Autonomous Trucks Market By Sensor Technology (Radar, Camera, LiDAR, Ultrasonic), By Level Of Automation (Level 1, Level 2, Level 3, Level 4, Level 5), By ADAS Features (Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Assist (LA), Automatic Emergency Braking (AEB), Highway Pilot (HP), Other ADAS Features) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

"Growing adoption of autonomous vehicles to drives the growth of autonomous trucks market"

Globally, the autonomous trucks market is expected to grow with a CAGR of more than 9.5% during the forecast period from 2019 to 2027, starting from US$3.5 Bn in 2018.

In recent years, the consumer's interest in the self-driving vehicle is rising rapidly all over the world. The automated mobility gaining its popularity among commercial vehicles. The growing demand for autonomous trucks to reduce the cost and improve safety is the primary factor that drives the growth of autonomous trucks market. Additionally, several government organizations are taking the initiative to adopt autonomous vehicles to lighten truck driver shortage and improve road safety. Thus, this is contributing to the growth of autonomous trucks market. The ongoing adoption of several advanced technologies is anticipated to escalate the growth of autonomous trucks market. The rapidly growing transport industry in the developed and the several underdeveloped countries are boosting the growth autonomy trucks market.

However, the cybersecurity concerns are expected to restrain the growth of autonomous trucks market during the forecast period. Moreover, the introduction of 5G and other advanced technologies in the autonomous trucks are projected to offer several growth opportunities in the autonomous trucks market in near futures. 

Market Synopsis

Autonomous Trucks Market

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"Growing use of radar sensors as the well-established sensors technology to continue dominating the market"

The global autonomous trucks market is segmented into sensors technology, level of automation and the ADAS features. Radar sensors hold the largest market shares of approximately 34% of total market share in the autonomous trucks market.  Radar sensor technology is well-established sensor technology in the autonomous trucks as it has several unique applications in the ADAS including intelligent park assist, blind-spot detection, adaptive cruise control, and many more. Furthermore, the camera sensor is the fastest-growing segment in the autonomous trucks market. By, ADAS features, the market of autonomous trucks is dominated by an adaptive cruise control system followed by the Blind Spot Detection (BSD). Moreover, the introduction of advanced sensors and cameras in the ADAS systems are expected to offer significant growth opportunities in the autonomous trucks market. 

Autonomous Trucks Market

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"Asia Pacific to Register the Fastest Growth"

Geographically, North America holds the largest market share in the global autonomous truck market followed by Europe. Increasing adoption of autonomous and semi-autonomous vehicles and the growing importance of road safety is primarily driving the growth of the autonomous truck market in the North American region. Similarly, stringent government regulations regarding the integration of advanced safety features and tools in the vehicles are also adding to the development of this market in countries such as the US and Canada. Moreover, Asia Pacific is expected to register the fastest growth owing to the technological advancements in the automotive industry, increasing the sending power of the people and rising awareness about road safety.

Autonomous Trucks 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.

Autonomous Trucks Market

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Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The autonomous trucks market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global autonomous trucks market based on technology, level of automation, ADAS features and geography. Key segments covered in the report are as follows:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion

 Sensor Technology Segment (2017–2027; US$ Bn)
 • Radar
 • Camera
 • LiDAR
 • Ultrasonic

 Level of Automation Segment (2017–2027; US$ Bn)
 • Level 1
 • Level 2
 • Level 3
 • Level 4
 • Level 5

 ADAS Features Segment (2017–2027; US$ Bn)
 • Adaptive Cruise Control (ACC)
 • Blind Spot Detection (BSD)
 • Lane Assist (LA)
 • Automatic Emergency Braking (AEB)
 • Highway Pilot (HP)
 • Others

 Geography Segment (2017–2027; US$ Bn)
 • North America (U.S., Rest of North America)
 • Europe (U.K., Germany, France, Rest of Europe)
 • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
 • Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of autonomous trucks in 2018 and forecast up to 2027?
  • Which is the largest regional market for radar sensor segment?
  • What are the major trends followed in the autonomous trucks market across different regions?
  • Who are the key autonomous trucks companies leading the market?
  • What are the key strategies adopted by the leading autonomous trucks companies in the market?

Unique data points of this report

  • Statistics on electric vehicles penetration and spending worldwide
  • Recent trends across different regions in terms of adoption of autonomous trucks for various vehicles
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Jul 2019
Category:  Automotive & Transportation
Report ID:   59787
Report Format:   PDF
Pages:   120
Rating:    4.2 (66)
Delivery Time: 24 Hours to 48 Hours   
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