The Economic Impact of Autonomous Trucks Market on the Transportation Sector
The autonomous trucks market has seen rapid growth in recent years with improving sensor, navigation and control technologies transforming commercial vehicle transportation. Autonomous trucks utilize sensors and computer control systems to operate independently on highways and interstates with limited to no human interaction. Some of the key advantages of autonomous trucks include improved safety by eliminating human errors, higher truck utilization with drivers not requiring breaks and increased load capacities.
The autonomous trucks market is estimated to be valued at USD 1.49 Bn in 2024 and is expected to reach USD 4.62 Bn by 2031, growing at a compound annual growth rate (CAGR) of 17.55% from 2024 to 2031.
The growing demand for freight transportation and shortage of drivers is a major factor driving the adoption of Autonomous Trucks Market. Annual economic losses attributed to accidents and health issues of commercial drivers amount to billions pushing for safer autonomous alternatives.
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