Truck Platooning Market Size - By Component, By Vehicle, By Autonomous Level, By Communication Technology, Growth Forecast, 2025 – 2034

Key players in the market include AB Volvo, Bendix, Bosch, Continental, Daimler, NVIDIA, Omnitracs, Peloton, Scania, and ZF Friedrichshafen.

The U.S. market held 80% of the revenue share in 2024, driven by advancements in autonomous vehicle technologies, including AI algorithms, machine learning, and sensor innovations.

The market size of truck platooning reached USD 2.3 billion in 2024 and is set to grow at a 21.9% CAGR from 2025 to 2034, led by government support through research grants, incentives, and infrastructure development.

The hardware segment accounted for 46% of the market share in 2024, fueled by advancements in sensor technologies such as LiDAR, radar, cameras, and ultrasonic sensors, which enable communication and coordination among platooned trucks.