The Truck Platooning by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In recent years, the truck platooning market, as outlined by The Business Research Company, has experienced remarkable growth, with its size surging from $2.08 billion in 2024 to an anticipated $2.75 billion in the same year, showcasing a noteworthy compound annual growth rate (CAGR) of 31.9%. This expansion is attributed to multifaceted factors, including heightened fuel efficiency, cost savings, regulatory initiatives adhering to emission standards, the optimization of supply chains, and improvements in logistics efficiency, all contributing to enhanced road safety and accident prevention.

Projections for the truck platooning market point towards a trajectory of exponential growth, reaching $7.94 billion by 2028, with a CAGR of 30.4%. This anticipated surge in the forecast period can be linked to sustained emphasis on sustainability, technological strides in connected vehicle technologies, the augmentation of automated driving capabilities, global trade and freight movement dynamics, substantial infrastructure investments, and the advent of smart transportation solutions.

Distinguishing trends in the forthcoming period encompass comprehensive testing and pilot programs, the development of robust cybersecurity measures, seamless integration with connected infrastructure, a heightened focus on driver training and education, and the influx of new players into the market.

The growing sales of commercial vehicles are expected to propel the growth of truck platooning going forward. A commercial vehicle is referred to as a vehicle that moves people or goods for business purposes. Increasing commercial vehicles will create demand for platooning technologies due to which they gain benefits such as increased efficiency, reduced loss, and improved fuel economy. Truck is part of commercial vehicles and as the trucks increase, their need for improving operations or road safety also increases which also creates demand for platooning. For instance, in September 2022, according to Rushlane, an India-based automotive company, sales of commercial vehicles increased from 54,107 units in August 2021 to 67,158 units in August 2022. Therefore, the growing sales of commercial vehicles are driving the growth of truck platooning market.

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The truck platooning market covered in this report is segmented –
1) By Services: Telematic Based Services, Automatic Crash Notification, Emergency Calling, Navigation And Infotainment, On Road Assistance, Remote Diagnostics, Vehicle Tracking, Other Services
2) By Component: Forward Looking Camera, System Display With Rear Time Camera, RADAR Base Collision Mitigation, LiDAR
3) By Platooning Type: Driver-Assistive Tuck Platooning (DATP), Autonomous Truck Platooning
4) By Communication Technology: Vehicle-To-Infrastructure (V2I), Vehicle-To-Vehicle (V2V), Vehicle-To-Everything (V2X)
5) By Autonomous Level: Semi-Autonomous, Full-Autonomous
Noteworthy is the strategic pivot of major companies within the truck platooning sphere, who are proactively embracing novel technologies to fortify their market positions. This strategic adoption of new technologies involves the seamless incorporation of innovative tools, systems, or methodologies into operational frameworks, with the overarching goal of enhancing efficiency, optimizing performance, and gaining a competitive edge.

For example, in September 2024, Resolute Forest Products, a Canada-based pulp and paper company, formerly known as AbitibiBowater Inc., emerged as a trailblazer by advancing off-highway automated vehicle (AV) technology, specifically truck platooning. This groundbreaking endeavor involved testing a pickup truck prototype in various conditions, including both summer and winter. Subsequent phases of the project will scrutinize performance in more demanding scenarios, incorporating loaded freight in cold, icy, and low-light conditions, utilizing full-scale Class 8 Trucks equipped with the innovative RRAI's (Telecom Regulatory Authority of India) AutoDrive autonomous platform. This heralds a pivotal moment in the industry's pursuit of cutting-edge advancements and sustainable solutions.

The truck platooning market report table of contents includes:
1. Executive Summary
2. Truck Platooning Market Characteristics
3. Truck Platooning Market Trends And Strategies
4. Truck Platooning Market - Macro Economic Scenario
5. Global Truck Platooning Market Size and Growth
.....

31. Global Truck Platooning Market Competitive Benchmarking
32. Global Truck Platooning Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Truck Platooning Market
34. Truck Platooning Market Future Outlook and Potential Analysis
35. Appendix

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