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Autonomous Truck Market Trends

Report ID: GMI5238
Published Date: Aug 2023
Report Format: PDF

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Autonomous Truck Market Trends

Autonomous trucks leverage cutting-edge artificial intelligence & sensor technologies to navigate roads, interpret traffic conditions, and make real-time decisions without human intervention. This autonomy enables them to operate continuously, efficiently transporting goods over long distances and managing complex logistical routes. By reducing dependence on human drivers, businesses can ensure seamless operations round the clock, resulting in enhanced productivity & reduced delivery times.

Moreover, the incorporation of autonomous trucks into fleets can lead to significant cost savings. These vehicles can be programmed to drive efficiently, optimizing routes, minimizing idle times & adopting eco-friendly driving patterns. These features ultimately reduce fuel consumption and operational expenses, thereby propelling product adoption.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of autonomous truck reached USD 301.2 billion in 2022 and is set to record 15% CAGR from 2023 to 2032, due to the surging demand for increased efficiency and cost-effectiveness in the transportation & logistics industry.

The freight transport application segment recorded over 25% of the market share in 2022, driven by the ever-increasing need for faster, more efficient, and reliable delivery services. ?

North America market size held over USD 55.1 billion 2022, owing to the strong focus on research & development and the significant investments in autonomous technology.

Scania, Daimler Truck, TuSimple, Inc., Hino Trucks, Waymo (Alphabet Inc.), Tesla, AB Volvo, PACCAR Inc, Navistar, Inc., Embark Trucks, Inc., PlusAI, Inc. and Kodiak Robotics are some of the prominent autonomous truck companies.