Semi-autonomous & Autonomous Truck Market by ADAS Feature (ACC, AEB, BSD, HP, IPA, LKA & TJA), Sensor (Camera, LiDAR, Radar, & Ultrasonic), Level of Automation (L1 to L5), Truck Class (Class 1 to Class 8), Propulsion, and Region - Global Forecast to 2030
Northbrook, IL -- (SBWIRE) -- 05/30/2018 -- According to a new market research report "Semi-autonomous & Autonomous Truck Market by ADAS Feature (ACC, AEB, BSD, HP, IPA, LKA & TJA), Sensor (Camera, LiDAR, Radar, & Ultrasonic), Level of Automation (L1 to L5), Truck Class (Class 1 to Class 8), Propulsion, and Region - Global Forecast to 2030", published MarketsandMarkets™, the market is estimated to be 260.1 thousand units in 2018 and is projected to grow at a CAGR of 23.38%, to reach 1,132.3 Thousand Units by 2025. The global autonomous truck market is estimated to be 15.2 Thousand Units in 2025 and is projected to grow at a CAGR of 39.96%, to reach 81.8 Thousand Units by 2030. The growth of this market is fueled by technological advancements in the field of connected vehicle and driver assistance features used in the vehicles. Connected vehicles are the stepping stones for autonomous vehicles and trucks as they can communicate with other vehicles and their surroundings.
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Radar segment to hold the largest share in the Semi-Autonomous and Autonomous Truck Market, by sensor type
The radar segment is projected to account for the largest share in the global semi-autonomous truck market in 2025. Radar technology helps to detect and track objects at a certain distance. The market for LIDAR technology, which can detect an object and create a three-dimensional image, is estimated to grow at the highest CAGR during the forecast period for autonomous truck. The LIDAR technology is an essential solution for the development of autonomous vehicles in the future.
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Increasing number of accidents and concerns about safety and security are expected to drive the growth of level 2 and level 3 semi-autonomous trucks
The level 2 and level 3 automation is expected to grow at a higher CAGR than level 1 automation. The growth of level 2 and level 3 automation can be attributed to the increasing demand for highly secure and safe transportation and government norms in the emerging economies. Level 2 and level 3 semi-autonomous trucks have highly advanced driver assistance features that will help to increase road safety and truck security. The demand is expected to increase in developed as well as developing countries such as the US, Germany, China, and Japan, where key truck manufacturers are located.
North America: Leading the Semi-Autonomous and Autonomous Truck Market
North America is projected to account for the largest share, in terms of volume, of the Semi-Autonomous and Autonomous Truck Market in 2025 and 2030, respectively. Truck production volumes in the region have increased over the years, with OEMs catering not only to the domestic demand but also to overseas demand.
The Semi-Autonomous and Autonomous Truck Market is dominated by a few globally established players such as Bosch (Germany), Continental (Germany), Aptiv (UK), ZF (Germany), and Denso (Japan). Moreover, technology developers such as Uber (US), Waymo (US), and TuSimple are providing momentum to the growth of the market.
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