The global Automotive Platooning System Market accrued earnings worth approximately 2.7 (USD Billion) in 2021 and is predicted to gain revenue of about 30.2 (USD Billion) by 2028, is set to record a CAGR of nearly 54.1% over the period from 2022 to 2028.
The global Automotive Platooning System Market accrued earnings worth approximately 2.7 (USD Billion) in 2021 and is predicted to gain revenue of about 30.2 (USD Billion) by 2028, is set to record a CAGR of nearly 54.1% over the period from 2022 to 2028. The study provides assessment and analysis of the Automotive Platooning System Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).
Automotive Platooning System Market: Overview
Vehicle platooning is an intelligent transport system app that has evolved as potential solution for traffic management in highway. The key concept of automotive platooning system is a set of vehicles travelling together while maintaining a meager distance between them. This can result in rise in traffic capacity along with enhanced traffic management activities as well as reduction in travelling timespan. Precisely, automotive platoon system is viewed as vehicle group travelling in close co-ordination with headway control mechanism. Furthermore, passenger safety & comfort is improved with acceleration & deceleration scenario removed as well platoon vehicle considered as a sole unit.
Automotive Platooning System Market: Growth Dynamics
Platooning provides massive benefits including fuel economy, enhanced road safety, and improved road capacity. This will drive growth of automotive platooning system industry over forecasting timeline. Furthermore, automotive platooning system makes use of myriad techniques for attaining safe & effective transport. Apparently, vehicle platooning tools reduce distance between two automotive through use of mechanical and electronic coupling. In addition to this, it facilitates vehicle to move at rapid pace and stop simultaneously. Moreover, these systems assist in improving fuel efficiency and reducing traffic jams as well as vehicular collisions.
Additionally, thriving vehicle manufacturing sector is set to crop up growth of automotive platooning system industry. Moreover, large numbers of participants are investing majorly in developing automotive platooning systems, thereby creating new growth avenues for automotive platooning system industry. However, key challenges to growth of automotive platooning system industry are technical errors of automotive, impaired drivers, and implementation of novel applications in current road infrastructure.
Automotive Platooning System Market: Regional Landscape
North American Market To Exhibit Tremendous Surge Over Forecast Timeline
Growth of regional market over forecasting period is subject to rise in use of automotive platooning systems in countries such as Canada and the U.S. Furthermore, presence of major players in countries such as the U.S. will multiply automotive platooning system market earnings. Huge focus of market players on minimizing GHG emissions will expedite growth rate of regional market over forecasting period. A prominent increase in utilization of trucks for goods transport will contribute substantially towards automotive industry size, thereby driving regional market trends.
Automotive Platooning System Market: Competitive Outlook
Key players have lucratively impacted business space and are likely to do so even in foreseeable future. They are The Mercedes-Benz Group AG, Continental AG, Peloton Technology, MAN SE, IVECO Group N.V., Scania AB, Volvo Cars, Delphi Technologies, Nokia Growth Partners, Meritor Wabco, Navistar International Corporation, and TomTom N.V.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
The global Automotive Platooning System Market is segmented as follows:
List of Figures
FIG. 1 Market Research Process
FIG. 2 Market Research Methodology
FIG. 3 Global automotive platooning systems market volume, 2015 – 2026 (Units)
FIG. 4 The predicted yearly reduction of CO2, due to truck platooning in million tons of CO2 per year
FIG. 5 Road death per 10,000 vehicles and per 100,000 population 1936 to 2014 in New Zealand
FIG. 6 The worst countries for road traffic fatalities (Road deaths per 100,000 inhabitants in 2013)
FIG. 7 Porter’s five forces analysis for automotive platooning systems market
FIG. 8 Market attractiveness analysis by regional segment
FIG. 9 Global automotive platooning systems market volume share, by region, 2015 & 2026
FIG. 10 North America automotive platooning systems market, 2015 - 2026 (Units)
FIG. 11 Europe automotive platooning systems market, 2015 - 2026 (Units)
FIG. 12 Asia Pacific automotive platooning systems market , 2015 - 2026 (Units)
FIG. 13 Latin America automotive platooning systems market, 2015 - 2026 (Units)
FIG. 14 Middle East and Africa automotive platooning systems market, 2015 - 2026 (Units)
FIG. 15 Revenue by business segment 2015 (USD Million)
FIG. 16 2015 net sale by geography (USD Billion)
FIG. 17 Net revenues by region in the years ended December 31, 2015 (USD Million)
FIG. 18 Net Sale by Product Segment, 2015
FIG. 19 Sales by division of business, 2015 (USD Billion)
FIG. 20 Share of net sales by business area , 2015
FIG. 21 Share of net sales by market (%), 2015
List of Tables
TABLE 1 Global automotive platooning systems market : Snapshot
TABLE 2 Drivers of the automotive platooning system market : Impact Analysis
TABLE 3 Restraints for the automotive platooning system market : Impact Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Automotive Platooning System market. Zion Research has collected and analyzed key data belong to the Global Automotive Platooning System market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Automotive Platooning System across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Automotive Platooning System industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Automotive Platooning System market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Automotive platooning is a group of vehicles which travels in close proximity to each other. The platooning system uses different technologies to attain safe and competent transport. The automotive platooning system reduces carbon dioxide (CO2) emission. Truck platooning consist of two or more trucks driving close behind the platoon leader, with the next truck automatically following the leading truck through vehicle-to-vehicle communication. Further, trucks rely on an abundance of sensors and technologies such as radar and GPS to sense their environment and drive safely. Truck platooning offers the reduction of road freight operational costs owing to fuel savings and possible higher productivity of both driver and truck.
A platoon is a group of vehicles that can run closely together, safely at desired speed. Leading vehicle controls the speed and direction of vehicles, and following vehicles (which have precisely matched braking and acceleration) reacts accordingly to the lead vehicle’s movement.
Road accidents in the emerging regions like Asia Pacific have increased dramatically over the past couple of years. The main reason behind these accidents is congested traffic, growing driver fatigue owing to long working hours and unregulated traffic discipline. The automotive platooning system is projected to be the very profitable market in the near future. Increased safety benefits, fuel efficiency, emission reduction and reduced traffic congestion together stimulate the demand for automotive platooning systems. However, low consumer awareness, lack of adequate infrastructure, and comparatively low maturity of the autonomous vehicle technology in few economies are some of the challenges restraining the growth of this market.
The major players are also participating in several projects such as; PATH, SARTRE, GCDC, and Energy ITS where this technique is tested and verified. The automotive platooning system is projected to be the very profitable market in the near future. Europe accounted for nearly 29.56% of the market share in 2015. Europe is a mature automotive market and holds significant potential for the truck platooning system market. Due to sophisticated ICT infrastructure and implementation of favorable regulatory mandates, Europe is expected to witness promising growth in platooning systems technology over the forecast period.
Collaborative efforts between automotive platooning system providers, R&D organizations, connected vehicle service providers, OEMs, transportation and logistics service providers and regulators would play the crucial part in the augmenting proliferation of automotive platooning systems in the market in the near future. The key players operative in the global automotive platooning market includes Daimler, Peloton Technology, Scania, Volvo, Continental, Delphi, IVECO, MAN Truck & Bus, Meritor Wabco, Navistar, Nokia Growth Partners, TomTom and others.
Platooning provides massive benefits including fuel economy, enhanced road safety, and improved road capacity. This will drive growth of automotive platooning system industry over forecasting timeline.
According to Zion market research report, The global Automotive Platooning System Market accrued earnings worth approximately 2.7 (USD Billion) in 2021 and is predicted to gain revenue of about 30.2 (USD Billion) by 2028, is set to record a CAGR of nearly 54.1% over the period from 2022 to 2028.
North America will contribute lucratively towards the global market revenue over the projected timespan. The regional market surge is due to rise in use of automotive platooning systems in countries such as Canada and the U.S.
The key industry participants leveraging business space include The Mercedes-Benz Group AG, Continental AG, Peloton Technology, MAN SE, IVECO Group N.V., Scania AB, Volvo Cars, Delphi Technologies, Nokia Growth Partners, Meritor Wabco, Navistar International Corporation, and TomTom N.V.