According to the current analysis of Reports and Data, the global Assistive Truck Platooning market was valued at USD 1,165.6 Million in 2020 and is projected to grow at a CAGR of 30.10% from 2020 to 2028. The increasing government regulations related to the reduction of emissions as well as the rising demand for lowering the fuel consumption are the major factors for the growth of the Assistive Truck Platooning market. Another factor that is boosting the growth of the Assistive Truck Platooning market is the rising adoption of Internet of Things (IoT). The factor restraining the growth of the market is the high cost of technology. Another factor that will hinder the growth of the market is the quality of the roads need to be good enough.

One of the primary benefits of Assistive Truck Platooning is fuel efficiency. By driving in a close-following formation, trucks can reduce drag and save fuel. This technology can also help reduce carbon emissions, which is a major concern for governments and companies around the world. Additionally, Assistive Truck Platooning can improve safety by reducing the risk of accidents caused by human error, and by providing real-time data on road conditions and hazards.

In conclusion, the Assistive Truck Platooning market is expected to grow significantly in the coming years, driven by the need to reduce carbon emissions, the increasing demand for fuel-efficient transportation, and the growing focus on road safety. The technology offers several benefits, including reduced fuel consumption, improved safety, and improved traffic flow. However, there are also challenges to adoption, including the need for standardization and interoperability, and the need for public awareness and acceptance of Assistive and semi-Assistive vehicles.

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Operational effectiveness and cost reduction: Assistive Truck Platooning technology helps increase operational efficiency and lower transportation costs. By reducing fuel consumption by up to 15% and improving delivery speed, fleet owners can save money and improve their financial performance.

Assistive driving technology: The development of Assistive driving technology enables trucks to operate independently with the help of advanced sensors, cameras, and AI-powered algorithms. This reduces the need for human intervention and enhances safety on the roads.

Connectivity and real-time data exchange: The rollout of 5G networks improves connectivity and communication between trucks in a platoon. Real-time data exchange enables synchronized actions, optimizing the platoon's overall effectiveness.

Environmental considerations: The need to lower carbon emissions from the transportation industry is a significant factor driving the adoption of Assistive Truck Platooning. The technology's improvements in fuel efficiency and air resistance reduction result in fewer carbon emissions and less environmental impact.

Increasing demand for dependable transportation solutions: The growing demand for reliable and effective transportation solutions also contributes to the market revenue growth of Assistive Truck Platooning technology. The industry recognizes the benefits of this technology in terms of cost savings, efficiency, and sustainability.

Overall, the adoption of Assistive Truck Platooning technology is driven by a combination of economic, technological, and environmental factors, with the aim of improving operational efficiency, reducing costs, enhancing safety, and minimizing the environmental impact of the transportation industry.

Top Companies Operating in the Global Assistive Truck Platooning Market:

Bendix (U.S.), A B Volvo (Sweden), Continental AG (Germany), Daimler AG (Germany), Aptiv PLC (Ireland), Wabco (France), Navistar, Inc. (U.S.), DAF Trucks (Netherlands), Peloton Technology (U.S.), and Scania AB(Sweden).

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The global market is further segmented into type and application:

Technology (Revenue, USD Million; 2018–2028)

• Adaptive Cruise Control
• Forward Collision Avoidance & Mitigation
• Lane Departure Warning
• Active Brake Assist
• Blind Spot Warning
• Global Positioning System
• Assistive Emergency Braking
• Others

Communication Technology (Revenue, USD Million; 2018–2028)

• V2V
• V2I
• Global Positioning System (GPS)

Platooning Type (Revenue, USD Million; 2018–2028)

• Driver Assistive Assistive Truck Platooning (DATP)
• Assistive Assistive Truck Platooning

Services (Revenue, USD Million; 2018–2028)

• Telematics based
• Platooning based

Technology (Revenue, USD Million; 2018–2028)

• Adaptive Cruise Control
• Forward Collision Avoidance & Mitigation
• Lane Departure Warning
• Active Brake Assist
• Blind Spot Warning
• Global Positioning System
• Assistive Emergency Braking
• Others

Communication Technology (Revenue, USD Million; 2018–2028)

• V2V
• V2I
• Global Positioning System (GPS)

Platooning Type (Revenue, USD Million; 2018–2028)

• Driver Assistive Assistive Truck Platooning (DATP)
• Assistive Assistive Truck Platooning

Services (Revenue, USD Million; 2018–2028)

• Telematics based
• Platooning based

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest

·       The Global Assistive Truck Platooning market is forecast to grow at a rate of 31.65% CAGR to reach a valuation of USD 5.91 Billion in 2026.

·       Major driver for the growth of the market is the increasing demand for lowering the fuel consumption. Another factor that is adding up to the growth of the market are the increasing government regulations related to the reduction of emissions.

·       Rising adoption of Internet of Things (IoT) is another factor that will help the growth of the market over the forecasted period.

·       North America was the largest revenue generating region in the year 2018 on account of large demand for safe and efficient vehicles in the region. The region is forecasted to continue remaining the largest revenue holding region in 2026.

·       The industry includes truck OEMs and the technology providers. Market players are increasingly adopting strategies like mergers & acquisitions alongside the increase in the investments in the industry.

·       DATP segment held the largest share in the market in 2018 on account of nascent stage of the Assistive Truck Platooning systems. However, with the increasing automation in the industry, the demand for Assistive Assistive Truck Platooning segment is forecasted to grow the fastest over the forecast period. Assistive Assistive Truck Platooning segment was valued at USD 301.83 million in 2018.

·       Volvo has been actively supporting the platooning concept since a long time due to the benefits that the freight companies associated. In 2018, the company partnered with FedEx and North Carolina Turnpike Authority to successfully demonstrate Assistive Truck Platooning.

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