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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.