Developers of autonomous light, medium, and heavy-duty trucks. Most companies outfit truck chassis with their technology. The majority of autonomous trucks available test at SAE Level 3 (i.e., require a driver present and ready to take control or remote assistance by an operator).

Providers of self-driving and safety-related hardware and software that provide features such as platooning, collision avoidance alerts, blind spot detection, automatic braking, automated manual transmissions, and eco-driving systems.

Developers of electric and hydrogen-powered trucks.

Apps and devices that show comprehensive routes and provide truck drivers with up-to-date gas prices, locations of nearby truck stops, bypass weigh stations, available parking, etc.

Apps that help shippers connect with carriers, optimize freight logistics, track shipment and driver hours, etc.

Using online platforms, autonomy, electric and fuel-cell tech solutions to shape the future of trucking.

Truck Industry Tech

Overview

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  <h3>
    Tools and technologies shaping the future of trucking 
  </h3>
  <p>
    Truck industry tech players are introducing next-generation technologies and tools, collectively referred to as “Truck Industry Tech,” comprising route planning and freight management apps, driving assist platforms, autonomous trucks, and electric and fuel cell truck components.  
  </p>
  <p>
    These tech solutions aim to shape the future of the truck industry by improving road safety and fuel efficiency while moving traditional freight matching and route planning online, providing convenience and cost savings for truck drivers, fleets, and shippers. The Internet of Things (IoT), sensors, and camera technologies have become essential to fueling the industry’s advancements.
  </p>
  <p>
    Route planning, online freight matching platforms, and Society of Automotive Engineers (SAE) Level 1 autonomous technology are in the commercial stage, whereas autonomous trucks (SAE level 4 and 5) and electric and fuel cell trucks are still at the pre-commercial stages.
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The combined market for autonomous trucks, electric trucks, and digital freight platforms in the US could reach USD 31 billion–USD 52 billion by 2030

Market Sizing

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  <ul>
    <li>
      <p>
        Autonomous trucks and technological advancements in the industry have come into the spotlight during the Covid-19 pandemic, providing possible solutions to several issues within the sector, including driver shortages and bottlenecks in supply chain logistics. 
      </p>
    </li>
    <li>
      <p>
        The closing of state borders and manufacturing plants resulted in various industry-related issues, leading to layoffs for some businesses (ex: Kodiak Robotics, KeepTruckin).
      </p>
    </li>
    <li>
      <p>
        Trucking apps, including Transflo, Trucker Tools, and Drivewyze, introduced new tools and features to safeguard driver health and keep supply chains moving during the Covid-19 pandemic.
      </p>
    </li>
  </ul>
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COVID19-IMPACT

Market Mapping

<p>The trucking tech industry is dominated by incumbents, especially in route planning software, driving and safety assist tools, and autonomous trucks. In contrast, startups hold a notable presence in freight matching and tracking platforms, likely  influenced by the success of the digital ride-hailing and hospitality industries. Despite being relatively capital-intensive, the autonomous trucks segment also has a high presence of startups as costs of autonomous technology have decreased due to the boom in the self-driving vehicles industry. For example, Waymo managed to bring its Laser Bear Honeycomb LiDAR prices down by around 90% to roughly USD 7,500 by 2019 from the industry norm of USD 75,000 a few years before.</p>

The Disruptors

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  <h3>
    <b>Prominent startups focusing on autonomous trucks yet to reach full commercialization</b>
  </h3>
  <p>
    The most prominent disruptors in the industry come from the autonomous trucks segment (collective funds raised to date over USD 4 billion), despite these companies still not reaching full commercial scale. Aurora Innovation and TuSimple are considered the segment leaders, having raised USD 1.1 billion and USD 648 million, respectively, and reaching unicorn status in 2019. Nuro is also included in this segment, raising more than USD 1.5 billion in funding; however, the company is primarily involved in last-mile delivery automation with only a limited presence in the autonomous trucks industry. 
  </p>
  <p>
    Most disruptors operate in the online freight platforms segment, raising more than USD 2 billion in funding collectively. These companies have reached commercial-scale operations, with the majority operating in early or growth stages. Convoy is the highest-funded company in the space, raising USD 666 million as of March 2021 (reaching unicorn status in 2018). KeepTruckin and Germany-based Sennder are other prominent trucking app startups, both having raised more than USD 200 million as of March 2021.
  </p>
  <p>
    The industry also includes several companies that have been listed or propose to be listed via special purpose acquisition companies (SPACs), including 1) Nikola, an electric and fuel cell truck manufacturer that was listed in June 2020 at a post-money valuation of USD 3.3 billion; 2) Ree Automotive, an autonomous truck manufacturer listed in July 2021 through a SPAC at a valuation of USD 3.6 billion; 3) Hyzon, a hydrogen fuel cell truck manufacturer listed in July 2021 through a merger with a SPAC at a valuation of USD 2.7 billion; 4) Einride, an autonomous truck operator that announced it is looking for IPO opportunities via a SPAC in March 2021; 5) Plus, an autonomous truck manufacturer that announced its plans to be listed through a SPAC at a valuation of USD 3.3 billion in May 2021; 6) Embark Trucks, an autonomous truck manufacturer that announced its plans go public through a SPAC merger at a valuation of USD 5.2 billion in June 2021; and 7) Aurora Innovation, an autonomous truck manufacturer that announced its plans to publicly list through a SPAC merger at a valuation of USD 13 billion in July 2021. The autonomous truck operator TuSimple also filed for an IPO in March 2021.
  </p>
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Disruptor Funding History

The Incumbents

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  <h3>
    Well-established truck manufacturers are increasingly adopting autonomous and alternative fuel solutions
  </h3>
  <p>
    Incumbents in the autonomous and alternative fuel truck space are well-established truck manufacturers, with the majority offering self-driving tech as well. For example, Volvo Trucks develops its own autonomous truck dubbed “Vera” while also offering a collision mitigation system called 'Volvo Active Driver Assist.'
  </p>
  <p>
    Incumbents in the route planning and online freight platforms space include truck stop and travel center companies that introduce their own apps (TravelCenters of America, Love's Travel Stops), as well as other established road travel planning and freight matching companies with separate apps for truck drivers (Trimble MAPS, Zonar, and Direct Freight Services).
  </p>
  <p>
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Truck Industry Tech

Truck Industry Tech

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