Self-Driving Bus Market Growth, Demand, Competitive Analysis, Future Prospects and Forecast to 2028

Self-Driving Bus Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Level of Automation (Level 1, Level 2, Level 3, Level 4, Level 5); Component (Hardware, Software, Services) and Geography"

Autonomous vehicles also known as self-driving car or bus makes use artificial intelligence (AI) software, cameras, and light detection & ranging (LiDAR), RADAR, to sense the surrounding environment and navigate by creating an active 3D map of that location. There are diverse levels of autonomy ranging from semi-autonomous that involve driver assistance to fully autonomous, which does not require human assistance. The high amount of fuel is burned while driving at high speeds or braking and re-accelerating excessively. Self-driving bus consumes less gas and uses less battery, which results in less pollution.

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Companies Profiled in this report includes: AB Volvo,  Daimler AG,  EasyMile,  Hino Motors, Ltd.,  LILEE Systems,  Navya,  New Flyer (NFI Group Inc.),  Proterra,  Rivian,  Volkswagen Group

MARKET SEGMENTATION

  On the basis of level of automation, the market is segmented as Level 1, Level 2, Level 3, Level 4, and Level 5.

  On the basis of component, the market is segmented as hardware, software, and services.

MARKET DYNAMICS

Drivers:

  Growth in connected infrastructure

  Reduction in traffic congestion due to improved safety

Restraint -

  High manufacturing cost and data management challenges

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IMPACT OF COVID-19 ON SELF-DRIVING BUS MARKET

The COVID-19 pandemic impacted the automotive sector drastically due to the standstill of major OEM and supplier factory. Approximately 90% of the factories were closed in China, Europe, and North America. Additionally, mobility players suffered drastically from the pandemic as the public-transit ridership fell from 70 to 90 percent across major cities worldwide. Furthermore, the impact of COVID-19 on autonomous vehicles differed across different regions, subject to technology readiness, changes in consumer behavior, and regulatory developments. For instance, in North America, autonomous vehicle testing was temporarily suspended and the consumer's behavior trends shifted away from shared mobility and public transit. However, it is speculated that as the effects of COVID-19 gets reduced and vaccine drives are conducted successfully, the consumers could start adopting road based mobility which would result in market players doubling their investment in autonomous vehicle. For instance, DB Regio AG and ZF Friedrichshafen AG have entered a strategic partnership to introduce highly automated and autonomous bus shuttles on the roads in Germany in the near future. Such initiatives by companies and coinciding government policies for connected safe public transit are expected to reverse the impact on the global self-driving bus market.

The purposes of this analysis are:

To characterize, portray, and check the Self-Driving Bus market based on product type, application, and region.

To estimate and inspect the size of the Self-Driving Bus market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.

To estimate and inspect the Self-Driving Bus markets at country-level in every region.

To strategically investigate every sub-market about personal development trends and its contribution to the Self-Driving Bus market.

To look at possibilities in the Self-Driving Bus market for shareholder by recognizing excessive-growth segments of the market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.