According to a recent report published by Allied Market Research, titled "Self-Driving Truck Market by Level of Autonomy and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2025", the global self-driving truck market was valued at $1,004 million in 2020, and is projected to reach at $1,669 million by 2025, growing at a CAGR of 10.4% from 2020 to 2025.
At present, North America dominates this market. In 2020, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in Europe in 2020. In the same year, the U.S. is estimated to dominate the North American market.
The global self-driving truck market is projected to register significant growth during the forecast period attributed to rise in environmental concern and increase in number of road accidents. However, threat of hackers and rise in cybercrime restrict the growth of the market.
In 2020, based on level of autonomy, the level one segment is anticipated to dominate the global self-driving truck market, in terms of revenue. However, based on industry vertical, construction and manufacturing is projected to dominate the global market in the same year.
Key Findings of the Self-Driving Truck Market:
- Level one is expected to generate the highest revenue in 2020.
- In 2020, the construction & manufacturing segment is projected to account the highest revenue in the self-driving truck market.
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
The key players profiled in the report include BMW AG, Isuzu Motors Limited, General Motors, Otto motors, AB Volvo, Daimler AG, Tesla, Waymo, Toyota, and Volkswagen.