Self-Driving Truck Market to grow at 10.4% of CAGR from 2020 to 2031

PORTLAND, ORAGON, UNITED STATES, October 6, 2022 /EINPresswire.com/ — 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 the self-driving truck industry. In 2020, China is expected to register the highest self-driving truck market growth in Asia-Pacific. Similarly, the UK is expected to lead the overall self-driving truck market share in Europe in 2020. In the same year, according to self-driving truck market analysis, the U.S. is estimated to dominate the North American market.

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 Factors such as rising environmental concern and increasing road accidents are driving the growth of global self-driving truck market. However, security concern due to the automation is anticipated to hinder the growth of the market. Furthermore, decongestion of traffic provides a remarkable growth opportunity for the key players operating in the self-driving truck market.

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 Many self-driving truck companies are developing new innovative and advanced technologies, which in turn is anticipated to propel the market. For instance, TuSimple, a self-driving truck technology developer has introduced a new vision system and proprietary automotive-grade camera which will be deployed in the vehicle in third quarter of 2019. This custom designed camera allows low light and reliable night operations doubling the current truck utilization.

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 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.

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 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

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About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “”Market Research Reports”” and “”Business Intelligence Solutions.”” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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David Correa
Allied Analytics LLP
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