Autonomous Trucks Market Size, Share & Analysis

Report Code AT 7660
Published in Jul, 2024, By MarketsandMarkets™
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Autonomous Trucks Market by LoA (L1, L2/ L3, L4 & L5), Vehicle Type, Propulsion (Diesel, Electric, Hybrid), ADAS Features, Vehicle Class, Application, Sensor Type and Region - Global Forecast to 2035

Overview

The global Autonomous trucks market size is projected to grow from USD 40.7 billion in 2024 to USD 179.9 billion by 2035, at a CAGR of 14.4%. The Autonomous trucks market is witnessing robust growth driven by increasing demand for autonomous vehicles and innovation around advance driving technologies may drive the market for autonomous trucks.

Attractive Opportunities in the Autonomous Trucks Market

North America

Market growth in North America is attributed to the increasing demand of trucks and buses with intelligent features and safety features.

The Semi-autonomous & autonomous Trucks and Buses market is experiencing rapid growth driven by increase penetration of electric and autonomous vehicles.

The Semi-autonomous & autonomous Trucks and Buses market in the US is experiencing revenue growth driven by the rising demand in Trucks and Buses with comfort and safety features.

The market in North America is projected to reach USD 65.4 billion by 2035 growing at CAGR of 14.8% during the forecast period.

The strong push of Government regulations mandating the installation of advance driving feature in commercial vehicles is expected to drive market growth

Global Autonomous Trucks Market Dynamics

DRIVER: Rising adoption of automation technology

Automation is another major driver in the industry. The automotive industry is transitioning to provide higher levels of automation, with self-driving technologies enabling vehicles to function safely and effectively. Key components of autonomous driving technology include adaptive cruise control, lane keep assistance, and automatic emergency braking. These features enhance vehicle safety and help move it closer to full autonomy. Furthermore, the more investment car companies put into developing self-driving technologies, the more sophisticated sensors, cameras, radars, and software become in buses and trucks to perceive and react to their environment. Investments, partnerships, and technological progress that foster innovation have, therefore, been spurred on by increasing demand for the manufacture of autonomous vehicles. OEMs are working with many Tier 1 suppliers to design and integrate ADAS. For instance, Magna International in Canada and Robert Bosch GmbH in Germany are working on such a mission. Magna International last month launched its ClearView vision system on the Ram 2500 and 3500 heavy-duty pickup trucks, systems it said improved parking and maneuvering features.

RESTRAINT: Lack of infrastructure in developing countries

The insufficient infrastructure is a major obstacle for the widespread use of advanced driver features in autonomous trucks. Although these technologies show potential progress in automotive safety and efficiency, their success greatly depends on complementary infrastructure, specifically communication networks and road infrastructure. Autonomous trucks require essential infrastructure such as clearly labeled roads, lane markers, and GPS connectivity in order to operate efficiently. Good connectivity infrastructure is essential for efficient functioning of vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2X) communications. Information such as lane changes, object detection, vehicle distances, traffic updates, and navigation and connectivity services are essential for advanced vehicles on highways. Nevertheless, due to the restricted network connections on highways, autonomous trucks may not always be able to access cloud data.In developing nations like Mexico, Brazil, and India, the progress of IT infrastructure on highways is lagging behind that of more advanced countries. Insufficient infrastructure could restrict the capabilities of autonomous trucks, like V2I communication and real-time traffic data integration, making them less effective.

 

OPPORTUNITY: Surge in demand for truck platooning

Truck platooning is a convoy of commercial vehicles that are closely controlled to travel in coordination with the help of connectivity technologies, autonomous driving systems, and artificial intelligence. The first vehicle is a leader for the entire platoon; all subsequent vehicles can move at varying speeds and change lanes according to the leader's behavior, requiring minimal driver intervention. The design of autonomous truck platooning is coming along with an increasing demand for fuel efficiency and the need to solve traffic congestion. Adaptive cruise control between platooning trucks enhances fuel economy by allowing the trucks to travel at a constant speed while maintaining close following distances. Other benefits of platooning include reducing traffic congestion by allowing other vehicles on the road and providing a smooth traffic flow on busy routes.

CHALLENGE: Regulatory hurdles

There is a massive influence from the evolving regulatory framework on the autonomous trucks market. The governments of most countries in the world have been developing regulations dealing with the safety standards in commercial vehicles, which shall be the key driver for the transformation of this market. For instance, the accident of a self-driving car in the US (August 2023) that resulted in a fatality can be an excellent example to understand these problems. A series of lawsuits and court proceedings will follow as autonomous trucks gain traction in the market. New safety and infrastructural regulations are being developed concerning new technologies in shuttles, buses, and last-mile delivery trucks. Buses are another area where OEMs, software providers, and Tier I suppliers focus on developing automated driving systems. However, there are still several issues at large in terms of how successfully a self-driving bus and truck can be introduced into it, among them the legislative environment. What defines an adequate functioning level for autonomous trucks is a legal framework that specifies accident liability, insurance premiums, technology failure responsibility, driver training, and others.

Global Autonomous Trucks Market Ecosystem Analysis

In the autonomous trucks market ecosystem, component providers supply crucial elements such as semiconductors, sensors, software, processors, and controllers used in vehicle radar and sensing systems, alongside control modules and power electronics for automated driving and safety systems. Leading Tier 1 providers such as Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), ZF Friedrichshafen AG (Germany), and Valeo (France) play pivotal roles in integrating autonomous features into bus and truck models through partnerships and agreements with component manufacturers and technology providers. Software companies within the ecosystem collaborate with these providers or develop their systems to enhance ADAS functionalities.

 

LiDAR segment is estimated to exhibit the fastest growth in autonomous trucks market

Laser imaging detection and ranging (LiDAR) technology employs laser beams to measure the distance from an object, operating on a principle similar to radar sensors. LiDAR sensors find application in systems such as adaptive cruise control, collision avoidance, and night vision. Unlike radar, LiDAR utilizes shorter wavelengths, enabling effective detection of nonmetallic objects and those with weaker reflections. Its angular resolution is precise, achieving sub-degree accuracy both horizontally and vertically, owing to its utilization of short wavelengths and pulses. This characteristic renders LiDAR well-suited for high-resolution 3D environment mapping, facilitating accurate detection of free spaces, boundaries, and vehicle localization. Consequently, LiDAR plays a pivotal role in achieving L3 and higher autonomy levels. Innovative LiDAR technologies such as solid-state LIDAR, MEMS LIDAR, and electronically scanning LIDAR have emerged in recent years. These advancements aim to enhance the suitability of LIDAR for automotive applications in terms of size, cost, and robustness. While these technologies present improvements over traditional mechanical rotating LiDAR, further maturation is required to align with the maturity level of other ADAS sensors. The increasing traffic congestion, growing demand for roadways and vehicle safety systems, and the rising preference for semi-autonomous and autonomous vehicles drive the demand for LiDAR system sensors.

Last-mile Delivery Truck segment is expected to have significant growth in Autonomous trucks market during the forecast period

The growth of e-commerce has significantly increased the demand for efficient and reliable last-mile delivery solutions. Last-mile delivery trucks play a crucial role in logistics, transporting goods from distribution centers or facilities to end-users. To meet this rising demand, autonomous trucks are being increasingly adopted. These vehicles can operate longer hours without fatigue and help reduce operational costs, making them an attractive option for the logistics industry. Autonomous trucks are witnessing high demand due to the expansion of the e-commerce sector. The primary goal is to deliver goods to consumers on time and reduce delivery costs for companies. In the US, continuous efforts are underway to develop next-generation drone and ground delivery vehicle technologies. These innovations are expected to expand last-mile delivery options in rural and urban areas, enhancing the efficiency and reach of delivery services. Companies are investing heavily in advanced sensor systems, machine learning algorithms, and real-time data analytics to improve the safety and efficiency of autonomous delivery trucks. For instance, the integration of AI-driven route optimization tools helps in planning the most efficient delivery paths, reducing fuel consumption and delivery times.L2 and L3 segment is expected to see largest growth in Autonomous trucks market during the forecast periodLevel 2 automation is called partial automation. In Level 2 semi-autonomous trucks, the system can take control or assist in acceleration, steering, and braking in certain circumstances. The driver needs to monitor the driving environment, perform safety-critical functions, perform dynamic driving tasks, and always be ready to take control of the truck. In addition to the ADAS features integrated into level 1 autonomous trucks, level 2 automation offers additional features such as TJA, automated platooning, and Intelligent Park Assist (IPA). Level 3 automation is called conditional automation. The major difference between level 2 and level 3 semi-autonomous trucks is that the system monitors the driving environment and executes acceleration and steering. However, the driver still needs to perform dynamic driving tasks. The driving environment is monitored with the help of sensors such as LIDAR and radar. The data from LIDAR is used to create localization and mapping. About 1 or 2 LIDARs can be used in a level 3 semi-autonomous truck. The 3D LIDARs manufactured by Velodyne have a 360-degree field of view (FoV). Hence, one LIDAR is sufficient to monitor the surroundings. In addition to some of the features offered in level 1 and level 2, level 3 semi-autonomous trucks are integrated with ADAS features such as highway pilot, co-pilot, and highly automated truck platooning. The production of level 3 semi-autonomous trucks is currently in the development phase. However, speedy R&D activities and increasing investments from the industry are expected to boost the segment.

Europe region holds the largest share of the Autonomous Trucks Market.

The automotive sector in Europe boasts 322 automobile assembly and production plants across the region. Among these, 71 focus on buses and 56 on trucks, as of August 2023. Despite the recent global automotive slowdown, the European automotive market has demonstrated consistent growth over the past six years. In January 2024, the European Union's new vehicle market rebounded with a robust 12.1% year-on-year increase in registrations, totaling 851,690 units, following a slowdown in December 2023. Leading European automobile manufacturers have been offering high-performance engines and advanced safety features to maintain competitiveness, which are crucial for the development of autonomous trucks.

 
 

Recent Developments of Autonomous Trucks Market industry

  • In March 2024, MAN Truck & Bus SE partnered with TRATON GROUP, Scania, Navistar International Inc., and PlusAI, Inc. for autonomous driving for trucks. In February 2024, MAN Truck & Bus SE expanded its logistics center in Salzgitter, Germany, strengthening its global service parts network. In January 2024, Daimler Truck AG partnered with Aeva Inc. and Torc Robotics to commercialize self-driving vehicle technology to equip its series-produced autonomous trucks with Aeva Inc.'s advanced 4D LiDAR sensors. In December 2023, Demy Schandeler and AB Volvo entered into a contract for fifteen e-buses to upgrade the present Volvo 7900 Electric, which are scheduled for delivery in the first half of 2025. In October 2023, Hyundai Motor Company and Iveco S.p.A collaborated to develop and deploy electric heavy-duty trucks in Europe, focusing on autonomous driving technologies. In September 2023, AB Volvo partnered with Boliden to integrate autonomous transport solutions into mining operations.
  • In July 2023, IVECO S.p.A and PlusAI, Inc. announced that the IVECO S-Way truck, equipped with PlusDrive, is operational on public roads in Germany. In June 2023, Aurora Innovation Inc. launched the Aurora Multi-Sensor Dataset, a large-scale multi-sensor dataset in collaboration with the University of Toronto. In May 2023, Daimler Truck AG, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Ltd., and Toyota Motor Corporation signed an MoU. In April 2023, Continental AG and Aurora Innovation Inc. have entered an exclusive partnership to manufacture future generations of Aurora’s flagship integrated hardware and software systems, such as Aurora Driving, aiming for commercial scalability. In February 2023, AB Volvo Venture Capital AB invested in Waabi Innovation Inc. to transform the freight transportation sector by accelerating the development and deployment of cutting-edge autonomous trucking solutions.

Key Market Players

KEY PLAYERS IN THE Autonomous Trucks Market INCLUDE

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Scope of the Report

Report Attribute Details
Market size available for years 2019–2035
Base year considered 2024
Forecast period 2024-2035
Forecast units Value (USD Million)
Segments covered By Vehicle type, By Vehicle class, Propulsion Type, By ADAS features, By Application, By Sensor type, By Level of autonomy, and Region
Geographies covered Asia Pacific, Europe, North America, and Rest Of The World
Companies Covered Daimler Truck AG (Germany), AB Volvo (Sweden), NVIDIA Corporation (US), Robert Bosch GmbH (Germany), PlusAI, Inc. (US) Continental AG (Germany), Denso Corporation (Japan), More than 25 major players are covered under the report.

 

Key Questions Addressed by the Report

What is the current size of the autonomous trucks market?
The autonomous trucks market size is estimated to be USD 40.77 Billion in 2024 and expected to reach USD 179.92 Billion by 2035.
Who are the winners in the autonomous trucks market?
The autonomous trucks market is dominated by major players such as: Daimler Truck AG (Germany), AB Volvo (Sweden), Scania (Sweden), Robert Bosch (Germany), Continental AG (Germany), Denso Corporation (Japan), and Aurora Innovation Inc. (US).
What are the new market trends impacting the growth of the autonomous trucks market?
New market trends include the inclusion of Artificial Intelligence (AI) and Machine Learning (ML) to enhance the safety and intuitiveness of current ADAS features, and innovations in sensor technology.
Which region is expected to be the largest market during the forecast period?
Asia Pacific is anticipated to be the largest market for autonomous trucks due to the increasing adoption of electric and autonomous commercial vehicles in the region.
What is the total CAGR expected to be recorded for the autonomous trucks market during 2024-2035?
The CAGR is expected to record 14.4% from 2024 to 2035.

 

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Table of Contents

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TITLE
PAGE NO
TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 OBJECTIVES OF THE STUDY 
    1.2 MARKET DEFINITION  
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE  
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY & PRICING 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
           1.6.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY 
    2.1 RESEARCH DATA 
           2.1.1 SECONDARY DATA
                    2.1.1.1 KEY SECONDARY SOURCES
                    2.1.1.2 KEY DATA FROM SECONDARY SOURCES
           2.1.2 PRIMARY DATA
                    2.1.2.1 LIST OF PRIMARY PARTICIPANTS
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN & DATA TRAINGULATION 
    2.4 FACTOR ANALYSIS 
    2.5 RESEARCH ASSUMPTIONS 
    2.6 IMPACT OF RECESSION  
    2.7 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1 INTRODUCTION 
    5.2 TRENDS & DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS  
    5.3 MARKET DYNAMICS 
           5.3.1 DRIVERS
           5.3.2 RESTRAINTS
           5.3.3 OPPORTUNITIES
           5.3.4 CHALLENGES
    5.4 PRICING ANALYSIS 
           5.4.1 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, SENSOR TYPE
           5.4.2 AVERAGE SELLING PRICE TRENDS, BY REGION 
    5.5 ECOSYSTEM ANALYSIS 
    5.6 VALUE CHAIN ANALYSIS 
    5.7 CASE STUDY ANALYSIS 
    5.8 INVESTMENT AND FUNDING SCENARIO 
    5.9 PATENT ANALYSIS 
    5.1 TOTAL COST OF OWNERSHIP ANALYSIS 
    5.11 BILL OF MATERIAL ANALYSIS 
    5.12 TECHNOLOGY ANALYSIS 
           5.12.1 KEY TECHNOLOGIES
           5.12.2 COMPLIMENTARY TECHNOLOGIES
           5.12.3 ADJACENT TECHNOLOGIES
    5.13 REGULATORY LANDSCAPE 
           5.13.1 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS
    5.14 HS CODE ANALYSIS 
    5.15 KEY CONFERENCES & EVENTS IN 2024 & 2025 
    5.16 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS
           5.16.2 BUYING CRITERIA
 
6 AUTONOMOUS TRUCKS MARKET, BY ADAS FEATURE 
    6.1 INTRODUCTION 
    6.2 ADAPTIVE CRUISE CONTROL (ACC)   
    6.3 ATOMATIC EMERGENCY BRAKING (AEB) 
    6.4 BLIND SPOT DETECTION (BSD) 
    6.5 INTELLIGENT PARK ASSIST (IPA) 
    6.6 LANE KEEP ASSIST (LKA) 
    6.7 TAFFIC JAM ASSIST (TJA) 
    6.8 HIGHWAY PILOT (HP) 
    6.9 KEY PRIMARY INSIGHTS 
 
7 AUTONOMOUS TRUCKS MARKET, BY LEVEL OF AUTONOMY 
    7.1 INTRODUCTION 
    7.2 L1 
    7.3 L2&L3 
    7.4 L4 
    7.5 L5 
    7.6 KEY PRIMARY INSIGHTS  
Note: MnM will provide market size in terms value at regional level
 
8 AUTONOMOUS TRUCKS, BY PROPULSION 
    8.1 INTRODUCTION 
    8.2 DIESEL 
    8.3 ELECTRIC 
    8.4 HYBRID 
    8.5 KEY PRIMARY INSIGHTS 
Note: MnM will provide market size in terms of volume and value at regional level
 
9 AUTONOMOUS TRUCKS, BY SENSOR TYPE 
    9.1 INTRODUCTION 
    9.2 CAMERA 
    9.3 RADAR 
    9.4 LIDAR 
    9.5 ULTRASONIC 
    9.6 KEY PRIMARY INSIGHTS  
Note: MnM will provide market size in terms of volume and value at regional level
 
10 AUTONOMOUS TRUCKS MARKET, BY APPLICATION 
     10.1 INTRODUCTION 
     10.2 LAST MILE DELIVERY TRUCKS 
     10.3 MINING TRUCKS 
     10.4 SHUTTLE 
     10.5 INTERCITY/INTRACITY 
     10.6 KEY PRIMARY INSIGHTS 
 
11 AUTONOMOUS TRUCKS MARKET, BY VEHICLE TYPE 
     11.1 INTRODUCTION 
     11.2 BUSES 
     11.3 TRUCKS 
     11.4 KEY PRIMARY INSIGHTS 
 
12 AUTONOMOUS TRUCKS MARKET, BY VEHICLE CLASS 
     12.1 INTRODUCTION 
     12.2 CLASS 1-CLASS 3 (LIGHT DUTY TRUCKS) 
     12.3 CLASS 4-CLASS 6 (MEDIUM DUTY TRUCKS) 
     12.4 CLASS 7-CLASS 8 
     12.5 KEY PRIMARY INSIGHTS 
Note: MnM will provide market size in terms of volume and value at regional level
 
13 AUTONOMOUS TRUCKS MARKET, BY REGION 
     13.1 INTRODUCTION 
     13.2 ASIA PACIFIC 
             13.2.1 RECESSION IMPACT
             13.2.2 CHINA
             13.2.3 JAPAN
             13.2.4 SOUTH KOREA
             13.2.5 INDIA
     13.3 EUROPE 
             13.3.1 RECESSION IMPACT
             13.3.2 GERMANY
             13.3.3 FRANCE
             13.3.4 ITALY
             13.3.5 SPAIN
             13.3.6 UK
     13.4 NORTH AMERICA 
             13.4.1 RECESSION IMPACT
             13.4.2 US
             13.4.3 CANADA
             13.4.4 MEXICO
     13.5 REST OF THE WORLD 
             13.5.1 RECESSION IMPACT
             13.5.2 BRAZIL
             13.5.3 RUSSIA
 
14 COMPETITIVE LANDSCAPE 
     14.1 OVERVIEW 
     14.2 KEY PLAYER STRATEGIES/ RIGHT TO WIN 
     14.3 MARKET RANKING ANALYSIS FOR AUTONOMOUS TRUCK MANUFACTURERS, 2023 
     14.4 COMPANY VALUATION AND FINANCIAL METRICS 
     14.5 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS,2023 
     14.6 BRAND/ PRODUCT COMPARISON 
     14.7 COMPANY EVALUATION MATRIX FOR AUTONOMOUS TRUCKS MARKET 
             14.7.1 STARS
             14.7.2 EMERGING LEADERS
             14.7.3 PERVASIVE PLAYERS 
             14.7.4 PARTICIPANTS
             14.7.5 COMPANY FOOTPRINT: KEY PLAYERS
                       14.7.5.1 REGIONAL FOOTPRINT
                       14.7.5.2 VEHICLE TYPE FOOTPRINT
                       14.7.5.3 LEVEL OF AUTONOMY FOOTPRINT
                       14.7.5.4 BY SENSOR TYPE FOOTPRINT
                       14.7.5.5 BY APPLICATION FOOTPRINT
                       14.7.5.6 BY PROPULSION TYPE FOOTPRINT
                       14.7.5.7 BY ADAS FEATURES FOOTPRING
     14.8 START-UP/SME EVALUATION MATRIX, 2023  
             14.8.1 PROGRESSIVE COMPANIES
             14.8.2 RESPONSIVE COMPANIES
             14.8.3 DYNAMIC COMPANIES
             14.8.4 STARTING BLOCKS
             14.8.5 COMPETITIVE BENCHMARKING: START UPS/SMES, 2023
                       14.8.5.1 DETAIL LIST OF KEY STARTUPS/SMES
                       14.8.5.2 COMPETITIVE BENCHMARKING OF KEY STARTUPS
     14.9 COMPETITIVE SCENARIO 
             14.9.1 DEALS
             14.9.2 NEW PRODUCT LAUNCHES
             14.9.3 EXPANSION
             14.9.4 OTHERS
Note: Revenue analysis will be provided only for public listed companies
 
15 COMPANY PROFILES 
     15.1 KEY PLAYERS 
(Business overview, Products offered, MnM View and Recent Developments) *
             15.1.1 AB VOLVO
                       15.1.1.1 AB VOLVO: Business Overview 
                       15.1.1.2  AB VOLVO: Business Financials  
                       15.1.1.3  AB VOLVO: Geographical Analysis
                       15.1.1.4 AB VOLVO: Product Category
             15.1.2 ROBERT BOSCH GMBH
             15.1.3 CONTINENTAL AG
             15.1.4 DENSO CORPORATION
             15.1.5 APTIVE
             15.1.6 EMBARK
             15.1.7 NVIDIA
             15.1.8 DAIMLER
             15.1.9 WAYMO
               15.1.10 TESLA
               15.1.11 PACCAR
               15.1.12 2GETTHERE (ZF)
               15.1.13 LOCAL MOTORS (LM INDUSTRIES)
               15.1.14 PROTERRA
               15.1.15 EASYMILE
               15.1.16 NAVYA
     15.2 OTHER KEY PLAYERS 
             15.2.1 QUALCOMM
             15.2.2 INTEL
             15.2.3 UBER
             15.2.4 FORD MOTOR CO.
             15.2.5 CATEPILLAR
             15.2.6 SCANIA
             15.2.7 NXP
             15.2.8 IVECO
             15.2.9 MAN SE
               15.2.10 BMW
               15.2.11 HINI MOTOR, LTD.
               15.2.12 ISUZU MOTOR,LTD.
               15.2.13 YUTONG
               15.2.14 
               15.2.15 *MnM view will be provided for the top 5 players in Key Players. Financials would be provided for listed companies or as per data availability.
               15.2.16 *Company name may vary during report study or upon client request
               15.2.17 
 
16 RECOMMENDATIONS BY MARKETSANDMARKETS 
 
17 APPENDIX 

The research study involved extensive secondary sources, such as company annual reports/presentations, industry association publications, magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the Autonomous trucks market. Primary sources, such as experts from related industries, automobile OEMs, and suppliers, were interviewed to obtain and verify critical information and assess the growth prospects and market estimations.

Secondary Research

Secondary sources for this research study include corporate filings, such as annual reports, investor presentations, and financial statements; trade, business, and professional associations; whitepapers, marklines, and the OICA (International Organization of Motor Vehicle Manufacturers); certified publications; articles by recognized authors; directories; and databases. Secondary data was collected and analyzed to determine the overall market size, further validated by primary research.

Primary Research

Extensive primary research was conducted after understanding the Autonomous trucks market scenario through secondary research. Several primary interviews were conducted with market experts from the demand side (vehicle manufacturers, country-level government associations, and trade associations) and the supply side (autonomous trucks and buses manufacturers, component providers, and system integrators). The regions considered for the research include North America, Europe, the Asia Pacific, and the Rest of the World. Approximately 17% and 83% of primary interviews were conducted from the demand and supply sides. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and marketing, were covered to provide a holistic viewpoint in this report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter experts’ opinions, led to the findings described in this report.

Autonomous Trucks Market Size, and Share

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Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the volume and value of the Autonomous trucks market and other submarkets, as mentioned below.

  • Secondary research identified key players in the autonomous trucks market. Their global market share was determined through primary and secondary research.
  • The research methodology included studying the annual and quarterly financial reports & regulatory filings of major market players and interviews with industry experts for detailed market insights.
  • All major penetration rates, percentage shares, splits, and breakdowns for the autonomous trucks market across end users were determined using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

Autonomous trucks market Size: Bottom-Up Approach

Autonomous Trucks Market Market Bottom Up Approach

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Autonomous trucks market Size: Top-Down Approach

Autonomous Trucks Market Top Down Approach

Data Triangulation

After arriving at the overall market size through bottom-up approach, the autonomous truck market was split into several segments and subsegments. Where applicable, the data triangulation procedure was employed to complete the overall market engineering process and arrive at the exact market value for key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand- and supply-side participants.

Market Definition

Autonomous trucks market: Autonomous truck technology requires human intervention to control the vehicle while simultaneously using some of the advanced technologies such as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Keep Assist (LKA), Intelligent Park Assist (IPA), Blind Spot Detection (BSD), Traffic Jam Assist (TJA) and highway pilot to reduce the effort required to maneuver the bus. Autonomous (self-driving) bus technology runs an artificial intelligence program that controls the entire bus without human intervention.

Autonomous truck technology requires human intervention to control the vehicle while simultaneously using some advanced technologies such as Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Lane Assist (LA), Intelligent Park Assist (IPA), Blind Spot Detection (BSD), Traffic Jam Assist (TJA) and highway pilot to reduce the effort required to maneuver the truck. Autonomous (self-driving) truck technology runs an artificial intelligence program that controls the entire truck without human intervention.

Key Stakeholders

  • Automobile Original Equipment Manufacturers (OEMs)
  • Automotive Insurance Providers
  • Automobile Industry (End-use Industry and Regional Automobile Associations)
  • Cybersecurity Providers for Autonomous Trucks
  • Legal and Regulatory Authorities
  • Manufacturers of Autonomous Trucks
  • Manufacturers of Autonomous Truck Components
  • Raw Material Suppliers
  • Sensor Manufacturers
  • Software Providers
  • Traders, Distributors, and Suppliers

Report Objectives

  • To segment and forecast the size of the autonomous trucks market in terms of volume (thousand units) and value (USD million)
  • To define, describe, and forecast the size of the autonomous trucks market based on ADAS feature, Application, Vehicle type, Level of Autonomy, Vehicle class, Propulsion type, Sensor type, and region
  • To analyze regional markets for growth trends, prospects, and their contribution to the overall market
    • To provide qualitative insights on the market based on ADAS features [(Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Lane Keep Assist (LKA), Intelligent Park Assist (IPA), Traffic Jam Assist (TJA), Highway Pilot (HP)]
    • To segment and forecast the market size, by vehicle type (Buses and Trucks)
    • To segment and forecast the market size, by vehicle class [Class1-Class3, Class4-Class6, and Class7-Class8]
    • To segment and forecast the market size, by Application (Last-mile Delivery Trucks, Mining Trucks, Shuttles, and Intercity/Intracity Buses)
    • To segment and forecast the market size, by Level of Autonomy (L1, L2 and L3, L4, and L5)
    • To segment and forecast the market size, by propulsion type (Diesel, Electric, and Hybrid)
    • To segment and forecast the market size, by sensor type (Cameras, Radars sensors, LiDAR, and Ultrasonic sensors)
    • To forecast the market size by region [North America, Europe, Asia Pacific, and Rest of the World (RoW)]
  • To analyze technological developments impacting the market
  • To provide detailed information about the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze the market, considering individual growth trends, prospects, and contributions to the total market
  • To study the following concerning the market
    • Value Chain Analysis
    • Ecosystem Analysis
    • Technology Analysis
    • HS Code
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
    • Key Stakeholders and Buying Criteria
    • Key Conferences and Events
  • To estimate the following with respect to the autonomous trucks market:
    • Pricing Analysis
      • Key Players, By Vehicle Type
      • By Region
    • Market Ranking Analysis
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies
  • To analyze the impact of the recession on the market
  • To track and analyze competitive developments such as deals, product developments, expansion, and other activities carried out by key industry participants

Available Customizations

  • Autonomous trucks market, by propulsion type at the country level (for countries not covered in the report
  • Autonomous trucks market, by sensor type at the country level (for countries not covered in the report

Company Information:

  • Profiling of additional market players (Up to 10)

Previous Versions of this Report

Semi-Autonomous & Autonomous Trucks and Buses Market by LoA (L1, L2/ L3, L4 & L5), Vehicle Type, Propulsion (Diesel, Electric, Hybrid), ADAS Features, Vehicle Class, Application, Sensor Type, and Region - Global Forecast to 2035

Report Code AT 7660
Published in May, 2020, By MarketsandMarkets™
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