PUBLISHER: The Business Research Company | PRODUCT CODE: 1458740
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458740
Semi-autonomous and autonomous buses are vehicles in public transportation equipped with advanced technologies to operate with varying levels of autonomy. Both aim to transform transportation by enhancing safety, reducing accidents, improving traffic flow, and increasing mobility options. These technologies have the potential to revolutionize public transportation systems by enhancing safety, accessibility, and sustainability.
Semi-autonomous and autonomous buses feature different propulsion systems such as electric, hybrid, and diesel. Electric semi-autonomous and autonomous buses utilize electric propulsion systems along with advanced autonomous technologies to operate with varying degrees of automation. They employ various sensors including ultrasonic, camera, lidar, and radar, enabling levels 1 through 5 automation for shuttle, intracity, and intercity applications.
The semi-autonomous and autonomous bus market research report is one of a series of new reports from The Business Research Company that provides semi-autonomous and autonomous bus market statistics, including semi-autonomous and autonomous bus industry global market size, regional shares, competitors with a semi-autonomous and autonomous bus market share, detailed semi-autonomous and autonomous bus market segments, market trends and opportunities, and any further data you may need to thrive in the semi-autonomous and autonomous bus industry. This semi-autonomous and autonomous bus market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed during the historical period can be attributed to several factors, including the increasing urban population, growing environmental awareness leading to sustainable practices, regulatory support for urban development initiatives, the establishment of smart city infrastructure integrating technology for improved efficiency and sustainability, as well as the rising demand for convenient and comfortable public transportation options to meet the needs of urban residents.
The semi-autonomous and autonomous bus market size is expected to see rapid growth in the next few years. It will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 17.5%. The anticipated growth in the forecast period can be attributed to several factors, including the utilization of data analytics for route optimization, the globalization of the automotive industry, the formation of public-private partnerships, the increasing digitalization of processes, and evolving consumer preferences. Major trends expected during this period include the widespread adoption of electrification, the integration of advanced driver assistance systems (ADAS), the implementation of connected vehicle technologies, the progression towards level 4 autonomy, and the emphasis on data-driven decision-making processes.
The projected surge in demand for 5G technology for vehicle connectivity is poised to propel the growth of the semi-autonomous and autonomous bus market in the future. 5G technology for vehicle connectivity utilizes fifth-generation (5G) cellular network technology to facilitate high-speed, low-latency communication among vehicles (V2V) and between vehicles and infrastructure (V2X). This advancement enables direct communication between vehicles, empowering semi-autonomous and autonomous buses to enhance road safety by enabling vehicles to alert each other about potential hazards and coordinate their movements to prevent accidents. For example, the 5G Automotive Association (5GAA), a Germany-based cross-industry association for connected and autonomous vehicles, forecasts that over 45 million annual 5G-connected passenger vehicles will be shipped globally by 2025. Consequently, the escalating demand for 5G technology for vehicle connectivity serves as a driving force behind the growth of the semi-autonomous and autonomous bus market.
Major players in the semi-autonomous and autonomous bus market are prioritizing strategic collaborations to deliver dependable services to their customers. A strategic collaboration involves an agreement between two or more entities to work together towards mutually beneficial, long-term objectives. For instance, in May 2023, Mobileye Global Inc., an Israel-based developer of autonomous driving technologies and advanced driver-assistance systems, partnered with MAN Truck & Bus SE, a Germany-based provider of commercial vehicles, to introduce autonomous city buses to urban streets. This collaboration aims to integrate Mobileye's Drive technology into MAN's city buses, thereby facilitating the deployment of automated public transit solutions. By combining Mobileye's extensive experience in autonomous driving technology with MAN's proficiency in bus manufacturing and infrastructure, the collaboration seeks to create reliable and efficient autonomous transit systems.
In July 2022, Continental, a German automotive parts manufacturing company, acquired NorrVulk AB for an undisclosed sum. NorrVulk specializes in vehicle data communication systems, integrating various bus subsystems and enabling connectivity to back-office fleet operating systems. This acquisition is expected to bolster Continental's ability to offer comprehensive connected vehicle solutions. With the combined product portfolio and access to autonomous vehicle buyers, Continental aims to expedite its autonomous shuttle initiatives, particularly targeting the European market. NorrVulk AB, based in Sweden, focuses on developing autonomous and electric vehicles, including buses.
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
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.
The countries covered in the semi-autonomous and autonomous bus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The semi-autonomous and autonomous bus market consists of revenues earned by entities by providing services such as infrastructure support, safety and security systems, maintenance and diagnostic systems, and passenger information systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The semi-autonomous and autonomous bus market also includes sales of testing and validation equipment, sensors and perception systems, and electric and hybrid powertrains. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Semi-Autonomous And Autonomous Bus Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on semi-autonomous and autonomous bus market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for semi-autonomous and autonomous bus? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The semi-autonomous and autonomous bus market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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