Global Automotive Platooning Systems Market to reach USD 7.10 million units by 2026

Sarasota, FL, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Automotive Platooning Systems Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2026”. According to the report, Automotive platooning systems market saw shipments of 841,354 units in 2015 and the number is expected to reach 7,100,874 units by 2026, growing at a CAGR of 22.64% between 2016 and 2026.

Automotive platooning is a group of vehicles which travels in close proximity to each other. The platooning system uses different technologies to attain safe and competent transport. In platoon, two or more trucks drive closely one after the other at possibly high velocity. A small gap among the trucks is essential to attain noteworthy fuel savings via improved aerodynamics and correspondingly reduced aerodynamic drag.

Browse through 3 Market Tables and 21 Figures spread through 103 Pages and in-depth TOC on “Automotive Platooning System Market: By Size, Share, Key Trends, and Technology”.

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North America is projected to be the largest market for advanced driver assistance systems by 2018, due to the stringent safety regulations in the region. Upcoming governmental regulations relating to the driver, vehicle, passenger, and pedestrian safety have forced automobile manufacturers to include the mandated features as a default offering. Trucks are the major mode of cargo transportation in the America and around 70% of the freight carried across the U.S. is by trucks. Hence connected and autonomous technologies such as; truck platooning may cast a direct impact on the transportation industry once this technology gains considerable traction in the U.S.

Europe accounted for nearly 29.56% of the market share in 2015. Europe is a mature automotive market and holds significant potential for the truck platooning system market. Due to sophisticated ICT infrastructure and implementation of favorable regulatory mandates, Europe is expected to witness promising growth in platooning systems technology over the forecast period.

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The adoption level of automotive platooning systems is anticipated to increase by lesser pace in developing regions such as Asia Pacific. Road accidents in the emerging regions like Asia Pacific have increased dramatically over the past couple of years. The main reason behind these accidents is congested traffic, growing driver fatigue owing to long working hours and unregulated traffic discipline. Rising proliferation of connected technologies in trucks is a positive indication of the China’s favorable positioning for the uptake of truck platooning systems market. The truck market in Japan would witness a gradual penetration of connected technologies like platooning in trucks.

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Automotive platooning market in Latin America is expected to show sluggish growth during the forecast period. Platooning market in Brazil is highly affected by the ongoing recession in Brazil's economy. The Middle East and Africa shows strong growth prospects for the automotive platooning systems market. The UAE, South Africa, and Israel are estimated as potential markets for connected trucks solutions providers and truck OEMs.

Some of the well-known players in the global automotive platooning market include Daimler, Peloton Technology, Scania, Volvo, Continental, Delphi, IVECO, MAN Truck & Bus, Meritor Wabco, Navistar, Nokia Growth Partners, TomTom and others. SARTRE, PATH, GCDC, Energy ITS and SCANIA-platooning are some of the major projects aiming to improve the automotive platooning system with innovative technology. They are working to optimize efficiency and develop hassle free transport solution.

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This report segment of the automotive platooning systems market as follows:

Global Automotive Platooning Systems Market: Regional Segment Analysis

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

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