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Truck Platooning Market

Automotive & Transportation
Advance Technologies

The truck platooning market is projected to grow at a CAGR of 60.96% from 2021 to 2030, and the market size is projected to grow from USD 37.6 million in 2021 to USD 2,728.7 million by 2030. The increasing government regulations for vehicle safety, growing adoption of advanced driver assistance systems (ADAS), and significant testing of on-highway platooning are expected to play a significant role in the growth of the market.

The driver-assistive truck platooning (DATP) segment is projected to hold the largest share in the truck platooning market, by platooning type. Developed countries such as the US, Netherlands, Sweden, and the UK are likely to deploy DATP on roads in the near future. In June 2018, Volvo Trucks North America joined hands with FedEx and the North Carolina Turnpike Authority to demonstrate on-highway truck platooning in North Carolina.

Adaptive cruise control (ACC) is projected to be the fastest growing segment of the truck platooning market, by systems. ACC is an essential system for truck platooning operations. ACC helps to automate the speed of the trucks with the help of V2V communication.

Image sensor is projected to be the largest segment of the truck platooning market, by sensor type. In truck platooning, image sensors are used in several applications such as driver drowsiness, blind spot warning, road sign recognition, front monitoring, and lane keep assist. Due to the increasing accuracy of object detection, the number of image sensors used in truck platooning is expected to increase in the future.

The telematics-based services segment is projected to be the largest segment in the truck platooning market, by services. The adoption rate of telematics-based services is projected to grow in truck platooning owing to the rising concerns regarding maintenance notifications, duration of maintenance services, and reduced operational costs.

The Americas region is estimated to be the largest market for truck platooning. Trucks are the major contributor to the transportation sector of the Americas. The regulatory developments such as Compliance, Safety, and Accountability (CSA) and Hours of Service Solution (HOS) revisions are expected to drive the growth of the trucking industry in the region. Hence, the truck platooning market is expected to see substantial growth. Also, the strong financial position of this region allows these countries to invest heavily in leading technologies such as truck platooning.

Truck Platooning Market by Region

Europe is projected to be the fastest growing market for truck platooning. The major factors driving the growth of the market include pioneering efforts in truck platooning, technological advancements, and stringent vehicle safety norms in the region. Countries such as Sweden and the Netherlands have seen pioneering efforts in DATP with top rank in the autonomous vehicle index. In 2016, during its Presidency of the European Union (EU), the Netherlands started a European Truck Platooning Challenge. Hence, these developments are expected to drive the growth of truck platooning in the region in the near future.

The key factors restraining the growth of the truck platooning market are the high cost of truck platooning systems and lack of infrastructure. The installation of advanced features such as blind spot warning (BSW), lane keep assist (LKA), adaptive cruise control (ACC), and forward collision warning (FCW) system increases the overall cost of the truck. Truck platooning needs integrated application of internet of things (IoT) technologies and surrounding infrastructure in transportation systems. The current road infrastructure is constraining the development of the possible routes for long-haul truck platoons. The market is dominated by a few global players. Some of the key manufacturers operating in the market are Volvo (Sweden), Daimler (Germany), Scania (Sweden), Continental (Germany), Peloton (US), and NVIDIA (US).


Self-driving trucks

Autonomous vehicles are developing at a rapid pace. The self-driving truck is one of the most disruptive innovations in the transportation industry that will reduce shipping costs, increase supply chain efficiency, overcome the issue of truck driver shortage, and increase road safety with fewer accidents. Additionally, autonomous and semi-autonomous trucks can help reduce traffic congestion. The Texas A&M Transportation Institute’s 2015 Urban Mobility Scorecard reported that traffic congestion causes drivers to waste more than 3 billion gallons of fuel and be stuck in their vehicles for nearly 7 billion extra hours. Autonomous vehicles could redefine road capacity with an increase in the number of vehicles that can travel safely in a lane. Elderly and physically disabled people who are unable to drive will also have a chance to get around more freely.


Gaining user/public acceptance

One of the major concerns in truck platooning is that of user acceptance, which includes acceptance by the transporters, drivers, as well as all other road users or public. The effective implementation of truck platooning requires close cooperation between transporters, private fleet owners, and individual owner-operators. According to the American Transportation Research Institute (ATRI) survey on “Willingness of different truck/fleet owners to cooperate in order to form inter-company platoons”, transport companies are least cooperative to work with other transport companies. Similarly, owner-operators are not willing to work with transporters and private fleet operators. However, private fleets are positive towards cooperation. The intense competition between transporters, data privacy concerns, and fear of delay in shipment due to cooperative scheduling of the platoons are some of the factors that restrain user/public acceptance.

Concern over data privacy and cyber security regulations

Truck platooning would create significant opportunities to improve road freight transport. However, it can also raise concerns about data privacy and security. Truck platooning uses wireless technologies such as V2V and V2I communication, which increase the risk of cyber threats for automotive electronics. The increase in vehicle connectivity through carry-in devices such as smartphones, music players, and tablets has also increased the vehicle’s cyber risk. Excessive connectivity also increases the risk of hacking. Even if external devices are not connected to the vehicle, there is still a possibility of getting hacked. This is because advanced Human-Machine Interface (HMI) systems are connected to the Internet and data is stored in the cloud database or at the research center of the OEMs. External interaction generally carries with it the risk of personal data being exposed. Although OEMs understand and agree to data privacy policies, there are uncertainties regarding the protection of this data.





MnM Analysis


August 2017

NVIDIA invested USD 20 million in a Chinese start-up TuSimple. TuSimple uses NVIDIA’s, DRIVE PX2 platform, Jetson TX2, CUDA, TensorRT and cuDNN to develop its autonomous driving solution.

Autonomous platform is an important part of truck platooning. Hence, this development would contribute to the truck platooning industry.


 June 2017

Bosch Group established a research and technology office in Tel Aviv, Israel. Its aim is to work more closely with universities and scientific institutions at an early stage, to recognize innovative start-ups working in fields such as machine learning, deep learning, robotics, connectivity, cybersecurity, and the Internet of Things (IoT).

By establishing an R&D center, Bosch is contributing to the truck platooning market by offering innovative solutions.

Mergers & Acquisitions




MnM Analysis


October 2017

WABCO purchased the Meritor, Inc.’s (NYSE:MTOR) stake in the Meritor WABCO joint venture and, thereby, taking ownership of the enterprise. This acquisition helps them to expand operations in the North America region.

Meritor WABCO is the leading player in the truck platooning industry.


July 2017

WABCO acquired AssetTrackr, a Bangalore-based start-up FMS provider, to strengthen its Fleet Management Systems (FMS) business in India. AssetTrackr uses an advanced software for managing cloud-based fleet management, which helps fleet operators to connect their vehicles, cargo, and manage other relevant data.

The combination of AssetTrackr and WABCO India would accelerate the development of innovative solutions that improve the performance and safety regarding autonomous driving and truck platooning in the near future.

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