Global Truck Platooning Market to reach USD 91.6 million by 2025 | CAGR: 35.01%

Global Truck Platooning Market is valued USD 148.33 billion in 2016 is anticipated to grow USD 91.6 million with the compounded annual growth of 35.01% over the forecast period 2017-2025.

New York 15 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Truck Platooning market industry is poised to raise USD 91.6 million by 2025. The major factors speculated to restrain the markets are Insufficient amount of infrastructure, unreasonably elevated prices of hardware & technologies, and dubiety over regulations & legislative environment. concern over data privacy and cyber security regulations and gaining user/public acceptance are few of the chief challenges of the market. Truck Platooning consists of several trucks furnished with state-of-the-art driving support systems – one closely following the other. This forms a platoon with the trucks driven by smart technology and communicating with each other. Global Truck Platooning Market is segmented into Type, Systems, Sensors and Services. The Image Sensors subsegment is forecasted to grow with the highest CAGR in the sensor type segment. Whereas, Adaptive Cruise Control (ACC) is speculated to remain dominant in the systems segment.

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Global Truck Platooning Market Size Study By Type (Autonomous, Driver Assistive), By Systems (Lane Keep Assist, Blind Spot Warning, Adaptive Cruise Control, Global Positioning System, Automated Emergency Braking, Forward Collision Warning, Human Machine Interface), By Sensors, By Services (Telematics-Based, Platooning-Based) and By Regional Forecasts, 2017-2025

The industry is seeming to be fairly competitive. Some of the leading market players include Tomtom, Volvo, Scania, Daimler, Bosch, Wabco, Continental, ZF, Nvidia, Omnitracs, Intel, Peloton, Trimble, Toyota Tsusho, Otto, Man, Cargox, Hino Motors, Telefonica, Paccar, Navistar International Corp., and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.

Key findings of the study:

  • North America region accounted for the leading market share, more than 21% of the total market in 2016.
  • Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by almost over 35.8% CAGR over the forecast period 2018-2025.
  • Image Sensors subsegment is forecasted to grow with the highest CAGR in Sensors segment
  • Adaptive Cruise Control (ACC) is speculated to remain dominant in the systems segment

Bizwit Research & Consulting LLP has considered following segments for the study:

By Type:

  • Autonomous Truck Platooning
  • Driver Assistive Truck Platooning (DATP)

By Systems:

  • Lane Keep Assist (LKA)
  • Blind Spot Warning (BSW)
  • Adaptive Cruise Control (ACC)
  • Global Positioning System (GPS)
  • Automated Emergency Braking (AEB)
  • Forward Collision Warning (FCW)
  • Human Machine Interface (HMI)
  • Others

By Sensors:

  • Image
  • LiDAR
  • Radar

By Services:

  • Platooning-Based
    • Match Making
    • Financial Transaction
    • Pricing
  • Telematics-Based
    • On-road Assistance
    • Automatic Crash Notification
    • Navigation & Infotainment
    • Vehicle Tracking
    • Emergency Calling
    • Remote Diagnostics

Regional Outlook:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

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