DUBLIN--(BUSINESS WIRE)--The "Autonomous Commercial Vehicle Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous commercial vehicle market.
This report focuses on autonomous commercial vehicle market which is experiencing strong growth. The report gives a guide to the autonomous commercial vehicle market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global autonomous commercial vehicle market is expected to decline from $7.57 billion in 2019 to $6.33 billion in 2020 at a compound annual growth rate (CAGR) of -16.35%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $11.30 billion in 2023 at CAGR of 21.31%.
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The major players in the autonomous commercial vehicles market are acquiring technology and robotics companies in order to develop advanced technologies. For instance, in March 2019, Daimler AG, a Germany-based multinational automotive corporation agreed to purchase majority stakes in Torc Robotics, a pioneer in autonomous driving, for an undisclosed amount. This acquisition is expected to help Daimler AG to develop and create a technology powerhouse for autonomous vehicles. Torc Robotics was founded in 2005 and is an autonomous commercial vehicle solution provider based in Virginia, USA. Similarly, TuSimple announced partnership with ZF to co-develop cameras, LiDAR, radar, steering and automotive-grade central computer ZF ProAI and incorporate them to develop autonomous technologies.
The autonomous commercial vehicles market covered in the report is segmented by vehicle into truck; trailer; bus; others. It is also segmented by automation level into driver assistance; partial automation; conditional automation; high automation; full automation and by fuel type into conventional; hybrid vehicle; electric vehicle.
Increasing concerns for cybersecurity and data privacy acts as a major challenge for the autonomous commercial vehicles market. According to a report on issues in autonomous vehicle testing and deployment published by Congressional Research Service, the USA's policy institute in February 2020, with advances in technology, the concerns for data security and protection of the on-board system against intrusion is increasing.
The inbuilt automated components in the vehicle generate a large amount of data about the vehicle, vehicle performance, driver behavior and vehicle precise location. The protection of autonomous vehicles from hackers is of paramount concern for state and federal governments, service providers, manufacturers and users. Therefore, with advancements in technology, the concerns for data privacy and security are increased, which in turn, is likely to act as a major restraint for the growth of the autonomous commercial vehicle market.
The increase in government approvals for testing autonomous trucks on public roads drives the growth of the autonomous commercial vehicles market. The governments of major countries are allowing the testing of autonomous vehicles in order to promote the use of commercial vehicles for delivery and other purposes. The California Department of Motor Vehicles (DMV), in April 2019, proposed a regulation that allows companies to deploy or test light-duty autonomous motor trucks or delivery vehicles on the public roads of the state.
Key Topics Covered:
1. Executive Summary
2. Autonomous Commercial Vehicle Market Characteristics
3. Autonomous Commercial Vehicle Market Size And Growth
3.1. Global Autonomous Commercial Vehicle Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Autonomous Commercial Vehicle Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Autonomous Commercial Vehicle Market Segmentation
4.1. Global Autonomous Commercial Vehicle Market, Segmentation By Vehicle, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Autonomous Commercial Vehicle Market, Segmentation By Automation Leve;, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Autonomous Commercial Vehicle Market, Segmentation By Fuel Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Autonomous Commercial Vehicle Market Regional And Country Analysis
5.1. Global Autonomous Commercial Vehicle Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Autonomous Commercial Vehicle Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- BMW AG
- Isuzu Motors Limited
- General Motors
- AB Volvo
- Beiqi Foton Motor
- Dongfeng Motor
- SINOTRUK Group
- FAW Jiefang
- China Shaanqi
- Beiben Trucks
- SAIC Hongyan
- Zhengzhou Yutong Bus
- King Long Bus
- CRRC Electric Vehicle
- Xiamen Golden Dragon Bus
- Anhui Ankai Automobile
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