The Truck Platooning Market Size was valued at USD 97.51 million in 2023 and is expected to reach USD 4413.01 million by 2031 and grow at a CAGR of 61.05% over the forecast period 2024-2031.
The truck platooning market is driven by a several of factors seeking to optimize efficiency and safety in the trucking industry. Rising fuel costs, a major expense for carriers, can be reduced by up to 20% through improved fuel efficiency achieved in platoons due to reduced aerodynamic drag.
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Furthermore, a chronic shortage of qualified drivers is being addressed by platooning technology, with estimates suggesting a reduction in driver workload by up to 60%. Governments are actively involved in promoting this technology. The European Union's ENSEMBLE project, a consortium including truck manufacturers like IVECO, is a prime example of government-backed initiatives promoting the market forward. This confluence of economic and safety benefits, along with government support, is creating a strong demand for truck platooning technology.
Trade tensions between the US and China, the world's two largest economies, could disrupt crucial technology partnerships. A recent survey found that 42% of industry experts believe trade barriers will significantly hinder truck platooning development. Additionally, government initiatives play a vital role. In Europe, for instance, the European Commission has invested US$18.7 million in a large-scale platooning trial, aiming to establish safety regulations by 2025.
KEY DRIVERS:
A key driver is associated with the rapid growth of technology.
A rise in environmental concerns and safety standards.
Well-established technology infrastructure that fuels market demand.
The truck platooning market thrives on a foundation of mature technologies. Adaptive Cruise Control (ACC), a prevalent feature in modern vehicles, forms the backbone by automatically maintaining safe distances between trucks. This is supported by Vehicle-to-Vehicle (V2V) communication systems like Dedicated Short-Range Communication (DSRC), expected to be the fastest-growing segment at over 80% by 2031. DSRC facilitates real-time data exchange between trucks, enabling precise coordination and improved safety. Recognizing these benefits, governments are actively promoting platooning. For instance, the European Union's "European Truck Platooning Challenge" successfully demonstrated platooning's potential.
RESTRAINTS:
Another factor limiting market expansion in these locations is the low per capita income.
Low infrastructure has resulted in a lower market share.
The high cost of technology is likely to operate as a limitation on market expansion.
While the potential benefits of truck platooning like fuel efficiency and improved road safety are undeniable, the high cost of implementation stands as a significant hurdle to widespread adoption. Equipping trucks with the necessary sensors, communication technology, and automation systems represents a hefty upfront investment for trucking companies. A study found that the initial cost per truck could range from $10,000 to $40,000. Governments around the world are recognizing this challenge and launching initiatives to bridge the gap.
OPPORTUNITIES:
Government initiatives are rising as well, which opens up new possibilities for development in this area.
Self-driving trucks will lower shipping costs and boost road safety by reducing accidents.
Self-driving trucks hold immense potential to revolutionize the logistics industry. By automating long-haul transportation, these vehicles can significantly reduce shipping costs. Driver salaries, a major expense, can be minimized as self-driving trucks operate tirelessly without breaks. Additionally, fuel efficiency can be optimized through improved route planning and constant speed maintenance. Furthermore, self-driving trucks promise to enhance road safety. Human error is a leading cause of truck accidents, and autonomous vehicles programmed with strict adherence to traffic laws can drastically reduce these incidents.
CHALLENGES:
Acceptance by carriers, drivers, and other road users is a fundamental challenge in truck platooning.
Concern around the privacy of data and the legislation surrounding cyber security.
Disruptions in global supply chains, particularly the shortage of semiconductor chips crucial for autonomous vehicle technology, are expected to delay the widespread adoption of truck platooning by an estimated 12-18 months. This translates to a potential decrease in demand of up to 15% in 2024 compared to pre-war projections. Additionally, the war has driven up the cost of essential components like LiDAR sensors and radar systems by an average of 8%, further squeezing profit margins for key players like Daimler Trucks and platooning tech developers like Peloton Technology. These combined factors paint a challenging near-term picture for the Truck Platooning market. However, the long-term potential for increased fuel efficiency and reduced emissions remains strong, and industry leaders are likely to adapt and persevere as the global situation stabilizes.
Trucking companies, facing tighter budgets and potentially lower freight demand, may be less willing to invest in the upfront costs of this new technology. Equipping a single truck for platooning can range from $15,000 to $40,000, a significant expense during an economic downturn. This hesitation could stifle the initial demand for platooning systems, which was projected to grow by double digits annually. Major players like Daimler and Volvo have already partnered to develop platooning technology, but widespread adoption hinges on trucking companies being convinced of the return on investment. While platooning promises fuel savings of up to 10%, economic slowdowns make companies prioritize immediate cash flow over long-term efficiency gains. This slowdown might delay the widespread adoption of truck platooning, but it could also be an opportunity for companies to refine the technology and bring down costs, positioning them for a stronger market rebound.
By Platooning Type:
Driver-assistive Truck Platooning (DATP)
Autonomous Truck Platooning
The truck platooning market is segmented by the level of automation employed, with Driver-assistive Truck Platooning (DATP) currently holding the dominant position. DATP utilizes advanced driver-assistance systems (ADAS) like adaptive cruise control and lane departure warning to support human drivers in maintaining tight formations. This translates to significant fuel efficiency gains due to reduced aerodynamic drag. Developed nations are at the forefront of DATP adoption, implementing the technology on designated highways to capitalize on operational cost reductions. However, the future lies in Autonomous Truck Platooning (ATP), which completely removes the human element from the equation. While ATP offers even greater efficiency and safety potential, widespread adoption hinges on advancements in sensor technology, vehicle-to-vehicle communication, and regulatory frameworks.
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By Service Type:
Telematics Based Services
Automatic Crash Notification
Emergency Calling
On-Road Assistance
Vehicle Tracking
Others
Platooning Based Services:
Pricing
Financial Transactions:
Match Making
By System Type:
Adaptive Cruise Control (ACC)
Blind Spot Warning (BSW)
Global Positioning System (GPS)
Forward Collision Warning (FCW)
Lane Keep Assist (LKA)
Others
Adaptive Cruise Control (ACC) dominates, anticipated to be the fastest-growing segment due to its critical role in maintaining consistent speed within platoons. This technology leverages vehicle-to-vehicle communication (V2V) for seamless automation. Following closely are safety-focused systems like Forward Collision Warning (FCW) and Lane Keep Assist (LKA), likely holding significant shares around 20-25% each. These systems provide crucial safeguards during platooning, preventing potential accidents. Blind Spot Warning (BSW) is another essential system, accounting for an estimated 15-20% share. Finally, the "Others" segment encompasses a range of emerging technologies like platooning maneuver support systems and V2X communication, expected to contribute a combined 10-15% share. This segment is poised for significant growth as platooning technology matures.
By Components:
Sensors
RADAR
LIDAR
Camera
GPS
SNS Insider estimates suggest RADAR holds the largest share around 40% due to its affordability and long-range capability. LIDAR follows closely approximately 30% due to its superior accuracy. Cameras holds 20% and GPS around 10% capture the remaining market share, with their importance expected to grow as platooning technology matures. This component-wise analysis highlights the critical role of sensors in enabling truck platooning and provides a directional understanding of the market landscape.
North America currently holds the dominant position, contributing roughly 40% of the market share. This dominance can be attributed to a strong focus on technological advancements, supportive government regulations, and the presence of major players like Daimler and Volvo. Europe follows closely behind with a share of approximately 35%, driven by a well-developed infrastructure and growing environmental concerns.
Asia-Pacific is a promising region with a projected high CAGR, driven by rapid economic development and increasing investments in logistics infrastructure. However, its current market share remains modest at around 20% due to regulatory hurdles and fragmented markets. The remaining 5% is attributed to the LAMEA region (Latin America, Middle East, and Africa), where adoption is slow due to limited infrastructure and technological maturity.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Continental AG, AB Volvo, Bendix Commercial Vehicles Systems LLC, Meritor Wabco, Daimler AG, Delphi Automotive PLC, Navistar International Corporation, OTTO Technologies, Peloton Technology, and Scania AB are some of the affluent competitors with significant market share in the Truck Platooning Market.
Leading European manufacturers like IVECO took a collaborative approach in March 2022, contributing to a successful EU-funded project that demonstrated the viability of multi-brand platooning technology. This project highlights the industry's push for broader compatibility.
Scania's acquisition of Nantong Gaokai, a Chinese truck manufacturer, signifies their intent to promote fuel-efficient technologies like platooning in the world's largest auto market. This focus on new markets reflects the global potential of truck platooning.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 97.51 Million |
| Market Size by 2031 | US$ 4413.01 Million |
| CAGR | CAGR of 61.05% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
|
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Continental AG, AB Volvo, Bendix Commercial Vehicles Systems LLC, Meritor Wabco, Daimler AG, Delphi Automotive PLC, Navistar International Corporation, OTTO Technologies, Peloton Technology, and Scania AB |
| Key Drivers | •A further driver of this region's demand is the rapid growth of technology. •A rise in environmental concerns and safety standards. |
| RESTRAINTS | •Another factor limiting market expansion in these locations is the low per capita income. •Low infrastructure has resulted in a lower market share. |
Truck Platooning Market Expected to reach USD 4413.01 million by 2031.
Truck Platooning Market grow at a CAGR of 61.05% over the forecast period 2024-2031.
Truck platooning is when two or more trucks are linked together in a convoy using automated driving assistance systems and ways for the trucks to talk to each other.
Disruptions in global supply chains, particularly the shortage of semiconductor chips crucial for autonomous vehicle technology, are expected to delay the widespread adoption of truck platooning by an estimated 12-18 months.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Truck Platooning Market Segmentation, By Platooning Type:
9.1 Introduction
9.2 Trend Analysis
9.3 Driver-assistive Truck Platooning (DATP)
9.4 Autonomous Truck Platooning
10. Truck Platooning Market Segmentation, By Service Type
10.1 Introduction
10.2 Trend Analysis
10.3 Telematics Based Services
10.3.1 Automatic Crash Notification
10.3.2 Emergency Calling
10.3.3 On-Road Assistance
10.3.4 Vehicle Tracking
10.3.5 Others
10.4 Platooning Based Services:
10.4.1 Pricing
10.4.2 Financial Transactions:
10.4.3 Match Making
11. Truck Platooning Market Segmentation, By System Type:
11.1 Introduction
11.2 Trend Analysis
11.3 Adaptive Cruise Control (ACC)
11.4 Blind Spot Warning (BSW)
11.5 Global Positioning System (GPS)
11.6 Forward Collision Warning (FCW)
11.7 Lane Keep Assist (LKA)
11.8 Others
12. Truck Platooning Market Segmentation, By Service Types
12.1 Introduction
12.2 Trend Analysis
12.3 Sensors
12.4 RADAR
12.5 LIDAR
12.6 Camera
12.7 GPS
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 Trend Analysis
13.2.2 North America Truck Platooning Market by Country
13.2.3 North America Truck Platooning Market By Platooning Type
13.2.4 North America Truck Platooning Market By Service Type
13.2.5 North America Truck Platooning Market By System Type
13.2.6 North America Truck Platooning Market By Service Type
13.2.7 USA
13.2.7.1 USA Truck Platooning Market By Platooning Type
13.2.7.2 USA Truck Platooning Market By Service Type
13.2.7.3 USA Truck Platooning Market By System Type
13.2.7.4 USA Truck Platooning Market By Service Type
13.2.8 Canada
13.2.8.1 Canada Truck Platooning Market By Platooning Type
13.2.8.2 Canada Truck Platooning Market By Service Type
13.2.8.3 Canada Truck Platooning Market By System Type
13.2.8.4 Canada Truck Platooning Market By Service Type
13.2.9 Mexico
13.2.9.1 Mexico Truck Platooning Market By Platooning Type
13.2.9.2 Mexico Truck Platooning Market By Service Type
13.2.9.3 Mexico Truck Platooning Market By System Type
13.2.9.4 Mexico Truck Platooning Market By Service Type
13.3 Europe
13.3.1 Trend Analysis
13.3.2 Eastern Europe
13.3.2.1 Eastern Europe Truck Platooning Market by Country
13.3.2.2 Eastern Europe Truck Platooning Market By Platooning Type
13.3.2.3 Eastern Europe Truck Platooning Market By Service Type
13.3.2.4 Eastern Europe Truck Platooning Market By System Type
13.3.2.5 Eastern Europe Truck Platooning Market By Service Type
13.3.2.6 Poland
13.3.2.6.1 Poland Truck Platooning Market By Platooning Type
13.3.2.6.2 Poland Truck Platooning Market By Service Type
13.3.2.6.3 Poland Truck Platooning Market By System Type
13.3.2.6.4 Poland Truck Platooning Market By Service Type
13.3.2.7 Romania
13.3.2.7.1 Romania Truck Platooning Market By Platooning Type
13.3.2.7.2 Romania Truck Platooning Market By Service Type
13.3.2.7.3 Romania Truck Platooning Market By System Type
13.3.2.7.4 Romania Truck Platooning Market By Service Type
13.3.2.8 Hungary
13.3.2.8.1 Hungary Truck Platooning Market By Platooning Type
13.3.2.8.2 Hungary Truck Platooning Market By Service Type
13.3.2.8.3 Hungary Truck Platooning Market By System Type
13.3.2.8.4 Hungary Truck Platooning Market By Service Type
13.3.2.9 Turkey
13.3.2.9.1 Turkey Truck Platooning Market By Platooning Type
13.3.2.9.2 Turkey Truck Platooning Market By Service Type
13.3.2.9.3 Turkey Truck Platooning Market By System Type
13.3.2.9.4 Turkey Truck Platooning Market By Service Type
13.3.2.10 Rest of Eastern Europe
13.3.2.10.1 Rest of Eastern Europe Truck Platooning Market By Platooning Type
13.3.2.10.2 Rest of Eastern Europe Truck Platooning Market By Service Type
13.3.2.10.3 Rest of Eastern Europe Truck Platooning Market By System Type
13.3.2.10.4 Rest of Eastern Europe Truck Platooning Market By Service Type
13.3.3 Western Europe
13.3.3.1 Western Europe Truck Platooning Market by Country
13.3.3.2 Western Europe Truck Platooning Market By Platooning Type
13.3.3.3 Western Europe Truck Platooning Market By Service Type
13.3.3.4 Western Europe Truck Platooning Market By System Type
13.3.3.5 Western Europe Truck Platooning Market By Service Type
13.3.3.6 Germany
13.3.3.6.1 Germany Truck Platooning Market By Platooning Type
13.3.3.6.2 Germany Truck Platooning Market By Service Type
13.3.3.6.3 Germany Truck Platooning Market By System Type
13.3.3.6.4 Germany Truck Platooning Market By Service Type
13.3.3.7 France
13.3.3.7.1 France Truck Platooning Market By Platooning Type
13.3.3.7.2 France Truck Platooning Market By Service Type
13.3.3.7.3 France Truck Platooning Market By System Type
13.3.3.7.4 France Truck Platooning Market By Service Type
13.3.3.8 UK
13.3.3.8.1 UK Truck Platooning Market By Platooning Type
13.3.3.8.2 UK Truck Platooning Market By Service Type
13.3.3.8.3 UK Truck Platooning Market By System Type
13.3.3.8.4 UK Truck Platooning Market By Service Type
13.3.3.9 Italy
13.3.3.9.1 Italy Truck Platooning Market By Platooning Type
13.3.3.9.2 Italy Truck Platooning Market By Service Type
13.3.3.9.3 Italy Truck Platooning Market By System Type
13.3.3.9.4 Italy Truck Platooning Market By Service Type
13.3.3.10 Spain
13.3.3.10.1 Spain Truck Platooning Market By Platooning Type
13.3.3.10.2 Spain Truck Platooning Market By Service Type
13.3.3.10.3 Spain Truck Platooning Market By System Type
13.3.3.10.4 Spain Truck Platooning Market By Service Type
13.3.3.11 Netherlands
13.3.3.11.1 Netherlands Truck Platooning Market By Platooning Type
13.3.3.11.2 Netherlands Truck Platooning Market By Service Type
13.3.3.11.3 Netherlands Truck Platooning Market By System Type
13.3.3.11.4 Netherlands Truck Platooning Market By Service Type
13.3.3.12 Switzerland
13.3.3.12.1 Switzerland Truck Platooning Market By Platooning Type
13.3.3.12.2 Switzerland Truck Platooning Market By Service Type
13.3.3.12.3 Switzerland Truck Platooning Market By System Type
13.3.3.12.4 Switzerland Truck Platooning Market By Service Type
13.3.3.13 Austria
13.3.3.13.1 Austria Truck Platooning Market By Platooning Type
13.3.3.13.2 Austria Truck Platooning Market By Service Type
13.3.3.13.3 Austria Truck Platooning Market By System Type
13.3.3.13.4 Austria Truck Platooning Market By Service Type
13.3.3.14 Rest of Western Europe
13.3.3.14.1 Rest of Western Europe Truck Platooning Market By Platooning Type
13.3.3.14.2 Rest of Western Europe Truck Platooning Market By Service Type
13.3.3.14.3 Rest of Western Europe Truck Platooning Market By System Type
13.3.3.14.4 Rest of Western Europe Truck Platooning Market By Service Type
13.4 Asia-Pacific
13.4.1 Trend Analysis
13.4.2 Asia-Pacific Truck Platooning Market by Country
13.4.3 Asia-Pacific Truck Platooning Market By Platooning Type
13.4.4 Asia-Pacific Truck Platooning Market By Service Type
13.4.5 Asia-Pacific Truck Platooning Market By System Type
13.4.6 Asia-Pacific Truck Platooning Market By Service Type
13.4.7 China
13.4.7.1 China Truck Platooning Market By Platooning Type
13.4.7.2 China Truck Platooning Market By Service Type
13.4.7.3 China Truck Platooning Market By System Type
13.4.7.4 China Truck Platooning Market By Service Type
13.4.8 India
13.4.8.1 India Truck Platooning Market By Platooning Type
13.4.8.2 India Truck Platooning Market By Service Type
13.4.8.3 India Truck Platooning Market By System Type
13.4.8.4 India Truck Platooning Market By Service Type
13.4.9 Japan
13.4.9.1 Japan Truck Platooning Market By Platooning Type
13.4.9.2 Japan Truck Platooning Market By Service Type
13.4.9.3 Japan Truck Platooning Market By System Type
13.4.9.4 Japan Truck Platooning Market By Service Type
13.4.10 South Korea
13.4.10.1 South Korea Truck Platooning Market By Platooning Type
13.4.10.2 South Korea Truck Platooning Market By Service Type
13.4.10.3 South Korea Truck Platooning Market By System Type
13.4.10.4 South Korea Truck Platooning Market By Service Type
13.4.11 Vietnam
13.4.11.1 Vietnam Truck Platooning Market By Platooning Type
13.4.11.2 Vietnam Truck Platooning Market By Service Type
13.4.11.3 Vietnam Truck Platooning Market By System Type
13.4.11.4 Vietnam Truck Platooning Market By Service Type
13.4.12 Singapore
13.4.12.1 Singapore Truck Platooning Market By Platooning Type
13.4.12.2 Singapore Truck Platooning Market By Service Type
13.4.12.3 Singapore Truck Platooning Market By System Type
13.4.12.4 Singapore Truck Platooning Market By Service Type
13.4.13 Australia
13.4.13.1 Australia Truck Platooning Market By Platooning Type
13.4.13.2 Australia Truck Platooning Market By Service Type
13.4.13.3 Australia Truck Platooning Market By System Type
13.4.13.4 Australia Truck Platooning Market By Service Type
13.4.14 Rest of Asia-Pacific
13.4.14.1 Rest of Asia-Pacific Truck Platooning Market By Platooning Type
13.4.14.2 Rest of Asia-Pacific Truck Platooning Market By Service Type
13.4.14.3 Rest of Asia-Pacific Truck Platooning Market By System Type
13.4.14.4 Rest of Asia-Pacific Truck Platooning Market By Service Type
13.5 Middle East & Africa
13.5.1 Trend Analysis
13.5.2 Middle East
13.5.2.1 Middle East Truck Platooning Market by Country
13.5.2.2 Middle East Truck Platooning Market By Platooning Type
13.5.2.3 Middle East Truck Platooning Market By Service Type
13.5.2.4 Middle East Truck Platooning Market By System Type
13.5.2.5 Middle East Truck Platooning Market By Service Type
13.5.2.6 UAE
13.5.2.6.1 UAE Truck Platooning Market By Platooning Type
13.5.2.6.2 UAE Truck Platooning Market By Service Type
13.5.2.6.3 UAE Truck Platooning Market By System Type
13.5.2.6.4 UAE Truck Platooning Market By Service Type
13.5.2.7 Egypt
13.5.2.7.1 Egypt Truck Platooning Market By Platooning Type
13.5.2.7.2 Egypt Truck Platooning Market By Service Type
13.5.2.7.3 Egypt Truck Platooning Market By System Type
13.5.2.7.4 Egypt Truck Platooning Market By Service Type
13.5.2.8 Saudi Arabia
13.5.2.8.1 Saudi Arabia Truck Platooning Market By Platooning Type
13.5.2.8.2 Saudi Arabia Truck Platooning Market By Service Type
13.5.2.8.3 Saudi Arabia Truck Platooning Market By System Type
13.5.2.8.4 Saudi Arabia Truck Platooning Market By Service Type
13.5.2.9 Qatar
13.5.2.9.1 Qatar Truck Platooning Market By Platooning Type
13.5.2.9.2 Qatar Truck Platooning Market By Service Type
13.5.2.9.3 Qatar Truck Platooning Market By System Type
13.5.2.9.4 Qatar Truck Platooning Market By Service Type
13.5.2.10 Rest of Middle East
13.5.2.10.1 Rest of Middle East Truck Platooning Market By Platooning Type
13.5.2.10.2 Rest of Middle East Truck Platooning Market By Service Type
13.5.2.10.3 Rest of Middle East Truck Platooning Market By System Type
13.5.2.10.4 Rest of Middle East Truck Platooning Market By Service Type
13.5.3 Africa
13.5.3.1 Africa Truck Platooning Market by Country
13.5.3.2 Africa Truck Platooning Market By Platooning Type
13.5.3.3 Africa Truck Platooning Market By Service Type
13.5.3.4 Africa Truck Platooning Market By System Type
13.5.3.5 Africa Truck Platooning Market By Service Type
13.5.3.6 Nigeria
13.5.3.6.1 Nigeria Truck Platooning Market By Platooning Type
13.5.3.6.2 Nigeria Truck Platooning Market By Service Type
13.5.3.6.3 Nigeria Truck Platooning Market By System Type
13.5.3.6.4 Nigeria Truck Platooning Market By Service Type
13.5.3.7 South Africa
13.5.3.7.1 South Africa Truck Platooning Market By Platooning Type
13.5.3.7.2 South Africa Truck Platooning Market By Service Type
13.5.3.7.3 South Africa Truck Platooning Market By System Type
13.5.3.7.4 South Africa Truck Platooning Market By Service Type
13.5.3.8 Rest of Africa
13.5.3.8.1 Rest of Africa Truck Platooning Market By Platooning Type
13.5.3.8.2 Rest of Africa Truck Platooning Market By Service Type
13.5.3.8.3 Rest of Africa Truck Platooning Market By System Type
13.5.3.8.4 Rest of Africa Truck Platooning Market By Service Type
13.6 Latin America
13.6.1 Trend Analysis
13.6.2 Latin America Truck Platooning Market by country
13.6.3 Latin America Truck Platooning Market By Platooning Type
13.6.4 Latin America Truck Platooning Market By Service Type
13.6.5 Latin America Truck Platooning Market By System Type
13.6.6 Latin America Truck Platooning Market By Service Type
13.6.7 Brazil
13.6.7.1 Brazil Truck Platooning Market By Platooning Type
13.6.7.2 Brazil Truck Platooning Market By Service Type
13.6.7.3 Brazil Truck Platooning Market By System Type
13.6.7.4 Brazil Truck Platooning Market By Service Type
13.6.8 Argentina
13.6.8.1 Argentina Truck Platooning Market By Platooning Type
13.6.8.2 Argentina Truck Platooning Market By Service Type
13.6.8.3 Argentina Truck Platooning Market By System Type
13.6.8.4 Argentina Truck Platooning Market By Service Type
13.6.9 Colombia
13.6.9.1 Colombia Truck Platooning Market By Platooning Type
13.6.9.2 Colombia Truck Platooning Market By Service Type
13.6.9.3 Colombia Truck Platooning Market By System Type
13.6.9.4 Colombia Truck Platooning Market By Service Type
13.6.10 Rest of Latin America
13.6.10.1 Rest of Latin America Truck Platooning Market By Platooning Type
13.6.10.2 Rest of Latin America Truck Platooning Market By Service Type
13.6.10.3 Rest of Latin America Truck Platooning Market By System Type
13.6.10.4 Rest of Latin America Truck Platooning Market By Service Type
14. Company Profiles
14.1 Continental AG
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 AB Volvo
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Bendix Commercial Vehicles Systems LLC
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Meritor Wabco
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Daimler AG
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Delphi Automotive PLC
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Navistar International Corporation
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 OTTO Technologies
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Peloton Technology
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Others
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Autonomous Trucks Market size is expected to reach USD 66.50 Bn by 2030, the market was valued at USD 29.80 Bn in 2022 and will grow at a CAGR of 10.6% over the forecast period of 2023-2030.
The Automotive Turbocharger Market size was valued at USD 14.21 billion in 2023 & will reach USD 24.41 billion by 2031 and grow at a CAGR of 7% by 2024-2031
The Automotive Communication Technology Market Size will reach USD 26.11 billion by 2031 & grow at a CAGR of 15.57% during the Forecast Period 2024-2031
The Automotive Pump Market size was valued at USD 14.962 billion in 2023 and is expected to reach at USD 20.319 billion by 2031 and grow at a CAGR of 3.9% over the forecast period of 2024-2031.
The Automotive Parking Sensors Market Size was valued at USD 12.02 billion in 2023 and is expected to reach USD 38.07 billion by 2031 and grow at a CAGR of 15.5% over the forecast period 2024-2031.
The Flying Car Market Size was valued at USD 116.96 million in 2023 and will reach USD 1368.82 Million by 2031 and growing at a CAGR of 36% by 2024-2031
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