Report Code: CMI32475

Published Date: October 2023

Pages: 220+

Category: Technology

Report Snapshot

CAGR: 11.2%
15.4B
2022
17.7B
2023
38.6B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Waymo LLC
  • TuSimple Holdings Inc.
  • Zoox Inc.
  • PlusAI Inc.
  • Embark Trucks Inc.
  • Aurora Innovation Inc.
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Self-Driving Truck Technology Market is expected to record a CAGR of 11.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 15.4 billion. By 2032, the valuation is anticipated to reach USD 38.6 billion.

Self-Driving Truck Technology Specifications

Specification Description
Level of automation SAE level 4 or 5
Sensors LiDAR, radar, camera, GPS, ultrasonic sensors
Computing system High-performance computer with AI capabilities
Actuators Steering, braking, acceleration
Communication system Vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication
Safety features Redundant systems, fail-safes, and human override
Operating environment Highways and other controlled-access roads
Maximum speed 65 mph
Payload capacity 40 tons
Range 500 miles
Source: According to CMI Market Research Team Analysis

Self-Driving Truck Technology refers to the application of advanced technologies that enable trucks to operate autonomously without the need for human drivers. These technologies encompass a range of sensors, such as LiDAR, radar, and cameras, coupled with sophisticated artificial intelligence and machine learning algorithms.

Self-driving trucks are capable of perceiving the environment, making real-time decisions, and navigating roads safely. They have the potential to revolutionize the transportation and logistics industry by improving efficiency, reducing labour costs, enhancing safety, and even contributing to sustainability goals.

This technology represents a significant advancement in the automation of commercial transportation, promising a future of more reliable and efficient freight delivery.

Self-Driving Truck Technology Market – Significant Growth Factors

The Self-Driving Truck Technology Market presents significant growth opportunities due to several factors:

  • Technological Advancements: Ongoing advancements in sensor technology, machine learning, and AI algorithms are enhancing the capabilities of self-driving trucks. These innovations are making autonomous trucks more reliable and proficient in handling complex scenarios, further fuelling market growth.
  • Safety Enhancement: Autonomous trucks can incorporate advanced driver-assistance systems (ADAS) and AI-driven safety features, reducing accidents and improving road safety. This is a compelling driver for market growth.
  • Environmental Concerns: The transportation sector faces mounting pressure to reduce emissions and embrace eco-friendly practices. Autonomous trucks can be programmed for fuel-efficient driving, contributing to environmental sustainability goals.
  • Supply Chain Optimization: Self-driving trucks can optimize global supply chains by offering more predictable and efficient transportation, reducing delays, and minimizing disruptions, presenting an opportunity for improved logistics management.
  • Data-Driven Insights: The extensive data generated by self-driving trucks can be harnessed for real-time decision-making, route optimization, and predictive maintenance, providing opportunities for data analytics and software solutions.
  • E-Commerce Integration: The surge in e-commerce during the COVID-19 pandemic and beyond has created a significant opportunity for self-driving trucks to cater to the growing demand for efficient last-mile deliveries, particularly in urban areas.
  • Labor Shortages and Cost Reduction: The persistent shortage of truck drivers in many regions, coupled with rising labour costs, is driving the adoption of self-driving trucks as a solution to reduce labour dependency and operational expenses.

Self-Driving Truck Technology Market – Mergers and Acquisitions

The Self-Driving Truck Technology Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Self-Driving Truck Technology Market include:

  • Einride and PostNord (June 2023): Einride and PostNord joined forces in June 2023 to introduce digital, electric, and autonomous transportation technology in Norway, contributing to emission reduction and carbon neutrality goals in the region. This partnership serves as a platform for Einride to showcase its innovative solutions.
  • Continental and Aurora Innovation, Inc. (April 2023): Continental and Aurora Innovation, Inc. teamed up in April 2023 to develop the next generation of Aurora’s integrated hardware and software system, the Aurora Driver, designed for scalable autonomous solutions in the trucking industry. Continental’s expertise in software and hardware technology contributes to this collaborative effort.
  • TuSimple’s Milestone (June 2023): In June 2023, TuSimple achieved a significant milestone by successfully navigating approximately 62.76 kilometres on a public road in China using its autonomous trucking software. This achievement demonstrated the technology’s capability to safely handle typical traffic conditions without human intervention or external assistance.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Self-Driving Truck Technology Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Self-Driving Truck Technology Market Private and Hybrid Cloud Enabled IT Infrastructure Market Optical Transmission and Component Market
CAGR 11.2% (Approx) CAGR 10.2% (Approx) CAGR 8.2% (Approx)
USD 38.6 Billion by 2032 USD 214.6 Billion by 2032 USD 31.5 Billion by 2032

Self-Driving Truck Technology Market – Significant Threats

The Self-Driving Truck Technology Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Technological Limitations: Despite substantial advancements, self-driving technology grapples with complexities such as adverse weather conditions, intricate urban environments, and unforeseen road hazards. These challenges can impact the dependability and safety of self-driving trucks, underlining the need for continuous research and development to address and overcome these limitations.
  • Safety Concerns: Prominent accidents involving autonomous vehicles have raised significant safety concerns. Public trust in the technology can erode when accidents occur, potentially leading to public backlash and calls for stricter regulations. Addressing these concerns and demonstrating the technology’s safety is crucial for market acceptance and growth.
  • Regulatory Hurdles: The autonomous trucking industry operates within a rapidly evolving regulatory landscape. Navigating these regulations, which can vary by region and often require extensive testing and compliance efforts, can be complex and time-consuming. Regulatory hurdles can delay market entry and expansion for companies in this sector.
  • Cybersecurity Risks: Autonomous vehicles, including self-driving trucks, are susceptible to cybersecurity threats. Hacking and cyberattacks pose risks not only to the data and information within these vehicles but also to their safety and functionality. Ensuring robust cybersecurity measures is imperative to protect autonomous trucking systems.
  • Job Displacement Concerns: With the increasing adoption of self-driving trucks, there arises a significant risk of job displacement within the trucking sector. This potential displacement could result in labor disputes, resistance to technology, and demands for strategies to alleviate job losses. Effectively addressing these concerns and proactively exploring avenues for workforce transition will be crucial for both industry stakeholders and policymakers to navigate this challenge.
  • High Development Costs: Developing and testing autonomous systems for trucks is a costly endeavor. Companies must invest substantial resources in research, technology development, and extensive testing. The profitability of self-driving truck technology may be delayed by these upfront costs, especially for startups and smaller companies.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 17.7 Billion
Projected Market Size in 2032 USD 38.6 Billion
Market Size in 2022 USD 15.4 Billion
CAGR Growth Rate 11.2% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Component, Application, Propulsion Type and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Component:

  • Hardware: In the Self-Driving Truck Technology Market, hardware refers to the physical components and sensors, such as LiDAR, cameras, radar, and onboard computers, crucial for perceiving and interacting with the environment. Trends include advancements in sensor technology, increasing reliability, and cost reduction.
  • Software: Software encompasses the algorithms and systems that enable self-driving trucks to process data, make decisions, and navigate autonomously. Trends involve AI-driven enhancements, real-time data processing, and improved safety features.
  • Services: Services in this market involve offerings like fleet management, remote monitoring, and maintenance support. Trends include the growth of remote monitoring capabilities, predictive maintenance, and enhanced connectivity for real-time control.

Global Self-Driving Truck Technology Market 2023–2032 (By Billion)

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By Application

  • Logistics and Transportation: Self-driving trucks in logistics and transportation optimize cargo movement, reducing labor costs and enhancing efficiency. Key trends include the integration of autonomous fleets into supply chains, last-mile delivery solutions, and improved route planning.
  • Construction and Manufacturing: In construction and manufacturing, self-driving trucks transport materials and goods within industrial settings. Trends include automation of material handling, inventory management, and integration with smart factories.
  • Mining: Autonomous trucks in mining operate in challenging environments, improving safety and productivity. Trends include larger autonomous haul trucks and real-time data analytics for optimization.
  • Port: Self-driving trucks at ports streamline cargo handling, enhancing container transport efficiency. Trends include automation of port logistics, remote control centers, and electrification for greener operations.
  • Others: Self-driving trucks find applications in agriculture, forestry, and specialized industries. Trends include precision agriculture, forest management, and customized autonomous solutions for unique sectors.

By Propulsion Type

  • Internal Combustion: In the Self-Driving Truck Technology Market, internal combustion propulsion involves traditional engines fueled by gasoline or diesel. While initially dominant, it’s gradually giving way to more environmentally friendly alternatives due to emission concerns.
  • Hybrid Transmission: Hybrid transmission combines conventional engines with electric components, providing improved fuel efficiency. It’s gaining traction in self-driving trucks as eco-friendliness becomes a priority.
  • Electric Transmission: Electric transmission relies solely on electricity, making it the most environmentally friendly option. In the self-driving truck sector, there’s a growing shift towards electric propulsion, driven by sustainability and regulatory factors.

Global Self-Driving Truck Technology Market 2023–2032 (By Component)

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Self-Driving Truck Technology Market – Regional Analysis

The Self-Driving Truck Technology Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the trend in the Self-Driving Truck Technology Market is marked by robust investments in research and development, particularly in Silicon Valley. High-profile partnerships between technology giants and logistics companies are driving innovation. The region’s regulatory environment is also evolving to accommodate autonomous vehicles, fostering a favourable landscape for testing and deployment.
  • Europe: The European Self-Driving Truck Technology Market is prominently marked by a steadfast commitment to safety and regulatory adherence. European nations are actively collaborating to create unified regulations that facilitate seamless cross-border autonomous truck operations. Furthermore, there’s a growing emphasis on developing platooning technologies aimed at bolstering fuel efficiency and minimizing emissions, aligning with the region’s sustainability objectives.
  • Asia-Pacific: The Asia-Pacific region is currently witnessing a remarkable surge in autonomous truck technology. This growth is primarily attributed to the urgent need to address labour shortages and enhance logistics efficiency. Notably, China stands out for its significant advancements in self-driving trucks.
  • LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, the Self-Driving Truck Technology Market is still in its nascent stages compared to other regions. However, there is increasing interest, primarily in the Middle East, to adopt autonomous trucks for logistics and transportation purposes. The market is expected to see gradual growth as technology adoption and regulatory frameworks develop.

Global Self-Driving Truck Technology Market 2023–2032 (By Propulsion Type)

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Competitive Landscape – Self-Driving Truck Technology Market

The Self-Driving Truck Technology Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Waymo LLC
  • TuSimple Holdings Inc.
  • Zoox Inc.
  • PlusAI Inc.
  • Embark Trucks Inc.
  • Aurora Innovation Inc.
  • Nuro Inc.
  • Starsky Robotics Inc.
  • ai Inc.
  • Ike Robotics Inc.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants into the Self-Driving Truck Technology Market are adopting innovation and development to secure a foothold in the industry. Startups like TuSimple and Embark Trucks are leveraging cutting-edge technology to create autonomous trucking solutions.

Meanwhile, established tech giants like Waymo, Tesla, and Daimler are leading the market. Waymo, with its advanced autonomous driving technology, is forging partnerships with logistics companies. Tesla’s Autopilot system is increasingly integrated into commercial trucks.

Daimler’s Freightliner Inspiration has made significant strides. These key players dominate through innovation, partnerships, and extensive testing, shaping the self-driving truck technology landscape.

The Self-Driving Truck Technology Market is segmented as follows:

By Component

  • Hardware
  • Software
  • Services

By Application

  • Logistics and Transportation
  • Construction and Manufacturing
  • Mining
  • Port
  • Others

By Propulsion Type

  • Internal combustion
  • Hybrid transmission
  • Electric transmission

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Self-Driving Truck Technology Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Self-Driving Truck Technology Market: snapshot
  • Chapter 3. Global Self-Driving Truck Technology Market – Industry Analysis
    • 3.1 Self-Driving Truck Technology Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Technological Advancements
      • 3.2.2 Safety Enhancement
      • 3.2.3 Environmental Concerns
      • 3.2.4 Supply Chain Optimization
      • 3.2.5 Data-Driven Insights
      • 3.2.6 E-Commerce Integration
      • 3.2.7 Labor Shortages and Cost Reduction.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Component
      • 3.7.2 Market Attractiveness Analysis By Application
      • 3.7.3 Market Attractiveness Analysis By Propulsion Type
  • Chapter 4. Global Self-Driving Truck Technology Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Self-Driving Truck Technology Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Self-Driving Truck Technology Market – Component Analysis
    • 5.1 Global Self-Driving Truck Technology Market Overview: By Component
      • 5.1.1 Global Self-Driving Truck Technology Market Share, By Component, 2022 and – 2033
    • 5.2 Hardware
      • 5.2.1 Global Self-Driving Truck Technology Market by Hardware, 2024 – 2033 (USD Billion)
    • 5.3 Software
      • 5.3.1 Global Self-Driving Truck Technology Market by Software, 2024 – 2033 (USD Billion)
    • 5.4 Services
      • 5.4.1 Global Self-Driving Truck Technology Market by Services, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Self-Driving Truck Technology Market – Application Analysis
    • 6.1 Global Self-Driving Truck Technology Market Overview: By Application
      • 6.1.1 Global Self-Driving Truck Technology Market Share, By Application, 2022 and – 2033
    • 6.2 Logistics and Transportation
      • 6.2.1 Global Self-Driving Truck Technology Market by Logistics and Transportation, 2024 – 2033 (USD Billion)
    • 6.3 Construction and Manufacturing
      • 6.3.1 Global Self-Driving Truck Technology Market by Construction and Manufacturing, 2024 – 2033 (USD Billion)
    • 6.4 Mining
      • 6.4.1 Global Self-Driving Truck Technology Market by Mining, 2024 – 2033 (USD Billion)
    • 6.5 Port
      • 6.5.1 Global Self-Driving Truck Technology Market by Port, 2024 – 2033 (USD Billion)
    • 6.6 Others
      • 6.6.1 Global Self-Driving Truck Technology Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Self-Driving Truck Technology Market – Propulsion Type Analysis
    • 7.1 Global Self-Driving Truck Technology Market Overview: By Propulsion Type
      • 7.1.1 Global Self-Driving Truck Technology Market Share, By Propulsion Type, 2022 and – 2033
    • 7.2 Internal combustion
      • 7.2.1 Global Self-Driving Truck Technology Market by Internal Combustion, 2024 – 2033 (USD Billion)
    • 7.3 Hybrid transmission
      • 7.3.1 Global Self-Driving Truck Technology Market by Hybrid Transmission, 2024 – 2033 (USD Billion)
    • 7.4 Electric transmission
      • 7.4.1 Global Self-Driving Truck Technology Market by Electric Transmission, 2024 – 2033 (USD Billion)
  • Chapter 8. Self-Driving Truck Technology Market – Regional Analysis
    • 8.1 Global Self-Driving Truck Technology Market Regional Overview
    • 8.2 Global Self-Driving Truck Technology Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Self-Driving Truck Technology Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Self-Driving Truck Technology Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Self-Driving Truck Technology Market, by Component, 2024 – 2033
      • 8.4.1 North America Self-Driving Truck Technology Market, by Component, 2024 – 2033 (USD Billion)
    • 8.5 North America Self-Driving Truck Technology Market, by Application, 2024 – 2033
      • 8.5.1 North America Self-Driving Truck Technology Market, by Application, 2024 – 2033 (USD Billion)
    • 8.6 North America Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033
      • 8.6.1 North America Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Self-Driving Truck Technology Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Self-Driving Truck Technology Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Self-Driving Truck Technology Market, by Component, 2024 – 2033
      • 8.8.1 Europe Self-Driving Truck Technology Market, by Component, 2024 – 2033 (USD Billion)
    • 8.9 Europe Self-Driving Truck Technology Market, by Application, 2024 – 2033
      • 8.9.1 Europe Self-Driving Truck Technology Market, by Application, 2024 – 2033 (USD Billion)
    • 8.10 Europe Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033
      • 8.10.1 Europe Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Self-Driving Truck Technology Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Self-Driving Truck Technology Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Self-Driving Truck Technology Market, by Component, 2024 – 2033
      • 8.12.1 Asia Pacific Self-Driving Truck Technology Market, by Component, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Self-Driving Truck Technology Market, by Application, 2024 – 2033
      • 8.13.1 Asia Pacific Self-Driving Truck Technology Market, by Application, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033
      • 8.14.1 Asia Pacific Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Self-Driving Truck Technology Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Self-Driving Truck Technology Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Self-Driving Truck Technology Market, by Component, 2024 – 2033
      • 8.16.1 Latin America Self-Driving Truck Technology Market, by Component, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Self-Driving Truck Technology Market, by Application, 2024 – 2033
      • 8.17.1 Latin America Self-Driving Truck Technology Market, by Application, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033
      • 8.18.1 Latin America Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Self-Driving Truck Technology Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Self-Driving Truck Technology Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Self-Driving Truck Technology Market, by Component, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Self-Driving Truck Technology Market, by Component, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Self-Driving Truck Technology Market, by Application, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Self-Driving Truck Technology Market, by Application, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Self-Driving Truck Technology Market, by Propulsion Type, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Waymo LLC
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 TuSimple Holdings Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Zoox Inc.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 PlusAI Inc.
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Embark Trucks Inc.
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Aurora Innovation Inc.
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Nuro Inc.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Starsky Robotics Inc.
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Pronto.ai Inc.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Ike Robotics Inc.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 27

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Waymo LLC
  • TuSimple Holdings Inc.
  • Zoox Inc.
  • PlusAI Inc.
  • Embark Trucks Inc.
  • Aurora Innovation Inc.
  • Nuro Inc.
  • Starsky Robotics Inc.
  • ai Inc.
  • Ike Robotics Inc.
  • Others

FAQs

The key factors driving the Market are Technological Advancements, Safety Enhancement, Environmental Concerns, Supply Chain Optimization, Data-Driven Insights, E-Commerce Integration And Labor Shortages and Cost Reduction.

The “Component” category dominated the market in 2022.

The key players in the market are Waymo LLC , TuSimple Holdings Inc., Zoox Inc., PlusAI Inc. , Embark Trucks Inc., Aurora Innovation Inc., Nuro Inc., Starsky Robotics Inc., Pronto.ai Inc., Ike Robotics Inc., Others.

“North America” had the largest share in the Self-Driving Truck Technology Market.

The global market is projected to grow at a CAGR of 11.2% during the forecast period, 2023-2032.

The Self-Driving Truck Technology Market size was valued at USD 15.4 Billion in 2022.

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