Autonomous Bus Market 2022-2028 | Regional Insights & Growth Forecast
Category: #business  By Rahul Varpe  Date: 2022-11-16
  • share
  • Twitter
  • Facebook
  • LinkedIn
Autonomous Bus Market 2022-2028 | Regional Insights & Growth Forecast

The autonomous bus market is expected to record significant gains by 2028 on account of ongoing electrification and automation of public transport across key regions. In addition, growing prominence of autonomous driving is set to further support market growth over the forecast timeline.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/5105

The advent of self-driving technologies, along with increasing R&D activities by commercial vehicle manufacturers, has driven market growth. Autonomous buses are considered to provide enhanced mobility, safety, and energy efficiency, which has accelerated product adoption in recent years.

Notably, industry players have been implementing profitable strategic initiatives to tap into emerging trends in the market, thereby strengthening the overall business landscape. For instance, in January 2022, NAVYA, a France-based autonomous and electric vehicles producer, extended its collaboration with VALEO, a global automotive supplier, to co-develop an innovative safety system for autonomous vehicles dubbed the Autonomous Vehicle Failsafe System (AVFS). The AVFS has been developed to safeguard operations of Level 4 autonomous vehicles.

To cite another instance, in May 2021, Scania AB, a prominent commercial automotive manufacturer, announced a considerable investment in Scantinel Photonics GmbH, a leading manufacturer of LiDAR sensors. The firm intended to ensure autonomous vehicles' efficient performance and safety by investing in the unique FMCW LiDAR sensor technology.

The autonomous bus market has been segregated on the basis of application, level of autonomy, fuel, and region. With respect to level of autonomy, the market has further been classified into level 1, level 2, level 3, and level 4. The level 2 sub-segment is estimated to expand at a robust pace through the review period. Increasing deployment of level 2 autonomous buses in developing economies is likely to propel market growth over the forthcoming years.

From the fuel point of view, the autonomous bus market has been bifurcated into diesel, electric, and hybrid. The diesel sub-segment is projected to witness moderate growth, progressing at a nominal CAGR over the forecast period. This moderate growth is attributed to the widespread adoption of electric autonomous buses on account of rising awareness regarding alternative fuels.

Request for Customization @  https://www.gminsights.com/roc/5105

In terms of application, the autonomous bus market has been segmented into intracity and intercity. The intercity sub-segment is anticipated to register substantial growth over the study timeframe owing to soaring number of intercity commuting trips.

On the regional front, the Middle East & Africa autonomous bus market is speculated to reach a notable valuation by 2028, developing at a CAGR of more than 9% over the assessment period. Mounting investments towards the modernization of the regional transport system are likely to foster market expansion in the coming years.

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More >>

More News By Rahul Varpe

Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
By Rahul Varpe

The construction site preparation equipment market is expected to grow substantially by 2028 on account of rising number of public infrastructure development projects worldwide. In addition, increasing investments towards R&D activities from manu...

Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
By Rahul Varpe

The concrete chain saw market is slated to witness exponential growth by 2028 on account of the booming construction and building maintenance sector around the world. In addition, growing awareness regarding the benefits of using a concrete chainsaw ...

Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
By Rahul Varpe

The stand tile saw market is poised to expand substantially by 2028 on account of burgeoning number of construction activities around the globe. In addition, rapid urbanization and rising consumer spending across key regions are likely to further pro...