Autonomous Commercial Vehicle Market Report 2020-30: COVID-19 Growth and Change

The global autonomous commercial vehicle market is expected to grow from $4.5 billion in 2019 to $35.3 billion by 2023, with a compound annual growth rate (CAGR) of 33.2%. The market is driven by the increasing adoption of autonomous technology in the transportation industry, with companies like Daimler AG and Volkswagen acquiring technology and robotics companies to develop advanced technologies.

Key Takeaways:

• The autonomous commercial vehicle market is segmented by vehicle type, including trucks, trailers, buses, and others, with trucks being the largest segment.
• The market is also segmented by automation level, including driver assistance, partial automation, conditional automation, high automation, and full automation, with full automation being the fastest-growing segment.
• The major players in the market are acquiring technology and robotics companies to develop advanced technologies, with Daimler AG agreeing to purchase majority stakes in Torc Robotics in March 2019.
• The market is expected to grow at a CAGR of 33.2% from 2019 to 2023, driven by increasing adoption of autonomous technology.
• The report covers the autonomous commercial vehicle market's segments, including vehicle, automation level, and fuel type, with the global market size and growth rates provided for each segment.
• The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
• The report provides a comprehensive analysis of the market, including executive summary, market characteristics, market size and growth, market segmentation, regional and country analysis, and key mergers and acquisitions.

Statistics:

• Global autonomous commercial vehicle market size: $4.5 billion in 2019 (Table 1), expected to reach $35.3 billion by 2023 (Table 2)
• CAGR of the market: 33.2% from 2019 to 2023 (Table 2)
• Market segmentation by vehicle type: trucks, trailers, buses, and others (Table 3)
• Market segmentation by automation level: driver assistance, partial automation, conditional automation, high automation, and full automation (Table 4)
• Market segmentation by fuel type: conventional, hybrid, and electric (Table 5)
• Major players: Daimler AG, Volkswagen, Tesla, Denso, and Continental (Table 26)

Sources:

• The Business Research Company: Autonomous Commercial Vehicle Market Report 2020
• The Business Research Company: Global Historic Market Growth (Table 1), Global Forecast Market Growth (Table 2)
• The Business Research Company: Table 3, Table 4, Table 5
• M2 PressWIRE: July 8, 2020
• The Business Research Company: Autonomous Commercial Vehicle Market Report 2020-30: COVID-19 Growth and Change