Robot cars and trucks are vehicles, which can automatically sense the environment and navigate accordingly without any human inputs. Such vehicles require GPS, odometry, computer vision, radar and laser light among other components to function automatically.
Increasing production of vehicles and rising demand for automation of transportation services is a major driving factor for the robot cars and trucks market. Rising incidents of road accidents due to human errors is another influential factor to the robot cars and trucks market. The application of robot cars and trucks is expected to find immense importance in major industry verticals such as transportation and logistics, industrial and commercial among others. The usage of such automated vehicles is expected to reduce the transportation cost and time, increase the efficiency and reduce the road accident levels. Robot cars and trucks will have an integrated programmed software along with central processors, which will perform automatically as per the algorithms or data installed by the manufacturer or the user. The process will also include the automatic control of brake, steering systems, engine and other automotive systems.
The robot cars and trucks market can be classified by vehicle type, by classification, by technology and by geography. The vehicle type segment can be classified into heavy commercial vehicles, light commercial vehicles and passenger vehicles. By classification, the market can be segregated as level 0, level 1, level 2, level 3, level 4 and level 5. By technology, the market can be bifurcated into simultaneous localization and mapping (SLAM), real-time locating system (RTLS) and others. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
In the robot cars and trucks market, Asia Pacific is expected to hold the largest market share in terms of revenue followed by Europe, North America, Latin America and, Middle East and Africa (MEA). In the Asia Pacific region, countries such as China and India has been witnessing heavy demand and production for passenger vehicles. Japan and China are set to be the early adopters of robot cars and trucks in the Asia Pacific region. In Europe, Germany is the most significant market and is expected to be the largest contributor to the robot cars and trucks market in the region because of the presence of major automobile manufactures in Germany. In North America, the U.S. is expected to be the largest market for robot cars and trucks. The U.S. is the second largest manufacturer of automobiles in the world. The growth rate of robot cars and trucks market in Latin America, and Middle East and Africa is expected to be low considering the less usage and production of vehicles in the aforementioned regions. However, with the growth in the automotive sector, increasing automation of transport services and investments in automobile companies of Latin America and Middle East and Africa, the market for robot cars and trucks is expected to improve in the coming years.
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global robot cars and trucks market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Ford, BMW AG, Fuji, Google Inc., General Motors, Mercedes Benz, Porsche AG, Nissan Motor Company Ltd., Tesla Motors Inc., Volkswagen Group and Toyota Motor Corporation among others.
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