Dublin, Dec. 20, 2018 (GLOBE NEWSWIRE) -- The "Truck Platooning Market by Type (DATP, Autonomous), Systems (ACC, AEB, FCW, GPS, HMI, LKA, BSW), Sensor (Lidar, Radar, Image), Services (Telematics- ECall, ACE,Tracking, Diagnostics, Platooning-Pricing, Match Making), Region - Global Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.

The truck platooning market is projected to grow at a CAGR of 60.96% during the forecast period, and the market size is projected to grow from USD 37.6 million in 2021 to USD 2,728.7 million by 2030.

The development of autonomous and semi-autonomous trucks and industry-wide standards to implement safety features such as the adaptive cruise control (ACC), forward collision warning, lane keep assist, and other advanced driver assistance systems (ADAS) features would drive the growth of the truck platooning market. At the same time, the high cost of hardware and technologies and lack of infrastructure development can be major obstacles for the growth of the truck platooning market.

The market for driver assistive truck platooning (DATP) is projected to hold the largest share in the truck platooning market

The increasing adoption of advanced driver assistance system (ADAS) features and significant platooning testing are driving the market for DATP. DATP helps drivers detect and make sufficient space for any vehicle that comes in between the platooning trucks with the help of state-of-the-art safety technology.

According to industry experts, truck platooning will help to reduce operating cost by 5% to 10% per truck. The reduction in operating cost would encourage fleet management companies to invest in DATP. Additionally, the significant platooning testing and increased funding from the government would play a major role in the development of DATP.

In June 2018, Volvo Trucks North America announced the successful demonstration of on-highway truck platooning in North Carolina. The company has been working closely with FedEx and the North Carolina Turnpike Authority to expand on-highway operations of Volvo's Cooperative Adaptive Cruise Control. In September 2017, Daimler Trucks North America announced the testing of truck platooning operations on public highways of Oregon and Nevada in the US. The cost of the DATP systems is projected to decrease in the near future owing to advancements and commercialization of this technology. Reduced cost will make DATP more profitable and, hence, would increase the market adoption of the technology.

Europe: The fastest growing region in the truck platooning market

Europe is projected to be fastest growing region in the truck platooning market. The major factors driving the growth of the European market include pioneering efforts in truck platooning, technological advancements, and stringent vehicle safety norms in the region. For instance, in July 2017, Germany's Federal Ministry of Transport and Digital Infrastructure (BMVI) invested approximately USD 2.3 million to support a truck platooning project by DB Schenker (Germany), MAN (Germany), and Hochschule (Germany). With the growing adoption of truck platooning developments in the region, the European truck platooning market is expected to witness considerable growth during the forecast period.

The truck platooning market is dominated by a few global players. Some of the key manufacturers operating in the market are Volvo (Sweden), Daimler (Germany), Scania (Sweden), Continental (Germany), Peloton (US), and NVIDIA (US).

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Product and Market Definition
1.3 Market Scope
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Truck Platooning - Global Market Trends
4.2 Truck Platooning Market, By Platooning Type
4.3 Truck Platooning Market, By Systems
4.4 Truck Platooning Market, By Sensor Type
4.5 Truck Platooning Market, By Services
4.6 Truck Platooning Market, By Country
4.7 Truck Platooning Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Reduction in Operating Cost
5.2.1.1.1 Reduction in Fuel Consumption
5.2.1.1.2 Lowering the Co2 Emission
5.2.1.2 Road Safety
5.2.1.3 Shortage of Skilled Drivers
5.2.2 Restraints
5.2.2.1 High Cost of Hardware and Technologies
5.2.2.2 Lack of Infrastructure
5.2.2.3 Ambiguity Over Regulations and Legislative Environment
5.2.3 Opportunities
5.2.3.1 Self-Driving Trucks
5.2.4 Challenges
5.2.4.1 Gaining User/Public Acceptance
5.2.4.2 Concern Over Data Privacy and Cyber Security Regulations

6 Truck Platooning Market, By Platooning Type
6.1 Introduction
6.2 Driver-Assistive Tuck Platooning (DATP)
6.3 Autonomous Truck Platooning

7 Truck Platooning Market, By Systems
7.1 Introduction
7.2 Adaptive Cruise Control (ACC)
7.3 Blind Spot Warning (BSW)
7.4 Global Positioning System (GPS)
7.5 Forward Collision Warning (FCW)
7.6 Lane Keep Assist (LKA)
7.7 Autonomous Emergency Braking (AEB)
7.8 Human Machine Interface (HMI)
7.9 Others

8 Truck Platooning Market, By Sensor Type
8.1 Introduction
8.2 Image
8.3 Radar
8.4 LiDAR

9 Truck Platooning Market, By Services
9.1 Introduction
9.2 Telematics-Based
9.3 Platooning-Based

10 Truck Platooning Market, By Region
10.1 Introduction
10.2 Americas
10.3 Europe
10.4 Asia Oceania
10.5 Middle East and Africa (MEA)

11 Competitive Landscape
11.1 Introduction
11.2 Truck Platooning: Market Ranking Analysis
11.3 Competitive Situation & Trends

12 Company Profiles
12.1 Original Equipment Manufacturers (OEMS)
12.1.1 Volvo
12.1.2 Daimler
12.1.3 Scania
12.2 Tier-1 Suppliers
12.2.1 Continental
12.2.2 Bosch
12.2.3 ZF
12.2.4 Wabco
12.3 Software Suppliers
12.3.1 Intel
12.3.2 Nvidia
12.3.3 Peloton
12.4 Service Providers
12.4.1 Omnitracs
12.4.2 Trimble
12.4.3 Tomtom
12.5 Other Players
12.5.1 Asia Oceania
12.5.1.1 Toyota Tsusho
12.5.1.2 Hino Motors
12.5.2 Europe
12.5.2.1 Man
12.5.2.2 Telefonica
12.5.3 North America
12.5.3.1 Otto
12.5.3.2 Paccar
12.5.4 RoW
12.5.4.1 Cargox

For more information about this report visit https://www.researchandmarkets.com/research/jx7bh6/global_truck?w=12

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