Autonomous Bus Market: Recent Trends, Major Driving Factors And Business Growth Strategies 2028
Autonomous Bus Market is poised to grow at more than 19% CAGR through 2028. In recent years, vehicle automation and sustainable urban transportation have witnessed tremendous focus from the industrial perspective. This can be mostly accredited to the mounting number of road accidents and the subsequent need to reduce the risk of human errors. According to the NHTSA (National Highway Traffic Safety Administration), school bus-related crashes killed almost 54 people nationwide in 2020, down by around 50% compared to 2019.
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In light of these factors, the autonomous bus market is set to garner commendable proceeds in the imminent years. The paradigm shift to public transportation particularly in the large and dense cities has paved way for systems that increase connectivity, like intra-cities as well as first and last-mile commutes.
The rapid advances in autonomous vehicle (AV) technologies, soaring government support, and thriving research activities will also propel the autonomous bus market expansion. To cite an instance, in November 2021, Michigan State University partnered with Karsan, a leading bus manufacturer and automated transportation platform provider, ADASTEC, to introduce an electric autonomous bus. The novelty served students, faculty and staff in early 2022 as part of the campus’ smart mobility ecosystem.
With the expanding fleet of electric vehicles for significantly reducing GHG emissions, as well as air and noise pollution, along with dependency on fossil fuels, the demand for autonomous buses may foresee a significant surge in the coming years. As per the 2020 National Transit Database, over 1,268 electric buses are operating actively at transit agencies in the U.S. This is likely to infuse a positive scenario for the autonomous bus market growth.
Lately, level 4 autonomous solutions have paved way as strong contenders in public transport vehicles and driverless taxis as they are generally designed for travel from point A to point B. Buses deployed with this technology operate in self-driving mode, devoid of any human interaction as they are programmed to stop themselves in event of system failures.
Recent innovations in level 4 driving automation technology and the growing regulatory support are also stimulating the autonomous bus market growth. For instance, in September 2021, the Japanese transportation ministry laid the groundwork for level 4 automation for providing mobility solutions to buses in remote regions and introducing stricter safety requirements for autonomous vehicles. The Japanese government is also aiming to provide Level 4 transportation services across 40 locations across the nation by 2025, and nearly 100 locations by 2030.
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Some Point from Table of Contents:
Chapter 5 Autonomous Bus Market, By Level of Autonomy
5.1 Key trends by level of autonomy
5.2 Level 1
5.2.1 Market estimates and forecast, 2018 – 2028
5.3 Level 2
5.3.1 Market estimates and forecast, 2018 – 2028
5.4 Level 3
5.4.1 Market estimates and forecast, 2018 – 2028
5.5 Level 4
5.5.1 Market estimates and forecast, 2018 – 2028
Chapter 6 Autonomous Bus Market, By Fuel
6.1 Key trends by fuel
6.2 Diesel
6.2.1 Market estimates and forecast, 2018 – 2028
6.3 Electric
6.3.1 Market estimates and forecast, 2018 – 2028
6.4 Hybrid
6.4.1 Market estimates and forecast, 2018 – 2028
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