Steering Forward: A Comprehensive Look at Self-Driving Buses

Allied Market Research published a report, titled, "Self-Driving Electric Vehicle Market by Level of Automation (Level 1, Level 2, Level 3), by Vehicle Type (Passenger Cars, Commercial Vehicles), by Type (Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, Fuel Cell Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global self-driving electric vehicle industry generated $0.23 trillion in 2021 and is anticipated to generate $5.0 trillion by 2031, witnessing a CAGR of 36.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/12631

Drivers, Restraints, and Opportunities

Rise in demand for low-emission and safe transportation, surge in the development of safety features, and supportive government initiatives drive the growth of the global self-driving electric vehicle market. However, high manufacturing and maintenance costs and privacy & security issues restrict the growth of the market. On the other hand, technological advancement & research, and the growing use of self-driving electric vehicles for ride-hailing and delivery services will present new growth opportunities for the global self-driving electric vehicle market in the coming years.

Covid-19 Scenario

The outbreak of the COVID-19 pandemic had a negative impact on the sales of self-driving electric vehicles, owing to the disruption of the entire global automotive supply chain, and plant closure.
However, several manufacturers focused on the design and development of self-driving electric vehicles post pandemic for the delivery and logistic industries.
The passenger cars segment to achieve the highest revenue during the forecast period

By vehicle type, the passenger cars segment grabbed the highest share of more than 90% of the overall self-driving electric vehicles market in 2021 and is projected to maintain its dominance in 2031. This is because of the rise in the development of autonomous and high performing self-driving electric passenger vehicles. Moreover, the commercial vehicles segment is expected to witness the fastest CAGR of 40.9% from 2022 to 2031. The growth of the segment is driven by government initiatives in various countries across the globe to adopt zero-emission technology for heavy-duty commercial vehicles.

The battery electric vehicles segment to rule the roost during forecast period

Based on type, the battery electric vehicles segment contributed the largest share of more than half of the global self-driving electric vehicle market and is expected to maintain its leadership in terms of revenue during the forecast period. The growth is attributed to the surge in the deployment of AI and assistive technologies such as radar and computer vision in battery electric vehicles. However, the fuel cell electric vehicles segment is expected to showcase the highest CAGR of 38.3% during the forecast period, owing to the rapid shift towards environmentally friendly vehicles from traditional vehicles to control emissions.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭-https://www.alliedmarketresearch.com/self-driving-electric-vehicle-market/purchase-options

The level 2 segment to grab lion's share during the forecast period

Based on the level of automation, the level 2 segment contributed to the largest share of around 90% of the global self-driving electric vehicle market and is expected to maintain its leadership in terms of revenue during the forecast period. This is due to an increase in demand for safety features and semi-autonomous driving technology in vehicles. On the other hand, the level 3 segment is projected to witness a fastest CAGR of 39.5% from 2022 to 2031. The growth is attributed to the rise in government approval to test level 3 autonomous technology in some countries.

Asia Pacific to achieve the largest revenue by 2031

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly half of the global self-driving electric vehicle market and is likely to maintain its dominance during the forecast timeframe. The market in the region is driven by supportive regulatory frameworks, government funding, and investments in autonomous technologies. However, the market in North America is projected to witness a fastest CAGR of 38.8% from 2022 to 2031. The market is driven by an increase in the launch of a new range of self-driving electric vehicles on roads to offer safe transportation.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/12631

Leading Market Players

TOYOTA MOTOR CORPORATION
General Motors
Volkswagen AG
Daimler AG
Volvo Group
Tesla
HONDA MOTOR CO., Ltd
Hyundai motor company
Ford Motor Company
BMW AG

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

Electric Vehicle Market Research Report 2023-2035- https://www.alliedmarketresearch.com/electric-vehicle-market

Autonomous Vehicle Market Research Report 2023-2035- https://www.alliedmarketresearch.com/autonomous-vehicle-market

Self-Driving Car Market Research Report 2023-2035- https://www.alliedmarketresearch.com/self-driving-car-market-A07143

Self-Driving Truck Market Research Report 2023-2035- https://www.alliedmarketresearch.com/self-driving-truck-market

Self-Driving Bus Market Research Report 2023-2035- https://www.alliedmarketresearch.com/self-driving-bus-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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