Automotive Platooning System Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 5.6 Billion by 2033 at a CAGR of 18.5% from 2026 to 2033.
The South Korea Automotive Platooning System Market is witnessing significant growth as industries push for innovations in automation and vehicle connectivity. With the global shift towards smarter and more efficient transportation systems, platooning technology has emerged as a key solution to improving road safety, reducing fuel consumption, and enhancing traffic flow. This market is primarily driven by advancements in autonomous vehicles, communication systems, and artificial intelligence (AI), which all contribute to a more streamlined driving experience.
Automotive Platooning refers to the technology that enables vehicles to travel in a synchronized manner, with the lead vehicle controlling the speed and direction. The rest of the vehicles follow closely behind, with reduced gaps between them. This reduces road congestion, decreases fuel usage, and enhances safety by minimizing human errors. South Korea, a global leader in technological advancements, has been at the forefront of adopting this system due to its efficient infrastructure and government support.
Industries in South Korea are increasingly demanding automotive platooning systems to optimize their logistics and transportation sectors. Companies within the freight and logistics industries are looking for ways to reduce operational costs while improving efficiency. The automotive platooning system offers significant advantages in terms of reducing fuel consumption, which is a pressing concern for industries reliant on long-haul transportation. In addition, it allows for the reduction of human labor costs and the mitigation of accidents caused by driver fatigue.
To support the growing demand for this technology, South Korea’s government has implemented favorable policies and incentives aimed at boosting the adoption of autonomous and connected vehicle technologies. These policies are focused on creating a secure and supportive environment for testing and deploying platooning systems. Furthermore, companies are investing heavily in research and development to make platooning systems more reliable and adaptable to different driving conditions.
The key requirements for industries implementing automotive platooning systems include advanced communication networks, robust AI algorithms, and secure vehicle-to-vehicle (V2V) communication systems. These technologies ensure that vehicles can communicate in real-time, allowing for the precise coordination needed for platooning. The demand for these systems is expected to grow rapidly as industries seek solutions to reduce carbon emissions, improve efficiency, and meet the rising demand for goods and services.
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Daimler
Peloton Technology
Scania
Volvo
Continental
Delphi
IVECO
MAN Truck & Bus
Meritor Wabco
Navistar
Nokia Growth Partners
TomTom
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Automotive Platooning System Market
Heavy Trucks
Light Commercial Vehicles (LCVs)
Passenger Cars
Level 1 (Driver Assistance)
Level 2 (Partial Automation)
Level 3 (Conditional Automation)
Level 4 (High Automation)
Level 5 (Full Automation)
Vehicle-to-Vehicle (V2V) Communication
Vehicle-to-Infrastructure (V2I) Communication
Vehicle-to-Everything (V2X) Communication
String Platooning
Fleet Platooning
Hardware
Software
Control Systems
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Automotive Platooning System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Automotive Platooning System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automotive Platooning System Market, By Type
6. South Korea Automotive Platooning System Market, By Application
7. South Korea Automotive Platooning System Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automotive Platooning System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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