The ‘Global Semi-Autonomous and Autonomous Bus Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global semi-autonomous and autonomous bus market. It assesses the market on the basis of its segments like propulsion type, application, ADAS feature, level of automation, sensor type, and major regions.
Semi-Autonomous and Autonomous Bus Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 24%
There is an upsurge in road accidents coupled with a rise in the adoption of ADAS technology, government rules for safety features, and the unavailability of drivers. Due to these factors, the semi-autonomous and autonomous bus market is anticipated to gain momentum across the globe in the coming years. The surging requirement for feature-rich as well as efficient modern buses coupled with the requirement for efficient bus maneuvers is likely to bolster the market demand for semi-autonomous and autonomous buses.
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With automated platooning in the corridor, semi-autonomous buses require fewer unit operating costs. Moreover, numerical, and analytical outcomes demonstrate that fully autonomous buses display great potential through reduced operating costs as well as waiting for costs even in case the added capital cost is high. These aspects are expected to fuel the market growth over the upcoming years.
The benefits of semi-autonomous buses are weaker and these buses are more prominently used in networks with fewer needs along long corridors including interurban networks. This is likely to influence more consumers and boost the semi-autonomous and autonomous bus market demand.
Autonomous vehicle technology has rapidly grown and developed. Autonomous buses are likely to aid in reducing road accidents considerably, hence surging road safety in various circumstances. Further, such vehicles follow traffic regulations and maintain distance from other vehicles. Thus, such vehicles are likely to reduce traffic congestion and surge productivity and efficiency which is further expected to fuel the market growth for semi-autonomous and autonomous buses over the coming years.
Semi-Autonomous and Autonomous Bus Industry Definition and Major Segments
Semi-autonomous vehicles generally need only minimal human intervention. These vehicles employ innovative driver support technologies, like Lane Keep Assist (LKA), Adaptive Cruise Control (ACC), AFL, and Intelligent Park Assist (IPA), to lessen the effort needed to operate the vehicle.
Autonomous vehicles are capable of operating without a human operator. Automation technology is likely to transform the public transport industry completely in the coming timeframe.
By propulsion type, the market is divided into:
On the basis of application, the semi-autonomous and autonomous bus market is bifurcated into:
The market is broadly categorised, on the basis of ADAS feature, into:
• Adaptive Cruise Control (ACC)
• Lane Keep Assist (LKA)
• Automatic Emergency Braking (AEB)
• Intelligent Park Assist (IPA)
• Blind Spot Detection (BSD)
• Highway Pilot (HP)
• Traffic Jam Assist (TJA)
On the basis of level of automation, the market is segmented into:
• Level 1
• Level 2 and 3
• Level 4
• Level 5
On the basis of sensor type, the market is segregated into:
By region, the market is segmented into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Semi-Autonomous and Autonomous Bus Market Trends
There is a surging demand for hybrid and electric vehicles and an upsurge in the focus on safety as well as rising awareness for better safety owing to accidents with conventional buses. This, coupled with evolving technology for autonomous buses, is projected to bolster the semi-autonomous and autonomous bus market growth in the coming years.
With conceptual designs, fundamental research, and technological development, autonomous vehicles have improved and are now challenging commercial applications. This further encourages the market growth of semi-autonomous and autonomous buses globally. The progress of intelligent transport systems coupled with the development of connected infrastructure is expected to fuel the semi-autonomous and autonomous bus market growth.
The development of smart cities along with the rising 5G technology demand for vehicle connectivity is likely to permit new categories of vehicle-to-vehicle communications. These technologies can be used to aid cars in communicating with objects and traffic management systems for safer and optimized travel. The rapid adoption of the Internet of Things and digitalization of transportation infrastructure is growing quickly across the globe.
Key Market Players
The major players in the global semi-autonomous and autonomous bus market report are:
- AB Volvo
- Robert Bosch GmbH
- Daimler AG
- Denso Corporation
- Local Motors (LM Industries)
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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