Truck Platooning Market worth $2,728.7 million by 2030
The truck platooning market is projected to grow to USD 2,728.7 million by 2030 from USD 37.6 million in 2021, at a CAGR of 60.96% during the forecast period. Reduction in operating cost, driver shortage, and developments in V2X technologies are the key factors driving the market for truck platooning. Additionally, the growing environmental concerns, efforts to increase fuel efficiency, stringent government regulations for emission, and increasing concerns of traffic congestion have accelerated the growth of the truck platooning market. Driver-assistive truck platooning (DATP) is projected to dominate the truck platooning market during the forecast period. However, developments in fully autonomous truck platooning will create new opportunities for OEMs, Tier 1 suppliers, and service providers. For example, Scania (Sweden) is working towards developing a fleet of fully autonomous trucks with an aim to organize a platoon of 4 trucks, where 3 trucks will follow the lead truck autono...