The global self-driving truck market revenue was around US$ 11 billion in 2022 and is estimated to reach US$ 30.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.1% during the forecast period from 2023 to 2031.
Self-driving truck refers to an autonomous truck that can drive itself through a combination of hardware & software installed and mounted on it. The trucks can sense their environment and navigate accordingly due to the cutting-edge technology installed within them. Additionally, they can detect road signs, pedestrians, and other vehicles and make real-time decisions to provide safe and efficient movement of the vehicle, surroundings, and passengers.
Market Driving Factors
The growth of connected infrastructure drives the market growth. Global transport infrastructure is changing swiftly due to the expanding use of the Internet of Things (IoT). In addition, companies such as IBM and Cisco have developed digital platforms, which can automate traffic and street lights, optimize waste pickup, and augment surveillance. For instance, the installation of IoT sensors in the streets of Las Vegas has helped control traffic congestion and solve environmental issues. Furthermore, connected infrastructure includes toll booths, vehicle parking, smart streets, and traffic lights. Therefore, the growth of connected infrastructure creates favorable conditions for the adoption of self-driving trucks.
The development of intelligent transport systems boosts market growth. Intelligent transportation systems (ITS) were devised in response to the increase in requirements for services related to several modes of transportation and traffic management. The ITS allows users to be sufficiently informed and to utilize the transportation network more smartly, safer, and more coordinated. In addition, the technologies utilized in intelligent transportation systems range from basic management systems such as traffic signal control systems, vehicle navigation, variable message signs, container management systems, automatic number plate recognition, or speed cameras, to monitoring applications of automatic incident detection or controlled vehicle detection systems.
Privacy and security issues with information access from the operating software hamper the market growth.
Regional Analysis
North America dominated the market. This can be attributed to the amendments in traffic regulations in the U.S. to incorporate self-driving cars on public roads. The regulation is slowly being adopted across all the states of the United States to create transportation fully autonomous. For instance, the U.S. Department of Transportation (USDOT) developed the automated vehicles complete plan in collaboration with a wide coalition of academic, state, industry, advocacy, local, and transportation stakeholders to support the secure development, integration, and testing of automated vehicle technologies. Such modern regulatory surroundings & supportive government rules are responsible for the market growth in the region.
Segmentation Insights
Level of Automation Insight
The level 1 segment dominates the market, there is a growing demand for pickup trucks with semi-autonomous driving capabilities including lane departure warning and rudimentary parking assistance. Furthermore, truck-related deaths have continued to increase, specifically in China, Europe, and India, which surged the adoption of level 1 self-driving trucks. Therefore, these elements boost the segment growth.
Propulsion Type Insight
The electric transmission segment dominates the market. This is due to the there is increasing interest and development in electric driving for self-driving trucks, especially for last-mile or short-haul delivery applications in urban areas. Thus, each driver type has disadvantages and advantages regarding efficiency, environmental impact, and operating price, which may influence the adoption of safe-driving trucks in various applications and regions.
The internal combustion segment is estimated to dominate the market. Long-haul truckers will choose diesel trucks with internal combustion engines because electric trucks have a shorter battery life. Furthermore, it is anticipated that the range extension of electric trucks will be gradual due to current power density increases and battery costs.
Prominent Companies
Segmentation Outline
The global self-driving truck market segmentation focuses on Component, Application, Level of Automation, Propulsion Type, and Region.
By Component
By Application
By Level of Automation
By Propulsion Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SELF-DRIVING TRUCK MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SELF-DRIVING TRUCK MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SELF-DRIVING TRUCK MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SELF-DRIVING TRUCK MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
5.4 SERVICES
6 GLOBAL SELF-DRIVING TRUCK MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 LOGISTICS AND TRANSPORTATION
6.3 CONSTRUCTION AND MANUFACTURING
6.4 MINING
6.5 PORT
6.6 OTHERS
7 GLOBAL SELF-DRIVING TRUCK MARKET, BY LEVEL OF AUTOMATION
7.1 OVERVIEW
7.2 LEVEL 1
7.3 LEVEL 2
7.4 LEVEL 3
7.5 LEVEL 4
7.6 LEVEL 5
8 GLOBAL SELF-DRIVING TRUCK MARKET, BY PROPULSION TYPE
8.1 OVERVIEW
8.2 INTERNAL COMBUSTION
8.3 HYBRID TRANSMISSION
8.4 ELECTRIC TRANSMISSION
9 GLOBAL SELF-DRIVING TRUCK MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL SELF-DRIVING TRUCK MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 JILUO TECHNOLOGY CO LTD
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 TUSIMPLE
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 EINRIDE
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 EMBARK TRUCKS INC
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 PLUSAI INC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 WAABI
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 TORC ROBOTICS
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. AURORA INNOVATION INC
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 KODIAK ROBOTICS INC
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 RRAI
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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