According to the latest report by IMARC Group, “Global Truck Platooning Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global truck platooning market reached a value of US$ 1.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.66 Billion by 2027, exhibiting a CAGR of 30.20% during 2022-2027.
Truck platooning includes linking of numerous trucks in convoy through the usage of modern technologies. It usually uses vehicle-to-vehicle (V2V) communication sensors and radar technologies to keep the trucks closely distant. The application of these systems assists in diminishing greenhouse gas (GHG) emissions and fuel utilization while enhancing the overall safety of automobiles. Truck platooning also organizes various processes for maintaining a structured transportation system, consequently reducing traffic congestion.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The market is primarily driven by technological developments and the increasing adoption of automated technologies. Additionally, the integration of automated driving assistance systems (ADAS) with trucks and the rising environmental consideration among individuals is also propelling the market growth. Besides, there has been implementation of traffic safety norms due to the rising instances of road accidents.
This has increased the adoption of truck platooning, whichaids in preventing accidents caused by driver errors. Furthermore, the rising number of infrastructural projects and the continuous enhancement in commercial operations across the logistics sector is catalyzing the market growth.
Moreover, the evolution of autonomous and semi-autonomous trucks that aid in lowering transportation costs and enhancing supply chain efficiency is escalating the product demand. Some of the other growth-inducing factors include rapid industrialization and digitalization, extensive research and development (R&D) activities and the rising investments by public and private firms in product innovation.
Global Truck Platooning Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AB Volvo, Aptiv PLC, Continental Aktiengesellschaft, DAF Trucks N.V. (PACCAR Inc.), Hino Motors Ltd. (Toyota Motor Corporation), Intel Corporation, Iveco Group N.V., Knorr-Bremse Aktiengesellschaft (Kb Holding GmbH), Peloton Technology, Robert Bosch GmbH, Scania AB (Traton SE) and ZF Friedrichshafen AG (Zeppelin-Stiftung).
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The report has segmented the market on the basis of region, platooning type, communication technology, technology, services and sensor type.
Breakup by Platooning Type:
• Driver-Assistive Tuck Platooning (DATP)
• Autonomous Truck Platooning
Breakup by Communication Technology:
• Vehicle-To-Infrastructure (V2I)
• Vehicle-To-Vehicle (V2V)
• Vehicle-To-Everything (V2X)
Breakup by Technology:
• Adaptive Cruise Control (ACC)
• Blind Spot Warning (BSW)
• Global Positioning System (GPS)
• Forward Collision Warning (FCW)
• Lane Keep Assist (LKA)
• Others
Breakup by Services:
• Telematics-Based Services
o Automatic Crash Notification
o Emergency Calling
o Navigation and Infotainment
o On-Road Assistance
o Remote Diagnostics
o Vehicle Tracking
• Platooning-Based Services
o Pricing
o Financial Transaction
o Match Making
Breakup by Sensor Type:
• Image Sensor
• Radar Sensor
• LiDAR Sensor
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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