PUBLISHER: The Business Research Company | PRODUCT CODE: 1753855
PUBLISHER: The Business Research Company | PRODUCT CODE: 1753855
Autonomous commercial vehicles refer to self-driving motor vehicles specifically designed and manufactured for business and industrial applications, operating with minimal or no human intervention. These vehicles rely on an integrated system of advanced technologies, including artificial intelligence (AI), machine learning, LiDAR (Light Detection and Ranging), radar, cameras and global positioning systems (GPS), to perceive their environment and navigate accordingly.
The autonomous commercial vehicle market consists of sales, by entities (organizations, sole traders, or partnerships), of autonomous commercial vehicle that are involved in manufacturing, integrating, or retrofitting vehicles with autonomous driving technologies for commercial use.
The global autonomous commercial vehicle market was valued at $5,839.25 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 11.00%.
Favorable Government Support
The favorable government support fueled the growth of the autonomous commercial vehicle market, during the historic period. Many governments are offering grants, subsidies and tax incentives, which reduce R&D costs and promote innovation. They are also establishing regulatory frameworks and pilot programs to enable safe testing and deployment. Additionally, investment in smart infrastructure like vehicle-to-infrastructure (V2I) systems and 5G networks supports seamless autonomous vehicle integration and performance. For example, in July 2024, Wuhan, a city in China, has allocated a budget of 17 billion RMB (approximately $2.3 billion) for an ambitious infrastructure project focused on advancing smart and autonomous vehicle technologies. The project includes the construction of 15,000 smart parking spots, the transformation of three miles of roads into smart, connected infrastructure and the development of an industrial park dedicated to manufacturing chips for autonomous vehicles. Additionally, in September 2023, the UK government has invested £18.5 million ($23.5) into autonomous vehicle projects as part of its ongoing effort to position the country at the forefront of future mobility. This funding aims to accelerate the development and deployment of self-driving technologies, support safety standards and create real-world testing opportunities, contributing to the broader goal of transforming transportation and reducing reliance on human drivers across commercial and public sectors. Therefore, the favorable government support drove the growth of the autonomous commercial vehicle market.
Revolutionizing Logistics With Autonomous Vehicle Platforms
Major companies operating in the autonomous commercial vehicle market are focusing on developing innovative autonomous vehicle platform to enhance safety, reduce operational costs and improve efficiency. These vehicles are designed for hub-to-hub transport, mining and port operations, aiming to address driver shortages and meet growing demand for streamlined supply chains. For example, in January 2025,Applied EV, an Australia-based technology company, has unveiled the Blanc Robot, an autonomous logistics vehicle designed to enhance last-mile delivery operations. Built on the company's proprietary digital vehicle platform (DVP), the Blanc Robot integrates advanced software, electric powertrain and safety systems to operate without a driver. Its modular design allows for various commercial use cases, from parcel delivery to industrial transport. Unlike traditional vehicles retrofitted with autonomy, Blanc Robot is purpose-built from the ground up for autonomous operation. This launch marks a significant step in making urban delivery smarter, cleaner and more efficient.
The global autonomous commercial vehicle market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 19.95% of the total market in 2023.
Autonomous Commercial Vehicle Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global autonomous commercial vehicle market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for autonomous commercial vehicle? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The autonomous commercial vehicle market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider autonomous commercial vehicle market; and compares it with other markets.
Growth Analysis And Strategic Analysis Framework Analysis:- on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).