Semi-Autonomous And Autonomous Bus Global Market
Overview and Scope
Semi-autonomous and autonomous buses refer to public transportation vehicles that are equipped with advanced technologies to operate with varying degrees of autonomy. Both semi-autonomous and autonomous buses aim to revolutionize transportation by reducing accidents, improving traffic flow, and increasing mobility options. These technologies have the potential to transform public transportation systems by enhancing safety, accessibility, and sustainability.
Sizing and Forecast
The semi-autonomous and autonomous bus market size has grown rapidly in recent years. It will grow from $0.83 billion in 2023 to $0.99 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to the increasing urban population, growing environmental awareness, regulatory support, the development of smart city infrastructure, increasing demand for convenient and comfortable public transportation options.
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Segmentation & Regional Insights
The semi-autonomous and autonomous bus market covered in this report is segmented –
1) By Propulsion Type: Electric, Hybrid, Diesel
2) By Sensor Type: Ultrasonic, Camera, Lidar, Radar
3) By Level of Automation: Level 1, Level 2, Level 3, Level 4, Level 5
4) By Application: Shuttle, Intracity, Intercity
North America was the largest region in the semi-autonomous and autonomous bus market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semi-autonomous and autonomous bus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for 5G technology for vehicle connectivity is expected to propel the growth of the semi-autonomous and autonomous bus market going forward. 5G technology for vehicle connectivity refers to the use of fifth-generation (5G) cellular network technology to enable high-speed, low-latency communication between vehicles (V2V) and between vehicles and infrastructure (V2X). 5G enables direct communication between vehicles, allowing semi-autonomous and autonomous buses to help improve road safety by enabling vehicles to alert each other about potential hazards and coordinate their movements to avoid accidents. For instance, according to the 5G Automotive Association (5GAA), a Germany-based cross-industry association for connected and autonomous vehicles, over 45 million annual 5G-connected passenger vehicles will be shipped globally by 2025. Therefore, the increasing demand for 5G technology for vehicle connectivity is driving the semi-autonomous and autonomous bus market.
Key Industry Players
Major companies operating in the semi-autonomous and autonomous bus market report are Bayerische Motoren Werke AG, Robert Bosch GmbH, Tesla Inc., Intel Corporation, Daimler Truck, ZF Friedrichshafen AG, ZF Press, AB Volvo, Denso Corporation, Qualcomm Inc., Continental AG, Uber Technologies Inc., Nvidia Corporation, Aptiv PLC, NXP Semiconductor Inc., Navya SAS, Waymo LLC, Proterra Inc., Local Motors , EasyMile
The semi-autonomous and autonomous bus market report table of contents includes:
1. Executive Summary
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