Autonomous Commercial Vehicle Market Report 2021-2030

Autonomous Commercial Vehicle Market
Share, Trends, Segmentation, Key Players
And Forecast
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The global autonomous commercial vehicle market is predicted to progress at a CAGR of
8.2% between 2020 and 2030. Moreover, the market will witness a revenue growth of $606.3
billion from 2020 to 2030. The market is being driven by the rapid advancements in
automobile technologies, the rising requirement for a safe and efficient driving option, and the
surging implementation of favorable government policies regarding the usage of autonomous
commercial vehicles.
The emergence of connected vehicle technologies is one of the major factors fueling the
progress of the market. This is because autonomous technologies are heavily required in
connected vehicles and their integration in these automobiles is much easier than in
conventional vehicles. Furthermore, the soaring popularity of connected vehicles, on account
of the existence of advanced features such as traffic and collision warnings, real-time traffic
monitoring, and roadside assistance in these vehicles, is massively propelling the market
expansion.
Besides the aforementioned factor, the surging requirement for a safe and efficient driving
option is also driving the advancement of the autonomous commercial vehicle market across
the world. Due to the rising incidence of road accidents, the demand for advanced vehicular
safety systems is growing rapidly across the world. Road accidents are mainly caused because
of human errors such as the over speeding and the failure to pay proper attention at all times.
This is why the growing incidence of road accidents is positively impacting the demand for
autonomous commercial vehicles all over the world. Based on vehicle autonomy, the
autonomous commercial vehicle market is divided into fully autonomous and semiautonomous
vehicles. Of these, the fully autonomous vehicle category is predicted to
demonstrate faster growth in the market in the forthcoming years. This is ascribed to the
surging deployment of fully autonomous vehicles in logistics applications for optimizing the
efficiency of these operations.
When application is taken into consideration, the market is classified into public
transportation, logistics, and construction. Out of these, the logistics category recorded the
highest growth in the market during the last few years and this trend is predicted to continue
in the upcoming years as well. This is attributed to the expansion of the logistics industry and
the growth of the retail, manufacturing, and e-commerce industries around the world.
Across the globe, the autonomous commercial vehicle market will exhibit the fastest growth
in the Asia-Pacific (APAC) region in the forthcoming years, as per the forecast of P&S
Intelligence, a market research company based in India. The advancement of the market in
this region will be driven by the rapid technological advancements and innovations being
made in the automotive industry and the ballooning popularity of autonomous driving
technologies in the regional countries such as Japan, South Korea, and China.
Hence, it can be said with full surety that the market will demonstrate huge expansion all over
the world in the coming years, primarily because of the rising deployment of fully
autonomous vehicles in the logistics industry and the growing demand for advanced vehicular
safety systems and features in several countries.

This study covers
Historical and the present size of the Autonomous Commercial Vehicle Market
Major factors driving the market and their impact during the short, medium, and long
terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their
comparative future potential
Potential of on-demand logistics services, so the market players make informed
decisions on the sales of their offerings
Competitive scenario of various market segments across key countries in several
regions for uncovering market opportunities for the stakeholders
Major players operating in the market and their service offerings
Recent strategic developments by the major players in the market
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