According to a new market research report published by Credence Research “Global Autonomous trucks Market (Sensors Technology (Radar, Camera, LiDAR, Ultrasonic); Level of Automation (Level 1, Level 2, Level 3, Level 4, and Level 5); ADAS Features(Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Assist (LA), Automatic Emergency Braking (AEB), Highway Pilot (HP), Others )) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall autonomous trucks market worldwide was valued at US$3.5 Bn in 2018 and is set to grow with a CAGR of 9.5% during the forecast period.
The autonomous trucks are one of the major trends in the automotive and the logistics market. They help to reduce the transportations and logistics costs. It also improves safety and minimizes road accidents. The high demand for safety features coupled with the growing mortality rate caused by the road accordance is the key factor that drives the growth of autonomous trucks market. The growing awareness about the benefits offered by the autonomous trucks over the traditional trucks is anticipated to boost the growth of autonomous trucks market.
Several government organizations are taking initiative to adopt the autonomous trucks that are likely to fuel the growth of autonomous vehicles market. On the other hand, the data security concerns are expected to hamper the growth of autonomous trucks market. Furthermore, the growing research and development in automated mobility are projected to server various growth opportunities for the autonomous trucks market.
The report of the autonomous truck market covers North America, Europe, Asia Pacific, and RoW. Among these regions, North America dominates the market with a revenue share of more than 42% across the globe. Increasing Investment by the government in adopting autonomous trucks across transport application is the primary factor that drives the growth of North America autonomous truck market. In addition, the safety and cost-effective benefits offered by the autonomous truck are promoting the growth of autonomous trucks in the region. Furthermore, Asia Pacific is set to grow with the highest CAGR over the forecast period. Rapidly growing automotive and the transport industries in the Asia Pacific region is accelerating the growth of Asia Pacific autonomous truck market.
Some of the prominent players operating in the autonomous trucks market include Volkswagen AG, Toyota Motor Corporation, Isuzu Motors Limited, Tesla, Inc, General Motors, AB Volvo, Continental AG, Daimler AG, and others.
Browse the full report at https://www.credenceresearch.com/report/autonomous-trucks-market
The Global Autonomous trucks Market is Segmented into:
|Segmentation||By Sensor Technology Segment (2017–2027; US$ Bn)|
|By Level of Automation Segment (2017–2027; US$ Bn)|
|By ADAS Features Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page