Market Growth
Global Truck Platooning Market is growing rapidly and will experience a CAGR of 41% during outlook period. In 2021, the expected market size would be USD 37.6 millions. When two or more vehicles go through different ways, this service is used for connecting them internet and automated technology for road safety and security concern saving fuel efficiency rate. Also, the consumer wants to reduce operational cost of the transportation factors, triggering the market growth. Truck platooning service makes new changes in transportation sectors so government gives the new opportunities for the market. Governments make initiative and rules and regulation, which give the boost to the market of truck platooning. The main reason of growing market is the truck platooning system that provides the quick reaction and avoid the accidents or other things. Currently increasing high investment from different regions and there countries for making platooning truck give new opportunities in front of the world to the market. Also, increasing concern about the road safety and security, for that trying to save cost for transportation operations. These factors are supporting the Global Truck Platooning Market. 4-5% fuel saving policy rather than 7-9% fuel saving policies from other services of truck is accepted by the consumers. According to different regions, increasing adoption of IoT and different technology gives boost to the Global Truck Platooning Market.
Recent Developments
In Jun 2018, two most popular industries in vehicle manufacturing, the Volvo Group and FedEx made project with Carolina Turn Pike Authority on successful demonstration of Truck Platooning services.
In Dec 2017, Pelotone, the big and leading industry of US, worked on project of driver assistive truck Platooning technology in Florida.
Drivers
In the Global Truck Platooning Market, some factors are playing a vital role in driving the market throughout the forecast period. The increasing demand and concern about road safety and security give the opportunity in market growth of truck platooning. Also, every transportation company wants to reduce the operation transportation cost for this purpose increased a demand for the market. But some are really important factors which help in growth of market and drive the whole market forward. Government also support to the truck platooning because of the safety and security reasons, so all countries trying to the make new market for the platooning.
The rising government rules for emission reduction in transportation and vehicles drive the global truck platooning market. Before platooning, vehicles used to consume 7-9% more fuel for the transportation and traveling but after the introduction of truck platooning, the consumption of fuel reduced to 4-5%. Also some new application such as Adaptive Cruise Control, LKA- Lane keep Assist, ADAS- Advance Driver Assistance System make new changes in the market of truck platooning and this all components of market drive the Global Truck Platooning Market.
Restraints
In all over the world, every nation wants to adapt new technology but some countries are underdeveloped and week in economies. In Truck Platooning Market, the high amount of cost of hardware and technology needed for platooning are not affordable.
Also, not strong restriction on rules and regulations of road safety and security in some countries, truck platooning market is likely to be disturbed. The acceptance of drivers, transporters and other users on the road are some restrains in the global truck platooning market.
Market Segmentation
The Global Truck Platooning Market is segmented by several techniques such as-
By Platooning Type, the market is divided into two parts such as autonomous truck platooning and DATP. In this segment, DATP has major market share and demand in the global Truck Platooning Market. With the highest revenue it dominated whole platooning type segments.
By System, the market is segmented by several major parts such as a ACC-Adaptive cruise Control, AEB–Automatics Emergency breaking system, BSW-Blind spot Waning, FCW-Forward Collision Warning, GPS- Global positioning system etc. Of these, the ACC maintained high revenue and high growth market. It maintains distance between two vehicles during travelling and transportation.
By Sensor type, the market is divided into 3 parts. first is Image, second is Radar and third is Lidar. Of these, the image sensor type market is expected to have a market share during forecast periods. It is providing accurate image for truck platooning services and it will help to consumers.
By Service, in which Telematics Services is first part, which is divided into automatic crash notification, emergency calling, navigation and infotainment, on road assistance, remote diagnostic and vehicle tracing. The second part is platooning-based services, it divided into three parts such as pricing, financial transaction, and match making. In this sector, the telematics services accounted for a major market share.
By Region, the global truck platooning market is segmented into North America, Europe, APAC, Middle East and South Africa and Row. In North America the high investment is seen in Platooning Market, and it dominated all over market due to high adoption of technology in this countries. Europe also demonstrates different activities towards the truck platooning and acquire big revenue and market share. 25% of the 1.5 million trucks in Europe engages in truck Platooning. APAC is also starting to invest in Truck Platooning Market. Japan and Singapore started launching the new trend truck platooning services in the local market.
Leading company
Pelotone and Diameler AG are the two industries that dominated the whole Truck Platooning Market globally.
Key players
The truck platooning market is majorly dominated by Peloton Technology, Daimler AG, Volvo Group, Scania AB, Continental AG, and DAF Trucks (Paccar Company), among others.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Truck Platooning Market, By Platooning Type
6.1.1 Autonomous Truck Platooning
6.1.2 DATP
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Truck Platooning Market, By System Type
6.2.1 Adaptive Cruise Control
6.2.2 Automated Emergency Breaking
6.2.3 Blind Spot Warning
6.2.4 Forward Collision Warning
6.2.5 Global Positioning System
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Truck Platooning Market, By Service
6.3.1 Telematics Services
6.3.2 Automatic Crash Notification
6.3.3 Emergency Calling
6.3.4 Navigation And Infotainment
6.3.5 On-Road Assistance
6.3.6 Remote Diagnostic and Vehicle Tracing
6.3.7 Pricing
6.3.8 Financial Transaction
6.3.9 Match Making
6.3.10 Market Size Estimations & Forecasts (2019-2024)
6.3.11 Y-o-Y Growth Rate Analysis
6.3.12 Market Attractiveness Index
6.4 Truck Platooning Market, By Sensor Type
6.4.1 Image
6.4.2 Radar
6.4.3 LiDAR
6.4.4 Market Size Estimations & Forecasts (2019-2024)
6.4.5 Y-o-Y Growth Rate Analysis
6.4.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Platooning Type
7.2.3 By System Type
7.2.4 By Service
7.2.5 By Sensor Type
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Platooning Type
7.3.3 By System Type
7.3.4 By Service
7.3.5 By Sensor Type
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Platooning Type
7.4.3 By System Type
7.4.4 By Service
7.4.5 By Sensor Type
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Platooning Type
7.5.3 By System Type
7.5.4 By Service
7.5.5 By Sensor Type
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Platooning Type
7.6.3 By System Type
7.6.4 By Service
7.6.5 By Sensor Type
8. Key Player Analysis
8.1 Peloton Technology
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Daimler AG
8.3 Volvo Group
8.4 Scania AB
8.5 Continental AG
8.6 DAF Trucks
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
