Truck Platooning Market

Truck Platooning Market is projected to grow from US$ 37.05 Mn in 2021, at a CAGR of 60.96% during the forecast period. Platooning is very useful in the automotive market with the aim to improve safety, fuel efficiency, and decrease pollution. The platoon works with the first truck acting as a leader and other vehicles behind the trucks adapting to the changes in the movement of the first trucks and the trucks maintain a set close distance between each other. A truck platoon is similar to trains compartment like the arrangement but with physical disconnects. The truck at the head of the platoon acts as the leader, with the vehicles behind reacting and adapting to changes in its movement requiring little to no action from drivers. The rise in the number of road accidents due to driver error and increase in focus on reducing transportation operating cost will fuel the demand for the truck platooning market. Truck platooning is expected to increase the demand in sectors such as road development, transportation, logistics, and information technology because of the rise in demand for automated technologies. It makes road transport more efficient, safer, and cleaner is another factor driving the overall market.Truck platooning market is segmented into type, system, sensor, component, technology, and region. On the Basis of type, the driver-assistive truck platooning (DATP) segment is projected to hold the largest share in the truck platooning market. DATP helps drivers detect and make enough space for any vehicle that comes in between the platooning trucks with the help of state-of-the-art safety technology. In terms of system, adaptive cruise control (ACC) is projected to be the fastest growing segment of the truck platooning market. ACC helps to automate the speed of the trucks with the help of V2V communication. Based on the sensor, the number of image sensors used in truck platooning depends on the level of autonomy and the number of trucks involved in the platoon. By component, RADAR base collision mitigation segment accounts for the largest market share of Truck Platooning market and is estimated to lead the overall market in the upcoming years. Based on technology, DSRS Vehicle to Vehicle Communication is a major segment that accounts for the largest market share of Truck Platooning market and is estimated to lead the overall market in the year to come. In terms of region, the truck platooning market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Europe is projected to be the fastest growing region in the truck platooning market. The reason being, it holds high potential for the truck platooning system and smart mobility and developed ICT infrastructure. Some of the key players in the truck platooning market are Peloton Technology, Volvo Group, Scania, Daimler, Navistar, Toyota, Bendix Commercial Vehicles Systems, DAF, Continental Ag. The Scope of the Truck Platooning Market Truck Platooning Market by Type • driver assistive truck platooning • Autonomous Truck Platooning Market by System • adaptive cruise control • Automated Emergency Braking • Global Positioning System • Human Machine Interface • Lane Keep Assist • Blind Spot Warning Truck Platooning Market by Sensor • Lidar • Radar • Image Truck Platooning Market by Component • forward-looking camera • rear time camera • driver-centric design • radar base collision mitigation Truck Platooning Market by Technology • acceleration & braking controller • GPS • cellular & Wi-Fi communication • V2V communication Truck Platooning Market by Geography • North America • Europe • Asia-pacific • Middle East & Africa • Latin America Key Players operating in the Truck Platooning Market • Peloton Technology • Volvo Group • Scania • Daimler • Navistar • Toyota • Bendix Commercial Vehicles Systems • DAF • Continental Ag • OTTO MOTORS • Meritor WABCO • Iveco • Paccar • MANMaximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.