Automated Truck Market Analysis by Trends, Types, Applications, Manufacturers, Regions size and Forecast up to 2030
The global automated truck market will be recording notable growth pace during the forecast period (2020-2030). The market demand for automated trucks is estimated to rise in the approaching years particularly due to their in-built advanced technological systems, for instance enhanced sensors and cameras for quick response. These progressions also assist in eliminating the requirement for the driver's physical presence.
"With increase in demand from high potential markets extending to grow, the market's future will be highly impressive. The entrance of promising startups will offer a new direction to the worldwide automated truck market." says a Fact.MR analyst.
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Key Takeaways
Cab-integrated segment is projected to continue lead the truck type segment over the forecast period.
Class 8 & class 9 segment will be accounting for the highest share of the overall automated truck market.
The LiDAR sensor segment is expected to account for highest market share in the global market.
The autonomy level 3 is estimated to remain lucrative in the global market
Drivers
Favourable initiatives undertaken by governments and OEMs to improve and enhance automated trucks will augur well for the market.
Expansion of industrial sectors in the developing market as well as growing demand from the logistics and construction industry are driving the global market.
Technological advancements prompting transport of materials and goods without manual support is supporting market growth.
Growing shortage of human drivers in the trucking sector will fuel the autonomous truck market.
Constraints
Rise in cybercrime as well as data privacy can hamper the market over the forecast period.
Automated trucks can lead to job cuts, particularly in the emerging regions challenges the market expansion.
Anticipated Market Impact by COVID-19 Outbreak
The automated truck market witnessed massive disruption on the onset of the COVID-19 outbreak. From investments to sales to manufacturing activities, the market writhed rigorously. The decline is majorly due to the economic deceleration across borders owing to measures to comprehend COVID-19.
Players are now investing and advancing towards novel technologies to save costs without conceding the employees' health. As per Fact.MR, the market is likely to recover in the foreseeable future.
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Competition Landscape
Major companies of the global automated truck market are Daimler AG, Uber Technologies Inc., Ford Motor Co., BMW AG, AB Volvo, Tesla Inc., IVICO, Google Inc., MAN, Scania, and DAF, among others. Market players are coming up with strategies to sustain their position and satiate consumer end use industry with cutting-edge automated trucks. Moreover, the market is foreseeing a rising interest in joint ventures with research and development companies and partnerships with investors to extend their customer base and industrial roots worldwide.
More on the Report
The Fact.MR's market research report provides in-depth insights into the Automated Truck market. The market is scrutinized on the basis of truck type (cab-integrated and cables), end use industry (mining and logistics), sensors (RADAR, LiDAR, Camera and others), and storage (manual and automated), class (class 8 and class 9, and Ultra class), level of autonomy(level 3, level 4 and level 5), across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
Press Release: https://www.factmr.com/media-release/1725/global-automated-trucks-market