Market to Grow to $4.3 Billion with North America Accounting for $2.4

Dublin, Nov. 10, 2021 (GLOBE NEWSWIRE) — The “Autonomous Trucks: Global Markets 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The global market for autonomous trucks should grow from $2.0 billion in 2021 to $4.3 billion by 2026, at a compound annual growth rate (CAGR) of 16.0% for the period of 2021-2026.

• The North American market for autonomous trucks should grow from $1.1 billion in 2021 to $2.4 billion by 2026, at a CAGR of 15.6% for the period of 2021-2026.

• The Asia-Pacific market for autonomous trucks should grow from $193.1 million in 2021 to $453.2 million by 2026, at a CAGR of 18.6% for the period of 2021-2026.

Report Scope

Taxonomy of the market with regard to autonomy level, component, truck type, end-use and geographic area was considered for this study. Using 2020 as the base year, the report provides estimated market data for the forecast period (2021-2026). Market values have been estimated based on total revenue of hardware, software and services (installation and maintenance) provider revenues.

The trucking industry has been developing with increased emphasis on productivity, maximum efficiency and profits. Technological advancements are also supported by environmental regulations and enhanced safety requirements propelling OEMs to increase R&D investments for the development of advanced trucks.

Alternative fuels, new materials, virtual reality simulators, advanced aerodynamic designs, increased efficiency engines, stability control systems, virtual dashboards, real-time GPS monitoring, efficient routing software and tire pressure monitoring are just a few of the rapidly increasing technologies in the trucking industry.

This report also focuses on the main drivers and challenges impacting the market, along with the vendor landscape. The report explores the competitive landscape and current trends in the autonomous truck market, concluding with an analysis of the autonomous truck vendor landscape and profiles of the major players operating in the global market.

Story continues

This study provides an overview of major market dynamics, market sizing at the global and regional level and key player information that helps companies streamline product offerings based on market demand. This will further assist decision making and strategy planning, identifying demand in countries/areas that will help manufacturers to sustain in the competitive environment.

The Report Includes

• Estimation of the market size and analyses of market trends, with data from 2020, estimates for 2021 to 2025, and projection of CAGR through 2026

• Quantification of autonomous trucks market based on truck type, level of autonomy, propulsion type, component, end-user, and region, and analysis of market drivers, restraints and other forces impacting the global market

• Coverage of evolving technologies and new technologically advanced systems such as automated braking systems, emergency lane assists systems, connectivity systems, and navigation systems,…