Autonomous Bus Market size is set to grow by USD 2294.31 mn from 2024-2028, growing developments in autonomous vehicle corridors boost the market- Technavio

NEW YORK, April 5, 2024 /PRNewswire/ — The global autonomous bus market size is estimated to grow by USD 2294.31 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 21.86% during the forecast period. Autonomous buses are being tested and deployed in dedicated corridors, such as Haneda Airport in Japan, where BYD and ANA have conducted a ten-day trial run of the first autonomous driving bus. This electric bus, equipped with advanced technologies like adaptive cruise control and lane-keeping assistance, is part of ANA’s vision for a smart airport. Schaeffler and VDL Groep are also contributing to the industry expansion with sensors, artificial intelligence, and safety improvement systems. Regulatory frameworks, road safety, and traffic management are key considerations for the adoption of autonomous buses, aiming to reduce human error, congestion, pollution, and emissions compared to private vehicles. Texas is also investing in dedicated lanes, communication networks, and hardware and software solutions for autonomous Level 4 shuttles. 

For more insights on the historic (2018 – 2022) and forecast market size– Request a sample report

Segment Overview 

This autonomous bus market report extensively covers market segmentation by Propulsion (Diesel, Electric, Hybrid) Type (Semi-autonomous, Fully-autonomous) Geography (North America, APAC, Europe, Middle East and Africa, South America)

Market segmentation by Propulsion

The Autonomous Bus Market is experiencing significant growth, particularly in the semi-autonomous segment, which includes Level 3 and below automation as defined by the SAE. Key players in this segment include New Flyer, Gillig, Novabus, Bluebird, Thomas Built Buses, Proterra, Optimus Ride, and technology providers like Continental, Local Motors, and Schaeffler. Ultrasonic sensors and Field of View technologies are essential for Level 3 autonomy, while LIDARs provide critical distance measurement and object detection. The increasing availability of infrastructure supporting Level 3 autonomy, such as traffic management systems, is improving commercial adoption. New technologies, like self-driving buses and on-demand services, are addressing traffic conditions and “last-mile” connectivity. Autonomous buses offer reduced operational costs and eco-friendly transportation options, appealing to consumer preferences. However, safety concerns, including incidents or accidents, and industry setbacks due to economic uncertainties and regulatory frameworks, pose challenges. Diesel-powered buses contribute to carbon emissions, making electric buses an attractive alternative. Adaptive cruise control and lane-keeping assistance are essential self-driving technologies, enhancing road safety and reducing human error. Regulatory frameworks and safety concerns must be addressed to ensure the successful expansion of autonomous transportation solutions. Industry leaders like VDL Groep are investing in electric buses and advanced technologies to mitigate traffic congestion, pollution, and emissions. The shift from fossil fuel-based mobility to autonomous transportation solutions is crucial for a sustainable future.

Geography Overview

The autonomous bus market in North America is experiencing robust growth, driven by the US, with its thriving technology sector and numerous autonomous vehicle developers. On-demand services, traffic conditions, and “last-mile” connectivity are key factors fueling this expansion. Self-driving technologies from technology providers like Schaeffler and VDL Groep are revolutionizing transportation, with adaptive cruise control and lane-keeping assistance enhancing road safety. Consumer preferences lean towards eco-friendly transportation options, leading to the adoption of electric buses and a reduction in carbon emissions. However, safety concerns, including incidents or accidents, industry setbacks, and regulatory frameworks, remain challenges. Advanced technologies, including sensors, artificial intelligence, and electric propulsion systems, are being integrated to improve safety and efficiency. Autonomous Level 4 shuttles are being tested by transit agencies and companies, with smart traffic signals, dedicated lanes, and communication networks facilitating their implementation. Economic uncertainties and fossil fuel-based mobility continue to impact the industry, but autonomous transportation solutions offer potential solutions to congestion, pollution, and traffic jams. 

Insights on the market contribution of various segments including country and region wise, historic (2018 – 2022) and forecast market size– Download a Sample Report

• The autonomous bus market is experiencing technological advancements, driven by the prioritization of safe and reliable autonomous driving. In May 2023, the UK launched its first full-sized self-driving bus as part of an initiative, while Edinburgh operated five autonomous buses monitored by safety drivers. Key players include Schaeffer, New Flyer, Gillig, Novabus, Bluebird, Thomas Built Buses, Proterra, Optimus Ride, Continental, and Local Motors. Technologies like sensors, AI, electric propulsion systems, and AL algorithms are shaping this market, along with safety improvements, smart traffic signals, and dedicated lanes. Texas, Ultrasonic segment, and LIDARs are also significant.
• The autonomous bus market is witnessing significant growth due to the integration of advanced technologies like ultrasonic segments, LIDARs, and adaptive cruise control. However, this increasing penetration of self-driving technologies in public transportation solutions brings security concerns, including data breaches and system hacking. Key players include New Flyer, Gillig, Novabus, Bluebird, Thomas Built Buses, Proterra, Optimus Ride, Continental, Local Motors, and technology providers like Schaeffler and VDL Groep. Factors influencing market growth include consumer preferences for eco-friendly transportation, traffic congestion, and regulatory frameworks. Challenges include industry setbacks, economic uncertainties, and fossil fuel-based mobility. Autonomous buses offer safety benefits for passengers and pedestrians, reducing human error and emissions.

Insights on Market Drivers, trends, & Challenges, historic period(2018 – 2022) and forecast period(2024-2028)- Request a sample report!

Research Analysis

The Autonomous Bus Market is experiencing significant growth as technology providers introduce advanced self-driving solutions for public transportation. Key players in this sector include Ultrasonic segment specialists, such as LIDAR manufacturers, and bus manufacturers like New Flyer, Gillig, Novabus, Bluebird, Thomas Built Buses, and Proterra. These companies are integrating sensors, Artificial Intelligence (AI) algorithms, and Electric propulsion systems into their buses to improve safety and reduce traffic congestion. Autonomous buses offer “last-mile” connectivity solutions, addressing traffic conditions and providing on-demand services. Schaeffer Electric, a safety improvement leader, is also contributing to this market by providing innovative solutions for Autonomous buses. Overall, the Autonomous Bus Market is revolutionizing public transportation with its advanced technologies and commitment to sustainable transportation.

Market Research Overview

The Autonomous Bus Market is experiencing significant growth due to the integration of advanced technologies such as Computer Vision, LiDAR sensors, and artificial intelligence. Fields like route planning, passenger identification, and traffic management are being revolutionized. The adoption of autonomous buses is driven by factors like reduced operational costs, increased safety, and improved passenger experience. Provider companies like Volvo, Tesla, and NuTonomy are leading the charge in this sector. The market is projected to reach new heights with the implementation of 5G networks and the development of smart cities. However, challenges such as regulatory frameworks and public acceptance remain. The future of transportation lies in the hands of these autonomous buses, offering a sustainable and efficient solution for urban mobility.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Propulsion
• Diesel
• Electric
• Hybrid
• Type
• Semi-autonomous
• Fully-autonomous
• Geography
• North America
• APAC
• Europe
• Middle East And Africa
• South America

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

SOURCE Technavio

Go to Source