The Robot Cars And Trucks Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Robot Cars And Trucks Global Market Report 2024, The robot cars and trucks market size is expected to see rapid growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to increasing focus on sustainability, reduction in traffic accidents and fatalities, integration of autonomous vehicles in agricultural practices, infrastructure development, and Insurance industry adaptation. Major trends in the forecast period include autonomous technology with electric vehicles, integration of autonomous vehicles into smart city, remote operation and monitoring, focus on green technology, and integration of autonomous vehicles with drones.
The rising number of road accidents are expected to propel the growth of the robot cars and trucks market. Road accidents occur due to speeding, distracted driving, impaired driving, poor road conditions, and inadequate enforcement of traffic laws. Autonomous cars and trucks help reduce accidents by leveraging advanced sensors and real-time decision-making capabilities and eliminating human error, ultimately enhancing road safety through consistent adherence to traffic laws and predictive analytics. For instance, in September 2022, according to the Reported Road Casualties Great Britain Annual Report 2021, by GOV.UK, a UK-based government services and information provider, in 2021, there were approximately 1,558 reported fatalities in road collisions, marking a 7% increase from the figures recorded in 2020. Therefore, the rising number of road accidents drives the growth of the robot cars and trucks market.
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The robot cars and trucks market covered in this report is segmented –
1) By Vehicle Type: Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles
2) By Classification: Level 0, Level 1, Level 2, Level 3, Level 4, Level 5
3) By Technology: Simultaneous Localization And Mapping, Real-Time Locating System
4) By Application: Domestic, Commercial, Industrial
Major companies operating in the robot cars and trucks market are prioritizing advanced autonomous driving technologies to enhance safety, efficiency, and user experience, aiming to revolutionize transportation with cutting-edge innovations. Autonomous driving technologies refer to systems that enable vehicles to operate without human intervention, using sensors and AI to perceive their environment and navigate autonomously. For instance, in April 2024, Horizon Robotics, a China-based vehicle manufacturing company, launched Horizon SuperDrive, a next-generation autonomous driving solution. It is designed to deliver smooth and human-like driving experiences across urban, highway, and parking scenarios. It integrates advanced ADAS and AD technologies for enhanced safety, comfort, and convenience, accelerating smart driving system adoption in passenger vehicles.
The robot cars and trucks market report table of contents includes:
1. Executive Summary
2. Robot Cars And Trucks Market Characteristics
3. Robot Cars And Trucks Market Trends And Strategies
4. Robot Cars And Trucks Market – Macro Economic Scenario
5. Global Robot Cars And Trucks Market Size and Growth
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32. Global Robot Cars And Trucks Market Competitive Benchmarking
33. Global Robot Cars And Trucks Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Robot Cars And Trucks Market
35. Robot Cars And Trucks Market Future Outlook and Potential Analysis
36. Appendix
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