Platooning On Highways Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0075287
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 9.41 |
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Platooning on Highways Market Analysis Report 2023-2032:
The Platooning on Highways Market size is projected to experience a robust CAGR of 6.25% during the period from 2022 to 2032. This growth is expected to result in an increase in market size by approximately USD 9,782.36 million. The expansion of this market is influenced by several key factors, including advancements in autonomous vehicle technology, the need for fuel efficiency and reduced emissions, and the enhancement of highway safety through automated driving systems.
Platooning on highways refers to a technology-driven approach to vehicle automation, where a group of vehicles travel closely together in a convoy, with one leading vehicle and the others following at a close distance. This concept is made possible through the integration of various technologies such as vehicle-to-vehicle (V2V) communication, radar, lidar, and advanced driver-assistance systems (ADAS).
Platooning on Highways Market Overview
Drivers:
One of the primary drivers of the platooning on highways market is the pursuit of fuel efficiency and reduced emissions. As the automotive industry focuses on sustainability and environmental concerns, platooning technology has emerged as a solution to optimize fuel consumption and minimize greenhouse gas emissions. When vehicles travel in close formation, they experience reduced air resistance, resulting in improved fuel efficiency. This is particularly important as governments worldwide tighten emissions regulations, making platooning an attractive option for fleet operators and transportation companies.
Furthermore, the advancement of autonomous vehicle technology plays a pivotal role in market growth. The development of self-driving vehicles has opened up opportunities for safer and more efficient platooning operations. Autonomous vehicles equipped with sophisticated sensors and software can maintain precise distances between vehicles, react swiftly to changing traffic conditions, and ensure the safety of passengers and cargo.
Trends:
A significant trend shaping the platooning on highways market is the integration of artificial intelligence (AI) and machine learning (ML) algorithms. These technologies enhance the capabilities of autonomous vehicles within platooning systems. AI and ML algorithms enable vehicles to learn from their surroundings, predict traffic patterns, and make real-time decisions to optimize convoy operations.
Moreover, the rise of connected infrastructure and smart highways is contributing to market growth. Advanced infrastructure components such as intelligent traffic management systems, V2V communication networks, and vehicle-to-infrastructure (V2I) technology are becoming more prevalent. These developments enable seamless coordination between vehicles and infrastructure, enhancing the safety and efficiency of platooning operations.
Restraints:
Despite its potential, the platooning on highways market faces challenges related to regulatory hurdles and public acceptance. Policymakers and regulatory bodies need to establish clear guidelines and standards for the safe operation of platooning systems. Public perception and trust in autonomous driving technology also play a crucial role, and overcoming skepticism may take time.
Additionally, the initial investment required for the deployment of platooning systems can be substantial. Fleet operators and transportation companies must invest in advanced sensors, communication equipment, and vehicle modifications, which can strain budgets. Overcoming these financial barriers is essential for the widespread adoption of platooning technology.
Platooning on Highways Market Segmentation By Application
The logistics and freight transportation segment is expected to experience substantial growth throughout the forecast period. Platooning technology offers significant advantages in the logistics industry, where efficient and cost-effective transportation of goods is paramount. Reduced fuel consumption, improved road safety, and the ability to operate with minimal human intervention make platooning an attractive option for logistics companies looking to enhance their operations.
The passenger vehicles segment is also anticipated to grow as automakers continue to develop autonomous passenger vehicles equipped with platooning capabilities. Commuters and long-distance travelers can benefit from the comfort and safety of platooning, which allows for hands-free driving and reduced congestion on highways.
Platooning on Highways Market Segmentation By Type
The autonomous platooning segment is expected to dominate the market due to the increasing adoption of autonomous driving technology. Fully autonomous platooning systems offer the highest level of automation, allowing vehicles to operate without human intervention. This level of autonomy enhances safety, efficiency, and the overall effectiveness of platooning on highways.
Regional Overview:
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Request pdf SampleNorth America is expected to play a significant role in the growth of the global platooning on highways market, contributing approximately 35% to market expansion during the forecast period. The region is home to numerous technology companies and automakers actively developing platooning solutions. Furthermore, North America's extensive highway infrastructure and stringent emissions regulations create a conducive environment for the adoption of platooning technology.
Europe is also anticipated to witness substantial growth in the platooning on highways market, driven by the European Union's commitment to reducing carbon emissions and improving road safety. Initiatives promoting the adoption of advanced transportation technologies, coupled with collaborations between automotive manufacturers and technology providers, are likely to boost market growth in the region.
Platooning on Highways Market Customer Landscape
The platooning on highways market report includes an analysis of the customer adoption lifecycle, encompassing innovators, early adopters, early majority, late majority, and laggards. Understanding the adoption rates in different regions and market segments is crucial for companies developing growth strategies.
Major Platooning on Highways Market Companies
Companies operating in the platooning on highways market are employing various strategies to enhance their market presence, including strategic partnerships, mergers and acquisitions, geographical expansion, and product/service launches.
- Alphabet Inc. (Waymo)
- Daimler AG
- Volvo Group
- Uber Technologies, Inc.
- Ford Motor Company
- Tesla, Inc.
- Peloton Technology, Inc.
- Continental AG
- NAVYA
- Baidu, Inc.
Qualitative and quantitative assessments of these companies have been conducted to provide insights into the broader business environment and the strengths and weaknesses of key market players.
Segment Overview
The platooning on highways market report provides revenue forecasts at global, regional, and country levels, along with an analysis of emerging trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032):
- Logistics and Freight Transportation
- Passenger Vehicles
- Public Transportation
- Others
- Type Outlook (USD Million, 2019 - 2032):
- Autonomous Platooning
- Semi-Autonomous Platooning
- Geography Outlook (USD Million, 2019 - 2032):
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- South America
- Brazil
- Argentina
- Chile
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Content
Part 1 Market Overview
1.1 Market Definition
1.2 Market Development
1.3 By Type
1.4 By Application
1.5 By Region
Part 2 Key Companies
2.1 Peloton Technology
2.1.1 Company Profile
2.1.2 Products & Services Overview
2.1.3 Sales Data List
2.2 Volvo Group
2.3 Scania
2.4 Daimler
2.5 Navistar
2.6 Toyota
2.7 Uber
2.8 Bendix Commercial Vehicles Systems
2.9 DAF
2.10 Continental AG
2.11 IVECO
2.12 MAN Truck & Bus
Part 3 Global Market Status and Future Forecast
3.1 Global Market by Region
3.2 Global Market by Company
3.3 Global Market by Type
3.4 Global Market by Application
3.5 Global Market by Forecast
Part 4 Asia-Pacific Market Status and Future Forecast
4.1 Asia-Pacific Market by Type
4.2 Asia-Pacific Market by Application
4.3 Asia-Pacific Market by Geography
4.3.1 China Market Status and Future Forecast
4.3.2 Southeast Asia Market Status and Future Forecast
4.3.3 India Market Status and Future Forecast
4.3.4 Japan Market Status and Future Forecast
4.3.5 Korea Market Status and Future Forecast
4.3.6 Oceania Market Status and Future Forecast
4.4 Asia-Pacific Market by Forecast
Part 5 Europe Market Status and Future Forecast
5.1 Europe Market by Type
5.2 Europe Market by Application
5.3 Europe Market by Geography
5.3.1 Germany Market Status and Future Forecast
5.3.2 UK Market Status and Future Forecast
5.3.3 France Market Status and Future Forecast
5.3.4 Italy Market Status and Future Forecast
5.3.5 Russia Market Status and Future Forecast
5.3.6 Spain Market Status and Future Forecast
5.3.6 Netherlands Market Status and Future Forecast
5.3.7 Turkey Market Status and Future Forecast
5.3.6 Switzerland Market Status and Future Forecast
5.4 Europe Market by Forecast
Part 6 North America Market Status and Future Forecast
6.1 North America Market by Type
6.2 North America Market by Application
6.3 North America Market by Geography
6.3.1 United States Market Status and Future Forecast
6.3.2 Canada Market Status and Future Forecast
6.3.3 Mexico Market Status and Future Forecast
6.4 North America Market by Forecast
Part 7 South America Market Status and Future Forecast
7.1 South America Market by Type
7.2 South America Market by Application
7.3 South America Market by Geography
7.3.1 Brazil Market Status and Future Forecast
7.3.2 Argentina Market Status and Future Forecast
7.3.3 Columbia Market Status and Future Forecast
7.3.4 Chile Market Status and Future Forecast
7.3.5 Peru Market Status and Future Forecast
7.4 South America Market by Forecast
Part 8 Middle East & Africa Market Status and Future Forecast
8.1 Middle East & Africa Market by Type
8.2 Middle East & Africa Market by Application
8.3 Middle East & Africa Market by Geography
8.3.1 GCC Market Status and Future Forecast
8.3.2 North Africa Market Status and Future Forecast
8.3.3 South Africa Market Status and Future Forecast
8.4 Middle East & Africa Market by Forecast
Part 9 Market Features
9.1 Product Features
9.2 Price Features
9.3 Channel Features
9.4 Purchasing Features
Part 10 Investment Opportunity
10.1 Regional Investment Opportunity
10.2 Industry Investment Opportunity
Part 11 Conclusion
Table Type of Platooning on Highways
Table Application of Platooning on Highways
Table Peloton Technology Overview List
Table Platooning on Highways Business Operation of Peloton Technology (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Volvo Group Overview List
Table Platooning on Highways Business Operation of Volvo Group (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Scania Overview List
Table Platooning on Highways Business Operation of Scania (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Daimler Overview List
Table Platooning on Highways Business Operation of Daimler (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Navistar Overview List
Table Platooning on Highways Business Operation of Navistar (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Toyota Overview List
Table Platooning on Highways Business Operation of Toyota (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Uber Overview List
Table Platooning on Highways Business Operation of Uber (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Bendix Commercial Vehicles Systems Overview List
Table Platooning on Highways Business Operation of Bendix Commercial Vehicles Systems (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table DAF Overview List
Table Platooning on Highways Business Operation of DAF (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Continental AG Overview List
Table Platooning on Highways Business Operation of Continental AG (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table IVECO Overview List
Table Platooning on Highways Business Operation of IVECO (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table MAN Truck & Bus Overview List
Table Platooning on Highways Business Operation of MAN Truck & Bus (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Global Platooning on Highways Market by Region, 2015-2019 (Million USD)
Table Global Platooning on Highways Market by Region, 2015-2019 (Volume)
Table Price List by Region, 2015-2019
Table Global Platooning on Highways Market by Company, 2015-2019 (Million USD)
Table Global Platooning on Highways Market by Company, 2015-2019 (Volume)
Table Price List by Company, 2015-2019
Table Global Platooning on Highways Market by Type, 2015-2019 (Million USD)
Table Global Platooning on Highways Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Global Platooning on Highways Market by Application, 2015-2019 (Million USD)
Table Global Platooning on Highways Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table Asia-Pacific Platooning on Highways Market by Type, 2015-2019 (Million USD)
Table Asia-Pacific Platooning on Highways Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Asia-Pacific Platooning on Highways Market by Application, 2015-2019 (Million USD)
Table Asia-Pacific Platooning on Highways Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table Europe Platooning on Highways Market by Type, 2015-2019 (Million USD)
Table Europe Platooning on Highways Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Europe Platooning on Highways Market by Application, 2015-2019 (Million USD)
Table Europe Platooning on Highways Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table North America Platooning on Highways Market by Type, 2015-2019 (Million USD)
Table North America Platooning on Highways Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table North America Platooning on Highways Market by Application, 2015-2019 (Million USD)
Table North America Platooning on Highways Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table South America Platooning on Highways Market by Type, 2015-2019 (Million USD)
Table South America Platooning on Highways Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table South America Platooning on Highways Market by Application, 2015-2019 (Million USD)
Table South America Platooning on Highways Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table Middle East & Africa Platooning on Highways Market by Type, 2015-2019 (Million USD)
Table Middle East & Africa Platooning on Highways Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Middle East & Africa Platooning on Highways Market by Application, 2015-2019 (Million USD)
Table Middle East & Africa Platooning on Highways Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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