PitchBook Analyst Note: Autonomous Trucking Gains Traction

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Autonomous technology is a good fit for the trucking industry

Autonomous trucking technology can potentially solve many of the challenges faced by carriers today. From alleviating labor shortages to improving margins, self-driving technologies such as  light detection and ranging  and camera-based perception systems hold significant potential for use in long stretches of highway driving.

PitchBook’s latest analyst note explores the major trends that have shaped the autonomous trucking industry in 2021, including why it may be the first area of the driverless vehicle sector to adopt self-driving technologies on a large commercial scale. Key insights include:

• In the first half of 2021, investors poured a record $5.6 billion into autonomous trucking companies such as TuSimple and Plus, eclipsing the $4.2 billion invested in all of 2020.
   
• PitchBook’s unit economics analysis illustrates that autonomous driving technology could reduce the cost of trucking from $1.65 per mile to $1.30 per mile by mid-decade.
   
• The industry is attracting a broad set of investors, including industry incumbents and trucking logistics providers. As a result, valuations for autonomous trucking startups are climbing more quickly than startup valuations in the robotaxi industry.
   
• Autonomous trucks will face difficulties in commercializing at scale until clear regulatory guidelines are established for testing, deployment, driver licensing and driver hours of service.