Semi-Autonomous & Autonomous Trucks and Buses Market worth $179.9 billion by 2035 | MarketsandMarkets

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Semi-Autonomous & Autonomous Trucks and Buses Market Scope:

Electric segment is expected to be the fastest in the Semi-autonomous & autonomous Trucks and Buses market

The electric segment is expected to be the fastest one during the forecast period. The rising demand for passenger safety and efficient bus transit operations would boost the demand for the electric segment for the advanced semi-autonomous bus market during the forecast period. Favourable government regulations for better road safety would positively impact the semi-autonomous bus market. Features such as AEB and BSD are expected to be compulsory for all vehicles, including buses. In December 2023, Davao Metro Shuttle Corporation (Philippines) launched a self-driving shuttle and its first electric bus, which includes AEB and ACC features.

Shuttle segment is estimated to exhibit the fastest growth in Semi-autonomous & autonomous Trucks and Buses market

The shuttles segment is expected to be the fastest market in the semi-autonomous & autonomous trucks and buses market, as they are commercialized. Navya (US), Easymile (France), and Local Motors (US) have developed self-driving shuttles. Successful pilot programs of autonomous shuttles worldwide indicate that shuttles could be a practical solution to the gaps in traditional public transport. In January 2023, EasyMile (France) partnered with Keolis (France) on an autonomous shuttle project underway at France’s National Sports Shooting. Such partnerships highlight the growth of the shuttles segment in the market.

US to lead the Semi-autonomous & autonomous Trucks and Buses market in North America

The US is expected to have the largest market share in terms of value in the North American semi-autonomous & autonomous trucks and buses market due to strict safety regulations imposed by the NHTSA that have compelled OEMs to provide safety features. Road safety is very critical for efficient transportation. Semi-autonomous buses and trucks can help to improve safety, which, in turn, would boost the market in the region. Major OEMs in the region are forming supply contracts for products like sensors, LiDAR that would further enhance their vehicles performance. For instance, in January 2024, Daimler Truck AG (Germany) and TORC Robotics (US) selected Aeva Technologies (US) to Supply advanced 4D LiDAR technology for series-production of autonomous trucks.

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Semi-Autonomous & Autonomous Trucks and Buses Market Dynamics:

Drivers:

1. Rising adoption of automation technology

Restraints:

1. Lack of infrastructure in developing countries

Opportunities:

1. Surge in demand for truck platooning

Challenge:

1. Regulatory hurdles

Key Market Players Semi-Autonomous & Autonomous Trucks and Buses Industry:

Prominent players in the Semi-Autonomous & Autonomous Trucks and Buses Market include Daimler Truck AG (Germany), AB Volvo (Sweden), Iveco S.p.A. (Netherlands), NVIDIA Corporation (US), Robert Bosch GmbH (Germany), Continental AG (Germany), among others.

The break-down of primary participants is as mentioned below:

• By Company Type: OEMs – 32%, Tier 1 –37% and Tier 2 & 3 – 28%,
• By Designation: CXO – 33%, Managers – 52%, and Executives – 15%
• By Region: North America – 26%, Europe – 30%, Asia Pacific – 35%, and ROW­­-9%

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Semi-Autonomous & Autonomous Trucks and Buses Industry Recent Developments:

• In March 2024, MAN Truck & Bus SE partnered with TRATON GROUP, Scania, Navistar International Inc., and PlusAI, Inc. for autonomous driving for trucks.
• In February 2024, MAN Truck & Bus SE expanded its logistics center in Salzgitter, Germany, strengthening its global service parts network.
• In January 2024, Daimler Truck AG partnered with Aeva Inc. and Torc Robotics to commercialize self-driving vehicle technology to equip its series-produced autonomous trucks with Aeva Inc.’s advanced 4D LiDAR sensors.

Semi-Autonomous & Autonomous Trucks and Buses Market Size – Key Benefits of Buying the Report:

• The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Semi-autonomous & autonomous Trucks and Buses market and the subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on:

• Analysis of key drivers (Increasing emphasis on road safety and traffic control, Growing need to address driver shortage, Rising adoption of autonomous technology, and Favorable government regulations and safety standards), restraints (Cybersecurity and data security concerns, Limited public reception, and Lack of infrastructure in developing countries), opportunities (Integration of 5G technology for vehicle connectivity, Growing utilization of advanced technologies, Increasing demand for truck platooning, and Rising focus on automotive IoT), and challenges (High cost of development and integration and Regulatory hurdles) influencing the growth of the Semi-autonomous & autonomous Trucks and Buses market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Semi-autonomous & autonomous Trucks and Buses market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the Semi-autonomous & autonomous Trucks and Buses market across varied regions. 
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Semi-autonomous & autonomous Trucks and Buses market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Daimler Truck AG (Germany), AB Volvo (Sweden), NVIDIA Corporation (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan) among others in the Semi-autonomous & autonomous Trucks and Buses market.
• Strategies: The report also helps stakeholders understand the pulse of the Semi-autonomous & autonomous Trucks and Buses market and provides them information on key market drivers, restraints, challenges, and opportunities.

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