Truck Platooning Technology Market By Applications, Types, New Technology - Opportunity Analysis And Forecast: 2022 – 2030
Truck Platooning Market Overview
Nowadays, platooning is gaining
more popularity in the automotive industry across the regions as it is helpful
for the purpose of improving safety, decrease pollution, and fuel efficiency.
The truck
platooning technology market is increasing its demand because
platooning is improving operational efficiency and providing autonomous driving
experiences for the reduction of the number of accidents and driving efforts.
The truck platooning technology Industry is increasing its
demand due to the improved road transport in a more efficient, cleaner, and
safer way of platooning.
Truck Platooning Market is
predicted to grow at approximately 11% CAGR by Forecast Period.
The rising demand for automated
technologies is increasing the adoption of truck platooning in various sectors
such as logistics, information technology, road development, and
transportation. The truck platooning technology Industry is driving its market
growth due to the increasing innovation in platooning technologies, the
increasing sales of commercial vehicles, and increasingly stringent
environmental regulations. In other words, the global market is helpful for
lowering CO2 emissions, reducing fuel consumption, reducing operating costs,
and providing road safety.
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Hence, the global market is
growing opportunities in the competitive market due to the Self-driving trucks.
Moreover, the high cost of hardware and technologies and lack of infrastructure
can be a major restraint for the global market. Further, gaining user or public
acceptance as well as the increasing concern over data privacy and
cybersecurity regulations can be a major challenge for the truck
platooning technology market Size.
Key Players
The key players in truck
platooning market are Daimler AG (Germany), Scania AB (Sweden), AB Volvo
(Sweden), Peloton Technology (US), Navistar International Corporation (US), and
Meritor Wabco (Auburn Hills). Bendix Commercial Vehicles Systems LLC (Ohio),
Continental AG (Germany), Delphi Automotive PLC (Dublin), and OTTO Technologies
(San Francisco) are among others.
Truck Platooning Technology
Market Segmental Overview
The truck platooning
technology market is classified based on the technology, component,
and vehicle type. Based on the component segment, the global market is
classified into various components such as system display with rear time
camera, a forward-looking camera, radar base collision mitigation, and
driver-centric design. These entire component segments are playing an important
role in the global market by enhancing the truck platooning technology
market Share for the forecast period. According to the technology
segment, the global market is divided into GPS, cellular & Wi-Fi
communication, acceleration & braking controllers, and dedicated
short-range communication V2V communication. The global market is classified
into heavy commercial vehicles and light commercial vehicles based on the
vehicle type segment.
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Regional Analysis
The regional classification of
the truck platooning technology market Trends indicates that
the global market has covered the regions like South America, North America,
Europe, Asia-Pacific, and the Rest of the World. Compared to all these regions,
the European region is registered the higher truck platooning
technology market Share due to the increased demand for automated
driving systems and smart mobility in countries like France, the UK, and
Germany. Another reason for increasing higher market share in the European
region is an increase in sales of commercial vehicles. Moreover, the European
regions are increasing demands due to the increase in demand for efficiency,
road transport, and safety. As a result, the global market is generating
higher truck platooning technology market Growth.
Industry News
The global truck
platooning technology market Trends has been affected due to the
lockdown across the regions. This pandemic situation has hampered the truck
platooning technology market Growth as well as its productivity,
supply chain, and others. Moreover, the global market has lost its investors
due to the increasing loss for the products, supply, transportation, workforce,
and others. However, in the meantime, the key market players have implied
various strategic techniques to boost global market growth. Thus, to meet the
global market demands, the global market increased its speed in producing more
valuable products for its intended customers. Recently, the global market has
stabilized its position in the global market and is expected to register a
higher truck platooning technology market Size for the
forecast period.
Continue......
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