Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The "Autonomous Commercial Vehicle Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global autonomous commercial vehicle market is on a fast-paced trajectory, set to reach an estimated $7.95 billion in 2023, boasting a compound annual growth rate (CAGR) of 23.9% from $6.41 billion in 2022. This burgeoning market is a critical player in the evolution of the transportation industry as it ushers in a new era of autonomous buses, coaches, trucks, and trailers. A deep understanding of this market is essential for business leaders, investors, and decision-makers.
Comprehensive Market Insights and Analysis
The market research report offers a granular analysis that delves into multiple facets, including key operating regions, government regulations, significant challenges such as cybersecurity, and noteworthy market trends. Explore how influential global players like Uber Freight and Waymo are shaping the landscape of this industry. Our comprehensive analysis is designed to empower your strategic decision-making process and keep you ahead of industry developments.
Key Market Figures
- Market Growth: The global autonomous commercial vehicle market is set to grow from $6.41 billion in 2022 to $7.95 billion in 2023, at a CAGR of 23.9%. It is expected to reach $16.24 billion in 2027 with a CAGR of 19.6%.
- Market Scope: This market encompasses sales from autonomous buses and coaches. It includes both goods sold by manufacturers or creators of the vehicles and related services.
- Geographical Focus: The primary regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Market Segmentation and Vehicle Types
- Vehicle Types: The market comprises various vehicle types, including trucks, trailers, buses, and others. Trucks are a significant category.
- Automation Levels: The industry features different automation levels, such as driver assistance, partial automation, conditional automation, high automation, and full automation.
- Fuel Types: Vehicles in this market run on various fuel types, including conventional, hybrid, and electric.
Market Dynamics: Drivers, Restraints, Opportunities, and Challenges
Drivers:
- Surge in the number of preterm births
- Growing number of respiratory diseases in newborn babies
- Favorable government investments to enhance healthcare infrastructure
Restraints:
- High cost of neonatal respiratory care devices
Opportunities:
- Emergence of next-generation respiratory devices for newborns
- Proliferation in research and development activities with significant investments
Challenges:
- Stringent approval process and shortage of pediatricians
Market Trends and Influential Partnerships
In June 2022, Uber Freight, a U.S.-based managed transportation provider, joined forces with Waymo Via, a U.S.-based autonomous driving technology company. This strategic partnership leverages Waymo's autonomous driving technology and Uber Freight's expansive network and marketplace technology. It sets the stage for a cautious and secure introduction of autonomous trucks on U.S. roads, exemplifying how industry leaders are shaping the future of autonomous commercial vehicles.
Geographical Insights
- Largest Region: Asia Pacific emerged as the largest region in the autonomous commercial vehicle market in 2022.
- Second Largest Region: North America held the position of the second-largest region in this market.
Major Companies in the Market
- Volkswagen
- Daimler
- Tesla
- Denso
- Continental
- Waymo
- BMW AG
- Isuzu Motors Limited
- General Motors
- AB Volvo
- Beiqi Foton Motor
- Skywell
- Dongfeng Motor
- SINOTRUK Group
- FAW Jiefang
- China Shaanqi
- Beiben Trucks
- SAIC Hongyan
- JMC
- Zhengzhou Yutong Bus
- King Long Bus
- CRRC Electric Vehicle
- Xiamen Golden Dragon Bus
- Anhui Ankai Automobile
Why Should You Get This Report?
- Gain a global perspective with insights from 50+ geographies.
- Understand the market's relationship with the overall economy, demographics, and related markets.
- Identify the forces shaping the market's future.
- Analyze the impact of the Russia-Ukraine war on global economic recovery and its consequences for various markets.
- Assess the effects of high global inflation on market growth.
- Create regional and country strategies based on local data and analysis.
- Identify growth segments for investment.
- Stay ahead of competitors with forecast data and insights into market drivers and trends.
- Understand customers through the latest market shares.
- Benchmark performance against key competitors.
The autonomous commercial vehicle market report answers crucial questions about market size, growth, segmentation, regional breakdowns, competitive landscape, market shares, trends, and strategies. It traces the market's historic and forecasted growth by geography.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $7.95 billion |
| Forecasted Market Value (USD) by 2027 | $16.24 billion |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/z4dnib
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