Industry Background:
Autonomous trucks or self-driving trucks require no human driver. These trucks are best suited for long-distance highways. Humans are still needed to navigate local streets and non-driving tasks such as coupling tractors and trailers, fueling, inspection, loading, and unloading. This technology has the potential to make commercial trucking more cost-efficient and safer. This approach is likely to lead to the “digitization” of freight, with app-based marketplaces where local drivers can select from available loads. There has been a range of tests and developments taking place in the autonomous vehicle sector in the last few years. The adoption of this technology depends on factors such as technological limitations and public acceptance.This growth is primarily driven by Labor Shortage Is Driving the Demand for Trucks That Do Not Require Human Assistance
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Automobiles sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Daimler AG (Germany), Waymo (Alphabet) (United States), Tesla Inc. (United States), Embark (United States), TuSimple, Inc. (United States), MAN SE (Germany), Starsky Robotics (United States), AB Volvo (Sweden), DAF (Paccar) (United States) and Scania (Sweden), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2019, UPS Ventures made a minority investment in autonomous driving company TuSimple. Together, both companies are testing self-driving tractor-trailers on a route in Arizona to determine whether the vehicles can improve service and efficiency in the UPS® network. This is an extension of the ongoing commercial relationship between UPS and TuSimple in which UPS has purchased transportation services from TuSimple.
In October 2017, autonomous trucks built and operated by the startup Embark have been hauling Frigidaire refrigerators 650 miles along the I-10 freeway. The route begins from a warehouse in El Paso, Texas, to a distribution center in Palm Springs, California. It showcases the way that tech-giants see self-driving playing into the logistics industry.
Influencing Trend:
Research and Developments in Technology to Increase Reliability and Minimize Faults or Failure
Market Growth Drivers:
Labor Shortage Is Driving the Demand for Trucks That Do Not Require Human Assistance, High Demand Since Autonomy Leads To Reduced Costs of Operation and Increasing Demand Since Fuel Efficiency Reduces Environmental Impact
Challenges:
Designing a vehicle that is handled in all possible situations
Restraints:
Lack of Proper Infrastructure in Developing Nations and Massive Job Losses May Limit Acceptance
Opportunities:
The Booming Logistics Industry Will Raise Demand and E-Commerce Growth and Rising Focus On Speedy Transport of Freight
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Autonomous Trucks Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Autonomous Trucks Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Autonomous Trucks players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Autonomous Trucks Study Sheds Light on
The Autonomous Trucks Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Autonomous Trucks industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Autonomous Trucks industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.