The Global Automated Trucks Market was worth US$ 0.68 billion in 2022 and is anticipated to reach a valuation of US$ 1.87 billion by 2028 and is predicted to register a CAGR of 22.60% during 2023-2028.

One of the wonders of AI is automated trucks, commonly referred to as self-driving trucks. These trucks employ Light Detection and Ranging (LiDAR), Radar, and Artificial Intelligence (AI) software, which is utilized to monitor a 60-meter field of view for the vehicle and provide a detailed 3D model of the immediate surroundings. Without a driver, the car was made to travel between places. To track, manage, and operate the vehicle, we use sensors and software.

Automated trucks are catching up and accelerating to quick adoption in end-use industries amidst a sea of innovations driving cutting-edge technology in the automotive industry. The autonomous truck industry has gone green because of the popularity of electrically powered vehicles, making it simpler for manufacturers to overcome environmental obstacles.

Market Drivers and Restraints:

The rush of different sectors toward automated trucks, which are predicted to remain important drivers of the automated trucks market, has been significantly boosted by the lack of drivers in industrialized countries. To determine the development prospects of the whole market, a careful analysis of the sudden spike in sales of these trucks is required. Another important factor influencing the automated truck market is the investments made by leading corporations in automation drives. People are moving more sustainably thanks to technologies like electric automobiles, many of which also have automation, as a result of environmental concerns.

The market for automated trucks is being held back by government limitations, worries about the displacement of some jobs, and public safety worries. The autonomous truck business is fiercely competitive, with numerous regional competitors and numerous other significant MCNs. Few of these businesses are consistently funding R&D to develop better, more intelligent systems. It can be challenging for new businesses to enter the race for market share.

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The report is segmented as follows:

The Automated Trucks Market is segmented by Level of Automation; the Market is segmented by Truck Type; the Market is segmented by End-Use Industry:

By Level of Automation (Level-3, Level-4, Level-5)

By Truck Type (Cab Integrated, Cabless Trucks)

By End-Use Industry (Mining, Logistics, Construction, and Ports)

Market Regional Segmentation:

Geographically, Asia Pacific is projected to continue to be a significant market for automated trucks due to the rise in Australian demand for these vehicles for mining operations and the likelihood that better road infrastructure would enhance sales to the logistics sector as well. However, there would still be a significant chance for automated trucks to enter wealthy nations like the United States and Japan because to the shortage of drivers in these countries.

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Impact of the COVID-19 pandemic on the market:

Comparatively speaking, this area of the automotive sector was less affected by the COVID-19 pandemic. Due to the lockdown and temporary suspension of international travel brought on by the epidemic, demand for autonomous trucks was only modestly hampered. The market for autonomous trucks is anticipating a recovery in the economy, nevertheless, markets and trade are gradually becoming more open and automated processes are becoming more necessary.

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