Autonomous Bus Market: Key Players, Opportunities and Growth Analysis to 2028
The Asia Pacific autonomous bus market is expected to record appreciable gains over the projected period given that more and more countries are taking an interest in allowing commercial operations. For instance, in April 2021, China’s first autonomous bus line began commercial operations in the Chongqing’s Yongchuan district with the availability of the red Baidu Robobus for city trips. Equipped with level-4 autonomous driving, the line has a safety monitor present in the driver’s seat for usage in case of emergency. However, the actual driving is done by the artificial intelligence system.
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The adoption of similar programs is estimated to strengthen the industry scenario in the region. In the years to come, favorable regulatory policies coupled with the escalating emphasis of government authorities on the formulation of strict guidelines and framework for the implementation of the self-driving concept are expected to impel autonomous bus service demand, boosting revenue expansion across various geographies.
Several countries in Europe have recorded an upsurge in live-trial programs, which is considered as one of the key advancements in the global industry. For instance, Malaga, a city in Southern Spain, hit the headlines in March 2021, for running a live-trial of autonomous buses. Knitted out with sensors that enable response to the environment, the bus had a maximum carrying capacity of 60 passengers. This constituted the first such trial of an autonomous and full-sized passenger-carrying bus in the region, with similar initiative expected to open remarkable avenues for business expansion.
A number of regulatory bodies in North America are providing research grants for incentivizing the development of advanced products. Citing an instance, in February 2022, officials in Trenton, New Jersey, U.S., secured a grant of USD 5 million for the commencement of the state’s first all-electric powered, micro-transit system with self-driving mini-buses.
The grant will help the city in supporting the startup and ensuring the deployment of almost 100 autonomous mini-buses for an on-demand transit system, which is estimated to serve nearly 90,000 residents, of which 70% cannot go for car.
An increase in the adoption of collaborative strategies by several autonomous bus market players has prepared the groundwork for product innovations and market penetration across various regions. One such instance is the Scottish transport company, Stagecoach, which, in November 2021, unveiled the first glimpse of the new special livery for the launch of its CAVForth project in partnership with Transport Scotland, Alexander Dennis, and Fusion Processing,
The move constituted a major breakthrough in the key trial, aimed at running the first full-sized autonomous fleet on UK’s roads in 2022. Similar advancements are touted to augment autonomous bus market size, which is estimated to surpass USD 4 billion by 2028.
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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 Autonomous bus market estimates and forecast, 2018 – 2028
6.4 Hybrid
6.4.1 Market estimates and forecast, 2018 – 2028
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