Automated Truck Market Size Worth Around US$ 1.9 Bn by 2026

Acumen Research and Consulting, Recently Published Report On “Automated Truck Market Size, Share, Trends, Scope, Growth Opportunity and Forecast 2019-2026”.

LOS ANGELES, July 04, 2019 (GLOBE NEWSWIRE) -- The global automated truck market size is estimated to grow at CAGR above 14.5% over the forecast time frame 2019 to 2026 and reach the market value around USD 1.9 billion by 2026.

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Logistics costs account for a significant part of total expenses in specific product classifications, leading to an increase in the focus on more economical and effective logistical operations. Now for a few days, producers have emphasized the improvement of manufacturing effectiveness to obtain both a competitive edge and operational excellence. Automation in logistics increases activities and flexibility while at the same time ensuring high effectiveness. Manufacturers focus on post-production activities in order to reduce expenses, which have been completely ignored in the past. In post-production activities there are important possibilities for reducing expenses and efficiently accelerating the whole money cycle.

Automated charging systems for loading and unloading of products or equipment have been increasingly used. This decreases labor cost, minimizes harm to the product, optimizes time management and guarantees high supply chain effectiveness. In the sectors, the manual loading of trucks has traditionally been embraced, but the lack of labor is a significant challenge. In consequence, the consolidation and automation of logistics activities has emerged as the greatest factor. Consequently in numerous sectors, such as food & drink and paper, cars and milk sectors, the adoption rate of automated truck charging systems is steadily rising.

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Another factor which has led to a rise in the adoption of automated truck loading systems as a post-production solution in industrial logistics is the withdrawal of qualified warehouse employees and car drivers from developing areas as Europe and North America.

Cost reduction is the main factor that contributes to the development of the market for automated truck loading systems. The automated truck loading system saves important money from the overall price of the goods sold compared to traditional loading. Automatic truck loading systems also decrease job dependence, avoid damage to products and enhance work safety. The fuel growth of the global automated loading systems market for trucks is estimated for these factors.

A wealth of inexpensive labour is projected to be a main constraining factor in the Asia Pacific area, which may impede the development of the worldwide market for automated charging systems. A significant restriction in the worldwide automated truck loading system industry in cost-sensitive areas such as India and China is projected to be the steep expenditure of automated truck loading systems.

Due to the increasing demand for automation in activities such as loading and unloading trucks, fresh techniques for cost cutting of manufacturing and working environment security, the automatic truck charge system market in Asia-Pacific is predicted to record stable development over the forecast period. In this area, the low penetration rates of automated truck loading systems in India and China are expected to drive development. The truck charging system market in North America and Europe is expected to expand rapidly during the predicted era.

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Key Players & Strategies

In a high degree of rivalry, the automated truck market works. The risk of newcomers is small in the countryside, as entry into the market is an enormous original investment. The automated truck industry is still dominated by the market leaders- EMBARK, VOLVO AB, Daimler AG, TuSimple Inc., and others.

Market leaders invest strongly in research and development operations to encourage landscape innovation and remain ahead of the corporate curve. For example, in June 2018, truck platooning was submitted by ADAS, Volvo Trucks, North Carolina Turnpike Authority and FedEx Corporation.

Regional actors work with independent technology service suppliers working on the market for product suite growth. DENSO CORPORATION, for example, stated in January 2019 that it has partnered with TomTom to create a self-employed software platform. TomTom's HD map will fulfill the vehicle sensor of DENSO in this strategic partnership to create a fully independent drive system.

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