Self-driving truck is also known as autonomous truck and robotic truck. These trucks feature all the major competencies of traditional trucks. The self-driving system uses infrared radars, LIDAR (laser radar), cameras, sophisticated motion sensors, incredibly accurate sensors, and complex algorithms among others that allow the truck to drive itself. In addition, the self-driving truck market is anticipated to exhibit remarkable growth during the market forecast period. Furthermore, decongestion of traffic is a remarkable self-driving truck market opportunity.
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Segment overview
The report segments the self-driving truck market analysis based on level of autonomy, industry vertical, and region. Based on level of autonomy, the market is divided into level one, two, three, and four. Based on industry vertical, the market is classified into logistics, construction & manufacturing, mining, and port. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Increase in number of road accidents
Increase in number of road accident globally due to several factors such as drink and drive, speed, distraction, and others create demand for self-driving truck industry. Further, the truck is expected to limit the road accident owing to its features such as following speed limits, adjusting the speed all the times, and taking over the steering. According to National Highway Transportation Safety Administration, in 2015- 35,092 people crashes on the U.S. roadways increase from 32,744 in 2014. Hence, rise in number of road accidents majorly drives the market globally. Thus, increase in number of road accidents will propel the growth of self-driving truck market.
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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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Rise in environmental concerns
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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