Study: Autonomous Truck Market Surging *Centurion Insurance AFS*

The demand for autonomous trucks is estimated to increase from $3.3 billion in 2023 to reach $6.9 billion by 2028, according to a new study by BCC Research.

Leveraging 2022 data as a baseline, the study projects estimated market data for the period spanning 2023 to 2028.

The integration of autonomous trucks is poised to revolutionize existing truck allocation structures, BCC researchers said.

The shift to autonomous vehicles could aid in reducing current shipping challenges.

According to researchers, manufacturers are actively engaged in developing low-emission Autonomous Vehicles (AVs) to enhance supply chain efficiency and mitigate transportation-related emissions within the freight transportation sector.

The National Highway Traffic Safety Administration (NHTSA) amended reporting requirements for AV crashes. “This amendment is anticipated to yield more accurate accident reports, furnishing crucial data to support future regulatory changes and further advancing the responsible integration of autonomous technologies into transportation systems,” the BCC study stated.

Autonomous trucks are expected to heighten road safety and lead to more efficient traffic control.

“Leveraging cutting-edge technologies such as sensors, cameras, and artificial intelligence, these vehicles have the potential to substantially mitigate human errors, thereby contributing to a safer road environment,” researchers said.

The ability to communicate with both fellow autonomous trucks and the infrastructure is expected to improve traffic flow and minimize congestion.

Autonomous trucks drive enhancements in the global effort to combat climate change, BCC Research said, “as they introduce innovative features like platooning, adaptive cruise control, and eco-driving.”

The rapid evolution and innovation of pivotal technologies, including Artificial Intelligence (AI), Light Detection and Ranging (LiDAR), 5G connectivity and cloud computing is propelling the demand for AV trucks, researchers said.

Playing a pivotal role in elevating the performance, reliability and security of autonomous trucks, the technological advancements pave the way for the emergence of novel business models and services, shaping a transformative future for the industry while bolstering capacity to meet evolving demands, the research company added.

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