Global Truck Platooning Systems Market Overview:
Trucks are the major type of vehicle adopting the platooning system. Platooning is a method where a group of two or more vehicles travels behind one another safely to experience less fuel consumption, reduced air drag, optimal use of road space thereby avoiding traffic congestion. There has been 4-5% fuel consumption shown by the leading truck using this method. Truck platooning is recognized as the future of the transportation industry. Platoon is similar to the train’s compartment arrangement but with physical disconnects. If truck platoons are permitted to operate on truck-only highways, it is expected to lead to an integrated business model between the infrastructure service provider and transportation service provider and may also result in several public-private partnerships for financing the concept of truck platooning.
Growth Drivers
- Interoperability of truck platooning method and platforms integrating connected technologies.
- Rising adoption of advanced driver assistance system (ADAS) features and significant platooning system.
- Advancement in technology and stringent vehicle norms in emerging economies.
- Reducing CO2 emission and reduction in fuel consumption.
Market Trends
- Anticipated changes in the truck platoon business models.
- The emergence of new businesses due to this market.
Roadblocks
- High cost of hardware technologies such as Adaptive cruise control (ACC), Blind-spot warming (BSW), Forward collision warning (FCW) which increases the overall cost of vehicles.
- Lack of Infrastructure in the transport system in many countries.
Opportunities
- Road construction business, transportation, and logistics service providers and ICT providers offering business opportunities in this market.
Challenges
- Undefined safety parameters.
- Increasing user and public acceptance and concerns over Data privacy and cybersecurity regulations.
Competitive Landscape:
The market is fragmented by numerous players and the market is still at its nascent stage and is far from reaching its potential target. Although the market is comparatively new and is projected to an inherent part of future truck engineered with connected vehicle service offerings.
Some of the key players profiled in the report are Peloton Technology (United States), Volvo Group (Sweden), Scania (Sweden), Daimler (Germany), Navistar (United States), Toyota (Japan), Uber (United States), Bendix Commercial Vehicle Systems (United States), Continental AG (Germany) and IVECO (Italy). The Manufacturers having a strong hold in the market are Meritor WEBCO. Additionally, following companies can also be profiled that are part of our coverage like TomTom (Netherlands), MAN Truck and Bus, NVIDIA (United States), Bosch (Germany) and Meritor WEBCO (United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Truck Platooning Systems market by 2026. Considering Market by Services, the sub-segment i.e. Telematics will boost the Truck Platooning Systems market. Considering Market by Systems, the sub-segment i.e. Adaptive Cruise Control (ACC) will boost the Truck Platooning Systems market. Considering Market by Sensor, the sub-segment i.e. Lidar will boost the Truck Platooning Systems market.
Latest Market Insights:
As of 2017, the UK government announced to invest millions in semi-autonomous truck platoons trials on the country roadways in 2018. and In June 2018, Volvo Trucks, North America announced the successful demonstration of on-highway truck platooning in North Carolina.
What Can be Explored with the Truck Platooning Systems Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Truck Platooning Systems Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Truck Platooning Systems
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Truck Platooning Systems market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Truck Platooning Systems market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Automotive electronic component suppliers, Automotive OEMs, Autonomous platform providers, Autonomous vehicle manufacturers, Technology providers, Automobile industry as an end-user industry and regional automobile associations, Traders, distributors, and suppliers of materials used for truck platooning systems, Truck platooning service providers, Truck platooning component manufacturers, Truck platooning system suppliers and Research institutes and government organizations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.