Truck Platooning Market to Garner $6,092.2 Million, Globally, by 2035 at 23.7% CAGR: Allied Market Research

Strengthening government rules and regulations for the transportation industry and strategic collaboration between industry players and private-public partnerships drive the growth of the global truck platooning market.

WILMINGTON, Del., Nov. 14, 2023 /PRNewswire/ --  Allied Market Research published a report titled "Truck Platooning Market by Component (Hardware and Software), Platooning Type (Driver-Assistive Truck Platooning (DATP) and Autonomous Truck Platooning), and Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Forward Collision Avoidance, Active Brake Assist, Lane Keep Assist (LKA), and Others), and Communication Technology (Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I)): Global Opportunity Analysis and Industry Forecast, 2025-2035". According to the report, the global truck platooning industry will generate $728.9 million in 2025 and is anticipated to reach $6,092.2 million by 2035, witnessing a CAGR of 23.7% from 2025 to 2035.

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Prime determinants of growth

Strengthening government rules and regulations for the transportation industry, reduction in fuel consumption, increase in road safety, and strategic collaboration between industry players and private-public partnerships to drive the growth of the global Truck Platooning market. However, the high cost of new vehicles and infrastructure requirements and the rise in security and privacy concerns restrict market growth. Moreover, the production of fully autonomous trucks for platooning and the extension of the size of the truck platooning fleet presents new opportunities in the coming years.

Report Coverage & Details:

The software segment to maintain its leadership status throughout the forecast period

By component, the software segment held the highest market share in 2025, accounting for four-fifths of the global Truck Platooning market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest a CAGR of 23.1% from 2025 to 2035, owing to the increased demand for IoT-based systems in truck platooning.

Key Highlights of the Report:

• The report provides an in-depth analysis of truck platooning within the transportation industry.
• The analysis spans from 2025 to 2035, capturing a comprehensive view of the truck platooning market over the specified timeframe.
• Latest advancements in the field are outlined in the research study.
• Prominent companies in the industry are profiled, offering insights into their operations and contributions.
• The research study encompasses various segments and regions, offering a thorough examination of the market across different dimensions.

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The driver-assistive truck platooning (DATP) segment to maintain its dominance throughout the forecast period.

By platooning type, the driver-assistive truck platooning (DATP) segment is expected to hold the highest market share in 2025, accounting for nearly two-thirds of the global truck platooning market, however, the autonomous truck platooning segment is estimated to grow at the fastest CAGR of 25.7% during the forecast period. The increasing need for fuel reduction technologies and rising inclination towards cost saving coupled with regulatory government support is a major factor that propels the growth of the market.

 The other segment is projected to maintain its lead position during the forecast period

By technology, the other segment accounted for the largest share in 2025, contributing to nearly one-third of the global truck platooning market revenue, however, adaptive cruise control (ACC) is projected to lead the market during the forecast period. The primary factors that drive the adaptive cruise control (ACC) segment growth are the rise in the demand for optimized traffic flow solutions and enhanced road safety.

 The vehicle-to-vehicle (V2V) segment is expected to maintain its lead position during the forecast period

By communication technology, the vehicle-to-vehicle (V2V) segment accounted for the largest market share, contributing to around three-fourths of the global truck platooning market revenue, however, the vehicle-to-infrastructure (V2I) segment is projected to portray the largest CAGR of 27.6% from 2025 to 2035 due to factors such as real-time data sharing with vehicles related to weather forecasts, traffic conditions, and road closures. In addition, the development of logistics infrastructure has created more demand for vehicle-to-infrastructure communication technology during the forecast period.

 North America to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2025, accounting for half of the global truck platooning market revenue.  The North American region is dominating due to the significant presence of truck platooning service providers in the region. Moreover, companies in the region are making significant investments in the sector and forming partnerships with both public and private entities in order to develop advanced technology and enhance the capabilities of their products.

However, LAMEA is expected to grow at the highest CAGR of 26.3% during the review period. LAMEA regions are witnessing foreign investment in their countries, due to which there is a rise in the development and implementation of automation. Likewise, there have been some ongoing research developments in recent years in the region in the field of autonomous driving; the ongoing R&D initiative is expected to positively drive the demand for truck platooning during the forecast period. 

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Leading Market Players: -

• AB Volvo
• Continental AG
• Mercedes-Benz Group AG (former Daimler AG)
• Peloton Technology LLC
• Robert Bosch GmbH
• Scania AB
• TOYOTA MOTOR CORPORATION
• Bendix Corporation
• DAF Trucks N.V
• IVECO S.P.A.

The report provides a detailed analysis of these key players in the global Truck platooning market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Reports We Have on Automotive Industry:

Self-Driving Truck Market Research Report 2023-2032

Connected Truck Market Research Report 2023-2032

Connected Trucks Telematics Market Research Report 2023-2032

Semi-Autonomous and Autonomous Truck Market Research Report 2023-2032

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