Global Autonomous Vehicles in Logistics (First, Middle and Last Mile) Industry Report 2023-2030
DUBLIN, May 26, 2023 /PRNewswire/ -- The "Autonomous Vehicles in Logistics Industry (First, Middle and Last Mile) - Edition 2023" report has been added to ResearchAndMarkets.com's offering.
The autonomous driving technology revolution is making a paradigm shift in the way the transportation industry works. This technology has been on the radar of automotive OEMs for quite a long period of time. However, its complete penetration into the passenger vehicle market still seems a distant dream due to many reasons such as technical hurdles, lower consumer acceptance, lack of solid regulatory policies, deficient infrastructure, and others.
On contrary, the commercial highway vehicle industry has opened wide arms for a higher level of automation pertaining to the increased demand for e-commerce and logistics post the Covid-19 pandemic. In 2020, a supply chain disruption occurred and the need for automation seemed more evident.
Most of the AV start-ups have reallocated their capital from passenger carriers to good carriers. Autonomous technology penetration in class-8 trucking has predominantly increased in the past 2 to 3 years. Close to $4 billion in funding has been recorded in the autonomous trucking industry since 2016.
The top three leading autonomous start-ups having product portfolios targeting trucking businesses have become public and looking forward to launching their fully autonomous driving technology by 2024.
The massive growth in e-commerce has pushed shipping companies to increase more freight on the road which further created the challenge of driver shortage in the U.S., Europe, and China. The development of advanced driver assistance technology has been a boon to the logistics and shipping industry.
This has created a significant demand for autonomous trucks for first-mile operations as the technology is capable of optimizing the supply chain and the reduce the operations cost significantly. Moreover, the capabilities of autonomous technology fit perfectly into the environment in which the trucks operate.
For instance, the truck routes between the distribution hubs eliminate lots of the more challenging scenarios for autonomous vehicles, such as pedestrians, stop signs, un-protected left turns, turning right on red lights, and other situations which rely on human judgment. Hence, it is more evident that autonomous technology is being deployed in trucks at faster pace and the industry is witnessing significant development towards achieving that.
Autonomous tech has penetrated not only into highway trucking but also into the intra-city transportation of goods from warehouses to stores. Since 2020, autonomous technology has also penetrated into the last-mile operations of the supply chain.
Many start-ups have emerged in this space targeting food and grocery deliveries directlyto the consumers involving smaller droids of 20 to 50 lbs. According to publisher analysis, autonomous technology penetration in the last-mile delivery business has the potential to cut the cost by up to 52% in the short term and up to 75% in long term.
Although the penetration of autonomous technology in quite low at present, however, the demand is expected to grow dramatical over the next 5 years. In terms of volume, autonomous logistics vehicles (L4 and L5) are anticipated to grow at a CAGR of 87% from 2022 to 2030.
The industry is expected to witness a dramatic spike in the volume of autonomous vehicles in 2024 and 2025, as OEMs and technology companies have set their launch timelines during the same period. According to American Transportation Research Institute's data, driver costs are and average of 42% of total freight revenue. The introduction of autonomous technology into freight transportation has the capability to reduce this cost significantly.
Moreover, fuel efficiency is critical for road freight transportation, and the application of autonomous technology in trucks could achieve around a 10% reduction in fuel consumption. The advent of autonomous technology can alleviate the constraints on the supply side and fulfil the unmet demand in road logistics.
The expanding demand for home delivery and the increased pressure for faster delivery comes at a time when providers are facing a labour shortage and rising costs. On-road delivery vans with autonomous technology is offering a cost-effective solution to delivery and shipment companies.
In this study, you will find detailed analysis on every aspect of future demand for autonomous vehicles used in explicitly growing logistics industry.
Some of the critical analysis covered in the report are as follows:
Key Topics Covered:
1. Scope of Research and Assumptions
2. Research Methodology - Data Analysis and Forecast
3. Status of Autonomous Vehicles (AVs) - Market Outlook
4. Global Commercial Vehicle (LCV and HCV) Sales - Market Outlook
5. Commercial Highway Vehicles/Trucks Market Breakdown by Level of Automation
6. Global Market Statistics for Autonomous Technology Penetration in Logistics and Transportation Vehicles (Outdoor)
7. Geographical Analysis of Autonomous Logistic Vehicles
8. Autonomous Logistic Vehicles Market Breakdown by Operations
9. First-Mile: Autonomous Logistics Vehicle Market
10. Middle-Mile: Autonomous Logistics Vehicle Market
11. Last-Mile: Autonomous Logistics Vehicle Market
12. Global Autonomous Logistic Vehicles Market Breakdown by Type of Vehicle/ Droid- (Autonomous Highway (L4/5) Trucks, On-Road Delivery Vehicles, Sidewalk Robots/Droids)
13. Market Analysis of Autonomous Highway Trucks (Level 4/5)
14. Market Analysis of Autonomous On-Road Delivery Vans
15. Market Analysis of Autonomous Sidewalk Robots/ Droids
16. Sensor Content in Autonomous Logistics Vehicles
17. Company Analysis by Type of Logistic Operation
18. Consumer Analysis- Retailers, e-Commerce, Food Delivery Service Providers, Shipping Companies, and Others
19. Autonomous Technology Adoption Rating - Assumptions, Parameters, and Methodology
20. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/92nkp3
Research and Markets
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SOURCE Research and Markets