According to the research report titled ‘Autonomous Truck Market Share, Size, Trends, Industry Analysis Report By Level of Autonomy; By Sensor Type; By End-Use; By Region - Segment Forecast, 2020 - 2027‘, available with Market Study Report, global autonomous truck market is anticipated to reach a valuation of USD 2.14 billion by the year 2027.
 

Shifting of manufacturing facilities to emerging nations, technological advancements, and improving economic conditions are the major factors expected to drive the global autonomous truck market growth, cites the study.
 

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Furthermore, increase in shipment of autonomous vehicles in the recent past, has encouraged truck manufacturers or new entrants to invest in this novel technology. In addition, high labor costs is likely to accelerate the adoption of self-driving trucks that ensure reduction of risk and errors with minimal human input, especially in developing nations, thereby positively influencing the global autonomous truck market outlook.  
 

For those uninitiated, self-driving trucks are considered far more environment-friendly in comparison to standard trucks as they operate on electricity, consume less gas and oil, ultimately reducing fuel emissions. Benefits like -speed, energy efficiency, and affordable costs are further strengthening the product demand. Besides, surging demand for vehicles in urban mobility and modern logistics sector, along with rising traffic congestion is enhancing the business landscape of global autonomous truck market.
 

On the contrary, rising threat of hackers, and spike in number of cybercrimes are likely to hamper the expansion of global autonomous truck market during the forecast period.  
 

Based on autonomy level, the global autonomous truck market is segmented into level 5, level 4, level 3, level 2, level 1. With respect to sensor type, the industry is classified into LiDAR, radar, ultrasonic and camera. Speaking of end-use spectrum, the market is segmented into construction & manufacturing, port, logistics, and mining.
 

Considering the regional outlook, global autonomous truck market size spans across North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
 

Key players operating in global autonomous truck market are Volkswagen AG, Daimler AG, Robert Bosch GmbH, Uber Technologies, Inc., BMW Group, Continental AG, PACCAR, Inc., Ford Motor Co., Denso Corporation, Toyota Motor Corporation, Aptiv PLC, AB Volvo Group, Alphabet, Inc. (Waymo), Tesla, Inc., General Motors Co., Embark Trucks, Inc., and TuSimple, Inc.