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Global Semi-Autonomous and Autonomous Bus Market to Grow at a CAGR of 24.00% During 2022-2027, Aided by the Increased Adoption of ADAS Technology

According to a new report by EMR titled, ‘Global Semi-Autonomous and Autonomous Bus Market Report and Forecast 2022-2027’, the global market for semi-autonomous and autonomous bus is expected to grow at a CAGR of 24.00% in the forecast period of 2022-2027.

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:

  • The semi-autonomous and autonomous bus industry, based on propulsion type, can be divided into diesel, electric, and hybrid.
  • By application, the market can be classified into shuttle and intercity/intracity.
  • On the basis of ADAS features, the market can be categorised into adaptive cruise control (ACC), automatic emergency braking (AEB), blind spot detection (BSD), intelligent park assist (IPA), lane keep assist (LKA) traffic jam assist (TJA), and highway pilot (HP).
  • Based on level of automation, the market can be divided into level 1, level 2 and 3, level 4, and level 5.
  • On the basis of sensor type, the market can be segmented into camera, radar, lidar, and ultrasonic.
  • The regional markets for semi-autonomous and autonomous bus include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for semi-autonomous and autonomous bus is being driven by the growing concerns of road safety.
  • The growing demand for environmentally friendly transport systems is positively stimulating the growth of the market.
  • The increased government initiatives to efficiently manage the transportation system is further augmenting the market growth.
  • The rapid technological advancements such as ADAS and the investments made in research and development activities by the key players operating in the industry are expected to propel the market growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for semi-autonomous and autonomous bus for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the propulsion types, applications, ADAS features, levels of automation, sensor types, and major regions of semi-autonomous and autonomous bus.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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