Autonomous Trucks Market Size

Autonomous Trucks Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The current market value of the global market for unmanned trucks is expected to reach $ 7.71 billion by 2024 and is expected to reach $ 149.59 billion by 2035. The annual growth rate from 2025 to 2035 is 30.97%. The high growth rate shows a strong demand for automation in the logistics and transportation industry. The high growth rate is driven by the trend of increasing efficiency, cost reduction, and safety in the transport of goods. The use of advanced technology can optimize the operation of enterprises. The market is also driven by the rapid development of artificial intelligence, machine learning, and sensors, which can increase the accuracy of positioning and the reliability of safety. The e-commerce industry is developing rapidly, and the demand for fast logistics is also driving the use of unmanned trucks. The market is dominated by Waymo, Tesla, and Aurora, which have invested heavily in research and development, established strategic cooperation with third parties, and released new products to seize the market. Competition is intense, and the market is growing rapidly. For example, the logistics industry and technology companies have established cooperative relations, and unmanned vehicles are gradually being adapted to the existing logistics industry, which will drive the development of the market.

Regional Market Size

Regional Deep Dive

The global market for self-driving trucks is expected to grow at a substantial CAGR in the forecast period. North America is characterized by the strong presence of key players and substantial investments in research and development. Europe is experiencing a rise in the regulatory support for self-driving vehicles. Asia-Pacific is characterized by the rapid implementation of the technology due to its large logistics network and urbanization trends. Middle East and Africa are slowly but surely adopting the technology, which is influenced by the diversification of economies. Latin America is starting to explore the opportunities for the logistics industry. However, the challenges include lack of proper road network and regulatory issues.

North America

• Among the big companies like Waymo and Tesla, which are developing self-driving trucks, Waymo has formed a partnership with Daimler Trucks to develop self-driving freight solutions.
• The United States government has already taken steps such as the so-called “Automated Vehicles Comprehensive Plan,” which aims to create a regulatory framework for the safe testing and deployment of self-driving vehicles, including trucks.
• Demand for self-driving trucks is rising as e-commerce grows and companies seek to optimize their delivery times and reduce costs.

Europe

• The European Union has launched the European mobility strategy, which includes support for research and development into the use of driverless vehicles, which will have a considerable effect on the trucking sector.
• Scania and Volvo are already testing trucks under real-life conditions. They are involved in a number of pilot projects in Sweden and Germany, with the aim of automating trucks on highways.
• The Germans have passed laws permitting the testing of trucks on public highways.

Asia-Pacific

• China is advancing in the field of driverless vehicles. It is in logistics automation and smart transportation that companies such as Baidu and Alibaba have made the greatest investment.
• The region's increasing urbanization and the need for efficient logistics are driving governments to support the development of driverless vehicles, as can be seen from the Japan's "Society 5.0" vision, which emphasizes smart mobility.
• In Australia, the CIVMEC project is also progressing. Its objective is to integrate unmanned trucks into the mining industry and thus demonstrate the possibilities of this technology for the resource-based industries.

MEA

• DUBAI is one of the first countries in the Middle East to adopt the use of unmanned vehicles. The United Arab Emirates, which has adopted the DUBAI Autonomous Transportation Strategy, aims to transfer a quarter of all transportation in the emirate to unmanned vehicles by the year 2021.
• In the Kingdom of Saudi Arabia, the establishment of smart cities, such as NEOM, is in progress. NEOM, for example, plans to build a logistics system that will include self-driving vehicles, in order to optimize the movement of goods and people.
• Regulations in the region are still under development, but governments are showing increasing interest in regulating these new sectors as part of their economic diversification efforts.

Latin America

• Brazil is beginning to experiment with the use of driverless trucks, and local start-ups and joint ventures are working on the technology, testing it in a series of pilot projects.
• Despite a lack of suitable facilities and difficulties with administrative procedures, there is a growing awareness of the need to modernize the logistics sector.
• In fact, government policies aimed at improving transport efficiency are gradually opening the way to the use of self-driving vehicles for freight transport.

Did You Know?

“By 2025, it is estimated that the cost of transporting goods will be reduced by up to 30 per cent.” — McKinsey & Company

Segmental Market Size

The market for automatic trucks is growing strongly, driven by automation and the need for increased efficiency in the field of logistics. This sector is playing a key role in the transformation of freight transport, as companies seek to reduce costs and improve delivery times. The main reasons for this are the shortage of drivers, which makes it difficult to find qualified personnel, and the need for increased safety in the transport of goods, which can be effectively addressed by the use of automatic trucks.

At present, the market is in the experimental stage, with Waymo and TuSimple as the pioneers of the testing and deployment of trucks in certain regions, especially in the United States and Europe. Long-distance trucks and last-mile delivery are the two main applications of the industry. The trend of promoting the green development of enterprises and the government's low-carbon policy are also the driving forces of the industry. The mainstays are still LiDAR, computer vision and deep learning.

Future Outlook

The market for the development of self-driving trucks is expected to increase from 7.71 billion to 149.9 billion by 2035. Rising labor costs, the growing demand for more efficient logistics and the development of artificial intelligence and sensors are the main reasons for this rapid growth. It is estimated that by 2035, self-driving trucks will account for approximately 25% of the freight transport market, greatly improving the efficiency of companies and reducing transport costs.

“The development of machine learning, lidar and computer vision will allow safe and reliable operation of trucks in a variety of conditions. Government policies and regulations to encourage automation in the transport sector will also help the market grow. And the trend towards integrating electric vehicles into driverless fleets and the development of smart transport systems will also be important. The growing number of companies investing in automation will lead to a number of new strategic alliances and mergers and acquisitions, which will help drive innovation and increase competition.”