Autonomous Commercial Vehicle Market:WiseGuyReports.com adds “Global Autonomous Commercial Vehicle Market Research Report 2020 Analysis and Forecast 2030” reports to its database.Executive SummaryThe global autonomous commercial vehicle market is expected to decline from $7.57 billion in 2019 to $6.33 billion in 2020 at a compound annual growth rate (CAGR) of -16.35%.
The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and closure of industries and other commercial activities.
The entire supply chain has been disrupted, impacting the market negatively.
For instance, in March 2019, Daimler AG, a Germany-based multinational automotive corporation agreed to purchase majority stakes in Torc Robotics, a pioneer in autonomous driving, for an undisclosed amount.
This acquisition is expected to help Daimler AG to develop and create a technology powerhouse for autonomous vehicles.
Similarly, TuSimple announced partnership with ZF to co-develop cameras, LiDAR, radar, steering and automotive-grade central computer ZF ProAI and incorporate them to develop autonomous technologies.The autonomous commercial vehicles market covered in the report is segmented by vehicle into truck; trailer; bus; others.