Worldwide Truck Platooning Industry to 2027 – Aptiv, Continental Aktiengesellschaft and Peloton Technology Among Others – QNT Press Release


Dublin, May 04, 2022 (GLOBE NEWSWIRE) — The “Truck Platooning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global truck platooning market reached a value of US$ 1.86 billion in 2021. Looking forward, the market is projected to reach a value of US$ 9.66 billion by 2027, exhibiting a CAGR of 30.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Truck platooning involves the linking of multiple trucks in a convoy through the utilization of modern technologies. It generally employs vehicle-to-vehicle (V2V) communication, radar and sensor technologies for maintaining a close distance between numerous trucks. The deployment of these solutions aids in minimizing greenhouse gas (GHG) emissions and fuel consumption while improving the overall safety of automobiles. Apart from this, truck platooning also streamlines various processes for maintaining an efficient transportation system, which further results in the reduction of traffic congestion.

Global Truck Platooning Market Trends

The global market is primarily driven by continual technological advancements in the automotive sector. This is further supported by the rising adoption of automated technologies and the implementation of Internet of Things (IoT)-enabled devices in various vehicles. For instance, the rising integration of automated driving assistance systems (ADAS) with trucks is creating a positive outlook for the market. Additionally, the growing environmental concerns among the masses are positively influencing the market growth.

Moreover, the implementation of stringent traffic safety norms across the globe due to the increasing incidences of road accidents is also providing a boost to the market growth as truck platooning helps prevent accidents caused due to driver errors. Apart from this, the increasing number of infrastructural development projects and continuous improvements in commercial operations across the logistics sector are considered to be major growth-inducing factors.

Furthermore, the development of autonomous and semi-autonomous trucks that can help reduce transportation costs while improving supply chain efficiency is expected to create a favorable market scenario. Other factors, including rapid digitization and industrialization, increasing investments by public and private firms in product innovation …

Full story available on Benzinga.com



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