Truck Platooning Systems Market size was over USD 112.72 million in 2024 and is likely to reach USD 41.91 billion by the end of 2037, witnessing around 61.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of truck platooning systems is assessed at USD 167.91 million.
The market is primarily driven by the growth in car accidents due to driver errors and growing intent on lowering the transportation operational cost. As per the statistics, the highest number of road accidents were reported on highways which was 35% followed by state highways in India. Due to the wide demand for automated technologies in these sectors, the truck platooning system demand is anticipated to grow in various industries such as transportation, logistics, road development, and the IT sector.
Moreover, with the increasing production of commercial vehicles and rising demand for enhanced driver systems in vehicles, these technologies are gaining huge recognition. As per the data, approximately 24 million units of heavy buses, light commercial vehicles, and trucks were produced globally in 2021. These systems allow more predictive driving of trucks at the same time it also enhances the safety & security of other people on the road. New trends in the road freight sectors are enabling truck fleets to get equipped with the latest and advanced technologies.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
61.2% |
Base Year Market Size (2024) |
USD 112.72 million |
Forecast Year Market Size (2037) |
USD 41.91 billion |
Regional Scope |
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Technology (Acceleration & Braking Controller, GPS, Cellular & Wi-Fi Communication, DSRS Vehicle to Vehicle Communication)
In terms of technology, the GPS segment in the truck platooning systems market is poised to witness substantial growth by the end of 2037. These modules utilize GSM technology to locate vehicles efficiently. Similarly, each platoon of vehicles has installed GPS, RADAR, and cameras for quick response in circumstances that may prevent sudden accidents. A significant study conducted by Indiana University discovered that around 90% of accidents take place owing to human error. However, this technology can help in reducing the chances of accidents by helping the driver to take the correct decision at the correct time while driving.
Vehicle (Light Commercial, Heavy Commercial)
The heavy commercial segment is estimated to observe the highest share in the truck platooning systems market between 2025 – 2037 on the basis of vehicle segmentation in the truck platooning system landscape. Truck platooning systems are widely installed in heavy commercial vehicles to improve road efficiency, prevent drivers from road accidents, and make sure there’s faster delivery of goods.
Our in-depth analysis of the global market includes the following segments:
Component |
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Technology |
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Vehicle |
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North American Market Forecast
The truck platooning systems market in North America is expected to observe the largest market value during the estimated period owing to the strong inclination towards the adoption of new technologies in the region. In addition, the development of favorable regulatory policies in the United States, and increasing investments in Truck Platooning Systems by market players are also projected to fuel market expansion. Besides, the transportation landscape plays a crucial role in operational logistics and trucks are one of a significant part of this sector in this region. In June 2018, FedEx, Volvo, and Carolina Turnpike Authority all together declared to test the platooning of Volvo trucks on the highway of North Carolina.
APAC Market Statistics
It is anticipated that the Asia Pacific truck platooning systems market would experience significant expansion during the forecast period. The growth of the regional industry can be attributed to the growing investments to launch full-scale truck platooning operations in the region. Moreover, increasing demand for efficient and safer transportation, the requirement to reduce fuel consumption and emissions, and advancement in technology are factors driving the expansion of the market in the region.
Author Credits: Saima Khursheed
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