The Semi-Autonomous Truck can drive the vehicles without a driver with the support of sensors, and artificial intelligence (AI). The Semi-autonomous truck is functioned at a lengthier distance with the fewer human effort and can control all the protection functions on its own. The Semi-autonomous trucks intellect the driving condition of surrounding and enables the driver to regain the controls delivering the sufficient transition time. The Semi-Autonomous & Autonomous Truck has operative sensor technology than human sense as it delivers the distance vision ahead, perceive small obstacles, and maneuver traffic successfully.
According to the report analysis, ‘Global Semi-Autonomous & Autonomous Truck Market to reach USD 4.1 million by 2027’ states that throughout the COVID-19 pandemic, the government asked for work from home operations from every organization for impermanent basis, that is distressing supply and distribution the channel around the world. The Semi-autonomous truck is calculated with an indispensable service and supports to keep restocking stores light on the inventory after the panic-buying of customer staples as the calamity unfolded. The growing emphasis on better road protection and traffic control, capability of autonomous and semi-autonomous trucks to assuage truck driver shortage and the economic effect of semi-autonomous and autonomous trucks on the trucking industry are the few aspects responsible for the growth of the market over the review period.
Furthermore, the establishment of innovative products and several other strategic alliances by the market players will generate a lucrative requirement for the market. For instance, in 2017, Tesla Inc. proclaimed the launch of an electric truck called ‘Semi’ by 2021. The Tesla Semi can go from 0 to 60 miles per hour (100 km per hour) in five seconds without cargo. However, the anxieties over cybersecurity and data privacy and shortage of information technology and communication infrastructure in underdeveloped nations are the foremost factors limiting the growth of worldwide Semi-Autonomous & Autonomous Truck market throughout the forecast period.
Although, the worldwide Semi-Autonomous & Autonomous Truck Market is worth approximately USD 1.0 million during 2019 and is projected to increase with a healthy growth rate of more than 22.4% over the review period of 2020-2027. The regional analysis of worldwide Semi-Autonomous & Autonomous Truck market is measured for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. The North America is the leading/noteworthy region around the world in terms of market share due to the fast implementation of fresh technology. Whereas, the Asia-Pacific is also projected to exhibit the greatest growth rate / CAGR over the review period of 2020-2027.
Furthermore, aspects such as an augmenting road accidents, lack of drivers, government regulations regarding the protection features, corporates eyeing a deduction in delivery & transportation cost, and the growing requirement for the efficient yet feature-rich modern trucks to drive the semi-autonomous and autonomous trucks. Therefore, in the near years, it is predicted that the market of the semi-autonomous and autonomous truck will increase around the globe more effectively over the upcoming years with an effective amount of investment by the organized and unorganized players.
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Ankur Gupta, Head Marketing & Communications