With the emergence and long-term Impact of COVID-19, Global Autonomous Trucks Market to reach USD xx Billion by 2029
Bizwit Research & Consulting LLP’s recent analysis on the Global Autonomous Trucks Market points towards a potential rise to USD xx Billion by 2029. Autonomous Trucks are self-driving trucks with the ability to operate without any human intervention. It includes advanced technological features such as tracking, safety and security applications, real-time computer systems, etc. The Autonomous Trucks market is expanding because of factors such as the rising demand for road safety and traffic control and the capability of autonomous trucks to alleviate the truck driver shortage.
Geographically, the global Autonomous Trucks market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in terms of revenue generation, owing to the increasing technological advancement entering the autonomous driving segment, and the growing electrification of vehicles due to infrastructure development by market players. Whereas, North America is also expected to grow significantly during the forecast period, owing to factors such as increasing government regulation and public awareness of safety concerns.
The global Autonomous Trucks market is highly competitive owing to the presence of several key manufacturers such as AB Volvo, Mercedes Benz Group, Traton SE, TuSimple, Fabu Technology, Tesla Inc, Paccar Inc, BYD Co. Ltd., Einride, Embark and others.
Global Autonomous Trucks Market Size study & Forecast, by Components (Hardware and Software), Sensor Type (LiDAR, Image, Radar, Ultrasonic and Others), Technology (Semi-Automated Trucks and Fully Automated Trucks) and Regional Analysis, 2022-2029
Key findings of the study suggest:
- Global Autonomous Trucks Market is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2022-2029.
- In the Technology segment, Semi-Automated Trucks emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing focus on research & development, combined with significant investments in autonomous technology in the region.
- North America is also expected to grow at higher rate during 2022-2029 owing to increasing adoption of AI in automotive, sensor technology, and data analytics in the region.
Bizwit Research & Consulting has considered following segments for the study:
- Semi-Automated Trucks
- Fully Automated Trucks
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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