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The increasing concerns about road safety, fuelled by the growing mortality rates due to road accidents, is driving the global market for semi-autonomous and autonomous bus. Additionally, the government initiatives to efficiently manage the transport system and the increasing passenger traffic are also projected to play a critical role in invigorating the market growth. Moreover, the rising urge to tackle environmental issues like carbon emissions is also estimated to aid the market growth. Furthermore, the technological adoption of ADAS technology and the increasing investments in research and development activities by the key industry players are expected to aid the market in the forecast period.
The growing demand for semi-autonomous and autonomous busses that are safer, greener, and have connected solutions is driving many companies to carry out collaboration activities, which is predicted to aid the market growth. For instance, in May 2018, Aptiv PLC (NYSE: APTV) partnered with Lyft to launch 30 autonomous vehicles in Las Vegas on the Lyft network. The vehicles use Aptiv driving technology that is accessed through Lyft app and the company delivers safe technologies in both hardware and software. Meanwhile, in March 2019, Nanyang Technological University, Singapore (NTU Singapore) and Volvo Buses, part of AB Volvo (OTCMKTS: VLVLY), announced the launch of world’s first full size autonomous electric bus, which is equipped with a range of sensors and navigation controls managed by a comprehensive artificial intelligence (AI) system. Furthermore, in June 2020, Daimler AG (OTCMKTS: DMLRY) brought forward their plans to join with NVIDIA to create an in-vehicle computing system and AI computing infrastructure, which will provide numerous safety and convenience applications for their next fleet of vehicles that will be rolled out in 2024. Such developments are expected to invigorate the semi-autonomous and autonomous bus industry in the forecast period.
Market Analysis by Propulsion Type, Application, ADAS Feature, Level of Automation, Sensor Type, and Region:
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The major players in the global semi-autonomous and autonomous bus market are AB Volvo, Robert Bosch GmbH, Daimler AG, Denso Corporation, and Local Motors (LM Industries), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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