Automotive platooning systems market saw shipments of 841,354 units in 2015 and the number is expected to reach 7,100,874 units by 2026, growing at a CAGR of 22.64% between 2016 and 2026
Automotive platooning is an emerging market and currently is in a phase of technological innovation. Platooning offers tremendous benefits such as fuel economy, increased road safety, better road capacity usage, and others. Automotive platooning system market report offers estimate and analysis of the automotive platooning systems market on a global and regional level. This research study gives historic data of 2015 and forecast for the period 2016 to 2026 on the basis of volume (Units). This report covers restraints and drivers for the market and their impact on the demand over the estimated period. In addition, this research study provides analysis of growth opportunities available in the automotive platooning systems market on a global level.
This report gives an inclusive view on the automotive platooning systems market by incorporating thorough product portfolio of key vendors and competitive scenario. In order to understand the competitive landscape in the market, Porter’s five forces model and it’s an analysis for the automotive platooning systems market has also been incorporated.
The study provides a crucial view on the automotive platooning systems market by segmenting the market on the basis of region. All regions have been analyzed on the basis of present and future trends and the market is estimated from 2015 to 2026. The regional segmentation involves current and forecast demand for North America, Asia-Pacific, Europe, Middle East and Africa and Latin America.
The report offers comprehensive competitive outlook including company profiles of the major participants in the global automotive platooning systems market. The key players of Daimler, Peloton Technology, Scania, Volvo, Continental, Delphi, IVECO, MAN Truck & Bus, Meritor Wabco, Navistar, Nokia Growth Partners, TomTom and others.
This report segment of the automotive platooning systems market as follows:
Global Automotive Platooning Systems Market: Regional Segment 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.