Global Robot Cars and Trucks Market – Industry Trends and Forecast to 2029

Global Robot Cars and Trucks Market, By Vehicle Type (Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles), Classification (Level 0, Level 1, Level 2, Level 3, Level 4, Level 5), Technology (Simultaneous Localization and MappingReal-Time Locating System), Application (Domestic, Commercial, Industrial) – Industry Trends and Forecast to 2029.

Robot Cars and Trucks Market Analysis and Size

The recent developments in the field of automation and the self-directed functions in automobiles are being increasing adopted globally. The recent innovations and developments provided by the VANET (Vehicular Ad Hoc NETwork) states that the vehicles have been employed with the notifications related to the crash, prior warning with respect to the accidents, construction on the roads, over speed and others. The highly reliable and reduced accidental rates of the robot trucks and cars have led to greater demands worldwide, and this factor will boost the market's growth over the forecasted period.

Global robot cars and trucks market was valued at USD 732.21 million in 2021 and is expected to reach USD 1606.46 million by 2029, registering a CAGR of 10.32% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production and sales, and pestle analysis.

Robot Cars and Trucks Market Scope and Segmentation

Market Definition

The vehicles powered by automation and robotics are referred to as robotic vehicles and serve wide range of purposes and grant various advantages over normal vehicles. These vehicles are programmed to control various features such as collision avoidance, lane resistance and other smart features that enable the user to perform safe and efficient driving.

Global Robot Cars and Trucks Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Surging Usage across Automobile Sector

Automobile manufacturers are rapidly adopting robotics and automation, which is the primary factor driving the market growth over the forecasted period. Robots offer various advantages over other preferences, such as enhanced accuracy and efficiency, increased reliability and flexibility in the production line. Moreover, improved quality, enhanced capacity, and reduced human errors are also driving the growth of the robot cars and trucks market over the forecasted period.

• Rising Road Accidents

The rising road accidents and mishappenings due to the human errors is the vital factor driving the growth of the market over the forecasted period. The changing and shifting preferences of the population across the globe towards the automatic vehicles and transportation due to reduced chances of human errors, high efficiency due to the computerized processes have led to the rise in demands of the robot trucks and cars across the globe and this factor is driving the growth of the market over the forecasted period.

Opportunities

• Advancements and Development

The rising demands of the automation in transportation services and the increasing production of vehicles have created significant lucrative growth opportunities for the market’s growth. Robot cars and trucks have an integrated programmed setup and perform accordingly by manufacturers or consumers. The usage of such vehicles have reported to reduce transportation costs and time and have increased the efficiency of the vehicles. These factors have led to an increase in the sales of the automatic vehicles and have ultimately created significant growth opportunities for the market over the forecasted period.

Restraints/Challenges

• High Costs

One of the barriers to market expansion is the high manufacturing, production and initial setup costs associated with robotics and automation and will hinder market’s growth.

• Minimal Awareness

The minimal awareness regarding robotically operated vehicles and their features will affect the growth of the market. This factor is projected to pose as a challenge for the robot cars and trucks market over the forecast period.

This robot cars and trucks market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the robot cars and trucks market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2021, the Newcastle university and the centre for cancer formed a strategic agreement with Nanovery, a UK based firm that is developing nanorobots for quick and simple detection of cancer and other disorders. This will help the firm enhance its research and development activities and ensure better outcomes.

Global Robot Cars and Trucks Market Scope

The robot cars and trucks market is segmented on the basis of vehicle type, classification, technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Vehicle Type

• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Vehicles

Classification

• Level 0
• Level 1
• Level 2
• Level 3
• Level 4
• Level 5

Technology

• Simultaneous Localization and Mapping
• Real-Time Locating System

Application

• Domestic
• Commercial
• Industrial

Robot Cars and Trucks Market Regional Analysis/Insights

The robot cars and trucks market is analyzed and market size insights and trends are provided by vehicle type, classification, technology and application as referenced above:

The countries covered in the robot cars and trucks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the robot cars and trucks market because of the highly advanced countries such as Japan, South Korea and China in the field of robotics and automation.

Europe is expected to witness significant growth during the forecast period of 2022 to 2029.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Robot Cars and Trucks Market Share Analysis

The robot cars and trucks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to robot cars and trucks market.

Some of the major players operating in the robot cars and trucks market are

• Bayerische Motoren Werke AG (Germany)
• Ford Motor Company (U.S.)
• TOYOTA MOTOR CORPORATION. (Japan)
• General Motors (U.S.)
• Mercedes-Benz (Germany)
• Tesla (U.S.)
• Volkswagen (Germany)
• IBM (U.S.)
• Kairos Autonomi (U.S.)
• AUDI AG. (Germany)
• Continental AG (Germany)
• DENSO CORPORATION. (Japan)
• Aptiv. (Ireland)
• Waymo LLC (U.S.)
• PACCAR Inc. (U.S.)
• NVIDIA Corporation (U.S.)
• ZF Friedrichshafen AG (Germany)
• AB Volvo (Sweden)
• Robert Bosch GmbH (Germany)
• Fuji Electric Co., Ltd. (Japan)
• Google (U.S.)
• Nissan Motor Co., Ltd. (Japan)
• KONGSBERG (Norway)
• FCA US LLC. (U.S.)
• Porsche India (Germany)