The robot cars and trucks global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Robot Cars And Trucks Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The robot cars and trucks market size has grown rapidly in recent years. It will grow from $0.79 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to increasing government funding for deployment of proper roadway controls, increasing urban population, continuous research and development, accelerated interest in contactless delivery, transportation solutions, and increasing trust and acceptance of autonomous vehicle technology.
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.
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Scope Of Robot Cars And Trucks Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Robot Cars And Trucks Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
Asia-Pacific was the largest region in the robot cars and trucks market in 2023. The regions covered in the robot cars and trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the robot cars and trucks market are Volkswagen AG, Ford Motor Company, The Mercedes-Benz Group AG, Bayerische Motoren Werke AG (BMW AG), Tesla Inc., AB Volvo, Continental AG, Paccar Inc., NVIDIA Corporation, Baidu Inc., Aptiv PLC, Mobileye Global Inc., Zoox Inc., Waymo LLC, Aurora Innovation Inc., Nuro Inc., Motional Inc., Torc Robotics LLC, Pony.AI Inc., Embark Trucks Inc., Einride AB, Navya SAS, Udelv Inc., TuSimple Holdings Inc.
Table of Contents
1. Executive Summary
2. Robot Cars And Trucks Market Report Structure
3. Robot Cars And Trucks Market Trends And Strategies
4. Robot Cars And Trucks Market – Macro Economic Scenario
5. Robot Cars And Trucks Market Size And Growth
…..
27. Robot Cars And Trucks Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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