Automated Trucks Market Overview and Trends:
Automated Trucks market is estimated at USD 1.2 Billion in 2018 and is expected to expand at a CAGR of 3.5% to USD 2.1 Billion by 2024.
Automated trucks, also known as self-driving trucks, are one of AI miracles. These trucks use artificial intelligence (AI) software, Light Detection & Scope (LiDAR) and RADAR sensing technology, which is used to monitor the scope of 60 meters of the vehicle and to create a precise 3D map of the current environment. The car was designed to work between destinations without a human operator. We use sensors and software to track, control and run the vehicle.
Amid a sea full of innovations driving top-of-the-line technology in the automotive industry, automated trucks are overtaking and speeding up to rapid adoption in end-use industries. The trend of electrically driven vehicles has turned the automated truck arena green, making it easier for manufacturers to move past the environmental barriers.
Recently, Daimler, a multinational automaker, has acquired Torc Robotics, an American independent vehicle company to integrate autonomous vehicle technology. Torc robotics has a collaboration with Caterpillar, an American manufacturer and supplier of engines, machinery and other equipment for the production of self-driving technology for mining and agricultural applications.
On April 2019, the California government announced a regulation introduced by the State Department of Motor Vehicles that would require the testing of self-driving trucks on public roads.
Drivers and Restraints of Automated Trucks Market:
By End-Use Industry:
Based on the End-Use, Automated Trucks market is segmented into, Mining, Logistics, Construction and Ports. The growing digital shopping behaviour of consumers has increased the appetite for streamlined logistics among fleet management companies seeking reduced operating costs. As such, the logistics industry is at the forefront of the automated truck take-up curve. The mining industry is likely to remain an attractive end-use industry by 2019, as mining companies are deliberating on efforts to improve their production capacity to meet the growing demand for minerals from manufacturing sectors. After 2019, e-Commerce platforms are rising rapidly, and their need for logistics is likely to reduce the market share of the mining industry in terms of volume.
By the Level of Automation:
Based on the Level of Automation, the Automated Trucks market is segmented into, Level-3, Level-4, Level-5.
Level-3: Driver is still required, but if specific criteria are met, it is not necessary to navigate or monitor the area. Nevertheless, the driver must remain ready to resume control of the vehicle once the conditions for the ADS have ceased to be met.
Level-4: The vehicle can perform all driving functions and does not allow the driver to remain ready for navigation. Moreover, under certain conditions, such as off-road driving or other forms of abnormal or dangerous situations, the accuracy of ADS navigation may be compromised. The driver may be able to control the vehicle.
Level-5: The ADS system is sophisticated enough to allow the vehicle to perform all driving functions, regardless of the conditions.
Level 5 automated trucks remain highly favoured in the mining industry as they operate without any driver assistance and operate with the aid of cloud data and artificial intelligence. However, automated Level 3 trucks will exceed the level 5 acceptance rate of automated vehicles and account for ~40 per cent of the total market share at the end of the forecast period, as they form an integral part of automated trucks. In contrast, the high cost of Level 5 automated trucks would redirect sales to Level 3 trucks.
Automated Trucks Region wise analysis:
Based in region, Automated Trucks can be segmented into:
Geographically, Asia Pacific is likely to remain a key automated truck market, as demand for automated trucks for mining activities has increased in Australia, and improved road infrastructure is likely to bump up their sales to the logistics industry as well. In addition, the lack of drivers in developed regions, such as the United States and Japan, would remain a major opportunity for automated trucks to enter these regions.
Key Players of Market:
Some of the key players of the Global Automated Trucks market include BMW AG, Otto motors, Isuzu Motors Limited, General Motors, Daimler AG, AB Volvo, Tesla, Toyota, Waymo, and Volkswagen.
Global Automated Trucks Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Level Of Automation
5.1.5 Y-o-Y Growth Analysis
5.1.6 Market Attractiveness Analysis
5.1.7 Market Share Analysis
5.2 By End-Use
5.2.3 Logistics and Construction
5.2.5 Y-o-Y Growth Analysis
5.2.6 Market Attractiveness Analysis
5.2.7 Market Share Analysis
5.3 By Truck Type
5.3.2 Cab Integrated
5.3.3 Cabless Trucks
5.3.4 Y-o-Y Growth Analysis
5.3.5 Market Attractiveness Analysis
5.3.6 Market Share Analysis
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Level of Automatomation
18.104.22.168 By End-Use
22.214.171.124 By Truck Type
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Level of Automatomation
184.108.40.206 By End-Use
220.127.116.11 By Truck Type
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Level of Automatomation
126.96.36.199 By End-Use
188.8.131.52 By Truck Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 BMW Ag
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Otto motors
8.3 Isuzu Motors
8.4 General Motors
8.6 AB Volvo
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures