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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