The Global Automated Truck Market is projected to reach USD 2.12 billion by 2028, growing at a CAGR of 17.4% during a forecast period.
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An automated truck is also known as a self-driving truck and robotic truck. The self-driving system uses infrared radars, LIDAR (laser radar), cameras, sophisticated motion sensors, incredibly accurate sensors, and complex algorithms among others that allow the truck to drive itself. Furthermore, the decongestion of traffic is a remarkable self-driving truck market opportunity. Governments of various states are allowing the testing of the autonomous trucks on the public roads which in turn is anticipated to boost the growth of the automated truck market. For instance, In April 2019, a rule proposed by the state’s Department of Motor Vehicles was announced by the government of California, which will allow the testing of self-driving trucks on the public roads. According to the rule trucks weighing less than 10,001 pounds which are Class 1 and Class 2 trucks, are allowed for testing. All other vehicles from Class 3 to Class 8 such as semi-trucks, buses, heavy-duty construction vehicles, and others are not included under this permitting system.
In addition, the leading truck manufacturers are acquiring robotics companies for developing technologies for autonomous trucks. For example, Daimler, a multinational automaker, purchased an independent American car business, Torc Robotics to integrate autonomous technology into the trucks. The self-driving trucks are fully electric and therefore use much less gas and energy than standard trucks. This, in turn, helps reduce pollution, which majorly drives the growth of the self-driving truck market size.
Moreover, increasing awareness of the effects of air pollution and increasing rates of traffic & noise exposure are driving the implementation of self-driven trucks and robotic trucks which will boost the growth of the automated truck market in near future. Also, a shortage in the availability of truck drivers will help the expansion of the automated truck market. These self-driving trucks are expected to limit the road accident owing to its features such as following speed limits, adjusting the speed all the times, and taking over the steering. According to the National Highway Transportation Safety Administration, in 2014, 32,744 people were involved in crashes on the U.S. roadways and the number increased to 35,092 in 2015. Thus, the increase in the number of road accidents is expected to increase the sale of self-driving trucks which will, in turn, propel the growth of the automated truck market.
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