Frost Radar™: Global Off-Highway Autonomous Technology Market, 2021
Published on: 14-Dec-2021 | SKU: AU02262-GL-MR_26078

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The promise of worker safety and productivity gains will drive the development of autonomous off-highway equipment in the medium-to-long term. Unmanned equipment’s ability to operate 24/7 without interference enables easier integration of technology into existing infrastructure and fleets, which will boost interest in this market.

Even though the COVID-19 pandemic has had a negative impact on off-highway equipment sales in the construction, mining, and agricultural spaces globally, it has pushed off-highway industry stakeholders to accelerate autonomous technology development. Mandates on employee health monitoring, social distancing, and contact tracing have increased demand for virtual solutions in manufacturing, operations, and services tied to off-highway equipment.

Preference for connected solutions that optimize equipment performance has increased the demand for both hardware (e.g., sensors) and software platforms, enabling virtual and augmented solutions in equipment manufacturing and operation. This has positioned OEMs and autonomous solution providers to develop applications targeting remote and autonomous operation.

Currently, 43 OEMs (of construction, mining, and agricultural equipment) have operated or are operating autonomous equipment in on-site trials and pilots. Globally, the majority of automation focus is on mining haul trucks, which make up more than 75% of total autonomous equipment in operation.

This global off-highway autonomous technology Frost RadarTM features 8 companies that are disrupting the industry with their cutting-edge innovation, groundbreaking technology, strong partnerships, and strategic product positioning, namely Autonomous Solutions, Inc. (ASI), Built Robotics, SafeAI, Pronto AI, AgXeed, Aidrivers, TAGE I-Driver, and xtonomy. While fewer than a dozen smaller companies either are exploring the market, have recently entered it, or have the potential to explore the off-highway segment because of an established position in the passenger car segment, Frost & Sullivan has identified these 8 as the market powerhouses. The study only features dedicated technology companies that are working exclusively on automated operation for off-highway equipment; it does not consider traditional OEMs or Tier I suppliers.

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 companies 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.

Author: Krishna Achuthan

Strategic Imperative

Strategic Imperative (continued)

Growth Environment

Growth Environment (continued)

Frost Radar™: Global Off-Highway Autonomous Technology Market

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

Autonomous Solutions, Inc.

Built Robotics

SafeAI

Pronto AI

AgXeed

Aidrivers

TAGE I-Driver

xtonomy (an Indurad Company)

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

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  • Growth Opportunities
  • Best Practices
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Impacting your company's future growth potential.

The promise of worker safety and productivity gains will drive the development of autonomous off-highway equipment in the medium-to-long term. Unmanned equipment’s ability to operate 24/7 without interference enables easier integration of technology into existing infrastructure and fleets, which will boost interest in this market. Even though the COVID-19 pandemic has had a negative impact on off-highway equipment sales in the construction, mining, and agricultural spaces globally, it has pushed off-highway industry stakeholders to accelerate autonomous technology development. Mandates on employee health monitoring, social distancing, and contact tracing have increased demand for virtual solutions in manufacturing, operations, and services tied to off-highway equipment. Preference for connected solutions that optimize equipment performance has increased the demand for both hardware (e.g., sensors) and software platforms, enabling virtual and augmented solutions in equipment manufacturing and operation. This has positioned OEMs and autonomous solution providers to develop applications targeting remote and autonomous operation. Currently, 43 OEMs (of construction, mining, and agricultural equipment) have operated or are operating autonomous equipment in on-site trials and pilots. Globally, the majority of automation focus is on mining haul trucks, which make up more than 75% of total autonomous equipment in operation. This global off-highway autonomous technology Frost RadarTM features 8 companies that are disrupting the industry with their cutting-edge innovation, groundbreaking technology, strong partnerships, and strategic product positioning, namely Autonomous Solutions, Inc. (ASI), Built Robotics, SafeAI, Pronto AI, AgXeed, Aidrivers, TAGE I-Driver, and xtonomy. While fewer than a dozen smaller companies either are exploring the market, have recently entered it, or have the potential to explore the off-highway segment because of an established position in the passenger car segment, Frost & Sullivan has identified these 8 as the market powerhouses. The study only features dedicated technology companies that are working exclusively on automated operation for off-highway equipment; it does not consider traditional OEMs or Tier I suppliers. 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 companies 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. Author: Krishna Achuthan
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Krishna Achuthan
Industries Automotive
WIP Number K707-01-00-00-00
Keyword 1 Off-Highway Autonomous Technology Market
Keyword 2 autonomous off-highway equipment
Keyword 3 global off-highway autonomous technology
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9963-A6,9B13-A6

Frost Radar™: Global Off-Highway Autonomous Technology Market, 2021

AutomotiveFrost Radar™: Global Off-Highway Autonomous Technology Market, 2021

A Benchmarking System to Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
14-Dec-2021
REGION
Global
Deliverable Type
Frost Radar
Research Code: K707-01-00-00-00
SKU: AU02262-GL-MR_26078
AvailableYesPDF Download
$4,950.00
In stock
SKU
AU02262-GL-MR_26078