the components, the autonomous trucks market is divided into hardware and software. Based on the sensor type, the autonomous trucks market is segmented into image, LiDAR, ultrasonic, radar, and others. Based on the technology, the autonomous trucks market is segmented into fully automated trucks and semi-automated trucks. Based on the region, the autonomous trucks market is segmented into Europe, North America, Asia Pacific, and the rest of the regions.
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Industry Updates:
Apr 2020 Inceptio Technology, a startup producing self-driving trucks, has attracted USD 100 million in its newest funding round from logistics company GLP, its crucial strategic shareholder G7, and other investors. Reportedly, the takings from its series A funding round will be utilized to expand its technologies further and to create commercial trials.
Mar 2020 TuSimple, a self-driving truck startup, has stated the partnership with auto parts dealer Z.F. to expand and commercialize the equipment for autonomous trucks. In the newest partnership, both the businesses will co-develop production-quality technologies such as radar, cameras, LiDAR, steering, and Z.F.’s automotive-grade central computer ZF ProAI. Alongside, Z.F. will buoy up TuSimple’s pre-production driverless autonomous system, and will eventually be the default supplier for their production-ready system for commercialized vehicles.
Detailed Regional Analysis
The regional scrutiny of the autonomous trucks market includes regions such as Europe, North America, Asia Pacific, and the rest of the regions. Amongst all the regions, the North American region is anticipated to govern the development of the market for the duration of the forecast period trailed by the European region. The towering rate of technology implementation, amplified amount of foreign tonnage, and the presence of major independent trucks manufacturers are anticipated to impel the augmentation of the region in the forecast period. The availability of contemporary infrastructure amenities and the rise in demand for automobiles is further motivating the autonomous trucks market.
Competitive Analysis
The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The market is in a state of flux due to the rapid and severe changes in the global economy. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future. The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period.
The well-known companies in the autonomous trucks market are Delphi Automotive PLC (Ireland), A.B. Volvo (Sweden), Google Inc (U.S.), Uber Technologies Inc. (U.S.), Ford Motor Co. (U.S.), Volkswagen AG (Germany), General Motor Company (U.S.), BMW AG (Germany), Robert Bosch GmbH (Germany), Tesla Inc. (U.S.), Embark Trucks (U.S.).
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