DUBLIN--(BUSINESS WIRE)--The "Semi-Autonomous & Autonomous Bus Market by Level of Automation (Level 1, Level 2 & 3, Level 4, and Level 5), Propulsion (Diesel, Electric, and Hybrid), Application, ADAS Features, Sensor, and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering
The global autonomous bus market size is projected to reach USD 2,773 million by 2030, from USD 791 million in 2024, at a CAGR of 23.2%.
The entry of autonomous buses in the automotive industry will change the way public transport is done across the world. The autonomous bus technology enhances safety, efficiency, and productivity. Autonomous buses can help decrease the number of road accidents significantly, thus increasing road safety in different scenarios or conditions. These vehicles follow the traffic rules and keep a distance from other vehicles. In this way, these vehicles would help decrease traffic congestion and increase efficiency and productivity.
The effective first-mile to last-mile commuting would drive the autonomous shuttle segment in the forecast.
The shuttle segment is expected to dominate the autonomous bus market, as these are already commercialized. Many companies such as Navya, EasyMile, and Local Motors have developed self-driving shuttles. Successful pilot programs of autonomous shuttles across the world are indicating that shuttles could be a practical solution to the gaps in traditional public transport.
For instance, EasyMile, a French autonomous shuttle provider, claims to have deployed the most number of such shuttles globally than any other company. Also, Navya, 2getthere, Local Motors, and Sensible4 are some of the companies that have developed, tested, and are offering autonomous shuttles. On the other hand, commercialization of intercity or intracity buses would take time due to challenges such as highway operation, long-distance, city traffic, lack of infrastructure (intracity coaches might require separate lane in the city and highway conditions), and government regulations.
Asia Pacific is expected to be the fastest-growing market during the forecast period
The Asia Pacific region comprises countries, such as China, Japan, and South Korea, which have a technologically advanced automotive industry. The Chinese bus company, King Long, developed a self-driving shuttle with the autonomous platform by Baidu and started first-ever volume production of these shuttles in June 2018. As China, Japan, and South Korea are capable of adopting such technology and produce on mass-level, the region will have a significant market share in the autonomous bus market. Apart from these testing and trials, the region is heavily dependent on buses as a public transport medium. Thus, recent developments in autonomous technologies and quick adoption of the technology would help the Asia Pacific market to grow rapidly.
North America is expected to be the largest market in the forecast period
The North American region is projected to account for the largest share of the semi-autonomous bus market during the forecast period. It is home to OEMs, such as New Flyer, Gillig, Novabus, Bluebird, Thomas Built Buses, and Proterra, that are offering advanced buses in the region. The region is dominated by modern buses having ADAS features as standard or optional. OEMs in the country have been providing many semi-autonomous driving features such as AEB, BSD, and ACC. Also, the region is home to many technology companies that are exploring the autonomous driving technology with testing and trials across the region.
Market Dynamics
Drivers
- Increasing Emphasis on Better Road Safety and Traffic Control
- Economic Effect of Semi-Autonomous and Autonomous Buses on the Transport Industry
Restraints
- Cybersecurity and Data Security Concerns
- High Cost of Development
- Lack of Information Technology and Communication Infrastructure in Developing Nations
Opportunities
- Increasing Demand for 5G Technology for Vehicle Connectivity
- Demand for Fuel-Efficient and Emission-Free Buses
Challenges
- Tapping the Untapped Market
- Legal and Regulatory Framework Issues
Companies Profiled
- AB Volvo
- Bosch
- Continental
- Denso
- Aptiv
- Nvidia
- Daimler
- 2Getthere (ZF)
- Local Motors (LM Industries)
- Proterra
- Easymile
- Navya
- Qualcomm
- Intel
- Uber
- Scania
- NXP
- Iveco
- BMW
- Yutong
For more information about this report visit https://www.researchandmarkets.com/r/hpq3a
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June 04, 2020 at 04:55PM
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Global Semi-Autonomous & Autonomous Bus Market to 2030 - Demand for Fuel-Efficient and Emission-Free Buses Presents Opportunities - ResearchAndMarkets.com - Business Wire
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