The global self-driving market size is expected to be valued at $1,004 million in 2020 and is projected to reach the market size of $1,669 million by 2025, registering a CAGR of 10.4% from 2020 to 2025. In 2017, North America is expected to account for the highest share in the global self-driving truck market.
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Government of various states are allowing the testing of the autonomous trucks on the public roads which in turn is anticipated to boost the growth of self-driving truck market. For instance, On April 2019, a rule proposed by state’s Department of Motor Vehicles was announced by the government of California, which will allow the testing of self-driving trucks on the public roads. According to the rule trucks weighing less than 10,001 pounds which are Class 1 and Class 2 trucks, are allowed for testing. All the other vehicle from Class 3 to Class 8 such as semi-trucks, buses, heavy-duty construction vehicles, and others are not included under this permitting system.
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BMW AG, Isuzu Motors Limited, General Motors, Otto motors, AB Volvo, Daimler AG, Tesla, Waymo, Toyota, and Volkswagen are some of the key players operating in the global self-driving truck market.
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Various technologies such as self-driving trucks are being introduced in the market that support the eco-friendly concept to sustain the environment, owing to rise in concerns of environment degradation and depletion of natural resources. Moreover, increase in awareness towards the consequences of air pollution and rise in traffic congestion drive the adoption of self-driven trucks, as they are fuel efficient and use significantly less gas & energy while driving as compared to conventional vehicles.
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Key Benefits for Self-driving Truck Market:
- This study comprises analytical depiction of the global self-driving truck market with current trends and future estimations to portray the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current self-driving truck market is quantitatively analyzed from 2020 to 2025 to highlight the financial competency of the market.
- Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the industry.
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