Truck Platooning Systems Market Trends

Growth Drivers

• Rising Concerns for Road Safety and Security – As the number of road accidents is increasing day by day the concerns regarding road safety and security are also increasing. The truck platooning system allows predictive driving in trucks and also allows road safety and security for both drivers as well people on the road. Young people are especially susceptible on the roads, and traffic accidents are the leading cause of death among children and adolescents (ages 5 to 29). 73% of all fatalities in traffic accidents include young males under the age of 25, who are more prone than females to be involved in crashes globally.
• Growing Focus on Reducing Transportation Operating Costs – Increasing demand for road safety among consumers and growing focus on reducing transportation operational costs is expected to drive the growth of this market in the forecast period.
• Growing Demand for Reduced CO2 Emission – The growing regulation on emission norms has pushed OEM and Tier 1 manufacturers to implement new technologies in heavy-duty vehicles. Additionally, various government authorities from various regions have implemented multiple regulations on CO2 emissions.

Challenges

• High Cost of Truck Platooning Systems – The truck platooning system is a high-cost technology that few people can afford. Therefore, this factor is projected to arise a limitation on the market growth in the forecast period.
• Lack of Infrastructure
• Environment Pollution