ACC is Projected to Dominate the Truck Platooning Market

1. ACC is projected to dominate the Truck Platooning Market The report "Truck Platooning Market by Type (DATP, Autonomous), Systems (ACC, AEB, FCW, GPS, HMI, LKA, BSW), Sensor (Lidar, Radar, Image), Services (Telematics- ECall, ACE, Tracking, Diagnostics, & Platooning- Pricing, Match Making), Region - Global Forecast to 2030", The truck platooning market is projected to grow to USD 2,728.7 million by 2030 from USD 37.6 million in 2021, at a CAGR of 60.96% during the forecast period. Browse 90 market data Tables and 50 Figures spread through 162 Pages and in-depth TOC on "Truck Platooning Market by Type (DATP, Autonomous), Systems (ACC, AEB, FCW, GPS, HMI, LKA, BSW), Sensor (Lidar, Radar, Image), Services (Telematics- ECall, ACE, Tracking, Diagnostics, & Platooning- Pricing, Match Making), Region - Global Forecast to 2030" https://www.marketsandmarkets.com/Market-Reports/truck-platooning-market-157561428.html Early buyers will receive 10% customization on reports. Advancements in ADAS and the shortage of drivers in many countries are expected to drive the market for truck platooning. Additionally, improvements in V2X infrastructure and developments of multi-brand truck platooning will be critical for the growth of this market in coming years. ACC to be the largest market, by system, in the truck platooning market Adaptive cruise control (ACC) is an ADAS feature that uses radar to sense the vehicles in front and adjusts the speed of the vehicle according to the distance between the trucks in platooning. ACC is also called active cruise control, autonomous cruise control, intelligent cruise control, or radar-based cruise control. ACC is an essential system for enabling truck platooning. The cost of this system is on the higher side as it requires expensive sensors such as Radar and LiDAR. As a result, ACC is projected to be the largest market, by system, in the global truck platooning market. Image sensor to be the fastest growing market for truck platooning, by sensor type The image sensor can detect a vehicle’s surrounding environment and provide detailed information. It is mostly used for object and traffic light detection. Currently, both 2D and 3D image sensors are used. The number of image sensors used in truck platooning depends on the level of autonomy and the number of trucks involved in the platoon. Due to the increasing accuracy of object detection, the number of image sensors installed in a truck (for platooning) is expected to increase in the future. In truck platooning, image sensors are used in several applications/systems such as driver drowsiness, blind spot warning, road sign recognition, front monitoring, and lane keep assist. As these applications/systems are key for effective implementatiuon of truck platooning, the image sensor market is projected to be the fastest growing market, by sensor type. The truck platooning market is projected to grow at a CAGR of 60.96% from 2021 to 2030, and the market size is projected to grow from USD 37.6 million in 2021 to USD 2,728.7 million by 2030. The increasing government

2. regulations for vehicle safety, growing adoption of advanced driver assistance systems (ADAS), and significant testing of on-highway platooning are expected to play a significant role in the growth of the truck platooning market. The driver-assistive truck platooning (DATP) segment is projected to hold the largest share in the truck platooning market, by platooning type. Developed countries such as the US, Netherlands, Sweden, and the UK are likely to deploy DATP on roads in the near future. In June 2018, Volvo Trucks North America joined hands with FedEx and the North Carolina Turnpike Authority to demonstrate on-highway truck platooning in North Carolina. Adaptive cruise control (ACC) is projected to be the fastest growing segment of the truck platooning market, by systems. ACC is an essential system for truck platooning operations. ACC helps to automate the speed of the trucks with the help of V2V communication. Image sensor is projected to be the largest segment of the truck platooning market, by sensor type. In truck platooning, image sensors are used in several applications such as driver drowsiness, blind spot warning, road sign recognition, front monitoring, and lane keep assist. Due to the increasing accuracy of object detection, the number of image sensors used in truck platooning is expected to increase in the future. The telematics-based services segment is projected to be the largest segment in the truck platooning market, by services. The adoption rate of telematics-based services is projected to grow in truck platooning owing to the rising concerns regarding maintenance notifications, duration of maintenance services, and reduced operational costs. More about Truck Platooning Market Americas is estimated to be the leading market for truck platooning The transportation market in the Americas, which slowed down temporarily due to the financial downturn during 2007–2009, is now undergoing moderate growth. The transportation industry, particularly in the US and Canada, has seen an increasing trend of downsizing and rightsizing the overall market for transportation. Market growth will likely be driven by two key factors—rapid development of autonomous vehicle technology and the strict government regulations for road safety. The significant platooning testing and increased funding from the government are expected to play a major role in the development of this technology. In 2016, the US government spent USD 4.00 billion to accelerate the acceptance of autonomous vehicles on US roads. In September 2017, Daimler Trucks North America announced the testing of truck platooning operations on public highways of Oregon and Nevada in the US. The above-mentioned factors, coupled with projected driver shortage and presence of long and connected highway infrastructure, will drive the growth of the Americas market for truck platooning. The companies profiled in the report include Volvo (Sweden), Daimler (Germany), Scania (Sweden), Continental AG (Germany), Bosch (Germany), Intel (US), NVIDIA (US), Peloton (US), Omnitracs (US), and others.

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