Frost Radar in the North American Autonomous Trucking Technology Enablers Market

Frost Radar in the North American Autonomous Trucking Technology Enablers Market

A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
21-Nov-2019
REGION
Global
Deliverable Type
Frost Radar
Research Code: K442-01-00-00-00
SKU: AU01920-GL-MR_23807
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$4,950.00
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Description

North America is the world’s second-largest commercial vehicle market based on annual unit sales. Commercial vehicles play a major role in determining the purchase price of consumer products: about 65% of the region’s freight is transported by road. The industry has been affected by fluctuating freight rates and significant driver shortages. According to American Transport Association, in 2018 there was a shortage of 60,800 drivers; the shortage is expected to reach 175,000 by 2025 with a wave of baby boomers retiring soon. As per the American Transport Research Institute, in 2017, driver wages and benefits accounted for about 43% of motor carrier costs.

Autonomous driving technologies would help to address some of these challenges by providing a cost-effective and safe mode of freight transport. Major fleets and logistics operators have defined autonomy in their process value chain to reduce costs and ensure long-term market sustainability. Truck manufacturers and customers realize the opportunities that autonomous technology can bring to the trucking industry, but they are also skeptical of practical usability and implementation. Regulations in some US states allow on-road testing of vehicles that are limited to defined levels of autonomy.

Ripe with opportunities, the industry is witnessing the emergence of several start-ups that want to implement full-scale autonomous truck operation on North American roads. Many of these companies are developing end-to-end technology solutions guided by camera and lidar-based vision inputs that are processed through deep learning and artificial intelligence technologies to maneuver and navigate the vehicle automatically. Although autonomous technology is at a nascent stage, implementation in commercial vehicles is seen as more immediately plausible than in passenger vehicles. Start-ups are working on autonomous layers at various stages of the freight handling journey – from first-mile to last- mile operations. Major eCommerce and logistics firms such as Amazon, Walmart, UPS, and Loadsmart are partnering with these autonomous technology enablers and are testing their applications on retrofitted trucks. Upon successful demonstration, these companies are expected to incorporate autonomous technologies in their fleets. With incremental prospects of self-driving technology, legislative bodies are also expediting the regulatory roadmap to allow implementation in phases.

The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Table of Contents

Market Overview

Levels of Autonomous Driving

Frost Radar

Frost Radar—Description of Companies Plotted

Peloton Technology

TuSimple

Embark Trucks

Starsky Robotics

Plus AI

Udelv

Gatik AI

Ike Robotics

Kodiak Robotics

Pronto AI

The Last Word—Key Takeaways

Legal Disclaimer

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)

Frost Radar—C2A

North America is the world’s second-largest commercial vehicle market based on annual unit sales. Commercial vehicles play a major role in determining the purchase price of consumer products: about 65% of the region’s freight is transported by road. The industry has been affected by fluctuating freight rates and significant driver shortages. According to American Transport Association, in 2018 there was a shortage of 60,800 drivers; the shortage is expected to reach 175,000 by 2025 with a wave of baby boomers retiring soon. As per the American Transport Research Institute, in 2017, driver wages and benefits accounted for about 43% of motor carrier costs. Autonomous driving technologies would help to address some of these challenges by providing a cost-effective and safe mode of freight transport. Major fleets and logistics operators have defined autonomy in their process value chain to reduce costs and ensure long-term market sustainability. Truck manufacturers and customers realize the opportunities that autonomous technology can bring to the trucking industry, but they are also skeptical of practical usability and implementation. Regulations in some US states allow on-road testing of vehicles that are limited to defined levels of autonomy. Ripe with opportunities, the industry is witnessing the emergence of several start-ups that want to implement full-scale autonomous truck operation on North American roads. Many of these companies are developing end-to-end technology solutions guided by camera and lidar-based vision inputs that are processed through deep learning and artificial intelligence technologies to maneuver and navigate the vehicle automatically. Although autonomous technology is at a nascent stage, implementation in commercial vehicles is seen as more immediately plausible than in passenger vehicles. Start-ups are working on autonomous layers at various stages of the freight handling journey – from first-mile to last- mile operations. Major eCommerce and logistics firms such as Amazon, Walmart, UPS, and Loadsmart are partnering with these autonomous technology enablers and are testing their applications on retrofitted trucks. Upon successful demonstration, these companies are expected to incorporate autonomous technologies in their fleets. With incremental prospects of self-driving technology, legislative bodies are also expediting the regulatory roadmap to allow implementation in phases. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Jagadesh Chandran
Industries Automotive
WIP Number K442-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9963-A6,9AF6-A6