Dublin, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The "Autonomous Commercial Vehicle Market Research Report: By Vehicle Autonomy, Vehicle Type, Fuel Type, Application - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global autonomous commercial vehicle market is expected to progress at an 8.2% CAGR during the forecast period
The major cause of road accidents is human error, since drivers often fail to pay attention properly, drive vehicles at inappropriate speed, and fail to keep safe distance from vehicles moving in front. It is ascribed to such factors that the need for enhancing safety on roads and requirement for safer and more efficient driving option has been surging rapidly across the globe.
This, in turn, is resulting in the growth of the autonomous commercial vehicle market, since the autonomous technology offers safer performance. In addition to this, the evolution in connecting vehicle technologies has also been leading to the growing demand for autonomous commercial vehicles. It is much easier to integrate autonomous technologies in connected vehicles as compared to traditional vehicles. Connected cars are being equipped with vehicle-to-interface and vehicle-to-vehicle connectivity, which are the key requirements for achieving autonomy of vehicles. This rising digitization in the industry is expected to result in the growth of the domain.
Number of investments are being made for developing autonomous commercial vehicles, which is predicted to further the growth of the market. For example, Volkswagen AG made an announcement regarding investing $34 billion research & development of autonomous technologies in 2018. Similarly, the French government invested more than $45 million in 2018 for boosting the development of autonomous vehicle technology. Governments of several other countries are also investing extensively for developing autonomous driving technologies, which is expected to result in the growth of the market in the years to come.
In terms of vehicle autonomy, the market is bifurcated into semi-autonomous and fully-autonomous. Between which, the semi-autonomous bifurcation held the major share of the market in 2019. For achieving level 1 automation, vehicle needs to be equipped with at least one of the advanced driver assistance system (ADAS) features or electronics stability control. Furthermore, countries in Europe and the U.S. have mandated the installation of basic ADAS features in new commercial vehicles, thereby making them semi-autonomous.
Geographically, North America dominated the global autonomous commercial vehicle market in the past, as per a the publisher report. The demand for the technology is further expected to be the highest in the region during the forecast period. The rising research & development activities and increasing support from state and federal governments for the evolution of autonomous driving technologies are resulting in the growth of the regional market. The Asia-Pacific region is projected to exhibit the highest CAGR during the forecast period, due to the fact that the region is the largest automobile manufacturing industry across the globe.
In conclusion, the demand for autonomous commercial vehicles is growing due to the surging need for enhancing safety on roads, advancements in connected technologies, and heavy investments.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle Autonomy
4.1.1.1 Semi-autonomous
4.1.1.1.1 Level 1
4.1.1.1.2 Level 2
4.1.1.1.3 Level 3
4.1.1.2 Fully autonomous
4.1.1.2.1 Level 4
4.1.1.2.2 Level 5
4.1.2 By Vehicle Type
4.1.2.1 Truck
4.1.2.1.1 LDT
4.1.2.1.2 MHDT
4.1.2.2 Bus
4.1.3 By Fuel Type
4.1.3.1 Conventional fuel
4.1.3.2 Alternative fuel
4.1.4 By Application
4.1.4.1 Logistics
4.1.4.2 Public Transportation
4.1.4.3 Construction
4.1.4.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Increasing investments
4.3.1.2 Emergence of autonomous truck startups
4.3.1.3 Integration of AI in autonomous commercial vehicles
4.3.2 Drivers
4.3.2.1 Evolution in connected vehicle technologies
4.3.2.2 Need for an efficient and safe driving option
4.3.2.3 Government support towards deployment of autonomous commercial vehicles
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Vulnerability to hacking and other cyber attacks
4.3.3.2 Higher cost of manufacturing
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Robotic assistance for the purpose of delivery
4.4 Porter's Five Forces Analysis
Chapter 5. COVID-19 Impact on the Global Autonomous Commercial Vehicle Market
Chapter 6. Pilot Projects and Testing
Chapter 7. Application of Autonomous Trucks in Logistics Operations
7.1 Overview
7.2 Application of Autonomous Technology in Logistics
7.2.1 Truck Platooning
7.2.2 Assisted Highway Trucking
7.2.3 Last-Mile Delivery
7.2.4 Access to Data Analytics
7.2.5 Planning Smart Routes
Chapter 8. Policy and Regulatory Landscape
Chapter 9. Global Market Size and Forecast
9.1 By Vehicle Autonomy
9.2 By Vehicle Type
9.3 By Fuel Type
9.4 By Application
9.5 By Region
Chapter 10. North America Market Size and Forecast
Chapter 11. Europe Market Size and Forecast
Chapter 12. APAC Market Size and Forecast
Chapter 13. LAMEA Market Size and Forecast
Chapter 14. Competitive Landscape
14.1 List of Players and Their Offerings
14.2 Market Share Analysis of Key Players
14.3 Comparison of Key Players
14.4 Strategic Developments in the Market
Chapter 15. Company Profiles of Established Players
15.1 Ford Motor Co.
15.2 General Motors Co.
15.3 Fiat Chrysler Automobiles N.V.
15.4 Toyota Motor Corporation
15.5 Renault-Nissan-Mitsubishi Alliance
Chapter 16. Company Profiles of New Entrants
16.1 TuSimple Inc.
16.2 Embark Trucks Inc.
16.3 Kodiak Robotics Inc.
16.4 Inceptio Technology (Shanghai) Co. Ltd.
16.5 Einride AB
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